Global Small Modular Reactors Market

Global Small Modular Reactors Market by Type (molten salt reactors (MSR), pressurized water reactor (PWR), sodium fast reactor (SFR), high temperature reactor (HTR), fast neutron reactor (FNR), and others), By Application (power and energy, oil and gas, shipping and others) By and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)

  • Report ID: EP-69
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 12
  • No. Of Pages: 188
  • Format:
  • Pub. Date: 2020-10-09
  • Share:

Market Outlook:

The Global Small Modular Reactors Market was valued at USD 4.6 Billion in 2019 and is projected to reach around USD 325.2 Billion by 2035 in terms of conservative scenario expanding at a CAGR of 30.6% during the period, 2019 and 2035. The market is expected to grow owing to increase in population worldwide and with that rising demand for power and energy. The demand for SMR is growing rapidly in accordance with the growth in the demand for electricity across the globe. Rising population and disposable income of people across the globe are driving the need for electricity, and hence the demand for small modular Reactors.

Small Modular Reactors Market Snapshot

Additionally, the small modular reactors market is driven by increasing demand from the shipping segment and oil & gas processing units, and other types of processing units where heat and energy are required on a large scale. The advantages of small modular reactors and vendor claims as per the current designing models is leading to rising popularity of the SMRs over large reactors. Moreover, the large reactors have their substantial position in the areas of huge energy production requirement but the factors such as less emission, less need of raw material, and modular design are helping SMRs to gain popularity.

Market Dynamics
The boom in electricity consumption across residential and industrial sectors is boosting the focus of governments to use sustainable power generation methods over conventional ones to reduce their carbon footprint. Additionally, rising electrification of connected devices, transport, and other essential services is fueling the demand for more electricity, which in turn, is boosting the demand for small modular reactors due to their less carbon emission.

Rising inclination toward generating clean energy is anticipated to create lucrative opportunities in the market. Moreover, Governments from around the globe are aware about crumpling balance of the environment and are taking strong actions to save the environment, which includes the implementation of stringent rules against harmful emission. These rules are driving new investors toward small modular reactors. Besides, the capital required to set up a small modular reactor plant is less than that required for conventional reactor plants. Small modular reactors require less construction, which reduces the need for investments. Furthermore, modular design of SMRs makes is easier to transport and install on location. These factors reduce the final cost of the reactor installation on location. Although Small modular reactors are ideal for remote locations and their installation costs are lower than those required for conventional nuclear reactors. Economical and business perspectives to match up with the cost invested. Production has to be large scale. If the demand for products produced by end use industries is not enough, it can turn into a huge loss. This is reducing investments in small modular reactor plants, which in turn, is hampering the market.

Segmental Outlook

By Type Segment
On the basis of types, the small modular reactors market is segmented into molten salt reactors (MSR), pressurized water reactor (PWR), sodium fast reactor (SFR), high temperature reactor (HTR), fast neutron reactor (FNR), and others. The pressurized water reactor segment accounted for a major share of the market in 2019, as it used for generating electricity and propel naval vessels and nuclear submarines. Among the second generation rectors, pressurized water reactor are consider to be the cleanest reactor and they provide multiple barrier of safety. These reactors are consider ideal for naval ships, as they generate high power (high more to their mass) by using high pressure. Hence, the demand of pressurized water reactor is high around the world. The molten salt reactors generator low waste and are highly efficient at producing electricity, which in turn, are projected to fuel the segment. Moreover, molten salt reactors have low operating pressures, as they reduce the loss of coolants and risk of large break thereby, enhancing safety of the reactor. In terms of applications, the market is segregated into power & energy, oil & gas, shipping, and others.

Small Modular Reactors Market By Type

By Application Segment
In terms of applications, Small Modular Reactors Market is segmented into power and energy, oil and gas, shipping and others. The power ad electricity segment accounted for a highest market share in 2019. Owing to the growing population and with that the rise in demand for power and electricity. The oil & gas segment is likely to expand at a significant CAGR of during the forecast period. As the natural oils and gases are used for many of its applications. The water desalination from the others segment is projected to hold second position in terms of growth during forecast period.

Small Modular Reactors Market By End-User

Regional Outlook

Based on regions, the global Small Modular Reactors Market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. : Asia Pacific has the most number of end-users of SMRs due to the high demand for electricity from the oil & gas industry and the presence a growing shipping industry in this region. Russia have one floating nuclear power station to supply electricity to the remote areas in the country. The plant is expected to produce enough energy for 100000+ residents in remote locations of Russia. Europe and North America region are expected to show a significant growth as US and Canada are investing more in sustainable energy sources.

Small Modular Reactors Market By Region

Competitive Landscape

  • Key players in the market include Rolls-Royce Holdings plc, KOREA ELECTRIC POWER CORPORATION (KEPCO),X-Energy, LLC,GENERAL, ELECTRIC COMPANY, Holtec International, INVAP, NuScale Power, LLC, Nuclear Power Corporation of India Limited, General Atomics, Terrestrial Energy Inc., Toshiba Energy Systems & Solutions Corporation, KAERI, Moltex Energy Ltd, AFRIKANTOV OKBM, OKB "GIDROPRESS”. These players are considered as key players of the market based on their availability of SMR research and development programs, regional presence, better supply chain management system, and the increasing contract for the SMR products.
  • The players are adopting key strategies such as constant R&D activities for developing sustainable designing. Moreover, Investment and collaboration with companies and government for establishment of the public private partnership for better nuclear power plant designing.

