Small Modular Reactor Market

Small Modular Reactor Market by Reactor (HWR, LWR, HTR, FNR, MSR), Application (Power Generation, Desalination, Hydrogen Generation, Industrial), Deployment (Single, Multi), Connectivity, Location, Coolant, Power Rating & Region - Global Forecast to 2030

Report Code: EP 7975 Jun, 2023, by marketsandmarkets.com

[265 Pages Report] The small modular reactor market is expected to grow from an estimated USD 5.8 billion in 2023 to USD 6.8 billion by 2030, at a CAGR of 2.3% during the forecast period. Benefits of modularization and factory construction is driving the demand of small modular reactor market. Modularization simplifies construction by splitting nuclear power plant structures, equipment, and/or components into modules that may be fabricated in a dedicated factory, transported, and installed on-site. SMRS can benefit from the advantages of modular building technologies, particularly in terms of cost savings. Construction or pre-assembly of modules in a factory away from the site of installation can result in cost savings due to increased labour productivity, quality control, and reduced project management risks. The degree of modularity may vary between designs, and it may have a better possibility to integrate additional modularity in the early stages of design.

Small Modular Reactor Market

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Small Modular Reactor Market

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Small Modular Reactor Market Dynamics

Driver: Versatile nature of nuclear power

Nuclear energy's versatility may facilitate a shift to a cleaner society and a stronger global economy. Clean energy sources have seen remarkable innovation and cost reductions in recent decades. In the previous decade, solar photovoltaic, wind power, hydropower, dispatchable geothermal (both deep and shallow), biomass, and concentrated solar power have made rapid technological and economic breakthroughs. Nuclear energy has the potential to be synergistically combined with various other energy sources, resulting in integrated systems that are greater than the sum of their parts.

Restraint: Negative public perception of nuclear power technology

Several governments have reconsidered the role of nuclear energy in their national energy mix, although the issue of public acceptance is crucial for the successful development of SMRs. Severe nuclear accidents, such as the Three Mile Island accident in March 1979 and the much more severe Chornobyl accident in April 1986, have adversely impacted the public attitude toward nuclear power. In 1999, an operational error led to a radiation leak, killing two workers, and exposing 400 people to small doses of radiation in the Tokai Mura region of Japan. Incidents such as these have created a negative reputation for nuclear technologies and the concerned activities among the public, owing to which the adoption rate of SMR technologies and associated solutions might be hindered. Like any nuclear project, SMRs face public acceptance challenges. Nuclear energy, in general, has encountered public apprehension and concerns related to safety, waste management, and potential accidents. Engaging with communities and addressing these concerns is essential to gain public support for SMR projects.

Opportunity: Integration of SMRs with renewable energy sources

Wind and solar photovoltaics, for example, play critical roles in decarbonizing the power sector while meeting rising energy demand. This can be accomplished by increasing the deployment of renewable energy technologies. However, the growing use of renewable energy has an impact on the operation of the electrical system. Solar photovoltaic arrays produce varying amounts of energy depending on the weather, latitude, and season. Weather patterns, both seasonal and daily, have an impact on wind energy.

Challenge: Lack of standard licensing process

Licencing is a possible issue with SMRS because the expenses of design certification, building, and operating licences are comparable to those of big reactors. Current licencing systems in established nuclear markets are built for large nuclear power plants and may provide an obstacle to the eventual deployment of SMRS because they do not allow for cost-effective SMRS deployment. The site-specific constraints may make the repetitive build of identical units based on a reference standard design difficult.

Small Modular Reactor Market Ecosystem

Well-established, financially sound manufacturers of small modular reactor market are prominent players in this industry. These companies have been in the market for a number of years and have a diverse product range, cutting-edge technologies, and powerful global sales and marketing networks. NuScale Power, LLC. (US), (Canada), Moltex Energy (Canada), and GE Hitachi Nuclear Energy (US).

Small Modular Reactor Market

The heavy liquid metal segment by coolant holds the fourth largest segment in 2022

Lead, lead-bismuth, and sodium are heavy liquid metals considered in this segment. Lead, as a thick liquid, has good cooling capabilities as well as nuclear properties such as a low inclination to absorb or delay neutrons. Cooling with either lead-bismuth eutectic (LBE) or molten lead allows for low-pressure operation and is largely inert with good thermodynamic properties. Heavy liquid metals' supportive properties are propelling the market for this sector forward. The harsh operating conditions, which include high temperatures, quick neutron flux, irradiation exposure, and corrosiveness, create a hostile environment for these materials. Overcoming these obstacles necessitates careful evaluation of the materials' capacity to survive and perform dependably in such harsh environments.

Fast–neutron reactors segment by reactor type is estimated to be the fourth-largest segment for small modular reactor market

Fast-neutron-based SMRs use a fast neutron spectrum and commonly use liquid metal coolants such as sodium, lead-bismuth, or lead, as they have a high conductivity and boiling point. FNRs do not use moderators and rely on nuclear fuel to absorb neutrons traveling at higher speeds. These reactors are smaller and simpler than LWRs. Such reactors may have longer refueling intervals and have better fuel performance. The core can burn used LWR fuels, plutonium, and thorium fuels that are enriched to about 15–20%. It uses fuels that have a higher concentration of fissile material, which allows for increased power densities and, thus, results in a reduction in the size of the reactor core. FNRs have the potential to substantially reduce the radiotoxicity of nuclear waste, as most of the long-lived waste is recycled and burned as fuel.

Hydrogen Generation segment by application type is estimated to be the fourth largest segment for small modular reactor market

Hydrogen is essential in a variety of industrial applications. It can help to decarbonize electricity and transportation by being used for energy storage or as a fuel for hydrogen fuel-cell cars, trains, ships, and aeroplanes. Hydrogen can be produced using the fast-neutron reactor, molten salt reactor, and high-temperature reactor technologies. The type of reactor technology influences the choice of hydrogen technologies to be combined with the SMRS. Only electricity is required for a few hydrogen manufacturing systems, such as traditional electrolysis. In contrast, methods such as thermochemical cycles may just require process heat, whereas hybrid technologies, such as high-temperature steam electrolysis (HTSE) and hybrid thermochemical cycles, require both heat and electricity.

Off-grid segment by connectivity is estimated to be the largest segment for small modular reactor market

SMRs used for off-grid operations are not linked to a large-scale power infrastructure. Instead, they are closer to the demand. Most SMRS are built for isolated sites where larger nuclear power stations are not feasible. Off-grid SMRS can be utilised for power generation and other non-electric purposes in distant villages, islands, and mining locations. SMRS are also being used to generate power in naval vessels such as icebreakers and submarines. Most off-grid areas and installations are powered by diesel generators to provide a steady power supply; however, these reactors pose logistical and environmental challenges. The use of diesel generators in rural settlements and mine sites is offset by SMRS.

