Product Code: ENE0574
The global Small Modular Reactor market is projected to grow at a CAGR of 9% by 2033.
“The Small Modular Reactor Market Report 2023-2033”: This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Growing Demand for Carbon-Free Energy
The increasing global concern about climate change and the need to reduce greenhouse gas emissions have spurred the demand for clean and sustainable energy sources. Small Modular Reactors (SMRs) offer a promising solution as they produce electricity with virtually zero carbon emissions. As countries commit to ambitious climate targets, the role of nuclear energy, including SMRs, becomes more critical in decarbonizing the power sector. The growing demand for carbon-free energy has positioned SMRs as a viable option to meet electricity needs while mitigating the environmental impact.
Flexibility and Grid Resilience
One of the key advantages of SMRs is their flexibility in power generation and grid integration. Traditional large-scale nuclear power plants have limited flexibility in adjusting their output based on fluctuating energy demands. SMRs, on the other hand, can ramp their power output up or down more rapidly, allowing them to adapt to changing grid requirements. This flexibility makes SMRs suitable for complementing intermittent renewable energy sources like solar and wind, providing grid stability and resilience, especially during peak demand periods.
What Questions Should You Ask before Buying a Market Research Report?
- How is the small modular reactor market evolving?
- What is driving and restraining the small modular reactor market?
- How will each small modular reactor submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2033?
- How will the market shares for each small modular reactor submarket develop from 2023 to 2033?
- What will be the main driver for the overall market from 2023 to 2033?
- Will leading small modular reactor markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2033 and which geographical region will lead the market in 2033?
- Who are the leading players and what are their prospects over the forecast period?
- What are the small modular reactor projects for these leading companies?
- How will the industry evolve during the period between 2023 and 2033? What are the implications of small modular reactor projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the small modular reactor market?
- Where is the small modular reactor market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
You need to discover how this will impact the small modular reactor market today, and over the next 10 years:
- Our 386-page report provides 127 tables and 170 charts/graphs exclusively to you
- The report highlights key lucrative areas in the industry so you can target them - NOW
- It contains in-depth analysis of global, regional and national sales and growth
- It highlights for you the key successful trends, changes and revenue projections made by your competitors.
This report tells you TODAY how the small modular reactor market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.
Forecasts to 2033 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2033, our new study provides you with recent results, growth rates, and market shares
- You will find original analyses, with business outlooks and developments
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising small modular reactor prices and recent developments.
This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Four COVID-19 recovery patterns and their impact, namely, ""V" ", "L", "W" and "U" are discussed in this report.
Segments Covered in the Report:
Market Segment by Deployment
- Land-based Plant
- Marine-based Plant
Market Segment by Design
- Integral Reactor Design
- Twin Reactor Design
- Other Reactor Design
Market Segment by Coolant Type
- Molten Salt Reactors (MSR)
- Gas-Cooled Reactors (GCR)
- Liquid Metal Reactors (LMR)
- Other Coolant Type
Market Segment by Type
- Pressurized Water Reactor (PWR)
- Pressurized Heavy Water Reactor (PHWR)
- High-Temperature Reactor (HTR)
- Fast Neutron Reactor (FNR)
- Other Type
Market Segment by Application
- Power Generation
- Desalination
- Process Heat Supply
- Industrial Applications
- District Heating
- Other Applications
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets:
North America
Europe
- Russia
- UK
- France
- Luxembourg
- Sweden
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Indonesia
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
The report also includes profiles and for some of the leading companies in the Small Modular Reactor Market, 2023 to 2033, with a focus on this segment of these companies' operations.
Leading companies profiled in the report:
- ARC Clean Energy
- China National Nuclear Corporation (CNNC)
- Framatome
- GE Hitachi Nuclear Energy (GEH)
- General Atomics (GA)
- LeadCold Reactors
- Moltex Energy
- NuScale Power Corporation
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- Rolls-Royce Limited
- SNC-Lavalin Group Inc
- Terrestrial Energy Inc
- Tokamak Energy Ltd
- Ultra-Safe Nuclear (USNC)
- Westinghouse Electric Company LLC
- X Energy, LLC
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Overall world revenue for Small Modular Reactor Market, 2023 to 2033 in terms of value the market will surpass US$86.6 billion in 2023, our work calculates. We predict strong revenue growth through to 2033. Our work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.
How will the Small Modular Reactor Market, 2023 to 2033 report help you?
