Fusion Energy Market Is Expected to Reach $840.3 Billion by 2040: Allied Market Research
Growing demand for electricity due to rapid urbanization and need for electrification in vehicles, space cooling, large appliances, ICT, and others drive the growth of the global fusion energy market. Region-wise, the market in North America is likely to dominate in terms of revenue during the forecast period. Based on technology, the magnetic confinement segment accounted for nearly 90% of the global fusion energy market and would dominate the market in 2040.
Portland, OR, March 06, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global fusion energy market generated $429.6 billion in 2030, and is estimated to reach $840.3 billion by 2040, witnessing a CAGR of 6.9% from 2031 to 2040. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
Report Coverage | Details |
Forecast Period | 2031–2040 |
Base Year | 2030 |
Market Size in 2030 | $429.6 billion |
Market Size in 2040 | $840.3 billion |
CAGR | 6.9% |
No. of Pages in Report | 182 |
Segments Covered | Technology, Fuels, and Region |
Drivers | Growing demand for electricity due to rapid urbanization and need for electrification in vehicles, space cooling, large appliances, ICT, and others |
The capacity of nuclear energy is much more when compared to other sources of energy | |
Opportunities | Increase in investments for research and development activities and conducting experiments |
Restraints | Fusion reaction cannot be sustained for a longer time period |
The initial costs required for building a fusion reactor are quite high |
The report offers a detailed segmentation of the global fusion energy market based on technology, fuels, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on technology, the magnetic confinement segment held the largest share in 2030, accounting for nearly 90% of the global fusion energy market and would dominate the market through 2040. The same segment is estimated to witness the fastest CAGR of 7.0% during the forecast period. The report also studies the inertial confinement segment.
In terms of fuels, deuterium tritium the segment captured the largest market share of over four-fifths of the global fusion energy market in 2030 and is expected to lead in terms of revenue in 2040. Moreover, the same segment is expected to dominate and achieve the fastest CAGR of 7.0% through 2040. The report also offers an analysis of the segments such as deuterium, deuterium helium 3, and proton boron.
Based on region, the market in North America was the largest in 2030, accounting for two-thirds of the global fusion energy market in 2030 and is expected to dominate in terms of revenue during the forecast period. However, the market in Europe is likely to manifest the highest CAGR of 7.4% from 2031 to 2040. The other regions analyzed in the study include Asia-Pacific and LAMEA.
Leading players of the global fusion energy market analyzed in the research include General Fusion, Helion Energy, Inc., Kyoto Fusioneering Ltd., Hyperjet Fusion Corporation, HB11 Energy Holdings Pty Ltd., Agni Fusion Energy, First Light Fusion, Zap Energy, Inc., TAE Technologies, Inc., Tokamak Energy Ltd., Marvel Fusion, Lockheed Martin Corporation, Commonwealth Fusion Systems, and Renaissance Fusion.
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The report analyzes these key players of the global fusion energy market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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