Multi-module power plant segment by deployment is estimated to be the largest segment for small modular reactor market

Multi-module plant designs permit a wide range of simultaneous applications, as some modules can be dedicated to electricity production, while others provide heat to support industrial processes or produce hydrogen. This characteristic of multi-module plant design is suited for hybrid energy applications, in which multiple energy sources are integrated with multiple energy consumption processes to form a highly optimized and efficient system. Multi-module SMR plants are cheaper to finance than large nuclear reactors since they require lower upfront inputs for a unit and may be expanded over time. The flexibility to add modules progressively in multi-module SMRS  provides economies of series production. This, in turn, allows the investors and operators to respond to fluctuations in power demand and budgetary limits in order to avoid financial risks. These reasons are projected to fuel demand for SMRS for multi-module power plants.

Land segment by location is estimated to be the largest segment for small modular reactor market

Several reactor designs are being developed for land deployment to serve various applications, such as electricity generation, urban heating, urban cooling, industrial steam production, and seawater desalination. For instance, in July 2021, China National Nuclear Corporation (China) began constructing the ACP 100 at the Changjiang Nuclear Power Plant in Hainan Province, China. The demonstration SMR is being developed for multiple applications, such as electricity production, heating, steam production, and seawater desalination. A few of the major players developing land SMRs are Rolls-Royce plc (UK), China National Nuclear Corporation (China), NuScale Power, LLC (US), Holtec International (US), Westinghouse Electric Company LLC (US), and National Commission of Atomic Energy (CNEA) (Argentina).

Asia Pacific is expected to account for largest market size during the forecast period.

In 2022, the Asia Pacific dominated the global small modular reactor market, followed by Europe and Americas. The region, by country, has been segmented into the China, Japan, India, South Korea, and the Rest of Asia Pacific. Due to the enormous number of SMR projects in China, Asia Pacific is a big contributor to the small modular reactor industry in the current environment. SMRs have the potential to replace coal- and other fossil-fuel-fired power stations in the region for power production and process heat applications, which will likely promote the expansion of the regional small modular reactor market.

Small Modular Reactor Market  Size, and Share

Key Market Players

The small modular reactor market is dominated by a few major players that have a wide regional presence. The major players in the Small modular reactor market are Westinghouse Electric Company LLC (US), NuScale Power, LLC. (US), Terrestrial Energy Inc. (Canada), Moltex Energy (Canada), and GE Hitachi Nuclear Energy (US) between 2019 and 2022, Strategies such as product launches, contracts, agreements, partnerships, collaborations, alliances, acquisitions, and expansions are followed by these companies to capture a larger share of the small modular reactor market.

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Scope of the Report

Report Metric

Details

Market Size available for years

2019–2030

Base year considered

2022

Forecast period

2023–2030

Forecast units

Value (USD Million/Billion)

Segments covered

By Coolant, By Deployment, By location, By Application, By Reactor Type, By Power Rating, By Connectivity

Geographies covered

Asia Pacific, Americas, Europe, and Middle East & Africa

Companies covered

Westinghouse Electric Company LLC (US), NuScale Power, LLC. (US), Terrestrial Energy Inc. (Canada), Moltex Energy (Canada), GE Hitachi Nuclear Energy (US), X Energy, LLC. (US), X Energy, LLC. (US), General Atomics (US), ARC Clean Energy, Inc. (Canada), LeadCold Reactors (Sweden), Rolls-Royce (UK), Ultra Safe Nuclear (US),  Toshiba Energy Systems & Solutions Corporation (Japan), Tokamak Energy Ltd. (UK), SNC-Lavalin Group (Canada), Afrikantov OKB Mechanical Engineering (Russia), China National Nuclear Corporation (China), Framatome (France), U-BATTERY (UK), and Seaborg Technologies (Denmark)

This research report categorizes the Small modular reactor market based on coolant, deployment, location, application, reactor type, power rating, connectivity, and region.

By Coolant
  • Heavy liquid metal
  • Gases
  • Molten salt
  • Water
By 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 Industry
  • 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
By Region
  • Americas
  • Asia Pacific
  • Middle East & Africa
  • Europe

Recent Developments

  • In June 2023, Fortum and Westinghouse Electric Company, one of world’s leading suppliers of safe and innovative nuclear technology, have signed a Memorandum of Understanding (MoU) to explore prerequisites for the development and deployment of new nuclear in Finland and Sweden. Any potential investment decisions will be made at a later stage. The collaboration with Fortum is to bring proven and industry-leading, nuclear technology to the Nordic region, delivering added energy security for many generations in the future.
  • In May 2023, NuScale Power Corporation (NYSE: SMR) and Nucor Corporation (Nucor) announced the signing of a Memorandum of Understanding (MOU) to investigate co-locating NuScale's VOYGR small modular nuclear reactor (SMR) power plants to provide clean, reliable baseload electricity to Nucor's scrap-based Electric Arc Furnace (EAF) steel mills. The firms will also look into expanding their manufacturing partnership, in which Nucor, North America's largest steel producer and recycler of any form of material, would supply Econiq, its net-zero steel products, for Nuscale projects.
  • In April 2023, SNC-Lavalin announced its strategic agreement with Moltex on Small Modular Reactor development, thereby extending nuclear energy in Canada. SNC-Lavalin's world-class network of expertise in engineering, licencing and regulatory affairs, cost estimation, supplier qualification and management, quality assurance, and construction and operation planning will be used by Moltex. SNC-Lavalin will work with Moltex to bring in new customers and advance Molter's commercial objectives.
  • In Jan 2023, Hitachi Nuclear Energy (GEH), Ontario Power Generation (OPG), SNC-Lavalin, and Aecon inked a deal for the installation of a BWROC 300 small modular reactor (SMR) at OPG's Darlington New Nuclear Project site. This is North America's first commercial contract for a grid-scale SMR.
  • In Feb 2022, Terrestrial Energy Inc. signed an agreement with the Australian Nuclear Science and Technology Organisation (ANSTO). Under this agreement, ANSTO will provide technical guidance to Terrestrial Energy Inc. for the conditioning of used reactor fuel from the Integral Molten Salt Reactor (IMSR) power plants in the United States, Canada, and the United Kingdom, and other global markets.