In summary, our 380+ page report provides you with the following knowledge:
- Revenue forecasts to 2033 for Small Modular Reactor Market, 2023 to 2033 Market, with forecasts for design, type, coolant type, application, and deployment, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2033 for four regional and 20 key national markets - See forecasts for the Small Modular Reactor Market, 2023 to 2033 market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Also forecasted is the market in the US, Canada, Brazil, Germany, France, UK, Sweden, Luxemburg, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Small Modular Reactor Market, 2023 to 2033.
Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.
Information found nowhere else
With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Our study is for everybody needing commercial analyses for the Small Modular Reactor Market, 2023 to 2033, market-leading companies. You will find data, trends and predictions.
Table of Contents
1 Report Overview
- 1.1 Objectives of the Study
- 1.2 Introduction to Small Modular Reactor Market
- 1.3 What This Report Delivers
- 1.4 Why You Should Read This Report
- 1.5 Key Questions Answered by This Analytical Report
- 1.6 Who Is This Report for?
- 1.7 Research Methodology
- 1.7.1 Market Definitions
- 1.7.2 Market Evaluation & Forecasting Methodology
- 1.7.3 Data Validation
- 1.7.3.1 Primary Research
- 1.7.3.2 Secondary Research
- 1.8 Frequently Asked Questions (FAQs)
- 1.9 Associated Reports
- 1.10 About
2 Executive Summary
3 Market Overview
- 3.1 Key Findings
- 3.2 Market Dynamics
- 3.2.1 Market Driving Factors
- 3.2.1.1 SMRs Offer a Decentralized and Distributed Power Generation Approach
- 3.2.1.2 SMRs Offer a Clean and Sustainable Option for Electricity Generation Without the Greenhouse Gas Emissions Associated with Fossil Fuels
- 3.2.1.3 SMRs Offer a Viable Solution for Nuclear Power Plant Replacement and Expansion Due to their Smaller Size
- 3.2.1.4 New Materials, Advanced Control Systems, and Passive Safety Mechanisms have Enhanced the Safety and Efficiency of SMRs
- 3.2.2 Market Restraining Factors
- 3.2.2.1 Prolonged Project Timelines and Increased Costs, Discouraging Potential Investors and Hindering the Widespread Adoption of SMRs
- 3.2.2.2 The Development of First-of-a-Kind SMRs May Still Face Cost Overruns Due to Research, Licensing, and Regulatory Compliance Challenges
- 3.2.2.3 Nuclear Energy, Including SMRs, Is Often Met with Public Apprehension and Concerns About Safety, Waste Disposal, and Potential Accidents
- 3.2.2.4 The Declining Costs of Renewable Technologies have Led to Increased Investments in Clean Energy Projects, Creating Competition for Market Share with SMRs
- 3.2.3 Market Opportunities
- 3.2.3.1 Developing Economies, Characterized by Rapid Urbanization and Industrialization, Present a Significant Market Opportunity for Small Modular Reactors (SMRs)
- 3.2.3.2 SMRs Can Serve as a Decentralized Power Generation Option, providing a Stable and Clean Energy Source to Support Local Communities, Industries, and Essential Services
- 3.2.3.3 By Integrating SMRs in to Existing Nuclear Sites, Developers Can Capitalize on Established Infrastructure, Reducing Capital Costs and Streamlining Regulatory Approval Processes
- 3.2.3.4 The Concept of Hybrid Energy Systems, Combining Multiple Energy Sources, Presents an Opportunity for SMRs to Play a Crucial Role in Enhancing Energy Security
- 3.3 COVID-19 Impact Analysis
- 3.3.1 V-Shaped Recovery Scenario
- 3.3.2 W-Shaped Recovery Scenario
- 3.3.3 U-Shaped Recovery Scenario
- 3.3.4 L-Shaped Recovery Scenario
