2025年中国可控核聚变行业产业链图谱、发展现状、重点企业分析及全景研判:产业推动叠加资本加码，可控核聚变产业化不断升级[图]

Core Insights - Controlled nuclear fusion is a transformative energy source that is being actively promoted for commercialization by major countries globally. The industry is experiencing rapid growth driven by policy, technology, and demand [1][5][26]. Investment Landscape - Global investment in nuclear fusion is projected to reach $7.1 billion in 2024, an increase of $900 million from 2023 [5][26]. - Public funding for private fusion companies is expected to rise to $426 million in 2024, up from $271 million in 2023 [5][7]. Industry Structure - The global nuclear fusion industry comprises 45 companies in 2024, an increase of 2 from 2023 [7][9]. - The industry is categorized into various types of fusion technologies, including magnetic confinement, inertial confinement, and cold fusion [3]. Current Developments in China - China is making significant progress in fusion engineering projects, aiming to bridge the gap between the ITER and DEMO plans by the 2020s [9][11]. - The Chinese government has included nuclear fusion in its "Top Ten Future Industries" initiative, with plans to invest over 300 billion yuan by 2030 [11][22]. Industry Chain - The upstream of the nuclear fusion industry includes materials like tungsten and copper, while the midstream focuses on technology development and equipment manufacturing [13][15]. - The downstream applications include medical devices, scientific research, and nuclear power plant operations [13]. Competitive Landscape - Key players in the nuclear fusion sector include Westinghouse Superconductors, Antai Technology, and China National Nuclear Corporation, which are gaining attention due to their technological capabilities and project experience [19][22]. - The supply chain for critical components such as superconducting magnets and vacuum chambers is gradually forming [19][20]. Future Trends - The push for carbon neutrality by 2060 is expected to drive a significant transformation in the energy sector, with controlled nuclear fusion being recognized as a clean and sustainable energy solution [26][28]. - The industry is transitioning from experimental science to engineering validation, with increasing capital interest and diverse technological pathways [26].