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 31)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 RECESSION IMPACT 
           1.3.1 INCLUSIONS AND EXCLUSIONS
    1.4 STUDY SCOPE 
           1.4.1 MARKETS COVERED
           1.4.2 REGIONAL SCOPE
           1.4.3 YEARS CONSIDERED
    1.5 CURRENCY CONSIDERED 
    1.6 LIMITATIONS 
    1.7 STAKEHOLDERS 
    1.8 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 36)
    2.1 RESEARCH APPROACH 
           FIGURE 1 SMALL MODULAR REACTOR MARKET: RESEARCH DESIGN
    2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 
           FIGURE 2 DATA TRIANGULATION
           2.2.1 SECONDARY DATA
                    2.2.1.1 Key data from secondary sources
           2.2.2 PRIMARY DATA
                    2.2.2.1 Key data from primary sources
                               FIGURE 3 KEY INDUSTRY INSIGHTS
                    2.2.2.2 Breakdown of primaries
                               FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
    2.3 MARKET SIZE ESTIMATION 
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
           2.3.3 DEMAND-SIDE ANALYSIS
                    FIGURE 7 DEMAND-SIDE CALCULATION
                    FIGURE 8 METRICS CONSIDERED FOR ANALYZING AND ASSESSING DEMAND FOR SMALL MODULAR REACTORS
                    2.3.3.1 Assumptions for demand-side analysis
           2.3.4 FORECAST
    2.4 IMPACT OF RECESSION 
 
3 EXECUTIVE SUMMARY (Page No. - 46)
    TABLE 1 SMALL MODULAR REACTOR MARKET: SNAPSHOT 
    FIGURE 9 ASIA PACIFIC DOMINATED SMALL MODULAR REACTOR MARKET IN 2022 
    FIGURE 10 WATER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE FROM  2023 TO 2030 
    FIGURE 11 LIGHT-WATER REACTORS TO CLAIM LARGEST MARKET SHARE FROM  2023 TO 2030 
    FIGURE 12 OFF-GRID SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 
    FIGURE 13 MULTI-MODULE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 
    FIGURE 14 LAND SEGMENT TO ACCOUNT FOR LARGER SHARE DURING FORECAST PERIOD 
    FIGURE 15 INDUSTRIAL SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD 
    FIGURE 16 201–300 MW SEGMENT TO SECURE LARGEST MARKET SHARE DURING FORECAST PERIOD 
 
4 PREMIUM INSIGHTS (Page No. - 52)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SMALL MODULAR REACTOR MARKET 
           FIGURE 17 LOW COST OF SMR DUE TO MODULARIZATION AND FACTORY CONSTRUCTION TO DRIVE MARKET DURING 2023–2030
    4.2 SMALL MODULAR REACTOR MARKET, BY REGION 
           FIGURE 18 SMALL MODULAR REACTOR MARKET IN ASIA PACIFIC TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
    4.3 SMALL MODULAR REACTOR MARKET, BY COOLANT 
           FIGURE 19 WATER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE,  BY COOLANT, IN 2022
    4.4 SMALL MODULAR REACTOR MARKET, BY TYPE 
           FIGURE 20 LIGHT-WATER REACTORS ACCOUNTED FOR LARGEST MARKET SHARE IN 2022
    4.5 SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY 
           FIGURE 21 OFF-GRID SEGMENT HELD LARGER MARKET SHARE IN 2022
    4.6 SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT 
           FIGURE 22 MULTI-MODULE POWER PLANT SECURED LARGER MARKET SHARE IN 2022
    4.7 SMALL MODULAR REACTOR MARKET, BY LOCATION 
           FIGURE 23 LAND SEGMENT DOMINATED MARKET IN 2022
    4.8 SMALL MODULAR REACTOR MARKET, BY APPLICATION 
           FIGURE 24 INDUSTRIAL SEGMENT LED MARKET IN 2022
    4.9 SMALL MODULAR REACTOR MARKET, BY POWER RATING 
           FIGURE 25 201–300 MW SEGMENT CLAIMED LARGER MARKET SHARE IN 2022
    4.10 SMALL MODULAR REACTOR MARKET IN ASIA PACIFIC,  BY APPLICATION AND COUNTRY 
           FIGURE 26 LIGHT-WATER REACTORS AND CHINA DOMINATED MARKET IN ASIA PACIFIC IN 2022
 
5 MARKET OVERVIEW (Page No. - 58)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 27 SMALL MODULAR REACTOR MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,  AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Versatile nature of nuclear power
                               FIGURE 28 GLOBAL LOW-CARBON ENERGY GENERATION, BY SOURCE, 2011–2021
                    5.2.1.2 Benefits of modularization and factory construction
           5.2.2 RESTRAINTS
                    5.2.2.1 Stringent regulatory policies and standards
                    5.2.2.2 Negative public perception of nuclear power technology
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Progression into sustainable future with net zero emission and decarbonization of energy sector
                    5.2.3.2 Integration of SMRs with renewable energy sources
           5.2.4 CHALLENGES
                    5.2.4.1 Lack of standard licensing process
    5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
           5.3.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR SMALL MODULAR REACTOR MARKET PLAYERS
                    FIGURE 29 REVENUE SHIFT OF SMALL MODULAR REACTOR PROVIDERS
    5.4 PRICING ANALYSIS 
           TABLE 2 CAPEX OF SMALL MODULAR REACTOR PROJECTS, BY TYPE
    5.5 SUPPLY CHAIN ANALYSIS 
           FIGURE 30 SMALL MODULAR REACTOR MARKET: SUPPLY CHAIN ANALYSIS
           5.5.1 COMPONENT MANUFACTURERS
           5.5.2 SMALL MODULAR REACTOR MANUFACTURERS
           5.5.3 SMALL MODULAR REACTOR SUPPORT SERVICE PROVIDERS/ INTEGRATORS
           5.5.4 END USERS
    5.6 ECOSYSTEM ANALYSIS 
           TABLE 3 SMALL MODULAR REACTOR MARKET: ECOSYSTEM
    5.7 KEY CONFERENCES AND EVENTS, 2023–2024 
           TABLE 4 SMALL MODULAR REACTOR MARKET: LIST OF CONFERENCES AND EVENTS
    5.8 SMALL MODULAR REACTOR MARKET: REGULATIONS 
           5.8.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 5 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 6 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
                    TABLE 7 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
                    TABLE 8 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
           5.8.2 STANDARDS AND REGULATIONS
                    TABLE 9 SMALL MODULAR REACTOR MARKET: STANDARDS AND REGULATIONS
    5.9 PATENT ANALYSIS 
    5.10 PORTER’S FIVE FORCES ANALYSIS 
           FIGURE 31 PORTER’S FIVE FORCES ANALYSIS FOR SMALL MODULAR REACTOR MARKET
           TABLE 10 SMALL MODULAR REACTOR MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.10.1 THREAT OF SUBSTITUTES
           5.10.2 BARGAINING POWER OF SUPPLIERS
           5.10.3 BARGAINING POWER OF BUYERS
           5.10.4 THREAT OF NEW ENTRANTS
           5.10.5 INTENSITY OF COMPETITIVE RIVALRY
    5.11 TECHNOLOGY ANALYSIS 
    5.12 TRADE ANALYSIS 
           5.12.1 EXPORT SCENARIO
                    TABLE 11 EXPORT SCENARIO FOR HS CODE: 840110, BY COUNTRY, 2018–2022 (USD MILLIONS)
                    FIGURE 32 EXPORT DATA FOR TOP 5 COUNTRIES, 2018–2022 (USD THOUSANDS)
           5.12.2 IMPORT SCENARIO
                    TABLE 12 IMPORT SCENARIO FOR HS CODE: 840110, BY COUNTRY, 2018–2022 (USD MILLIONS)
                    FIGURE 33 IMPORT DATA FOR TOP 5 COUNTRIES, 2018–2022 (USD THOUSANDS)
    5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 34 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR THREE APPLICATIONS
                    TABLE 13 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS
           5.13.2 BUYING CRITERIA
                    FIGURE 35 KEY BUYING CRITERIA FOR THREE APPLICATIONS
                    TABLE 14 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS
 
