According to HTF Market Intelligence, the global Thorium Reactor market is valued at USD N/A Billion in 2024 and estimated to reach a revenue of USD 2.9 Billion by 2031, with a CAGR of 28% from 2024 to 2031.

Thorium Reactor Market Overview

A thorium reactor is a type of nuclear reactor that uses thorium as fuel instead of uranium. Thorium has a higher safety profile and produces less radioactive waste than conventional uranium reactors. Thorium reactors have the potential to offer safer, more sustainable, and efficient nuclear energy generation. However, the technology is still in the developmental stage and faces challenges such as regulatory acceptance and high initial costs.

Some of the companies listed in the study from the complete survey list are ThorCon Power (United States), Moltex Energy (United Kingdom), Copenhagen Atomics (Denmark), Terrestrial Energy (Canada), Flibe Energy (United States), Lightbridge Corporation (United States), Thorium Power Canada (Canada), Kairos Power (United States), Shanghai Institute of Applied Physics (SINAP) (China), Bhabha Atomic Research Centre (BARC) (India), China National Nuclear Corporation (CNNC) (China), General Atomics (United States), Idaho National Laboratory (INL) (United States).

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Market Trends

●Increased investment in R&D for thorium-based technologies is leading to innovative reactor designs and improved safety features.

Market Drivers

●The global shift toward sustainable and clean energy sources drives interest in thorium reactors as a safer alternative to conventional nuclear power.

Market Opportunities:

●Collaborating with research institutions and governments can accelerate the development of thorium reactor technologies and commercial applications.

Thorium Reactor Market Segmentation

The Thorium Reactor Market is Segmented by Application (Power Generation, Medical Isotopes Production, Industrial Heating, Research and Development) by Reactor Type (Molten Salt Reactors (MSR), Liquid-Fluoride Thorium Reactors (LFTR), Accelerator Driven Reactors, Pebble Bed Reactors) and by Geography (North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)

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