The Uranium Market to grow at a CAGR of 7.06% from 2022 to 2027|Rise in the adoption of uranium in nuclear weapons to boost market growth

NEW YORK, July 31, 2023 /PRNewswire/ — The uranium market is estimated to increase by USD 1,600.05 million from 2022 to 2027, with a CAGR of 7.06%, according to a recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report –Request a sample report

Uranium Market 2023-2027 – Vendor Scope

The uranium market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below –

A Cap Energy Ltd., Altius Minerals Corp., Aurora Energy Metals, Berkeley Energia Ltd., Cameco Corp., CGN Mining Co. Ltd., China National Nuclear Corp., Deep Yellow Ltd., Denison Mines Corp., Energy Fuels Inc., Fission Uranium Corp., National Atomic Co. Kazatomprom Joint Stock Co., Orano, Paladin Energy Ltd., Peninsula Energy Ltd., Rio Tinto Ltd., State Atomic Energy Corp. Rosatom, State Enterprise Eastern Mining and Processing Plant, Sumitomo Corp., and Uranium Energy Corp. Download the Sample

Chart & Data Table on 5-Year Historic (2017-2021) Market Size, Comparative Analysis of Segments, and Y-O-Y Growth of Uranium Market

Uranium Market 2023-2027: Segmentation

The market is segmented by end-user (energy, military, and others), source (primary and secondary), and Geography (North America, APAC, South America, Middle East and Africa, and Europe)

The market share growth by the energy segment will be significant during the forecast period. Uranium serves as an important fuel source for nuclear power plants that power homes and businesses around the world. Demand for uranium has increased significantly as countries seek to reduce their dependence on fossil fuels. Furthermore, the growing awareness of the environmental impact of carbon emissions is calling for cleaner alternatives to energy production, making nuclear power one of the key options to meet this need. Hence, these factors are expected to drive segment growth during the forecast period.
Europe is estimated to contribute 36% to the growth of the global market during the forecast period. Another region that is growing at a significant rate in the region is North America. The major uranium producers in North America are the US and Canada. The US is the world’s largest consumer of uranium and has an established nuclear industry that depends heavily on domestic uranium production. In addition, about 20% of the country’s electricity is produced by nuclear power plants, and a steady supply of uranium is required to sustain energy production. Hence, these factors are expected to drive market growth in the region during the forecast period.

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Uranium Market 2023-2027 – Market Dynamics

Key Driver

The rise in the adoption of uranium in nuclear weapons is a key factor driving market growth. Governments worldwide recognize the strategic significance of nuclear weapons, and uranium plays a critical role as a key component in these weapons. Uranium, being a radioactive element, is utilized not only to generate nuclear energy but, more significantly, to create nuclear weapons. Uranium-based weapons offer advantages such as immense destructive power and effectiveness as a deterrent. Therefore, these factors are expected to drive market growth during the forecast period.

Major Trends

The increase in strategic collaboration and M&A is a major trend in the market. Many companies prioritize strategic alliances, mergers, and acquisitions (M&A) to accomplish their business objectives. This trend is gaining popularity across various industries. Companies take these actions to expand their product offerings, enhance market share, and improve their competitiveness. Collaborations prove advantageous as they combine complementary strengths, facilitate the sharing of resources and knowledge, and lead to cost reductions for all parties involved. Hence, these factors are expected to drive market growth during the forecast period.

Significant Challenges

Stringent regulations on uranium mining are a significant challenge restricting market growth. Uranium mining demands stringent regulation to safeguard the environment and public health. Precautionary steps must be implemented to minimize risks like radiation exposure, water contamination, and the dissemination of harmful chemicals. The IAEA has set up radiation protection and safety principles, along with essential requirements that apply to all activities involving radiation exposure, including uranium mining, as per the IAEA Safety Standards Series. Hence, these factors are expected to drive market growth during the forecast period.

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What are the key data covered in this Uranium Market report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the uranium market between 2023 and 2027.
Precise estimation of the uranium market and its contribution to the market with a focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the uranium market across North America, Europe, APAC, Middle East and Africa, and South America
A thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of uranium market vendors.