6 SMALL MODULAR REACTOR MARKET, BY TYPE (Page No. - 82)
    6.1 INTRODUCTION 
           FIGURE 36 SMALL MODULAR REACTOR MARKET, BY TYPE
           TABLE 15 SMALL MODULAR REACTOR MARKET, BY TYPE, 2019–2021 (USD MILLION)
           TABLE 16 SMALL MODULAR REACTOR MARKET, BY TYPE, 2022–2030 (USD MILLION)
    6.2 HEAVY-WATER REACTORS 
           6.2.1 BETTER-MODERATING PROPERTIES COMPARED WITH LIGHT WATER TO DRIVE SEGMENT GROWTH
                    TABLE 17 HEAVY-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION,  2019–2021 (USD MILLION)
                    TABLE 18 HEAVY-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION,  2022–2030 (USD MILLION)
    6.3 LIGHT-WATER REACTORS 
           6.3.1 HIGH DEGREE OF TECHNOLOGICAL READINESS TO DRIVE MARKET
                    TABLE 19 LIGHT-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION,  2019–2021 (USD MILLION)
                    TABLE 20 LIGHT-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION,  2022–2030 (USD MILLION)
                    TABLE 21 LIGHT-WATER REACTOR MARKET, BY SUBTYPE, 2019–2021 (USD MILLION)
                    TABLE 22 LIGHT-WATER REACTOR MARKET, BY SUBTYPE, 2022–2030 (USD MILLION)
           6.3.2 PRESSURIZED-WATER REACTORS
                    TABLE 23 PRESSURIZED-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)
                    TABLE 24 PRESSURIZED-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)
           6.3.3 BOILING-WATER REACTORS
                    TABLE 25 BOILING-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION,  2019–2021 (USD MILLION)
                    TABLE 26 BOILING-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION,  2022–2030 (USD MILLION)
    6.4 HIGH-TEMPERATURE REACTORS 
           6.4.1 USEFUL IN VARIOUS HIGH-TEMPERATURE INDUSTRIAL APPLICATIONS
                    TABLE 27 HIGH-TEMPERATURE REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)
                    TABLE 28 HIGH-TEMPERATURE REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)
    6.5 FAST-NEUTRON REACTORS 
           6.5.1 REDUCES NUCLEAR WASTE
                    TABLE 29 FAST NEUTRON REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION,  2019–2021 (USD MILLION)
                    TABLE 30 FAST NEUTRON REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION,  2022–2030 (USD MILLION)
           6.5.2 LEAD-COOLED REACTORS
           6.5.3 LEAD-BISMUTH REACTORS
           6.5.4 SODIUM-COOLED REACTORS
    6.6 MOLTEN SALT REACTORS 
           6.6.1 HIGHER EFFICINCIES AND LOWER WATSE GENERATION TO DRIVE MARKET
                    TABLE 31 MOLTEN SALT REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION,  2019–2021 (USD MILLION)
                    TABLE 32 MOLTEN SALT REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION,  2022–2030 (USD MILLION)
 
7 SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY (Page No. - 94)
    7.1 INTRODUCTION 
           FIGURE 37 SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY
           TABLE 33 SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2019–2021 (USD MILLION)
           TABLE 34 SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2022–2030 (USD MILLION)
    7.2 OFF-GRID 
           7.2.1 REQUIREMENT FOR CLEAN, FLEXIBLE, AND RELIABLE POWER GENERATION TO DRIVE MARKET
                    TABLE 35 OFF-GRID: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)
                    TABLE 36 OFF-GRID: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)
    7.3 GRID-CONNECTED 
           7.3.1 INTEGRATION OF RENEWABLES TO STRENGTHEN MARKET
                    TABLE 37 GRID-CONNECTED: SMALL MODULAR REACTOR MARKET, BY REGION,  2019–2021 (USD MILLION)
                    TABLE 38 GRID-CONNECTED: SMALL MODULAR REACTOR MARKET, BY REGION,  2022–2030 (USD MILLION)
 
8 SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT (Page No. - 99)
    8.1 INTRODUCTION 
           FIGURE 38 SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT
           TABLE 39 SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 2019–2021 (USD MILLION)
           TABLE 40 SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 2022–2030 (USD MILLION)
    8.2 SINGLE-MODULE POWER PLANT 
           8.2.1 RELATIVE EASE OF LICENSING TO DRIVE MARKET
                    TABLE 41 SINGLE-MODULE POWER PLANT: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)
                    TABLE 42 SINGLE-MODULE POWER PLANT: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)
    8.3 MULTI-MODULE POWER PLANT 
           8.3.1 EASE OF FINANCING ADDITIONAL UNITS TO DRIVE MARKET
                    TABLE 43 MULTI-MODULE POWER PLANT: SMALL MODULAR REACTOR MARKET, BY REGION,  2019–2021 (USD MILLION)
                    TABLE 44 MULTI-MODULE POWER PLANT: SMALL MODULAR REACTOR MARKET, BY REGION,  2022–2030 (USD MILLION)
 
9 SMALL MODULAR REACTOR MARKET, BY POWER RATING (Page No. - 104)
    9.1 INTRODUCTION 
           FIGURE 39 SMALL MODULAR REACTOR MARKET SHARE, BY POWER RATING
           TABLE 45 SMALL MODULAR REACTOR MARKET SIZE, BY VOLTAGE, 2021–2030 (USD MILLION)
    9.2 UP TO 100 MW 
           9.2.1 HARNESSING SMALL MODULAR REACTORS FOR SUSTAINABLE ELECTRICITY GENERATION TO DRIVE GROWTH
                    TABLE 46 UP TO 100 MW: SMALL MODULAR REACTOR MARKET SIZE, BY REGION,  2021–2030 (USD MILLION)
    9.3 101–200 MW 
           9.3.1 PROVIDES NECESSARY ENERGY FOR DESALINATION PLANTS
                    TABLE 47 101–200 MW: SMALL MODULAR REACTOR MARKET, BY REGION,  2021–2030 (USD MILLION)
    9.4 201–300 MW 
           9.4.1 FLEXIBILITY FOR REMOTE AREAS AND COST-EFFECTIVENESS TO DRIVE MARKET
                    TABLE 48 201-300 MW: SMALL MODULAR REACTOR MARKET, BY REGION,  2021–2030 (USD MILLION)
 
