Fusion Energy Market
Fusion Energy Market Forecasts to 2030 - Global Analysis By Fuel (Deuterium, Deuterium Tritium, Deuterium Helium 3 and Proton Boron), Technology (Inertial Confinement and Magnetic Confinement) and By Geography
According to Stratistics MRC, the Global Fusion Energy Market is accounted for $306.8 billion in 2023 and is expected to reach $575.5 billion by 2030 growing at a CAGR of 9.4% during the forecast period. Nuclear fusion results in the production of fusion energy. The same thing occurs when exposed to the sun. The sun is powered by the ongoing nuclear fusion, which is why it emits energy even if it lacks oxygen. In today's world, energy is a basic necessity. When two or more light nuclei combine, a reaction is created that releases a huge quantity of energy. As a result of the process's mass differences, this energy is produced. Clean, secure, and ecologically friendly energy is generated.
According to an article from International Energy Forum, nuclear fusion is capable of producing energy that is 4 million times more than energy generated from coal, oil, and gas.
Market Dynamics:
Driver:
Increasing need for renewable and clean energy sources
There is an increasing need for alternative energy sources that are secure, dependable, and environmentally responsible as people become increasingly aware of the negative effects that conventional energy sources like fossil fuels have on the environment. Fusion energy has the ability to satisfy these requirements since it creates electricity by utilising nuclear fusion, which generates no greenhouse gas emissions or radioactive waste with a long half-life. As a result, there is an increase in funding for fusion energy market research and development as well as plans to construct large-scale fusion power plants.
Restraint:
Risks associated with fusion energy
The difficulty of regulatory and public approval is another one, as there can be doubts about the security and the dangers of operating fusion power facilities. Strong competition from renewable energy is reducing FDI, and market expansion is anticipated to be hampered by investments in the nuclear power sector across a number of locations. These elements might prevent fusion energy technology from becoming widely used and postpone its commercialization.
Opportunity:
Development and deployment of fusion energy technology
Another challenge is getting regulatory and public clearance because there may be concerns about the safety and risks of operating fusion power stations. Strong competition from renewable energy is lowering FDI, and it is projected that investments in the nuclear power sector in a number of places would hinder market expansion. These factors could delay the commercialization of fusion energy technology and prevent it from becoming extensively used.
Threat:
High cost and technical complexity
Fusion energy technology development and implementation are expensive and technically complex. In order to start and maintain the fusion processes, fusion energy needs extremely high temperatures and pressures, which calls for sophisticated materials and intricate engineering solutions. Some investors and governments might be discouraged from pursuing fusion energy as a practical energy source due to the high expense and technical complexity of creating the technology.
Covid-19 Impact
Global supply lines were significantly disrupted by the Covid-19 outbreak. Both the supply and demand sides of the nuclear power and fuel industries were impacted by the epidemic. Since some mines and nuclear fuel cycle facilities stopped operating due to health concerns, the impact on the supply side of the uranium market was felt most acutely in the short term. However, the use of available nuclear power capacity provided dependable, low-emission electricity throughout the outbreak.
The deuterium helium 3 segment is expected to be the largest during the forecast period
The deuterium helium 3 segment is estimated to have a lucrative growth. The deuterium helium-3 reaction necessitates the use of helium-3, an isotope of helium that is so scarce on earth that it would have to be mined from space or produced through other nuclear reactions. The protium/boron-11 combination can yield side reactions, but it does not directly produce neutrons, which is why researchers want to use it in the future. The main fuels for nuclear fusion are the heavier isotopes of hydrogen deuterium and tritium.
