Global Small Modular Reactors

Global Small Modular Reactors Market Research Report: Forecast (2022-2027)

By Reactor Type (Light Water Reactor (LWR), Pressurized Heavy Water Reactor (PHWR), High-Temperature Reactor (HTR), Fast Neutron Reactor (FNR), Others (MSR (Molten Salt Reactor), Integral PWR (Pressur Read more

  • Energy
  • Jun 2022
  • 190
  • EN77033

Market Definition

Small Modular Reactors (SMRs) are nuclear fission reactors used for nuclear energy generation. They are usually much smaller than traditional reactors and have an electrical power output of less than 300MW. Apart from their standard use for power generation, these reactors are also deployed for industrial applications such as desalination of water & process heating.

The small modular reactor industry is likely to expand swiftly in the coming years on the back of its cost-effectiveness and minimal construction time for these units. When compared with a renewable energy resource like wind or solar, the energy derived from these SMRs takes up a smaller area & generates only a small carbon footprint. Although the concept of Small Modular reactors is still undergoing rigorous research & development, it is anticipated to offer an opportunistic future for the leading players during the forecast period.       

Market Insights

The Global Small Modular Reactor Market is projected to grow at a CAGR of around 14% during the forecast period, i.e., 2022-27. The growth of the market is likely to be driven primarily by the rapidly growing demand for SMRs in several applications for their flexible power generation capabilities.

With increasing levels of carbon emissions and the rising government focus across different countries on reducing dependency on fossil fuels, SMRs are witnessing an increasing demand for energy production using natural resources like wind & solar and, in turn, driving the global market.

Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
CAGR (2022-2027) 14%
Regions Covered North America: USA, Canada, Mexico
Europe: Germany, The UK, France, Italy, Russia, Rest of Europe
Asia-Pacific: China, Japan, India, South Korea, Rest of Asia Pacific
South America: Brazil, Rest of South America
Middle East & Africa: GCC, South Africa, Rest of Middle East & Africa
Key Companies Profiled Advanced Reactor Concepts, LLC, Bechtel Corporation, China National Nuclear Corporation (CNNC), General Atomics, General Electric Hitachi Nuclear Energy, Holtec International, Mitsubishi Heavy Industries Ltd, Nuclear Power Corporation of India Limited (NPCIL)
Unit Denominations USD Million/Billion

 

Besides, growing awareness among several end-user industries about the benefits of SMRs like low to medium capital investment and small area consumption due to their compact size is another prominent aspect contributing to their surging need globally. SMRs offer higher safety, are an excellent alternative to fossil fuels, and generate a high energy rate owing to their development in controlled factory environments through the module fabrication process.

  • In May 2020, Akademik Lomonosov, the world's first-ever floating nuclear power plant, got commissioned in Pevek, Chukotka (Russia), which harbors two 35 MW(e) KLT40S SMR units generating enough energy to cater to the power requirements of around 100 000 people.

Furthermore, with the growing urbanization, power requirements are mounting rapidly and infusing the demand for clean electricity generation. Hence, governments of different countries are utilizing SMRs & exercising their benefits and, in turn, contributing to the global expansion of the Small Modular Reactor Market.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Market Segmentation
    4. Assumptions
  2. Executive Summary
  3. Impact of COVID-19 on Global Small Modular Reactor Market
  4. Global Small Modular Reactor Market Policies, Regulations, Product Standards
  5. Global Small Modular Reactor Market Trends & Insights
  6. Global Small Modular Reactor Market Dynamics
    1. Drivers
    2. Challenges
  7. Global Small Modular Reactor Market Hotspots & Opportunities
  8. Global Small Modular Reactor Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Reactor Type
        1. Light Water Reactor (LWR)
        2. Pressurized Heavy Water Reactor (PHWR)
        3. High-Temperature Reactor (HTR)
        4. Fast Neutron Reactor (FNR)
        5. Others (Molten Salt Reactor (MSR), Integral PWR (Pressurized Water Reactor), etc.)
      2. By Deployment
        1. Single Module
        2. Multi-Module
      3. By Application
        1. Desalination
        2. Power Generation
        3. Process Heat
      4. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East & Africa
        5. Asia-Pacific
      5. By Company
        1. Revenue Shares
        2. Competition Characteristics
  9. North America Small Modular Reactor Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Reactor Type
      2. By Deployment
      3. By Application
      4. By Country
        1. The US
        2. Canada
        3. Mexico
  10. South America Small Modular Reactor Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Reactor Type
      2. By Deployment
      3. By Application
      4. By Country
        1. Brazil
        2. Rest of South America
  11. Europe Small Modular Reactor Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Reactor Type
      2. By Deployment
      3. By Application
      4. By Country
        1. The UK
        2. France
        3. Germany
        4. Italy
        5. Russia
        6. Rest of Europe
  12. Middle East and Africa Small Modular Reactor Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Reactor Type
      2. By Deployment
      3. By Application
      4. By Country
        1. GCC
        2. South Africa
        3. Rest of Middle East and Africa
  13. Asia-Pacific Small Modular Reactor Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Reactor Type
      2. By Deployment
      3. By Application
      4. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of Asia-Pacific
  14. Global Small Modular Reactor Market Key Strategic Imperatives for Growth & Success
  15. Competition Outlook
    1. Competition Matrix
      1. Brand Specialization
      2. Target Markets
      3. Target End Users
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
    2. Company Profiles
      1. Advanced Reactor Concepts, LLC
      2. Bechtel Corporation
      3. China National Nuclear Corporation (CNNC)
      4. General Atomics
      5. General Electric Hitachi Nuclear Energy
      6. Holtec International
      7. Mitsubishi Heavy Industries Ltd.
      8. Nuclear Power Corporation of India Limited (NPCIL)
      9. Shanghai Nuclear Engineering Research and Design Institute Co., Ltd. (SNERDI)
      10. Toshiba International Corporation
      11. Others
  16. Disclaimer
Small Modular Reactor Market Segmentation
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