10 SMALL MODULAR REACTOR MARKET, BY LOCATION (Page No. - 110)
     10.1 INTRODUCTION 
               FIGURE 40 SMALL MODULAR REACTOR MARKET, BY LOCATION,
               TABLE 49 SMALL MODULAR REACTOR MARKET, BY LOCATION, 2019–2021 (USD MILLION)
               TABLE 50 SMALL MODULAR REACTOR MARKET, BY LOCATION, 2022–2030 (USD MILLION)
     10.2 LAND 
             10.2.1 PROTECTION FROM NATURAL HAZARDS AND DISASTERS
                       TABLE 51 LAND: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)
                       TABLE 52 LAND: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)
     10.3 MARINE 
             10.3.1 DEPLOYED IN ISLANDS, REMOTE, AND COASTAL REGIONS
                       TABLE 53 MARINE: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)
                       TABLE 54 MARINE: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)
 
11 SMALL MODULAR REACTOR MARKET, BY APPLICATION (Page No. - 115)
     11.1 INTRODUCTION 
               FIGURE 41 SMALL MODULAR REACTOR MARKET, BY APPLICATION
               TABLE 55 SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)
               TABLE 56 SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)
     11.2 POWER GENERATION 
             11.2.1 EASE OF SITING AND OPERATING FLEXIBILITY TO DRIVE MARKET
                       TABLE 57 POWER GENERATION: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)
                       TABLE 58 POWER GENERATION: SMALL MODULAR REACTOR MARKET, BY REGION,  2022–2030 (USD MILLION)
     11.3 DESALINATION 
             11.3.1 INCREASING DEMAND FOR POTABLE WATER IN ARID AND  SEMI-ARID ZONES TO DRIVE MARKET
                       TABLE 59 DESALINATION: SMALL MODULAR REACTOR MARKET, BY REGION,  2019–2021 (USD MILLION)
                       TABLE 60 DESALINATION: SMALL MODULAR REACTOR MARKET, BY REGION,  2022–2030 (USD MILLION)
     11.4 INDUSTRIAL 
             11.4.1 LOW EMISSIONS AND HIGH-QUALITY HEAT TO OFFER SEVERAL INDUSTRIAL APPLICATIONS
                       TABLE 61 INDUSTRIAL: SMALL MODULAR REACTOR MARKET, BY REGION,  2019–2021 (USD MILLION)
                       TABLE 62 INDUSTRIAL: SMALL MODULAR REACTOR MARKET, BY REGION,  2022–2030 (USD MILLION)
                       TABLE 63 SMALL MODULAR REACTOR MARKET, BY INDUSTRIAL, 2019–2021 (USD MILLION)
                       TABLE 64 SMALL MODULAR REACTOR MARKET, BY INDUSTRIAL, 2022–2030 (USD MILLION)
             11.4.2 PROCESS HEAT
                       TABLE 65 PROCESS HEAT: SMALL MODULAR REACTOR MARKET, BY REGION,  2019–2021 (USD MILLION)
                       TABLE 66 PROCESS HEAT: SMALL MODULAR REACTOR MARKET, BY REGION,  2022–2030 (USD MILLION)
             11.4.3 OTHER
                       11.4.3.1 Captive electricity generation
                       11.4.3.2 District heating
                                   TABLE 67 OTHERS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)
                                   TABLE 68 OTHERS: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)
     11.5 HYDROGEN PRODUCTION 
             11.5.1 ABILITY TO MAXIMIZE LOAD FACTORS INCREASE POWER PLANT EFFICIENCY TO DRIVE MARKET
                       TABLE 69 HYDROGEN PRODUCTION: SMALL MODULAR REACTOR MARKET, BY REGION,  2019–2021 (USD MILLION)
                       TABLE 70 HYDROGEN PRODUCTION: SMALL MODULAR REACTOR MARKET, BY REGION,  2022–2030 (USD MILLION)
 
12 SMALL MODULAR REACTOR MARKET, BY COOLANT (Page No. - 125)
     12.1 INTRODUCTION 
               FIGURE 42 SMALL MODULAR REACTOR MARKET, BY COOLANT
               TABLE 71 SMALL MODULAR REACTOR MARKET, BY COOLANT, 2019–2021 (USD MILLION)
               TABLE 72 SMALL MODULAR REACTOR MARKET, BY COOLANT, 2022–2030 (USD MILLION)
     12.2 HEAVY LIQUID METALS 
             12.2.1 THERMODYNAMIC PROPERTIES OF HEAVY LIQUID METALS TO SUPPORT MARKET
                       TABLE 73 HEAVY LIQUID METALS: SMALL MODULAR REACTOR MARKET, BY REGION,  2019–2021 (USD MILLION)
                       TABLE 74 HEAVY LIQUID METALS: SMALL MODULAR REACTOR MARKET, BY REGION,  2022–2030 (USD MILLION)
     12.3 WATER 
             12.3.1 ADVANCEMENTS IN REACTORS FOR PROPER HANDLING OF WATER COOLANTS TO DRIVE MARKET
                       TABLE 75 WATER: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)
                       TABLE 76 WATER: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)
     12.4 MOLTEN SALTS 
             12.4.1 OPERATIONAL ADVANTAGES TO DRIVE MARKET
                       TABLE 77 MOLTEN SALTS: SMALL MODULAR REACTOR MARKET, BY REGION,  2019–2021 (USD MILLION)
                       TABLE 78 MOLTEN SALTS: SMALL MODULAR REACTOR MARKET, BY REGION,  2022–2030 (USD MILLION)
     12.5 GASES 
             12.5.1 CONTROLS OCCURRENCE OF CORROSION
                       TABLE 79 GASES: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)
                       TABLE 80 GASES: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)
 