- 3.4 Porter's Five Forces Analysis
- 3.4.1 Threat of New Entrants
- 3.4.2 Bargaining Power of Buyers
- 3.4.3 Bargaining Power of Suppliers
- 3.4.4 Threat of Substitutes
- 3.4.5 Competitive Rivalry
- 3.5 PEST Analysis
- 3.5.1 Political Factors
- 3.5.2 Economic Factors
- 3.5.3 Social Factors
- 3.5.4 Technological Factors
4 Small Modular Reactor Market Analysis by Deployment
- 4.1 Key Findings
- 4.2 Deployment Segment: Market Attractiveness Index
- 4.3 Small Modular Reactor Market by Deployment
- 4.4 Land-Based Plant
- 4.4.1 Market by Region, 2023-2033 (US$ Bn)
- 4.4.2 Market Share by Region, 2023 & 2033 (%)
- 4.5 Marine-Based Plant
- 4.5.1 Market by Region, 2023-2033 (US$ Bn)
- 4.5.2 Market Share by Region, 2023 & 2033 (%)
5 Small Modular Reactor Market Analysis by Design
- 5.1 Key Findings
- 5.2 Design Segment: Market Attractiveness Index
- 5.3 Small Modular Reactor Market by Design
- 5.4 Integral Reactor Design
- 5.4.1 Market by Region, 2023-2033 (US$ Bn)
- 5.4.2 Market Share by Region, 2023 & 2033 (%)
- 5.5 Twin Reactor Design
- 5.5.1 Market by Region, 2023-2033 (US$ Bn)
- 5.5.2 Market Share by Region, 2023 & 2033 (%)
- 5.6 Other Reactor Design
- 5.6.1 Market by Region, 2023-2033 (US$ Bn)
- 5.6.2 Market Share by Region, 2023 & 2033 (%)
6 Small Modular Reactor Market Analysis by Coolant Type
- 6.1 Key Findings
- 6.2 Coolant Type Segment: Market Attractiveness Index
- 6.3 Small Modular Reactor Market by Coolant Type
- 6.4 Molten Salt Reactors (MSRs)
- 6.4.1 Market by Region, 2023-2033 (US$ Bn)
- 6.4.2 Market Share by Region, 2023 & 2033 (%)
- 6.5 Gas-Cooled Reactors (GCR)
- 6.5.1 Market by Region, 2023-2033 (US$ Bn)
- 6.5.2 Market Share by Region, 2023 & 2033 (%)
- 6.6 Liquid Metal Reactors (LMR)
- 6.6.1 Market by Region, 2023-2033 (US$ Bn)
- 6.6.2 Market Share by Region, 2023 & 2033 (%)
- 6.7 Other Coolant Type
- 6.7.1 Market by Region, 2023-2033 (US$ Bn)
- 6.7.2 Market Share by Region, 2023 & 2033 (%)
7 Small Modular Reactor Market Analysis by Type
- 7.1 Key Findings
- 7.2 Type Segment: Market Attractiveness Index
- 7.3 Small Modular Reactor Market by Type
- 7.4 Pressurized Water Reactor (PWR)
- 7.4.1 Market by Region, 2023-2033 (US$ Bn)
- 7.4.2 Market Share by Region, 2023 & 2033 (%)
- 7.5 Pressurized Heavy Water Reactor (PHWR)
- 7.5.1 Market by Region, 2023-2033 (US$ Bn)
- 7.5.2 Market Share by Region, 2023 & 2033 (%)
- 7.6 High-Temperature Reactor (HTR)
- 7.6.1 Market by Region, 2023-2033 (US$ Bn)
- 7.6.2 Market Share by Region, 2023 & 2033 (%)
- 7.7 Fast Neutron Reactor (FNR)
- 7.7.1 Market by Region, 2023-2033 (US$ Bn)
- 7.7.2 Market Share by Region, 2023 & 2033 (%)
- 7.8 Other Type
- 7.8.1 Market by Region, 2023-2033 (US$ Bn)
- 7.8.2 Market Share by Region, 2023 & 2033 (%)
8 Small Modular Reactor Market Analysis by Application
- 8.1 Key Findings
- 8.2 Application Segment: Market Attractiveness Index
- 8.3 Small Modular Reactor Market by Application
- 8.4 Power Generation
- 8.4.1 Market by Region, 2023-2033 (US$ Bn)
- 8.4.2 Market Share by Region, 2023 & 2033 (%)
- 8.5 Desalination
- 8.5.1 Market by Region, 2023-2033 (US$ Bn)
- 8.5.2 Market Share by Region, 2023 & 2033 (%)
- 8.6 Process Heat Supply
- 8.6.1 Market by Region, 2023-2033 (US$ Bn)
- 8.6.2 Market Share by Region, 2023 & 2033 (%)
- 8.7 Industrial Applications
- 8.7.1 Market by Region, 2023-2033 (US$ Bn)
- 8.7.2 Market Share by Region, 2023 & 2033 (%)
- 8.8 District Heating
- 8.8.1 Market by Region, 2023-2033 (US$ Bn)
- 8.8.2 Market Share by Region, 2023 & 2033 (%)
- 8.9 Other Applications
- 8.9.1 Market by Region, 2023-2033 (US$ Bn)
- 8.9.2 Market Share by Region, 2023 & 2033 (%)