Key Benefits for Industry Participants & Stakeholders

  • In-depth Analysis of the Small Modular Reactors market.
  • Historical, Current and Projected Market Size in terms of Value
  • Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
  • Industry Drivers, Restraints and Opportunities Covered in the Study
  • Recent Industry Trends and Developments
  • Competitive Landscape & Strategies of Key Players
  • Neutral Perspective on Global Small Modular Reactors Market Performance
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Small Modular Reactors  Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Small Modular Reactors  Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Small Modular Reactors  Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Small Modular Reactors  Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Small Modular Reactors Market: Impact Of Key Regulations

   4.6 Global Molten Salt Reactors (MSR) Market Snapshot
   4.7 Small Modular Reactors Comparison, by Types
   4.8 Recent Small Modular Reactors Projects Snapshot
   4.9 Small Modular Reactors Global Capacity (MWe) Growth Outlook
   4.10 Small Modular Reactors and large reactors Comparison
   4.11 Projected share of Small Modular Reactors in nuclear new build in 2020-2035
Chapter 5 Global Small Modular Reactors  Market Analysis and Forecast By Type
   5.1 Key Market Trends & Growth Opportunities By Type
   5.2 Small Modular Reactors  Market Size Forecast By Type
      5.2.1 Molten Salt Reactors (MSRs)
      5.2.2 Pressurized Water Reactors (PWRs)
      5.2.3 Sodium Fast Reactors (SFRs)
      5.2.4 High Temperature Reactors (HTRs)
      5.2.5 Fast Neutron Reactors (FNRs)
      5.2.6 Others
   5.3 Market Share Comparison By Type
Chapter 6 Global Small Modular Reactors  Market Analysis and Forecast By End-user
   6.1 Key Market Trends & Growth Opportunities By End-user
   6.2 Small Modular Reactors  Market Size Forecast By End-user
      6.2.1 Power & Energy
      6.2.2 Oil & Gas
      6.2.3 Shipping
      6.2.4 Others
   6.3 Market Share Comparison By End-user
Chapter 7 Global Small Modular Reactors  Market Analysis and Forecast by Region
   7.1 Key Market Trends & Growth Opportunities by Region
   7.2 Small Modular Reactors  Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Share Comparison By Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
   8.1 Introduction
   8.2 Current & Future Impact Analysis
   8.3 Economic Impact Analysis
   8.4 Government Policies
   8.5 Investment Scenario
Chapter 9 North America Small Modular Reactors  Analysis and Forecast
   9.1 Introduction
   9.2 North America Small Modular Reactors  Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Market share comparison by Country
   9.4 North America Small Modular Reactors  Market Size Forecast By Type
      9.4.1 Molten Salt Reactors (MSRs)
      9.4.2 Pressurized Water Reactors (PWRs)
      9.4.3 Sodium Fast Reactors (SFRs)
      9.4.4 High Temperature Reactors (HTRs)
      9.4.5 Fast Neutron Reactors (FNRs)
      9.4.6 Others
   9.5 Market share comparison By Type 
   9.6 North America Small Modular Reactors  Market Size Forecast By End-user
      9.6.1 Power & Energy
      9.6.2 Oil & Gas
      9.6.3 Shipping
      9.6.4 Others
   9.7 Market share comparison By End-user 
Chapter 10 Europe Small Modular Reactors  Analysis and Forecast
   10.1 Introduction
   10.2 Europe Small Modular Reactors  Market Size Forecast by Country
      10.2.1 U.K.
      10.2.2 Russia
      10.2.3 Rest of Europe
   10.3 Market share comparison by Country
   10.4 Europe Small Modular Reactors  Market Size Forecast By Type
      10.4.1 Molten Salt Reactors (MSRs)
      10.4.2 Pressurized Water Reactors (PWRs)
      10.4.3 Sodium Fast Reactors (SFRs)
      10.4.4 High Temperature Reactors (HTRs)
      10.4.5 Fast Neutron Reactors (FNRs)
      10.4.6 Others
   10.5 Market share comparison By Type 
   10.6 Europe Small Modular Reactors  Market Size Forecast By End-user
      10.6.1 Power & Energy
      10.6.2 Oil & Gas
      10.6.3 Shipping
      10.6.4 Others
   10.7 Market share comparison By End-user
Chapter 11 Asia Pacific Small Modular Reactors  Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Small Modular Reactors  Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 Australia
      11.2.4 India
      11.2.5 South East Asia (SEA)
   11.3 Market share comparison by Country
   11.4 Asia Pacific Small Modular Reactors  Market Size Forecast By Type
      11.4.1 Molten Salt Reactors (MSRs)
      11.4.2 Pressurized Water Reactors (PWRs)
      11.4.3 Sodium Fast Reactors (SFRs)
      11.4.4 High Temperature Reactors (HTRs)
      11.4.5 Fast Neutron Reactors (FNRs)
      11.4.6 Others
   11.5 Market share comparison By Type 
   11.6 Asia Pacific Small Modular Reactors  Market Size Forecast By End-user
      11.6.1 Power & Energy
      11.6.2 Oil & Gas
      11.6.3 Shipping
      11.6.4 Others
   11.7 Market share comparison By End-user
Chapter 12 Latin America Small Modular Reactors  Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Small Modular Reactors  Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Chile