13 SMALL MODULAR REACTOR MARKET, BY REGION (Page No. - 132)
     13.1 INTRODUCTION 
               FIGURE 43 SMALL MODULAR REACTOR MARKET IN ASIA PACIFIC TO REGISTER HIGHEST CAGR FROM 2023 TO 2030
               FIGURE 44 SMALL MODULAR REACTOR MARKET SHARE, BY REGION, 2022
               TABLE 81 SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)
               TABLE 82 SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)
     13.2 ASIA PACIFIC 
             13.2.1 RECESSION IMPACT ON ASIA PACIFIC MARKET
                       FIGURE 45 ASIA PACIFIC: SNAPSHOT OF SMALL MODULAR REACTOR MARKET IN 2022
                       TABLE 83 ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY POWER RATING,  2022–2030 (USD MILLION)
                       TABLE 84 ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY COOLANT,  2019–2021 (USD MILLION)
                       TABLE 85 ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY COOLANT,  2022–2030 (USD MILLION)
                       TABLE 86 ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY TYPE,  2019–2021 (USD MILLION)
                       TABLE 87 ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY TYPE,  2022–2030 (USD MILLION)
                       TABLE 88 ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY,  2019–2021 (USD MILLION)
                       TABLE 89 ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY,  2022–2030 (USD MILLION)
                       TABLE 90 ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT,  2019–2021 (USD MILLION)
                       TABLE 91 ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT,  2022–2030 (USD MILLION)
                       TABLE 92 ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY LOCATION,  2019–2021 (USD MILLION)
                       TABLE 93 ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY LOCATION,  2022–2030 (USD MILLION)
                       TABLE 94 ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                       TABLE 95 ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
                       TABLE 96 ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY COUNTRY,  2019–2021 (USD MILLION)
                       TABLE 97 ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY COUNTRY,  2022–2030 (USD MILLION)
             13.2.2 CHINA
                       13.2.2.1 Rise in deployment of SMRs in coastal, island, and offshore areas
                                   TABLE 98 CHINA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                                   TABLE 99 CHINA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
             13.2.3 JAPAN
                       13.2.3.1 Integration of renewable energy sources with SMR to provide lucrative growth opportunities
                                   TABLE 100 JAPAN: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                                   TABLE 101 JAPAN: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
             13.2.4 INDIA
                       13.2.4.1 Retiring fossil fuel-fired power plants to drive demand for reactors
                                   TABLE 102 INDIA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                                   TABLE 103 INDIA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
             13.2.5 SOUTH KOREA
                       13.2.5.1 Developments in marine small modular reactors for floating power plants to provide lucrative opportunities
                                   TABLE 104 SOUTH KOREA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                                   TABLE 105 SOUTH KOREA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
             13.2.6 REST OF ASIA PACIFIC
                       TABLE 106 REST OF ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                       TABLE 107 REST OF ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
     13.3 EUROPE 
             13.3.1 RECESSION IMPACT ON EUROPE MARKET
                       FIGURE 46 EUROPE: SMALL MODULAR REACTOR MARKET SNAPSHOT
                       TABLE 108 EUROPE: SMALL MODULAR REACTOR MARKET, BY POWER RATING,  2022–2030 (USD MILLION)
                       TABLE 109 EUROPE: SMALL MODULAR REACTOR MARKET, BY COOLANT,  2019–2021 (USD MILLION)
                       TABLE 110 EUROPE: SMALL MODULAR REACTOR MARKET, BY COOLANT,  2022–2030 (USD MILLION)
                       TABLE 111 EUROPE: SMALL MODULAR REACTOR MARKET, BY TYPE,  2019–2021 (USD MILLION)
                       TABLE 112 EUROPE: SMALL MODULAR REACTOR MARKET, BY TYPE,  2022–2030 (USD MILLION)
                       TABLE 113 EUROPE: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY,  2019–2021 (USD MILLION)
                       TABLE 114 EUROPE: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY,  2022–2030 (USD MILLION)
                       TABLE 115 EUROPE: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT,  2019–2021 (USD MILLION)
                       TABLE 116 EUROPE: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT,  2022–2030 (USD MILLION)
                       TABLE 117 EUROPE: SMALL MODULAR REACTOR MARKET, BY LOCATION,  2019–2021 (USD MILLION)
                       TABLE 118 EUROPE: SMALL MODULAR REACTOR MARKET, BY LOCATION,  2022–2030 (USD MILLION)
                       TABLE 119 EUROPE: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                       TABLE 120 EUROPE: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
                       TABLE 121 EUROPE: SMALL MODULAR REACTOR MARKET, BY COUNTRY,  2019–2021 (USD MILLION)
                       TABLE 122 EUROPE: SMALL MODULAR REACTOR MARKET, BY COUNTRY,  2022–2030 (USD MILLION)
                       13.3.1.1 Russia
                                   13.3.1.1.1 Deployment of SMRs for power generation in remote areas of Russian Far East to drive market
                                   TABLE 123 RUSSIA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                                   TABLE 124 RUSSIA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
                       13.3.1.2 UK
                                   13.3.1.2.1 Increasing government initiatives and investments to fuel market growth
                                   TABLE 125 UK: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                                   TABLE 126 UK: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
                       13.3.1.3 France
                                   13.3.1.3.1 Focus on achieving decarbonization target to drive market
                                   TABLE 127 FRANCE: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                                   TABLE 128 FRANCE: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
             13.3.2 REST OF EUROPE
                       TABLE 129 REST OF EUROPE: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                       TABLE 130 REST OF EUROPE: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
     13.4 AMERICAS 
             13.4.1 RECESSION IMPACT ON AMERICAS MARKET
                       TABLE 131 AMERICAS: SMALL MODULAR REACTOR MARKET, BY POWER RATING,  2022–2030 (USD MILLION)
                       TABLE 132 AMERICAS: SMALL MODULAR REACTOR MARKET, BY COOLANT,  2019–2021 (USD MILLION)
                       TABLE 133 AMERICAS: SMALL MODULAR REACTOR MARKET, BY COOLANT,  2022–2030 (USD MILLION)
                       TABLE 134 AMERICAS: SMALL MODULAR REACTOR MARKET, BY TYPE,  2019–2021 (USD MILLION)
                       TABLE 135 AMERICAS: SMALL MODULAR REACTOR MARKET, BY TYPE,  2022–2030 (USD MILLION)
                       TABLE 136 AMERICAS: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY,  2019–2021 (USD MILLION)
                       TABLE 137 AMERICAS: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY,  2022–2030 (USD MILLION)
                       TABLE 138 AMERICAS: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT,  2019–2021 (USD MILLION)
                       TABLE 139 AMERICAS: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT,  2022–2030 (USD MILLION)
                       TABLE 140 AMERICAS: SMALL MODULAR REACTOR MARKET, BY LOCATION,  2019–2021 (USD MILLION)
                       TABLE 141 AMERICAS: SMALL MODULAR REACTOR MARKET, BY LOCATION,  2022–2030 (USD MILLION)
                       TABLE 142 AMERICAS: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                       TABLE 143 AMERICAS: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
                       TABLE 144 AMERICAS: SMALL MODULAR REACTOR MARKET, BY COUNTRY,  2019–2021 (USD MILLION)
                       TABLE 145 AMERICAS: SMALL MODULAR REACTOR MARKET, BY COUNTRY,  2022–2030 (USD MILLION)
             13.4.2 US
                       13.4.2.1 Rising investments coupled with government initiatives to drive market
                                   TABLE 146 US: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                                   TABLE 147 US: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
             13.4.3 CANADA
                       13.4.3.1 Small-scale grids and demand from remote locations to provide lucrative growth opportunities
                                   TABLE 148 CANADA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                                   TABLE 149 CANADA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
             13.4.4 ARGENTINA
                       13.4.4.1 Rising demand for power generation and desalination applications to boost market
                                   TABLE 150 ARGENTINA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                                   TABLE 151 ARGENTINA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
     13.5 MIDDLE EAST & AFRICA 
             13.5.1 RECESSION IMPACT ON MIDDLE EAST & AFRICA MARKET
                                   TABLE 152 MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY POWER RATING, 2022–2030 (USD MILLION)
                                   TABLE 153 MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY COOLANT,  2019–2021 (USD MILLION)
                                   TABLE 154 MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY COOLANT,  2022–2030 (USD MILLION)
                                   TABLE 155 MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY TYPE,  2019–2021 (USD MILLION)
                                   TABLE 156 MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY TYPE,  2022–2030 (USD MILLION)
                                   TABLE 157 MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY,  2019–2021 (USD MILLION)
                                   TABLE 158 MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY,  2022–2030 (USD MILLION)
                                   TABLE 159 MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT,  2019–2021 (USD MILLION)
                                   TABLE 160 MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT,  2022–2030 (USD MILLION)
                                   TABLE 161 MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY LOCATION,  2019–2021 (USD MILLION)
                                   TABLE 162 MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY LOCATION,  2022–2030 (USD MILLION)
                                   TABLE 163 MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                                   TABLE 164 MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
                                   TABLE 165 MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY COUNTRY,  2019–2021 (USD MILLION)
                                   TABLE 166 MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY COUNTRY,  2022–2030 (USD MILLION)
                       13.5.1.1 Saudi Arabia
                                   13.5.1.1.1 Need to reduce dependence on fossil fuels for power generation and desalination to drive market
                                   TABLE 167 SAUDI ARABIA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                                   TABLE 168 SAUDI ARABIA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
                       13.5.1.2 South Africa
                                   13.5.1.2.1 Interest in Generation II and III technologies to boost demand for small modular reactors
                                   TABLE 169 SOUTH AFRICA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2019–2021 (USD MILLION)
                                   TABLE 170 SOUTH AFRICA: SMALL MODULAR REACTOR MARKET, BY APPLICATION,  2022–2030 (USD MILLION)
             13.5.2 REST OF MIDDLE EAST & AFRICA
                       TABLE 171 REST OF MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)
                       TABLE 172 REST OF MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)
 
