Nuclear Fuel Market Size(US$)

CAGR 2025-2031
8.5%
Market Size,2031
USD 17,869
Million
Market Snapshot
Source: Secondary research, interviews with experts, and QYResearch analysis
The global market for Nuclear Fuel was estimated to be worth US$ 10423 million in 2024 and is forecast to a readjusted size of US$ 17869 million by 2031 with a CAGR of 8.5% during the forecast period 2025-2031.
The potential shifts in the 2025 U.S. tariff framework pose substantial volatility risks to global markets. This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on Nuclear Fuel cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.
In 2024, global nuclear fuel production reached approximately 801 tons, with an average global market price of around US$13,000 per kilogram. In 2024, the global 's total production capacity of nuclear fuel reached 1,001 tons. The industry average gross profit margin of this product reached 45%.Nuclear fuel refers to special materials that can continuously release large amounts of heat energy through a self-sustaining nuclear fission chain reaction within a nuclear reactor; it is the "energy source" of nuclear power plants. Its core component is fissile nuclides, which undergo fission triggered by neutron bombardment of atomic nuclei, releasing approximately 200 MeV of energy per nucleus. Modern commercial nuclear fuel typically consists of uranium or plutonium oxide sintered into uranium dioxide ceramic pellets, encapsulated within zirconium alloy cladding tubes to form fuel rods, which are then assembled into fuel assemblies. This design effectively accommodates fission products while ensuring the safe removal of heat energy. Nuclear fuel must meet stringent requirements, including high neutron economy, high radiation stability, strong corrosion resistance, and excellent thermophysical properties; its performance directly determines the reactor's safety, economy, and operating efficiency.
Nuclear fuel has developed into a complete system, primarily based on uranium dioxide ceramic fuel, covering various reactor types such as light water reactors, heavy water reactors, and fast reactors. Currently, the most widely used commercial fuel is low-enriched uranium fuel, with uranium-235 enrichment between 2% and 5%, widely used in pressurized water reactors and boiling water reactors; heavy water reactors use natural uranium fuel for efficient utilization. To improve resource utilization, mixed oxide fuels combine uranium and plutonium oxides to achieve plutonium recycling; fourth-generation nuclear energy systems are driving the development of advanced fuels: high-temperature gas-cooled reactors use TRISO-coated fuel particles, whose multi-layered cladding structure can withstand temperatures up to 1600°C; fast neutron reactors use metallic or nitride fuels for fuel breeding; molten salt reactors are exploring fluoride salt liquid fuels for in-situ fueling. These fuels, through precise manufacturing processes and quality control, ensure stable operation under harsh irradiation environments.
Nuclear power fuels are rapidly evolving towards greater safety, economy, and sustainability. Technological innovation focuses on accident-tolerant fuels. New materials such as silicon carbide composite cladding and high-density uranium-silicon compound pellets have increased the fuel's temperature tolerance to over 1500°C, significantly enhancing reactor safety. High burnup fuel design extends the lifespan of a single batch of fuel to over 24 months, improving economic efficiency. Dedicated fuels for Generation IV reactors are a key development focus. Thorium-based fuels can convert thorium-232 to uranium-233, opening up new energy pathways. Transmutation fuels, by incorporating minor actinide nuclides, address the nuclear waste problem at its source. Driven by a closed fuel cycle strategy, future nuclear power fuels will form a multi-layered system encompassing uranium/plutonium cycles and thorium-uranium cycles, supporting the nuclear energy system in achieving the three-in-one goal of "zero-carbon power generation - resource enhancement - waste minimization."
North American market for Nuclear Fuel was valued at $ million in 2024 and will reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
Asia-Pacific market for Nuclear Fuel was valued at $ million in 2024 and will reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
Europe market for Nuclear Fuel was valued at $ million in 2024 and will reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
The global key companies of Nuclear Fuel include ROSATOM, GE Vernova, Cameco, KEPCO Nuclear Fuel (KNF), Framatome, Advanced Nuclear Fuels (ANF), Westinghousenu Clear, Mitsubishi Heavy Industries, Ltd., Chinergy, Urenco Global, etc. In 2024, the global five largest players hold a share approximately % in terms of revenue.
