While the US maintained the world’s largest operational fleet of nuclear reactors, China now accounted for nearly half of all those under construction globally and was expected to match American capacity within five years, Gavekal Technologies said on Monday.
“By a wide margin, China will have the world’s most dynamic and significant nuclear industry through 2035,” Damien Ma, the firm’s new energy lead analyst, wrote in the report.
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Beijing has identified nuclear power as a crucial energy source in its latest five-year plan, targeting 110 gigawatts (GW) of installed capacity by 2030. By April, China had 36 new reactors under construction, state broadcaster CCTV reported.
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By contrast, the US was seeking to maintain its dominance in the industry after decades of stagnant growth, with only three new reactors coming online since 1996, according to the US Energy Information Administration.