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Uranium Market Scope
Report Coverage	Details
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 7.06%
Market growth 2023-2027	USD 1,600.05 million
Market structure	Fragmented
YoY growth 2022-2023 (%)	6.58
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	Europe at 36%
Key countries	US, China, South Korea, France, and Russia
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	A Cap Energy Ltd., Altius Minerals Corp., Aurora Energy Metals, Berkeley Energia Ltd., Cameco Corp., CGN Mining Co. Ltd., China National Nuclear Corp., Deep Yellow Ltd., Denison Mines Corp., Energy Fuels Inc., Fission Uranium Corp., National Atomic Co. Kazatomprom Joint Stock Co., Orano, Paladin Energy Ltd., Peninsula Energy Ltd., Rio Tinto Ltd., State Atomic Energy Corp. Rosatom, State Enterprise Eastern Mining and Processing Plant, Sumitomo Corp., and Uranium Energy Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market Overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
Exhibit 06: Executive Summary – Chart on Market Segmentation by Source
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global uranium market 2017 – 2021

Exhibit 18: Historic Market Size – Data Table on global uranium market 2017 – 2021 ($ million)

4.2 End-user Segment Analysis 2017 – 2021

Exhibit 19: Historic Market Size – End-user Segment 2017 – 2021 ($ million)

4.3 Source Segment Analysis 2017 – 2021

Exhibit 20: Historic Market Size – Source Segment 2017 – 2021 ($ million)

4.4 Geography Segment Analysis 2017 – 2021

Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

4.5 Country Segment Analysis 2017 – 2021

Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary

Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

5.2 Bargaining power of buyers

Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers

Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants

Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes

Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry

Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition

Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by End-user

6.1 Market segments

Exhibit 30: Chart on End-user – Market share 2022-2027 (%)
Exhibit 31: Data Table on End-user – Market share 2022-2027 (%)

6.2 Comparison by End-user

Exhibit 32: Chart on Comparison by End-user
Exhibit 33: Data Table on Comparison by End-user

6.3 Energy – Market size and forecast 2022-2027

Exhibit 34: Chart on Energy – Market size and forecast 2022-2027 ($ million)
Exhibit 35: Data Table on Energy – Market size and forecast 2022-2027 ($ million)
Exhibit 36: Chart on Energy – Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Energy – Year-over-year growth 2022-2027 (%)

6.4 Military – Market size and forecast 2022-2027

Exhibit 38: Chart on Military – Market size and forecast 2022-2027 ($ million)
Exhibit 39: Data Table on Military – Market size and forecast 2022-2027 ($ million)
Exhibit 40: Chart on Military – Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Military – Year-over-year growth 2022-2027 (%)

6.5 Others – Market size and forecast 2022-2027

Exhibit 42: Chart on Others – Market size and forecast 2022-2027 ($ million)
Exhibit 43: Data Table on Others – Market size and forecast 2022-2027 ($ million)
Exhibit 44: Chart on Others – Year-over-year growth 2022-2027 (%)
Exhibit 45: Data Table on Others – Year-over-year growth 2022-2027 (%)

6.6 Market opportunity by End-user

Exhibit 46: Market opportunity by End-user ($ million)
Exhibit 47: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Source

7.1 Market segments

Exhibit 48: Chart on Source – Market share 2022-2027 (%)
Exhibit 49: Data Table on Source – Market share 2022-2027 (%)

7.2 Comparison by Source

Exhibit 50: Chart on Comparison by Source
Exhibit 51: Data Table on Comparison by Source

7.3 Primary – Market size and forecast 2022-2027

Exhibit 52: Chart on Primary – Market size and forecast 2022-2027 ($ million)
Exhibit 53: Data Table on Primary – Market size and forecast 2022-2027 ($ million)
Exhibit 54: Chart on Primary – Year-over-year growth 2022-2027 (%)
Exhibit 55: Data Table on Primary – Year-over-year growth 2022-2027 (%)

7.4 Secondary – Market size and forecast 2022-2027

Exhibit 56: Chart on Secondary – Market size and forecast 2022-2027 ($ million)
Exhibit 57: Data Table on Secondary – Market size and forecast 2022-2027 ($ million)
Exhibit 58: Chart on Secondary – Year-over-year growth 2022-2027 (%)
Exhibit 59: Data Table on Secondary – Year-over-year growth 2022-2027 (%)

7.5 Market opportunity by Source

Exhibit 60: Market opportunity by Source ($ million)
Exhibit 61: Data Table on Market opportunity by Source ($ million)

