The global uranium market is expanding as nuclear power gains momentum, with market value forecast to climb from 9.73 billion dollars in 2025 to 13.59 billion dollars by 2033, a compound annual growth rate of 4.86 percent over the 2026 to 2033 period, according to DataM Intelligence.

Production is expected to scale up dramatically to meet that demand. Total uranium output across major producers is projected to grow from 58.5 million pounds in 2025 to 141.2 million pounds by 2033, a near 2.5 times increase in less than a decade. The buildout responds to a demand curve that analysts expect to rise about 28 percent by 2030 and nearly double by 2040.

Price behavior in 2026 reflected the tight near-term balance. Spot uranium peaked at 101.41 dollars per pound early in the year before consolidating in the mid-80s through the second quarter. Supply cuts from major producers, including a 10 percent reduction from Kazatomprom, kept upward pressure on the market even during the pullback.

Several forces sit behind the projections, including new reactor construction, life extensions at existing plants, advanced and small modular reactor adoption, and rising electricity consumption from AI and data centers. Limited near-term supply growth rounds out a market that analysts describe as structurally tight through the rest of the decade.

Source: DataM Intelligence - https://www.datamintelligence.com/research-report/uranium-market