Global Small Modular Reactor Market Size study & Forecast, by Coolant (Heavy Liquid Metal, Gases, Molten Salt, Water) Type (Heavy-water Reactors, Light-water Reactors, High-temperature Reactors, Fast-neutron Reactors, Molten Salt Reactors) by Application

Global Small Modular Reactor Market Size study & Forecast, by Coolant (Heavy Liquid Metal, Gases, Molten Salt, Water) Type (Heavy-water Reactors, Light-water Reactors, High-temperature Reactors, Fast-neutron Reactors, Molten Salt Reactors) by Application (Power Generation, Desalination, Hydrogen Generation, Industrial) by End-use (Transmission & Distribution Utilities, Power Generation, Industrial, Others) by Connectivity (Grid-Connected, Off-Grid) by Location (Land, Marine) by Deployment (Single-Module Power Plant, Multi-Module Power Plant) and Regional Analysis, 2023-2030

Global Small Modular Reactor Market is valued approximately USD 5.7 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 2.3% over the forecast period 2023-2030. A Small Modular Reactor (SMR) is a type of nuclear power plant that is smaller and more flexible compared to traditional large-scale nuclear reactors. It is designed to provide electricity and heat by using nuclear reactions to generate energy. What makes SMRs special is that they are built in smaller pieces or modules, making them easier to manufacture, transport, and assemble. These modular reactors can be used in various locations, such as remote areas, industrial sites, or communities, where they can generate reliable and clean energy to meet the specific needs of those places. Its driving boosting market factors are expansion of nuclear power reactors and growing demand of electricity.

According to the Statista in 2023, there were 436 nuclear reactor operation in 32 countries around the world. The United States has the largest number of nuclear power reactors in operation which are about 93 units. The expansion of nuclear power reactors can drive the growth and adoption of small modular reactors (SMRs) due to their flexibility, cost advantages, enhanced safety features, and potential for meeting specific energy needs. Moreover, decentralized power generation and nuclear waste management will create more opportunities in the market. However, the supply chain & infrastructure, project siting and grid integration stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Small Modular Reactor Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022. The United States has been at the forefront of SMR development and deployment. The U.S. Department of Energy (DOE) has provided substantial support for SMR projects through its funding programs. NuScale Power, an American company, is one of the notable leaders in SMR technology, having received significant funding and making progress towards commercialization.

Major market player included in this report are:
Westinghouse Electric Company LLC
NuScale Power
Terrestrial Energy Inc
Moltex Energy
Hitachi Nuclear Energy
X Energy LLC
General Atomics
ARC Clean Energy
Leadcold Reactors
Toshiba Energy Systems & Solutions Corporation

Recent Developments in the Market:
 In May 2023, Nuscale Power Corporation and Nucor Corporation announced the collaboration to investigate co-locating Nusale’s VOYGR small modular nuclear reactors provide clean and reliable baseload electricity.
 In Jan 2023, Hitachi Nuclear Energy, Ontario Power Generation, SNC_Lavalin, and Aecon inked the deal for the installation of a BWROC 300 Small modular reactor at OPG’s Darlington new nuclear project site.

Global Small Modular Reactor Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Heavy Liquid Metal, Type, Application, End-use, Connectivity, Location, Deployment, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Coolant:
Heavy Liquid Metal
Gases
Molten Salt
Water

By Type:
Heavy-water Reactors
Light-water Reactors
Fast-neutron Reactors
Molten Salt Reactors

By Application:
Power Generation
Desalination
Hydrogen Generation
Industrial

By End-use:
Transmission & Distribution Utilities
Power Generation
Industrial
Others

Connectivity:
Grid-connected
Off-grid

Location:
Land
Marine

Deployment:
Single-Module Power Plant
Multi-Module Power Plant

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.

Companies Mentioned
Westinghouse Electric Company LLC
NuScale Power
Terrestrial Energy Inc
Moltex Energy
Hitachi Nuclear Energy
X Energy LLC
General Atomics
ARC Clean Energy
Leadcold Reactors
Toshiba Energy Systems & Solutions Corporation

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions. Show more