This report aims to provide a comprehensive presentation of the global market for Nuclear Fuel, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Nuclear Fuel by region & country, by Nuclear Fuel Forms, and by Application.
The Nuclear Fuel market size, estimations, and forecasts are provided in terms of sales volume (Tons) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Nuclear Fuel.
Market Segmentation
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Nuclear Fuel manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Nuclear Fuel Forms, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Nuclear Fuel in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Nuclear Fuel in country level. It provides sigmate data by Nuclear Fuel Forms, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
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Table of Contents
1 Market Overview
1.1 Nuclear Fuel Product Introduction
1.2 Global Nuclear Fuel Market Size Forecast
1.2.1 Global Nuclear Fuel Sales Value (2020-2031)
1.2.2 Global Nuclear Fuel Sales Volume (2020-2031)
1.2.3 Global Nuclear Fuel Sales Price (2020-2031)
1.3 Nuclear Fuel Market Trends & Drivers
1.3.1 Nuclear Fuel Industry Trends
1.3.2 Nuclear Fuel Market Drivers & Opportunity
1.3.3 Nuclear Fuel Market Challenges
1.3.4 Nuclear Fuel Market Restraints
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Competitive Analysis by Company
2.1 Global Nuclear Fuel Players Revenue Ranking (2024)
2.2 Global Nuclear Fuel Revenue by Company (2020-2025)
2.3 Global Nuclear Fuel Players Sales Volume Ranking (2024)
2.4 Global Nuclear Fuel Sales Volume by Company Players (2020-2025)
2.5 Global Nuclear Fuel Average Price by Company (2020-2025)
2.6 Key Manufacturers Nuclear Fuel Manufacturing Base and Headquarters
2.7 Key Manufacturers Nuclear Fuel Product Offered
2.8 Key Manufacturers Time to Begin Mass Production of Nuclear Fuel
2.9 Nuclear Fuel Market Competitive Analysis
2.9.1 Nuclear Fuel Market Concentration Rate (2020-2025)
2.9.2 Global 5 and 10 Largest Manufacturers by Nuclear Fuel Revenue in 2024
2.9.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Nuclear Fuel as of 2024)
2.10 Mergers & Acquisitions, Expansion
3 Segmentation by Nuclear Fuel Forms
3.1 Introduction by Nuclear Fuel Forms
3.1.1 Solid Fuel
3.1.2 Liquid Fuel
3.2 Global Nuclear Fuel Sales Value by Nuclear Fuel Forms
3.2.1 Global Nuclear Fuel Sales Value by Nuclear Fuel Forms (2020 VS 2024 VS 2031)
3.2.2 Global Nuclear Fuel Sales Value, by Nuclear Fuel Forms (2020-2031)
3.2.3 Global Nuclear Fuel Sales Value, by Nuclear Fuel Forms (%) (2020-2031)
3.3 Global Nuclear Fuel Sales Volume by Nuclear Fuel Forms
3.3.1 Global Nuclear Fuel Sales Volume by Nuclear Fuel Forms (2020 VS 2024 VS 2031)
3.3.2 Global Nuclear Fuel Sales Volume, by Nuclear Fuel Forms (2020-2031)
3.3.3 Global Nuclear Fuel Sales Volume, by Nuclear Fuel Forms (%) (2020-2031)