8 Customer Landscape

8.1 Customer landscape overview

Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation

Exhibit 63: Chart on Market share by geography 2022-2027 (%)
Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison

Exhibit 65: Chart on Geographic comparison
Exhibit 66: Data Table on Geographic comparison

9.3 North America – Market size and forecast 2022-2027

Exhibit 67: Chart on North America – Market size and forecast 2022-2027 ($ million)
Exhibit 68: Data Table on North America – Market size and forecast 2022-2027 ($ million)
Exhibit 69: Chart on North America – Year-over-year growth 2022-2027 (%)
Exhibit 70: Data Table on North America – Year-over-year growth 2022-2027 (%)

9.4 Europe – Market size and forecast 2022-2027

Exhibit 71: Chart on Europe – Market size and forecast 2022-2027 ($ million)
Exhibit 72: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
Exhibit 73: Chart on Europe – Year-over-year growth 2022-2027 (%)
Exhibit 74: Data Table on Europe – Year-over-year growth 2022-2027 (%)

9.5 APAC – Market size and forecast 2022-2027

Exhibit 75: Chart on APAC – Market size and forecast 2022-2027 ($ million)
Exhibit 76: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
Exhibit 77: Chart on APAC – Year-over-year growth 2022-2027 (%)
Exhibit 78: Data Table on APAC – Year-over-year growth 2022-2027 (%)

9.6 Middle East and Africa – Market size and forecast 2022-2027

Exhibit 79: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
Exhibit 80: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
Exhibit 81: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
Exhibit 82: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

9.7 South America – Market size and forecast 2022-2027

Exhibit 83: Chart on South America – Market size and forecast 2022-2027 ($ million)
Exhibit 84: Data Table on South America – Market size and forecast 2022-2027 ($ million)
Exhibit 85: Chart on South America – Year-over-year growth 2022-2027 (%)
Exhibit 86: Data Table on South America – Year-over-year growth 2022-2027 (%)

9.8 US – Market size and forecast 2022-2027

Exhibit 87: Chart on US – Market size and forecast 2022-2027 ($ million)
Exhibit 88: Data Table on US – Market size and forecast 2022-2027 ($ million)
Exhibit 89: Chart on US – Year-over-year growth 2022-2027 (%)
Exhibit 90: Data Table on US – Year-over-year growth 2022-2027 (%)

9.9 China – Market size and forecast 2022-2027

Exhibit 91: Chart on China – Market size and forecast 2022-2027 ($ million)
Exhibit 92: Data Table on China – Market size and forecast 2022-2027 ($ million)
Exhibit 93: Chart on China – Year-over-year growth 2022-2027 (%)
Exhibit 94: Data Table on China – Year-over-year growth 2022-2027 (%)

9.10 France – Market size and forecast 2022-2027

Exhibit 95: Chart on France – Market size and forecast 2022-2027 ($ million)
Exhibit 96: Data Table on France – Market size and forecast 2022-2027 ($ million)
Exhibit 97: Chart on France – Year-over-year growth 2022-2027 (%)
Exhibit 98: Data Table on France – Year-over-year growth 2022-2027 (%)

9.11 Russia – Market size and forecast 2022-2027

Exhibit 99: Chart on Russia – Market size and forecast 2022-2027 ($ million)
Exhibit 100: Data Table on Russia – Market size and forecast 2022-2027 ($ million)
Exhibit 101: Chart on Russia – Year-over-year growth 2022-2027 (%)
Exhibit 102: Data Table on Russia – Year-over-year growth 2022-2027 (%)

9.12 South Korea – Market size and forecast 2022-2027

Exhibit 103: Chart on South Korea – Market size and forecast 2022-2027 ($ million)
Exhibit 104: Data Table on South Korea – Market size and forecast 2022-2027 ($ million)
Exhibit 105: Chart on South Korea – Year-over-year growth 2022-2027 (%)
Exhibit 106: Data Table on South Korea – Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography

Exhibit 107: Market opportunity by geography ($ million)
Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

Exhibit 109: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption

Exhibit 111: Overview on factors of disruption

11.4 Industry risks

Exhibit 112: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered

Exhibit 113: Vendors covered

12.2 Market positioning of vendors

Exhibit 114: Matrix on vendor position and classification

12.3 A Cap Energy Ltd.

Exhibit 115: A Cap Energy Ltd. – Overview
Exhibit 116: A Cap Energy Ltd. – Product / Service
Exhibit 117: A Cap Energy Ltd. – Key offerings