The inertial confinement segment is expected to have the highest CAGR during the forecast period
The inertial confinement segment is anticipated to witness the fastest CAGR growth during the forecast period. Inertial confinement devices compress sized deuterium tritium fuels pellet to exceptionally high densities using ion or laser beams. When a crucial threshold is reached, the shock wave heating ignites the pellet. This method might be used to create a fusion power plant that could ignite fuel pellets several times per second. The steam produced by the heat is then used to power energy-generating turbines.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to projected global population growth as well as the economic and industrial growth of developing countries. Excellent nuclear fusion technology activities are also being carried out in the region. The entry of new competitors joining the market is likely to contribute significantly to the region's growth over the forecast period.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period. Nuclear fusion could become the primary source of energy in the second half of this century, and Europe is well-positioned to lead the way if its resources are managed properly. The development of this area is credited to the existence of numerous public and commercial groups that are actively working to advance fusion power research and increase investments in the construction of new power facilities.
Key players in the market
Some of the key players profiled in the Fusion Energy Market 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, Renaissance Fusion, Thermonuclear Experimental Reactor (ITER) and National Ignition Facility (NIF).
Key Developments:
In May 2023, Helion Energy (Helion) today announced an agreement to provide Microsoft electricity from its first fusion power plant. Constellation will serve as the power marketer and will manage transmission for the project.
In November 2022, Canadian Nuclear Laboratories (CNL) and General Fusion announced that they have signed a Memorandum of Understanding (MOU) to pursue a series of joint projects to accelerate the deployment of commercial fusion power in Canada.
Fuels Covered:
• Deuterium
• Deuterium Tritium
• Deuterium Helium 3
• Proton Boron
Technologies Covered:
• Inertial Confinement
• Magnetic Confinement
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Fusion Energy Market, By Fuel
5.1 Introduction
5.2 Deuterium
5.3 Deuterium Tritium
5.4 Deuterium Helium 3
5.5 Proton Boron
6 Global Fusion Energy Market, By Technology
6.1 Introduction
6.2 Inertial Confinement
6.3 Magnetic Confinement
7 Global Fusion Energy Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 General Fusion
9.2 Helion Energy Inc.
9.3 Kyoto Fusioneering Ltd.
9.4 Hyperjet Fusion Corporation
9.5 HB11 Energy Holdings Pty Ltd
9.6 Agni Fusion Energy
9.7 First Light Fusion
9.8 Zap Energy Inc.
9.9 TAE Technologies, Inc.
9.10 Tokamak Energy Ltd.
9.11 Marvel Fusion
9.12 Lockheed Martin Corporation
9.13 Commonwealth Fusion Systems
9.14 Renaissance Fusion
9.15 Thermonuclear Experimental Reactor (ITER)
9.16 National Ignition Facility (NIF)
List of Tables
1 Global Fusion Energy Market Outlook, By Region (2021-2030) ($MN)
2 Global Fusion Energy Market Outlook, By Fuel (2021-2030) ($MN)
3 Global Fusion Energy Market Outlook, By Deuterium (2021-2030) ($MN)
4 Global Fusion Energy Market Outlook, By Deuterium Tritium (2021-2030) ($MN)
5 Global Fusion Energy Market Outlook, By Deuterium Helium 3 (2021-2030) ($MN)
6 Global Fusion Energy Market Outlook, By Proton Boron (2021-2030) ($MN)
7 Global Fusion Energy Market Outlook, By Technology (2021-2030) ($MN)
8 Global Fusion Energy Market Outlook, By Inertial Confinement (2021-2030) ($MN)
9 Global Fusion Energy Market Outlook, By Magnetic Confinement (2021-2030) ($MN)