3.4 Global Nuclear Fuel Average Price by Nuclear Fuel Forms (2020-2031)
4 Segmentation by Fission Fuel Types
4.1 Introduction by Fission Fuel Types
4.1.1 Uranium Fuel
4.1.2 Plutonium Fuel
4.1.3 Thorium Fuel
4.2 Global Nuclear Fuel Sales Value by Fission Fuel Types
4.2.1 Global Nuclear Fuel Sales Value by Fission Fuel Types (2020 VS 2024 VS 2031)
4.2.2 Global Nuclear Fuel Sales Value, by Fission Fuel Types (2020-2031)
4.2.3 Global Nuclear Fuel Sales Value, by Fission Fuel Types (%) (2020-2031)
4.3 Global Nuclear Fuel Sales Volume by Fission Fuel Types
4.3.1 Global Nuclear Fuel Sales Volume by Fission Fuel Types (2020 VS 2024 VS 2031)
4.3.2 Global Nuclear Fuel Sales Volume, by Fission Fuel Types (2020-2031)
4.3.3 Global Nuclear Fuel Sales Volume, by Fission Fuel Types (%) (2020-2031)
4.4 Global Nuclear Fuel Average Price by Fission Fuel Types (2020-2031)
5 Segmentation by Chemical Forms
5.1 Introduction by Chemical Forms
5.1.1 Metallic Fuels
5.1.2 Ceramic Fuels
5.1.3 Dispersed Fuels
5.2 Global Nuclear Fuel Sales Value by Chemical Forms
5.2.1 Global Nuclear Fuel Sales Value by Chemical Forms (2020 VS 2024 VS 2031)
5.2.2 Global Nuclear Fuel Sales Value, by Chemical Forms (2020-2031)
5.2.3 Global Nuclear Fuel Sales Value, by Chemical Forms (%) (2020-2031)
5.3 Global Nuclear Fuel Sales Volume by Chemical Forms
5.3.1 Global Nuclear Fuel Sales Volume by Chemical Forms (2020 VS 2024 VS 2031)
5.3.2 Global Nuclear Fuel Sales Volume, by Chemical Forms (2020-2031)
5.3.3 Global Nuclear Fuel Sales Volume, by Chemical Forms (%) (2020-2031)
5.4 Global Nuclear Fuel Average Price by Chemical Forms (2020-2031)
6 Segmentation by Application
6.1 Introduction by Application
6.1.1 Nuclear Power Generation
6.1.2 Nuclear Propulsion
6.1.3 Others
6.2 Global Nuclear Fuel Sales Value by Application
6.2.1 Global Nuclear Fuel Sales Value by Application (2020 VS 2024 VS 2031)
6.2.2 Global Nuclear Fuel Sales Value, by Application (2020-2031)
6.2.3 Global Nuclear Fuel Sales Value, by Application (%) (2020-2031)
6.3 Global Nuclear Fuel Sales Volume by Application
6.3.1 Global Nuclear Fuel Sales Volume by Application (2020 VS 2024 VS 2031)
6.3.2 Global Nuclear Fuel Sales Volume, by Application (2020-2031)
6.3.3 Global Nuclear Fuel Sales Volume, by Application (%) (2020-2031)
6.4 Global Nuclear Fuel Average Price by Application (2020-2031)
7 Segmentation by Region
7.1 Global Nuclear Fuel Sales Value by Region
7.1.1 Global Nuclear Fuel Sales Value by Region: 2020 VS 2024 VS 2031
7.1.2 Global Nuclear Fuel Sales Value by Region (2020-2025)
7.1.3 Global Nuclear Fuel Sales Value by Region (2026-2031)
7.1.4 Global Nuclear Fuel Sales Value by Region (%), (2020-2031)
7.2 Global Nuclear Fuel Sales Volume by Region
7.2.1 Global Nuclear Fuel Sales Volume by Region: 2020 VS 2024 VS 2031
7.2.2 Global Nuclear Fuel Sales Volume by Region (2020-2025)
7.2.3 Global Nuclear Fuel Sales Volume by Region (2026-2031)
7.2.4 Global Nuclear Fuel Sales Volume by Region (%), (2020-2031)