12.4 Aurora Energy Metals

Exhibit 118: Aurora Energy Metals – Overview
Exhibit 119: Aurora Energy Metals – Product / Service
Exhibit 120: Aurora Energy Metals – Key offerings

12.5 Berkeley Energia Ltd.

Exhibit 121: Berkeley Energia Ltd. – Overview
Exhibit 122: Berkeley Energia Ltd. – Product / Service
Exhibit 123: Berkeley Energia Ltd. – Key offerings

12.6 Cameco Corp.

Exhibit 124: Cameco Corp. – Overview
Exhibit 125: Cameco Corp. – Business segments
Exhibit 126: Cameco Corp. – Key offerings
Exhibit 127: Cameco Corp. – Segment focus

12.7 CGN Mining Co. Ltd.

Exhibit 128: CGN Mining Co. Ltd. – Overview
Exhibit 129: CGN Mining Co. Ltd. – Business segments
Exhibit 130: CGN Mining Co. Ltd. – Key offerings
Exhibit 131: CGN Mining Co. Ltd. – Segment focus

12.8 China National Nuclear Corp.

Exhibit 132: China National Nuclear Corp. – Overview
Exhibit 133: China National Nuclear Corp. – Product / Service
Exhibit 134: China National Nuclear Corp. – Key offerings

12.9 Deep Yellow Ltd.

Exhibit 135: Deep Yellow Ltd. – Overview
Exhibit 136: Deep Yellow Ltd. – Product / Service
Exhibit 137: Deep Yellow Ltd. – Key offerings

12.10 Denison Mines Corp.

Exhibit 138: Denison Mines Corp. – Overview
Exhibit 139: Denison Mines Corp. – Product / Service
Exhibit 140: Denison Mines Corp. – Key offerings

12.11 Energy Fuels Inc.

Exhibit 141: Energy Fuels Inc. – Overview
Exhibit 142: Energy Fuels Inc. – Product / Service
Exhibit 143: Energy Fuels Inc. – Key offerings

12.12 National Atomic Co. Kazatomprom Joint Stock Co.

Exhibit 144: National Atomic Co. Kazatomprom Joint Stock Co. – Overview
Exhibit 145: National Atomic Co. Kazatomprom Joint Stock Co. – Business segments
Exhibit 146: National Atomic Co. Kazatomprom Joint Stock Co. – Key news
Exhibit 147: National Atomic Co. Kazatomprom Joint Stock Co. – Key offerings
Exhibit 148: National Atomic Co. Kazatomprom Joint Stock Co. – Segment focus

12.13 Orano

Exhibit 149: Orano – Overview
Exhibit 150: Orano – Business segments
Exhibit 151: Orano – Key offerings
Exhibit 152: Orano – Segment focus

12.14 Paladin Energy Ltd.

Exhibit 153: Paladin Energy Ltd. – Overview
Exhibit 154: Paladin Energy Ltd. – Product / Service
Exhibit 155: Paladin Energy Ltd. – Key offerings

12.15 Peninsula Energy Ltd.

Exhibit 156: Peninsula Energy Ltd. – Overview
Exhibit 157: Peninsula Energy Ltd. – Product / Service
Exhibit 158: Peninsula Energy Ltd. – Key offerings

12.16 State Enterprise Eastern Mining and Processing Plant

Exhibit 159: State Enterprise Eastern Mining and Processing Plant – Overview
Exhibit 160: State Enterprise Eastern Mining and Processing Plant – Product / Service
Exhibit 161: State Enterprise Eastern Mining and Processing Plant – Key offerings

12.17 Uranium Energy Corp.

Exhibit 162: Uranium Energy Corp. – Overview
Exhibit 163: Uranium Energy Corp. – Product / Service
Exhibit 164: Uranium Energy Corp. – Key offerings

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

Exhibit 165: Inclusions checklist
Exhibit 166: Exclusions checklist

13.3 Currency conversion rates for US$

Exhibit 167: Currency conversion rates for US$

13.4 Research methodology

Exhibit 168: Research methodology
Exhibit 169: Validation techniques employed for market sizing
Exhibit 170: Information sources

13.5 List of abbreviations

Exhibit 171: List of abbreviations

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