Nuclear Power in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
NAICS 22111bRevenue
$37.2bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
40,148
Businesses
41
Wages
$X.Xbn
Nuclear Power in the US industry analysis
Nuclear power companies produce electricity by heating water in a reactor via nuclear fission and using the produced steam to spin large turbines. The United States has more nuclear electricity generation capacity than any other country, generating more than 771.5 billion kilowatt-hours of electricity alone, according to the Energy Information Administration's (EIA) most recent Electric Power Monthly report. Even so, public concerns about the safety of nuclear power have increased. Nuclear power producers have also faced rising competition from renewable and traditional energy sources. In response, nuclear capacity additions have slowed and older facilities have steadily closed. Nonetheless, in 2023, the country saw its first nuclear reactor, Vogtle 3, enter the power grid in 2016, with Vogtle 4 set to commence operation in 2024.
Trends and Insights
- Renewable energy and traditional energy sources continue to damper performance. Some plants have been forced to shut down because they cannot compete.
- The industrial sector continues to be the largest source of revenue for producers. Manufacturers require high voltage and rely on electricity generated by nuclear power for day-to-day operations.
- The Great Lakes is home to many industrial manufacturers and the largest nuclear power generator market. Illinois holds the largest number of nuclear plants in the country.
- The three largest companies make up more than half of the market, making it harder for new entrants to enter the industry. Existing establishments continue to expand their market share through acquisition and capacity expansion.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 1.3 % over the past five years, to reach an estimated $37.2bn in 2024.
Trends and Insights
Competition remains fierce
- Nuclear power generators continue to compete with other energy sources (natural gas, fossil fuel, solar and wind). Indian Point Center, a large plant in New York, recently shut down after six decades as it could not compete with low natural gas prices.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Technological advances aid production
- In 2024, Vogtle Unit 4 is scheduled to commence operations, becoming operational alongside Vogtle Unit 3 as one of the first new nuclear reactors of the decade. The plants will use advanced pressurized water reactor technology and promote sustainability.
Biggest companies in the Nuclear Power in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Exelon Corporation | 11,101.0 | 591.1 | 5.3 | |
Dominion Energy, Inc. | 6,261.2 | 793.6 | 12.7 | |
Entergy Corporation | 2,060.5 | 206.4 | 10.0 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Nuclear generation from utilities, Nuclear generation from independent power producers and Other. Nuclear generation from utilities is the largest segment of the Nuclear Power in the US.
Trends and Insights
Utility companies are slowly losing their hold
- Public utility companies are heavily regulated and make up more than half of the nuclear power generation in the United States. While they still control the bulk of the market, their share has fallen drastically.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Electric Power Transmission in the US
- Coal & Natural Gas Power in the US
- Hydroelectric Power in the US
- Wind Power in the US
- Solar Power in the US
Complementors
- There are no industries to display.
International industries
- Electricity Production in the UK
- Electricity Production in Ireland
- Nuclear Power in China
Table of Contents
About this industry
Industry definition
This industry consists of companies that operate nuclear-powered, electricity generation plants. The power plants use nuclear fuel to generate steam, which in turn is used to power turbines that generate electric power. The electricity reaches end users via transmission or distribution systems. This industry excludes government-owned nuclear facilities.
What's included in this industry?
Generating nuclear electric powerCompanies
Exelon CorporationDominion Energy, Inc.Entergy CorporationPurchase this report to view all 3 major companies in this industry.
Related Terms
KILOWATT HOURELECTRICITY UTILITYBASE LOAD POWERUPRATEIndustry Code
NAICS 221113 - Nuclear Power in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Renewable energy and traditional energy sources continue to damper performance. Some plants have been forced to shut down because they cannot compete.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The industrial sector continues to be the largest source of revenue for producers. Manufacturers require high voltage and rely on electricity generated by nuclear power for d...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Great Lakes is home to many industrial manufacturers and the largest nuclear power generator market. Illinois holds the largest number of nuclear plants in the country.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The three largest companies make up more than half of the market, making it harder for new entrants to enter the industry. Existing establishments continue to expand their ma...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Exelon Corporation spins off its nuclear power generation assets into a new business. Thirteen stations with 21 gigawatts of capacity were spun into Constellation Energy Corp...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Exelon Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Dominion Energy, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Entergy Corporation's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Exelon Corporation, and factors influencing its performance in the industry
- Description and key data for Dominion Energy, Inc., and factors influencing its performance in the industry
- Description and key data for Entergy Corporation, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Nuclear power plants are subject to strict regulations. The Nuclear Regulatory Commission licenses commercial plants. It is constantly monitored and evaluated. Investor-owned...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Following safety protocols is extremely important. Plants will hire skilled employees who can ensure regulations are being met. As safety concerns continue to rise, wages wil...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Nuclear Power in the US industry in United States in 2024?
The market size of the Nuclear Power in the US industry in United States is $37.2bn in 2024.
How many businesses are there in the Nuclear Power in the US industry in 2024?
There are 41 businesses in the Nuclear Power in the US industry in United States, which has grown at a CAGR of 3.8 % between 2019 and 2024.
Has the Nuclear Power in the US industry in United States grown or declined over the past 5 years?
The market size of the Nuclear Power in the US industry in United States has been declining at a CAGR of 1.3 % between 2019 and 2024.
What is the forecast growth of the Nuclear Power in the US industry in United States over the next 5 years?
Over the next five years, the Nuclear Power in the US industry in United States is expected to decline.
What are the biggest companies in the Nuclear Power in the US market in United States?
The biggest companies operating in the Nuclear Power market in United States are Exelon Corporation, Dominion Energy, Inc. and Entergy Corporation
What does the Nuclear Power in the US in United States include?
Generating nuclear electric power and are part of the Nuclear Power in the US industry.
Which companies have the highest market share in the Nuclear Power in the US in United States?
The company holding the most market share in United States is Exelon Corporation.
How competitive is the Nuclear Power in the US industry in United States?
The level of competition is moderate and increasing in the Nuclear Power in the US industry in United States.