14 COMPETITIVE LANDSCAPE (Page No. - 177)
     14.1 OVERVIEW 
               FIGURE 47 KEY DEVELOPMENTS IN SMALL MODULAR REACTOR MARKET, 2019 TO 2023
     14.2 MARKET EVALUATION FRAMEWORK 
               TABLE 173 MARKET EVALUATION FRAMEWORK, 2019–2023
     14.3 RECENT DEVELOPMENTS 
             14.3.1 DEALS
                       14.3.1.1 Small modular reactor market: Deals, 2019–2023
             14.3.2 OTHERS
                       14.3.2.1 Small modular reactor market: Others, 2019–2023
     14.4 COMPANY EVALUATION MATRIX 
             14.4.1 STARS
             14.4.2 EMERGING LEADERS
             14.4.3 PERVASIVE PLAYERS
             14.4.4 PARTICIPANTS
                       FIGURE 48 SMALL MODULAR REACTOR MARKET: COMPANY EVALUATION MATRIX, 2022
                       TABLE 174 COMPANY TYPE FOOTPRINT: SMALL MODULAR REACTOR, 2019–2023
                       TABLE 175 COMPANY APPLICATION FOOTPRINT: SMALL MODULAR REACTOR, 2019–2023
                       TABLE 176 COMPANY REGION FOOTPRINT: SMALL MODULAR REACTOR, 2019-2023
 
15 COMPANY PROFILES (Page No. - 197)
     15.1 KEY PLAYERS 
(Business Overview, Products/Solutions/Services offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
             15.1.1 WESTINGHOUSE ELECTRIC COMPANY LLC
                       TABLE 177 WESTINGHOUSE ELECTRIC COMPANY LLC: BUSINESS OVERVIEW
                       TABLE 178 WESTINGHOUSE ELECTRIC COMPANY LLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 179 WESTINGHOUSE ELECTRIC COMPANY LLC: DEALS 
                       TABLE 180 WESTINGHOUSE ELECTRIC COMPANY LLC: OTHERS
             15.1.2 NUSCALE POWER, LLC.
                       TABLE 181 NUSCALE POWER, LLC.: BUSINESS OVERVIEW
                       TABLE 182 NUSCALE POWER, LLC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 183 NUSCALE POWER, LLC.: DEALS
                       TABLE 184 NUSCALE POWER, LLC.: OTHERS
             15.1.3 TERRESTRIAL ENERGY INC.
                       TABLE 185 TERRESTRIAL ENERGY INC.: BUSINESS OVERVIEW
                       TABLE 186 TERRESTRIAL ENERGY INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 187 TERRESTRIAL ENERGY INC.: DEALS
                       TABLE 188 TERRESTRIAL ENERGY INC.: OTHERS
             15.1.4 MOLTEX ENERGY
                       TABLE 189 MOLTEX ENERGY: BUSINESS OVERVIEW
                       TABLE 190 MOLTEX ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 191 MOLTEX ENERGY: DEALS
             15.1.5 GE HITACHI NUCLEAR ENERGY
                       TABLE 192 GE HITACHI NUCLEAR ENERGY: BUSINESS OVERVIEW
                       TABLE 193 GE HITACHI NUCLEAR ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 194 GE HITACHI NUCLEAR ENERGY: DEALS
                       TABLE 195 GE HITACHI NUCLEAR ENERGY: OTHERS
             15.1.6 X-ENERGY, LLC.
                       TABLE 196 X-ENERGY, LLC.: BUSINESS OVERVIEW
                       TABLE 197 X-ENERGY, LLC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 198 X-ENERGY, LLC.: DEALS
             15.1.7 HOLTEC INTERNATIONAL
                       TABLE 199 HOLTEC INTERNATIONAL: BUSINESS OVERVIEW
                       TABLE 200 HOLTEC INTERNATIONAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 201 HOLTEC INTERNATIONAL: DEALS
             15.1.8 GENERAL ATOMICS
                       TABLE 202 GENERAL ATOMICS: BUSINESS OVERVIEW
                       TABLE 203 GENERAL ATOMICS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 204 GENERAL ATOMICS: DEALS
             15.1.9 ARC CLEAN ENERGY, INC.
                       TABLE 205 ARC CLEAN ENERGY, INC.: BUSINESS OVERVIEW
                       TABLE 206 ARC CLEAN ENERGY, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 207 ARC CLEAN ENERGY, INC.: DEALS
                       TABLE 208 ARC CLEAN ENERGY, INC.: OTHERS
             15.1.10 LEADCOLD REACTORS
                       TABLE 209 LEADCOLD REACTORS: BUSINESS OVERVIEW
                       TABLE 210 LEADCOLD REACTORS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 211 LEADCOLD REACTORS: DEALS
             15.1.11 ROLLS-ROYCE PLC
                       TABLE 212 ROLLS-ROYCE PLC: BUSINESS OVERVIEW
                       FIGURE 49 ROLLS-ROYCE PLC: COMPANY SNAPSHOT
                       TABLE 213 ROLLS-ROYCE PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 214 ROLLS-ROYCE PLC: DEALS
             15.1.12 ULTRA SAFE NUCLEAR
                       TABLE 215 ULTRA SAFE NUCLEAR: BUSINESS OVERVIEW
                       TABLE 216 ULTRA SAFE NUCLEAR: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 217 ULTRA SAFE NUCLEAR: DEALS
                       TABLE 218 ULTRA SAFE NUCLEAR: OTHERS
             15.1.13 TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION
                       TABLE 219 TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: BUSINESS OVERVIEW
                       TABLE 220 TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             15.1.14 TOKAMAK ENERGY LTD.
                       TABLE 221 TOKAMAK ENERGY LTD.: BUSINESS OVERVIEW
                       TABLE 222 TOKAMAK ENERGY LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 223 TOKAMAK ENERGY LTD.: DEALS
             15.1.15 SNC-LAVALIN GROUP
                       TABLE 224 SNC-LAVALIN GROUP: BUSINESS OVERVIEW
                       FIGURE 50 SNC-LAVALIN GROUP: COMPANY SNAPSHOT
                       TABLE 225 SNC-LAVALIN GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 226 SNC-LAVALIN GROUP: DEALS
     15.2 OTHER PLAYERS 
             15.2.1 AFRIKANTOV OKB MECHANICAL ENGINEERING
             15.2.2 CHINA NATIONAL NUCLEAR CORPORATION
             15.2.3 FRAMATOME
             15.2.4 U-BATTERY
             15.2.5 SEABORG TECHNOLOGIES
*Details on Business Overview, Products/Solutions/Services offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
 
