Japanese reactor maker IHI competes with Korean firms for nuclear exports

IHI Corporation is stepping up efforts to secure contracts for nuclear reactor systems and related technology in overseas markets, as global demand for low-carbon energy sources accelerates. The Japanese industrial conglomerate is targeting emerging economies and developed nations seeking to expand their nuclear capacity amid climate change concerns and energy security priorities.

The competition from South Korean manufacturers, particularly those with established track records in nuclear exports, presents a significant challenge to IHI's expansion strategy. Korean firms have gained considerable market share in recent years, particularly in the Middle East and Southeast Asia, where several nations are planning new nuclear capacity additions.

IHI's nuclear business division has been modernizing its reactor designs and strengthening its engineering capabilities to compete internationally. The company is leveraging Japan's reputation for advanced manufacturing and safety standards while adapting its offerings to meet diverse regulatory requirements across different markets.

The timing of IHI's push comes as many countries reassess their energy policies following recent geopolitical tensions and rising fossil fuel costs. Nuclear power is increasingly viewed as essential to achieving net-zero carbon targets, creating substantial opportunities for suppliers of reactor technology and associated equipment. Industry analysts suggest the coming decade will see intensified competition among Japanese, Korean, and other international nuclear vendors for lucrative long-term contracts.