7.3 Global Nuclear Fuel Average Price by Region (2020-2031)
7.4 North America
7.4.1 North America Nuclear Fuel Sales Value, 2020-2031
7.4.2 North America Nuclear Fuel Sales Value by Country (%), 2024 VS 2031
7.5 Europe
7.5.1 Europe Nuclear Fuel Sales Value, 2020-2031
7.5.2 Europe Nuclear Fuel Sales Value by Country (%), 2024 VS 2031
7.6 Asia Pacific
7.6.1 Asia Pacific Nuclear Fuel Sales Value, 2020-2031
7.6.2 Asia Pacific Nuclear Fuel Sales Value by Region (%), 2024 VS 2031
7.7 South America
7.7.1 South America Nuclear Fuel Sales Value, 2020-2031
7.7.2 South America Nuclear Fuel Sales Value by Country (%), 2024 VS 2031
7.8 Middle East & Africa
7.8.1 Middle East & Africa Nuclear Fuel Sales Value, 2020-2031
7.8.2 Middle East & Africa Nuclear Fuel Sales Value by Country (%), 2024 VS 2031
8 Segmentation by Key Countries/Regions
8.1 Key Countries/Regions Nuclear Fuel Sales Value Growth Trends, 2020 VS 2024 VS 2031
8.2 Key Countries/Regions Nuclear Fuel Sales Value and Sales Volume
8.2.1 Key Countries/Regions Nuclear Fuel Sales Value, 2020-2031
8.2.2 Key Countries/Regions Nuclear Fuel Sales Volume, 2020-2031
8.3 United States
8.3.1 United States Nuclear Fuel Sales Value, 2020-2031
8.3.2 United States Nuclear Fuel Sales Value by Nuclear Fuel Forms (%), 2024 VS 2031
8.3.3 United States Nuclear Fuel Sales Value by Application, 2024 VS 2031
8.4 Europe
8.4.1 Europe Nuclear Fuel Sales Value, 2020-2031
8.4.2 Europe Nuclear Fuel Sales Value by Nuclear Fuel Forms (%), 2024 VS 2031
8.4.3 Europe Nuclear Fuel Sales Value by Application, 2024 VS 2031
8.5 China
8.5.1 China Nuclear Fuel Sales Value, 2020-2031
8.5.2 China Nuclear Fuel Sales Value by Nuclear Fuel Forms (%), 2024 VS 2031
8.5.3 China Nuclear Fuel Sales Value by Application, 2024 VS 2031
8.6 Japan
8.6.1 Japan Nuclear Fuel Sales Value, 2020-2031
8.6.2 Japan Nuclear Fuel Sales Value by Nuclear Fuel Forms (%), 2024 VS 2031
8.6.3 Japan Nuclear Fuel Sales Value by Application, 2024 VS 2031
8.7 South Korea
8.7.1 South Korea Nuclear Fuel Sales Value, 2020-2031
8.7.2 South Korea Nuclear Fuel Sales Value by Nuclear Fuel Forms (%), 2024 VS 2031
8.7.3 South Korea Nuclear Fuel Sales Value by Application, 2024 VS 2031
8.8 Southeast Asia
8.8.1 Southeast Asia Nuclear Fuel Sales Value, 2020-2031
8.8.2 Southeast Asia Nuclear Fuel Sales Value by Nuclear Fuel Forms (%), 2024 VS 2031
8.8.3 Southeast Asia Nuclear Fuel Sales Value by Application, 2024 VS 2031
8.9 India
8.9.1 India Nuclear Fuel Sales Value, 2020-2031
8.9.2 India Nuclear Fuel Sales Value by Nuclear Fuel Forms (%), 2024 VS 2031
8.9.3 India Nuclear Fuel Sales Value by Application, 2024 VS 2031
9 Company Profiles
9.1 ROSATOM
9.1.1 ROSATOM Company Information
9.1.2 ROSATOM Introduction and Business Overview
9.1.3 ROSATOM Nuclear Fuel Sales, Revenue, Price and Gross Margin (2020-2025)
9.1.4 ROSATOM Nuclear Fuel Product Offerings
9.1.5 ROSATOM Recent Development
9.2 GE Vernova