9 Small Modular Reactor Market Analysis by Region
- 9.1 Key Findings
- 9.2 Regional Market Size Estimation and Forecast
10 North America Small Modular Reactor Market Analysis
- 10.1 Key Findings
- 10.2 North America Small Modular Reactor Market Attractiveness Index
- 10.3 North America Small Modular Reactor Market by Country, 2023, 2028 & 2033 (US$ Billion)
- 10.4 North America Small Modular Reactor Market by Value
- 10.5 North America Small Modular Reactor Market by Country
- 10.6 North America Small Modular Reactor Market by Deployment
- 10.7 North America Small Modular Reactor Market by Design
- 10.8 North America Small Modular Reactor Market by Coolant Type
- 10.9 North America Small Modular Reactor Market by Type
- 10.10 North America Small Modular Reactor Market by Application
- 10.11 U.S. Small Modular Reactor Market Analysis
- 10.12 Canada Small Modular Reactor Market Analysis
11 Europe Small Modular Reactor Market Analysis
- 11.1 Key Findings
- 11.2 Europe Small Modular Reactor Market Attractiveness Index
- 11.3 Europe Small Modular Reactor Market by Country, 2023, 2028 & 2033 (US$ Billion)
- 11.4 Europe Small Modular Reactor Market by Value
- 11.5 Europe Small Modular Reactor Market by Country
- 11.6 Europe Small Modular Reactor Market by Deployment
- 11.7 Europe Small Modular Reactor Market by Design
- 11.8 Europe Small Modular Reactor Market by Coolant Type
- 11.9 Europe Small Modular Reactor Market by Type
- 11.10 Europe Small Modular Reactor Market by Application
- 11.11 Russia Small Modular Reactor Market Analysis
- 11.12 UK Small Modular Reactor Market Analysis
- 11.13 France Small Modular Reactor Market Analysis
- 11.14 Luxembourg Small Modular Reactor Market Analysis
- 11.15 Sweden Small Modular Reactor Market Analysis
- 11.16 Rest of Europe Small Modular Reactor Market Analysis
12 Asia Pacific Small Modular Reactor Market Analysis
- 12.1 Key Findings
- 12.2 Asia Pacific Small Modular Reactor Market Attractiveness Index
- 12.3 Asia Pacific Small Modular Reactor Market by Country, 2023, 2028 & 2033 (US$ Billion)
- 12.4 Asia-Pacific Small Modular Reactor Market by Value
- 12.5 Asia-Pacific Small Modular Reactor Market by Country
- 12.6 Asia-Pacific Small Modular Reactor Market by Deployment
- 12.7 Asia-Pacific Small Modular Reactor Market by Design
- 12.8 Asia-Pacific Small Modular Reactor Market by Coolant Type
- 12.9 Asia-Pacific Small Modular Reactor Market by Type
- 12.10 Asia-Pacific Small Modular Reactor Market by Application
- 12.11 China Small Modular Reactor Market Analysis
- 12.12 Indonesia Small Modular Reactor Market Analysis
- 12.13 Japan Small Modular Reactor Market Analysis
- 12.14 South Korea Small Modular Reactor Market Analysis
- 12.15 India Small Modular Reactor Market Analysis
- 12.16 Rest of Asia Pacific Small Modular Reactor Market Analysis
13 Middle East & Africa Small Modular Reactor Market Analysis
- 13.1 Key Findings
- 13.2 Middle East & Africa Small Modular Reactor Market Attractiveness Index
- 13.3 Middle East & Africa Small Modular Reactor Market by Country, 2023, 2028 & 2033 (US$ Billion)
- 13.4 Middle East & Africa Small Modular Reactor Market by Value
- 13.5 Middle East & Africa Small Modular Reactor Market by Country
- 13.6 Middle East & Africa Small Modular Reactor Market by Deployment
- 13.7 Middle East & Africa Small Modular Reactor Market by Design
- 13.8 Middle East & Africa Small Modular Reactor Market by Coolant Type
- 13.9 Middle East & Africa Small Modular Reactor Market by Type
- 13.10 Middle East & Africa Small Modular Reactor Market by Application
- 13.11 GCC Small Modular Reactor Market Analysis