10 North America Fusion Energy Market Outlook, By Country (2021-2030) ($MN)
11 North America Fusion Energy Market Outlook, By Fuel (2021-2030) ($MN)
12 North America Fusion Energy Market Outlook, By Deuterium (2021-2030) ($MN)
13 North America Fusion Energy Market Outlook, By Deuterium Tritium (2021-2030) ($MN)
14 North America Fusion Energy Market Outlook, By Deuterium Helium 3 (2021-2030) ($MN)
15 North America Fusion Energy Market Outlook, By Proton Boron (2021-2030) ($MN)
16 North America Fusion Energy Market Outlook, By Technology (2021-2030) ($MN)
17 North America Fusion Energy Market Outlook, By Inertial Confinement (2021-2030) ($MN)
18 North America Fusion Energy Market Outlook, By Magnetic Confinement (2021-2030) ($MN)
19 Europe Fusion Energy Market Outlook, By Country (2021-2030) ($MN)
20 Europe Fusion Energy Market Outlook, By Fuel (2021-2030) ($MN)
21 Europe Fusion Energy Market Outlook, By Deuterium (2021-2030) ($MN)
22 Europe Fusion Energy Market Outlook, By Deuterium Tritium (2021-2030) ($MN)
23 Europe Fusion Energy Market Outlook, By Deuterium Helium 3 (2021-2030) ($MN)
24 Europe Fusion Energy Market Outlook, By Proton Boron (2021-2030) ($MN)
25 Europe Fusion Energy Market Outlook, By Technology (2021-2030) ($MN)
26 Europe Fusion Energy Market Outlook, By Inertial Confinement (2021-2030) ($MN)
27 Europe Fusion Energy Market Outlook, By Magnetic Confinement (2021-2030) ($MN)
28 Asia Pacific Fusion Energy Market Outlook, By Country (2021-2030) ($MN)
29 Asia Pacific Fusion Energy Market Outlook, By Fuel (2021-2030) ($MN)
30 Asia Pacific Fusion Energy Market Outlook, By Deuterium (2021-2030) ($MN)
31 Asia Pacific Fusion Energy Market Outlook, By Deuterium Tritium (2021-2030) ($MN)
32 Asia Pacific Fusion Energy Market Outlook, By Deuterium Helium 3 (2021-2030) ($MN)
33 Asia Pacific Fusion Energy Market Outlook, By Proton Boron (2021-2030) ($MN)
34 Asia Pacific Fusion Energy Market Outlook, By Technology (2021-2030) ($MN)
35 Asia Pacific Fusion Energy Market Outlook, By Inertial Confinement (2021-2030) ($MN)
36 Asia Pacific Fusion Energy Market Outlook, By Magnetic Confinement (2021-2030) ($MN)
37 South America Fusion Energy Market Outlook, By Country (2021-2030) ($MN)
38 South America Fusion Energy Market Outlook, By Fuel (2021-2030) ($MN)
39 South America Fusion Energy Market Outlook, By Deuterium (2021-2030) ($MN)
40 South America Fusion Energy Market Outlook, By Deuterium Tritium (2021-2030) ($MN)
41 South America Fusion Energy Market Outlook, By Deuterium Helium 3 (2021-2030) ($MN)
42 South America Fusion Energy Market Outlook, By Proton Boron (2021-2030) ($MN)
43 South America Fusion Energy Market Outlook, By Technology (2021-2030) ($MN)
44 South America Fusion Energy Market Outlook, By Inertial Confinement (2021-2030) ($MN)
45 South America Fusion Energy Market Outlook, By Magnetic Confinement (2021-2030) ($MN)
46 Middle East & Africa Fusion Energy Market Outlook, By Country (2021-2030) ($MN)
47 Middle East & Africa Fusion Energy Market Outlook, By Fuel (2021-2030) ($MN)
48 Middle East & Africa Fusion Energy Market Outlook, By Deuterium (2021-2030) ($MN)
49 Middle East & Africa Fusion Energy Market Outlook, By Deuterium Tritium (2021-2030) ($MN)
50 Middle East & Africa Fusion Energy Market Outlook, By Deuterium Helium 3 (2021-2030) ($MN)
51 Middle East & Africa Fusion Energy Market Outlook, By Proton Boron (2021-2030) ($MN)
52 Middle East & Africa Fusion Energy Market Outlook, By Technology (2021-2030) ($MN)
53 Middle East & Africa Fusion Energy Market Outlook, By Inertial Confinement (2021-2030) ($MN)
54 Middle East & Africa Fusion Energy Market Outlook, By Magnetic Confinement (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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