9.2.1 GE Vernova Company Information
9.2.2 GE Vernova Introduction and Business Overview
9.2.3 GE Vernova Nuclear Fuel Sales, Revenue, Price and Gross Margin (2020-2025)
9.2.4 GE Vernova Nuclear Fuel Product Offerings
9.2.5 GE Vernova Recent Development
9.3 Cameco
9.3.1 Cameco Company Information
9.3.2 Cameco Introduction and Business Overview
9.3.3 Cameco Nuclear Fuel Sales, Revenue, Price and Gross Margin (2020-2025)
9.3.4 Cameco Nuclear Fuel Product Offerings
9.3.5 Cameco Recent Development
9.4 KEPCO Nuclear Fuel (KNF)
9.4.1 KEPCO Nuclear Fuel (KNF) Company Information
9.4.2 KEPCO Nuclear Fuel (KNF) Introduction and Business Overview
9.4.3 KEPCO Nuclear Fuel (KNF) Nuclear Fuel Sales, Revenue, Price and Gross Margin (2020-2025)
9.4.4 KEPCO Nuclear Fuel (KNF) Nuclear Fuel Product Offerings
9.4.5 KEPCO Nuclear Fuel (KNF) Recent Development
9.5 Framatome
9.5.1 Framatome Company Information
9.5.2 Framatome Introduction and Business Overview
9.5.3 Framatome Nuclear Fuel Sales, Revenue, Price and Gross Margin (2020-2025)
9.5.4 Framatome Nuclear Fuel Product Offerings
9.5.5 Framatome Recent Development
9.6 Advanced Nuclear Fuels (ANF)
9.6.1 Advanced Nuclear Fuels (ANF) Company Information
9.6.2 Advanced Nuclear Fuels (ANF) Introduction and Business Overview
9.6.3 Advanced Nuclear Fuels (ANF) Nuclear Fuel Sales, Revenue, Price and Gross Margin (2020-2025)
9.6.4 Advanced Nuclear Fuels (ANF) Nuclear Fuel Product Offerings
9.6.5 Advanced Nuclear Fuels (ANF) Recent Development
9.7 Westinghousenu Clear
9.7.1 Westinghousenu Clear Company Information
9.7.2 Westinghousenu Clear Introduction and Business Overview
9.7.3 Westinghousenu Clear Nuclear Fuel Sales, Revenue, Price and Gross Margin (2020-2025)
9.7.4 Westinghousenu Clear Nuclear Fuel Product Offerings
9.7.5 Westinghousenu Clear Recent Development
9.8 Mitsubishi Heavy Industries, Ltd.
9.8.1 Mitsubishi Heavy Industries, Ltd. Company Information
9.8.2 Mitsubishi Heavy Industries, Ltd. Introduction and Business Overview
9.8.3 Mitsubishi Heavy Industries, Ltd. Nuclear Fuel Sales, Revenue, Price and Gross Margin (2020-2025)
9.8.4 Mitsubishi Heavy Industries, Ltd. Nuclear Fuel Product Offerings
9.8.5 Mitsubishi Heavy Industries, Ltd. Recent Development
9.9 Chinergy
9.9.1 Chinergy Company Information
9.9.2 Chinergy Introduction and Business Overview
9.9.3 Chinergy Nuclear Fuel Sales, Revenue, Price and Gross Margin (2020-2025)
9.9.4 Chinergy Nuclear Fuel Product Offerings
9.9.5 Chinergy Recent Development
9.10 Urenco Global
9.10.1 Urenco Global Company Information
9.10.2 Urenco Global Introduction and Business Overview
9.10.3 Urenco Global Nuclear Fuel Sales, Revenue, Price and Gross Margin (2020-2025)
9.10.4 Urenco Global Nuclear Fuel Product Offerings
9.10.5 Urenco Global Recent Development
9.11 Centrus Energy Corp
9.11.1 Centrus Energy Corp Company Information
9.11.2 Centrus Energy Corp Introduction and Business Overview
