Report Ocean (150+ country’s markets analyzed, function on 1,00000+ published and forthcoming reports every year.] presents a research report and top winning strategies for the Small Modular Reactor. Best subject matter experts, researchers, and market research professionals organized this report in order to ensure that the information in it is compiled from the most authentic sources and that the forecast is of the highest accuracy. To forecast market growth, specialists employ a variety of methodologies and analytical approaches, including S.W.O.T. (analysis methods), P.E.S.T.E.L. analysis, and regression analysis. The Small Modular Reactor study also looks at the various regulations and policies that the firm has implemented. This report discusses the industry in terms of research technology and precise prospective utilization, innovation, and future advancements in the Small Modular Reactor.
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The global small modular reactor market revenue was US$ 4.06 billion in 2021. The global small modular reactor market revenue is forecast to reach US$ 18.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 16% during the forecast period from 2022 to 2030.
A small modular reactor (SMR) is a nuclear reactor with a power capability of less than 300MWe. Compared to traditional bulk reactors, SMRs are smaller and take less time to build. Due to the fact that an SMR is constructed in a factory using modules, and can achieve a high production rate. SMRs are still under development. The only three SMRs currently in advanced regulatory phases are the Power Modules from NuScale, the BWRX 300 from GE-Hitachi, and the Integral Molten Salt Reactor from Terrestrial Energy. SMRs can operate underground or as floating nuclear power plants. In addition to electricity generation, modular reactors use to desalinate seawater and heat processes. It is a safe, viable, and non-greenhouse gas emitted energy that is affordable, safe, and environmentally friendly.
Factors Influencing Market Growth
- Factors driving the global market include the growing demand for electricity and the flexibility in capacity and size of SMRs.
- The use of an advanced reactor and energy storage will reduce emissions by increasing nuclear energy use. During the forecast period, all of these factors are forecast to present opportunities for the global market.
- The deployment of small modular reactors faces stringent nuclear regulatory requirements, may negatively impact the global market’s growth.
- Due to cost reductions from modularization and factory production, the market for small modular reactors is forecast to expand rapidly. Moreover, the demand for clean, reliable, and stable nuclear energy is driving the market.
Impact Analysis of COVID-19
A pandemic has curtailed the development of small modular reactor technology and has begun to stall the expansion toward their commercialization. Initially, the impact is most apparent on the supply side for uranium, as several mines and nuclear facilities have suspended operations because of health concerns. There have been cutbacks in several major uranium mining countries, including Kazakhstan, Canada, and Namibia, which account for about two-thirds of world production. In addition, the pandemic has affected the design and construction schedules for reactors. Several conventional nuclear plants are currently experiencing extended outages caused by worker illness. With the delays in the design, licensing, and construction of small modular reactors and the decline in electricity demand, small modular reactor development suffered. Thus, all these factors had a negative impact on the global small modular reactor market.
Regional Insights
During the forecast period, Asia Pacific is forecast to be the largest market. It is due to the increased deployment of SMRs in countries such as China and Japan. In addition to constructing generation III coastal nuclear power plants, China intends to accelerate the development of SMRs and offshore floating nuclear reactors. Furthermore, Japan has implemented policy reforms aimed at decarbonizing its energy sector more quickly.
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Leading Competitors
The leading prominent companies profiled in the global small modular reactor market are:
- Brookfield, Fluor Corporation
- General Atomics
- General Electric
- Holtec International
- Mitsubishi Heavy Industries
- Rolls Royce Plc
- TerraPower LLC
- Terrestrial Energy
- X Energy LLC
- Other Prominent Players
Scope of the Report
The global small modular reactor market segmentation focuses on Reactor Type, Application, and Region.
Segmentation based on Reactor Type
- Heavy Water Reactor (HWR)
- Light Water Reactor (LWR)
- Pressurized-water Reactor
- Boiling-water Reactor
- High-Temperature Gas Reactor (HTR)
- Fast Neutron Reactor (FNR)
- Molten Salt Reactor (MSR)
Segmentation based on Application
- Desalination
- Power Generation
- Process Heat
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Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Small Modular Reactor Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Small Modular Reactor market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Small Modular Reactor Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Small Modular Reactor market Size Forecast (2023-2030).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Small Modular Reactor market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Small Modular Reactor market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Small Modular Reactor market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Small Modular Reactor business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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