Nuclear Fusion Market Growth, Size, Key Drivers, Forecast To 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Nuclear Fusion Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The nuclear fusion market size has grown strongly in recent years. It will grow from $313.1 billion in 2023 to $332.23 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to energy security concerns, environmental sustainability, international collaboration, government funding and support, advancements in fusion research.

The nuclear fusion market size is expected to see strong growth in the next few years. It will grow to $435.65 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to private sector investment, global energy transition, technological maturation, research and development initiatives, policy and regulatory support. Major trends in the forecast period include government support and funding initiatives, research on innovative fuel cycles, advances in plasma stability and control, R&D efforts in fusion materials and components, public awareness and education initiatives.

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Market Segmentation:
The nuclear fusion market covered in this report is segmented -

1) By Technology: Inertial Confinement, Magnetic Confinement
2) By Fuels: Deuterium, Tritium, Helium-3, Proton Boron

Major Driver - Government Funding Surge Expected To Drive Nuclear Fusion Market Growth
Increased government funding for nuclear energy is expected to propel the growth of the nuclear fusion market going forward. Nuclear energy is energy created by breaking atoms in a reactor to heat water into steam, operate a turbine, and generate electricity. Several governments of developed countries are funding nuclear reactors, which increases the demand for the nuclear fusion market. For instance, in 2021, according to the International Energy Agency (IEA), a Paris-based autonomous intergovernmental organization, in the United States, 6 large-scale nuclear reactors came online and started operating with a combined capacity of 5.6 GW and, 2 reactors are expected to start operations by 2030 and would receive USD 3.2 billion in government funding. Furthermore, France is funding a total of USD 1.08 billion (EUR 1 billion), and China, is undergoing some projects such as the HTR-PM units at Shidao Bay already grid-connected in 2021, and others under construction which has several advanced nuclear technologies under development. Therefore, increased government funding for nuclear energy is driving the growth of the nuclear fusion market.

Competitive Landscape:

Major companies operating in the nuclear fusion market report are Lockheed Martin Corporation, Southern Company, General Atomics, TAE Technologies Inc., Culham Centre for Fusion Energy, Tri Alpha Energy Inc., Zap Energy Inc., Fusion Energy Solutions Inc., Helion Energy Inc., First Light Fusion Ltd., Tokamak Energy Ltd., NuScale Power LLC, Brilliant Light Power Inc., Marvel Fusion GmbH, Commonwealth Fusion Systems Inc., HB11 Energy, General Fusion Inc., HyperJet Fusion Corporation, Phoenix LLC, ITER Organization, Alectryon, Project Thunderbird, Field-Reversed Configuration, Focused Energy Inc., Princeton Stellarators Inc., Fusion for Energy, National Institute for Fusion Science, Max Planck Institute for Plasma Physics, Lawrence Livermore National Laboratory, LPP Fusion

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Top Trend - Companies Join Forces For Advancements In Nuclear Fusion
Major companies operating in the nuclear fusion market are forming partnerships to develop new products and strengthen their positions in the market. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in November 2023, Focused Energy Inc., a US-based energy harvesting company partnered with Lawrence Livermore National Laboratory (LLNL) is a US-based federally funded research and development center for developing target designs for inertial fusion energy. The collaboration seeks to aid in the development and evaluation of isochoric compression target designs for inertial fusion energy.

The Table Of Content For The Market Report Include:

1. Executive Summary
2. Nuclear Fusion Market Characteristics
3. Nuclear Fusion Market Trends And Strategies
4. Nuclear Fusion Market - Macro Economic Scenario
5. Nuclear Fusion Market Size And Growth
…..
27. Nuclear Fusion Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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