The energy generated by using sustained nuclear fission which is either a nuclear reaction or a radioactive decay process to generate heat and electricity is known as Nuclear Power. Nuclear power plants provide about 6% of the world's energy and 13–14% of the world's electricity, with the U.S., France, and Japan together producing about 50% of nuclear generated electricity.

Nuclear energy originates from the splitting of uranium atoms in a process called fission. At the power plant, the fission process is used to generate heat for producing steam, which is used by a turbine to generate electricity. In a nuclear power plant, uranium takes place of coal, oil or gas to be the fuel use to heat water and produce steam. Nuclear energy uses Uranium as fuel, which is a limited resource. The supply of Uranium is expected to last only for the next 30 to 60 years .Hence, nuclear energy is not a renewable energy.

Advantages of nuclear power generation:

Nuclear power generation emits relatively low amounts of carbon dioxide. The contribution of nuclear power plants to global warming is therefore relatively little.

This technology is readily available; it does not have to be developed first. It is possible to generate a high amount of electrical energy in one single plant.

Disadvantages of nuclear power generation:

The radioactive waste from nuclear energy is extremely dangerous and it has to be carefully looked after for several thousand years.

Despite high security standards, accidents can still happen. It is technically impossible to build a plant with 100% security. During the operation of nuclear power plants, radioactive waste is produced, which in turn can be used for the production of nuclear weapons.

The energy source for nuclear energy is Uranium. Uranium is a scarce resource; its supply is estimated to last only for the next 30 to 60 years depending on the actual demand.

The time frame needed to build a new nuclear power generation plant is time consuming ranging between 20 to 30 years.

Nuclear Power Industry Current Trends

As per the reports, in spite of nuclear setbacks, the global installed nuclear capacity might increase at a CAGR of nearly 4% and nuclear generation at a CAGR of 3.9% during 2011-2020.

India, China, South Korea, and Russia account for 48 of the 64 nuclear reactors the International Atomic Energy Agency (IAEA) lists as under construction worldwide. In 2012, 3,000 megawatts has been added to nuclear capacity, with new additions in South Korea and Canada. Worldwide electricity generated at nuclear power plants fell 5 percent between 2006 and 2011. (Sustainablog.org)

Major Nuclear Power Industry Players

Some of the major Nuclear Power Industry players are Alabama Power and NSTAR in US, Japan Atomic Power Company in Japan, China National Nuclear Corporation in China, Horizon Nuclear Power and Nuclear Electric in UK etc.