- 13.12 South Africa Small Modular Reactor Market Analysis
- 13.13 Rest of the Middle East & Africa Small Modular Reactor Market Analysis
14 Latin America Small Modular Reactor Market Analysis
- 14.1 Key Findings
- 14.2 Latin America Small Modular Reactor Market Attractiveness Index
- 14.3 Latin America Small Modular Reactor Market by Country, 2023, 2028 & 2033 (US$ Billion)
- 14.4 Latin America Small Modular Reactor Market by Value
- 14.5 Latin America Small Modular Reactor Market by Country
- 14.6 Latin America Small Modular Reactor Market by Deployment
- 14.7 Latin America Small Modular Reactor Market by Design
- 14.8 Latin America Small Modular Reactor Market by Coolant Type
- 14.9 Latin America Small Modular Reactor Market by Type
- 14.10 Latin America Small Modular Reactor Market by Application
- 14.11 Brazil Small Modular Reactor Market Analysis
- 14.12 Argentina Small Modular Reactor Market Analysis
- 14.13 Rest of Latin America Small Modular Reactor Market Analysis
15 Company Profiles
- 15.1 Competitive Landscape, 2022
- 15.2 Strategic Outlook
- 15.3 Westinghouse Electric Company LLC
- 15.3.1 Company Snapshot
- 15.3.2 Company Overview
- 15.3.3 Product Benchmarking
- 15.3.4 Strategic Outlook
- 15.4 NuScale Power Corporation
- 15.4.1 Company Snapshot
- 15.4.2 Company Overview
- 15.4.3 Financial Analysis
- 15.4.3.1 Net Revenue, 2020-2022
- 15.4.3.2 R&D, 2020-2022
- 15.4.4 Product Benchmarking
- 15.4.5 Strategic Outlook
- 15.5 Terrestrial Energy
- 15.5.1 Company Snapshot
- 15.5.2 Company Overview
- 15.5.3 Product Benchmarking
- 15.5.4 Strategic Outlook
- 15.6 Moltex Energy
- 15.6.1 Company Snapshot
- 15.6.2 Company Overview
- 15.6.3 Product Benchmarking
- 15.7 GE Hitachi Nuclear Energy
- 15.7.1 Company Snapshot
- 15.7.2 Company Overview
- 15.7.3 Product Benchmarking
- 15.7.4 Strategic Outlook
- 15.8 X Energy, LLC
- 15.8.1 Company Snapshot
- 15.8.2 Company Overview
- 15.8.3 Product Benchmarking
- 15.8.4 Strategic Outlook
- 15.9 General Atomics
- 15.9.1 Company Snapshot
- 15.9.2 Company Overview
- 15.9.3 Product Benchmarking
- 15.9.4 Strategic Outlook
- 15.10 ARC Clean Energy
- 15.10.1 Company Snapshot
- 15.10.2 Company Overview
- 15.10.3 Product Benchmarking
- 15.10.4 Strategic Outlook
- 15.11 Rolls-Royce Limited
- 15.11.1 Company Snapshot
- 15.11.2 Company Overview
- 15.11.3 Financial Analysis
- 15.11.3.1 Net Revenue, 2018-2022
- 15.11.3.2 R&D, 2018-2022
- 15.11.3.3 Regional Revenue Share, 2022 (%)
- 15.11.3.4 Business Segment Revenue Share, 2022 (%)
- 15.11.4 Product Benchmarking
- 15.11.5 Strategic Outlook
- 15.12 LeadCold Reactors
- 15.12.1 Company Snapshot
- 15.12.2 Company Overview
- 15.12.3 Product Benchmarking
- 15.12.4 Strategic Outlook
- 15.13 Ultra-Safe Nuclear Corporation
- 15.13.1 Company Snapshot
- 15.13.2 Company Overview
- 15.13.3 Product Benchmarking
- 15.13.4 Strategic Outlook
- 15.14 Tokamak Energy Ltd
- 15.14.1 Company Snapshot
- 15.14.2 Company Overview
- 15.14.3 Product Benchmarking
- 15.15 SNC-Lavalin Group Inc
- 15.15.1 Company Snapshot
- 15.15.2 Company Overview
- 15.15.3 Financial Analysis
- 15.15.3.1 Net Revenue, 2018-2022
- 15.15.3.2 Regional Revenue Share, 2022 (%)
- 15.15.3.3 Business Segment Revenue Share, 2022 (%)
- 15.15.4 Product Benchmarking
- 15.16 China National Nuclear Corporation
- 15.16.1 Company Snapshot
- 15.16.2 Company Overview
- 15.16.3 Product Benchmarking
- 15.16.4 Strategic Outlook
- 15.17 Framatome
- 15.17.1 Company Snapshot
- 15.17.2 Company Overview
- 15.17.3 Product Benchmarking
- 15.17.4 Strategic Outlook
16 Conclusion and Recommendations
- 16.1 Concluding Remarks from
- 16.2 Recommendations for Market Players