9.11.3 Centrus Energy Corp Nuclear Fuel Sales, Revenue, Price and Gross Margin (2020-2025)
9.11.4 Centrus Energy Corp Nuclear Fuel Product Offerings
9.11.5 Centrus Energy Corp Recent Development
9.12 Orano
9.12.1 Orano Company Information
9.12.2 Orano Introduction and Business Overview
9.12.3 Orano Nuclear Fuel Sales, Revenue, Price and Gross Margin (2020-2025)
9.12.4 Orano Nuclear Fuel Product Offerings
9.12.5 Orano Recent Development
9.13 Nuclear Fuel Services (NFS)
9.13.1 Nuclear Fuel Services (NFS) Company Information
9.13.2 Nuclear Fuel Services (NFS) Introduction and Business Overview
9.13.3 Nuclear Fuel Services (NFS) Nuclear Fuel Sales, Revenue, Price and Gross Margin (2020-2025)
9.13.4 Nuclear Fuel Services (NFS) Nuclear Fuel Product Offerings
9.13.5 Nuclear Fuel Services (NFS) Recent Development
9.14 Cameco Fuel Manufacturing Inc
9.14.1 Cameco Fuel Manufacturing Inc Company Information
9.14.2 Cameco Fuel Manufacturing Inc Introduction and Business Overview
9.14.3 Cameco Fuel Manufacturing Inc Nuclear Fuel Sales, Revenue, Price and Gross Margin (2020-2025)
9.14.4 Cameco Fuel Manufacturing Inc Nuclear Fuel Product Offerings
9.14.5 Cameco Fuel Manufacturing Inc Recent Development
9.15 Nuclear Fuel Industries,Ltd
9.15.1 Nuclear Fuel Industries,Ltd Company Information
9.15.2 Nuclear Fuel Industries,Ltd Introduction and Business Overview
9.15.3 Nuclear Fuel Industries,Ltd Nuclear Fuel Sales, Revenue, Price and Gross Margin (2020-2025)
9.15.4 Nuclear Fuel Industries,Ltd Nuclear Fuel Product Offerings
9.15.5 Nuclear Fuel Industries,Ltd Recent Development
9.16 BWX Technologies
9.16.1 BWX Technologies Company Information
9.16.2 BWX Technologies Introduction and Business Overview
9.16.3 BWX Technologies Nuclear Fuel Sales, Revenue, Price and Gross Margin (2020-2025)
9.16.4 BWX Technologies Nuclear Fuel Product Offerings
9.16.5 BWX Technologies Recent Development
10 Industry Chain Analysis
10.1 Nuclear Fuel Industrial Chain
10.2 Nuclear Fuel Upstream Analysis
10.2.1 Key Raw Materials
10.2.2 Raw Materials Key Suppliers
10.2.3 Manufacturing Cost Structure
10.3 Midstream Analysis
10.4 Downstream Analysis (Customers Analysis)
10.5 Sales Model and Sales Channels
10.5.1 Nuclear Fuel Sales Model
10.5.2 Sales Channel
10.5.3 Nuclear Fuel Distributors
11 Research Findings and Conclusion
12 Appendix
12.1 Research Methodology
12.1.1 Methodology/Research Approach
12.1.1.1 Research Programs/Design
12.1.1.2 Market Size Estimation
12.1.1.3 Market Breakdown and Data Triangulation
12.1.2 Data Source
12.1.2.1 Secondary Sources
12.1.2.2 Primary Sources
12.2 Author Details
12.3 Disclaimer
Table of Figures
List of Tables
List of Figures
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The global Nuclear Fuel market size was US$ 10423 million in 2024 and is forecast to a readjusted size of US$ 17869 million by 2031 with a CAGR of 8.5% during the forecast period 2025-2031.
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