16 APPENDIX (Page No. - 257)
     16.1 INSIGHTS FROM INDUSTRY EXPERTS 
     16.2 DISCUSSION GUIDE 
     16.3 KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL 
     16.4 CUSTOMIZATION OPTIONS 
     16.5 RELATED REPORTS 
     16.6 AUTHOR DETAILS 

This study involved major activities in estimating the current size of the Small modular reactor market. Comprehensive secondary research was done to collect information on the market, peer market, and parent market. The next step involved was validation of these findings, assumptions, and market sizing with industry experts across the value chain through primary research. The total market size was estimated through country-wise analysis. Then, the market breakdown and data triangulation were performed to estimate the market size of the segments and sub-segments.

Secondary Research

The secondary research involved the use of extensive secondary sources, directories, and databases, such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the global small modular reactor market. The other secondary sources comprised press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturers, associations, trade directories, and databases.

Primary Research

The Small modular reactor market comprises several stakeholders, such as product manufacturers, service providers, distributors, and end-users in the supply chain. The demand-side of this market is characterized by industrial end-users. Moreover, the demand is also fueled by the growing demand of underground distribution systems. The supply side is characterized by rising demand for contracts from the industrial sector, and mergers & acquisitions among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Following is the breakdown of primary respondents:

Small Modular Reactor Market  Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

  • The bottom-up approach has been used to estimate and validate the size of the Small modular reactor market.
  • In this approach, the Small modular reactor production statistics for each application have been considered at a country and regional level.
  • Extensive secondary and primary research has been carried out to understand the global market scenario for various types of Small modular reactors.
  • Several primary interviews have been conducted with key opinion leaders related to Small modular reactor system development, including key OEMs and Tier I suppliers.
  • Qualitative aspects such as market drivers, restraints, opportunities, and challenges have been taken into consideration while calculating and forecasting the market size.

Small modular reactor Market Size: Tow-Down Approach

Small Modular Reactor Market  Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Small modular reactor Market Size: Bottom-Up Approach

Small Modular Reactor Market  Size, and Share

Data Triangulation

The overall market size is estimated using the market size estimation processes as explained above, followed by splitting of the market into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the Small modular reactor market ecosystem.

Market Definition

The growth of the small modular reactor market during the forecast period can be attributed to the increasing modularization of SMR, its versatile nature, and increasing construction of nuclear reactors the Americas, Europe, Asia Pacific, and the Middle East & Africa. "Small modular reactors (SMR) are defined as nuclear reactors generally 300 MWe equivalent or less, designed with modular technology using module factory fabrication, pursuing economies of series production and short construction times," according to the World Nuclear Association. The size and thermal output of SMRD varies. These reactors can be used for a variety of purposes, including power generation, process heating, desalination, and industrial applications. Light water or other coolants, such as gases, liquid metals, or molten salts, may be used in their designs. Small modular reactors have several advantages, including small physical footprints, lower capital investments as compared to standard nuclear power plants, the ability to site in locations that larger nuclear facilities cannot, and options for incremental power enhancements.

Key Stakeholders

  • Consulting companies in the energy & power sector
  • Government and research organizations
  • Investment banks
  • Nuclear power plant operators
  • Power and energy associations
  • Small modular reactor support service providers
  • Manufacturers of small modular reactors
  • Small modular reactor component manufacturers and fuel fabricators
  • Power generation companies
  • Heavy industries

Objectives of the Study

  • To define, describe, and forecast the size of the Small modular reactor market by application, location, deployment, reactor type, coolant, connectivity, and power rating, in terms of value
  • To estimate and forecast the global Small modular reactor market for various segments with respect to 4 main regions, namely, Americas, Europe, Asia Pacific (APAC), Middle East & Africa, in terms of value
  • To provide comprehensive information about the drivers, restraints, opportunities, and industry-specific challenges that affect the market growth
  • To provide a detailed overview of the Small modular reactor value chain, along with industry trends, use cases, security standards, and Porter’s five forces
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the total market
  • To analyze the opportunities in the market for stakeholders by identifying high-growth segments and detail the competitive landscape for market players
  • To strategically profile key players and comprehensively analyze their market rankings and core competencies
  • To analyze competitive developments, such as joint ventures, mergers and acquisitions, contracts, and agreements, and new product launches, in the Small modular reactor market
  • To benchmark players within the market using the proprietary competitive leadership mapping framework, which analyzes market players on various parameters within the broad categories of business strategy excellence and strength of product portfolio
  • This report covers the Small modular reactor market size in terms of value and volume.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

Product Analysis

  • Product Matrix, which provides a detailed comparison of the product portfolio of each company

Company Information

  • Detailed analyses and profiling of additional market players
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