      12.2.4 Argentina
   12.3 Market share comparison by Country
   12.4 Latin America Small Modular Reactors  Market Size Forecast By Type
      12.4.1 Molten Salt Reactors (MSRs)
      12.4.2 Pressurized Water Reactors (PWRs)
      12.4.3 Sodium Fast Reactors (SFRs)
      12.4.4 High Temperature Reactors (HTRs)
      12.4.5 Fast Neutron Reactors (FNRs)
      12.4.6 Others
   12.5 Market share comparison By Type 
   12.6 Latin America Small Modular Reactors  Market Size Forecast By End-user
      12.6.1 Power & Energy
      12.6.2 Oil & Gas
      12.6.3 Shipping
      12.6.4 Others
   12.7 Market share comparison By End-user
Chapter 13 Middle East & Africa (MEA) Small Modular Reactors  Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Small Modular Reactors  Market Size Forecast by Country
      13.2.1 Tunisia
      13.2.2 South Africa
      13.2.3 M.E.
      13.2.4 Near East
   13.3 Market share comparison by Country
   13.4 MEA Small Modular Reactors  Market Size Forecast By Type
      13.4.1 Molten Salt Reactors (MSRs)
      13.4.2 Pressurized Water Reactors (PWRs)
      13.4.3 Sodium Fast Reactors (SFRs)
      13.4.4 High Temperature Reactors (HTRs)
      13.4.5 Fast Neutron Reactors (FNRs)
      13.4.6 Others
   13.5 Market share comparison By Type 
   13.6 MEA Small Modular Reactors  Market Size Forecast By End-user
      13.6.1 Power & Energy
      13.6.2 Oil & Gas
      13.6.3 Shipping
      13.6.4 Others
   13.7 Market share comparison By End-user
Chapter 14 Competition Landscape
   14.1 Small Modular Reactors Market: Competitive Dashboard
   14.2 Global Small Modular Reactors Market Concentration Analysis
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      14.3.1 Rolls-Royce Holdings plc
      14.3.2 KOREA ELECTRIC POWER CORPORATION (KEPCO)
      14.3.3 X-Energy, LLC
      14.3.4 GENERAL ELECTRIC COMPANY
      14.3.5 Holtec International
      14.3.6 INVAP
      14.3.7 NuScale Power, LLC
      14.3.8 Nuclear Power Corporation of India Limited
      14.3.9 General Atomics
      14.3.10 Terrestrial Energy Inc.
      14.3.11 Toshiba Energy Systems & Solutions Corporation
      14.3.12 KAERI
      14.3.13 Moltex Energy Ltd
      14.3.14 AFRIKANTOV OKBM
      14.3.15  OKB "GIDROPRESS
Key Segments Covered
By Product Type
  • Molten salt reactors (MSR)
  • Pressurized water reactor (PWR)
  • Sodium fast reactor (SFR)
  • High temperature reactor (HTR)
  • Fast neutron reactor (FNR)
  • Others
By Application
  • Power and energy
  • Oil and Gas
  • Shipping
  • Others
By Region
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Chile
  • Europe
    • U.K.
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • South East Asia (SEA)
    • Pakistan
  • Middle East & Africa (MEA)
    • Tunisia
    • South Africa
    • M.E.
    • Near East

Key Market Players Profiled in the Report
  • Rolls-Royce Holdings plc
  • KOREA ELECTRIC POWER CORPORATION (KEPCO)
  • X-Energy, LLC
  • GENERAL ELECTRIC COMPANY
  • Holtec International
  • INVAP
  • NuScale Power, LLC
  • Nuclear Power Corporation of India Limited
  • General Atomics
  • Terrestrial Energy Inc.
  • Toshiba Energy Systems & Solutions Corporation
  • KAERI
  • Moltex Energy Ltd
  • AFRIKANTOV OKBM
  • OKB “GIDROPRESS”

Buy Report

FAQ Section

Some frequently asked quetions about this report!

Additional company profiles can be provided on request.

Yes, the report covers types of Small Modular Reactors such as molten salt reactors (MSR), pressurized water reactor (PWR), sodium fast reactor (SFR), high temperature reactor (HTR), fast neutron reactor (FNR), and others

According to this Growth Market Reports report, the market from Small Modular Reactors is likely to register a CAGR of over 30% during period 2019 and 2035, with an anticipated valuation of USD 325.2 Billion in terms of conservative scenario and USD 520.6 billion in terms of high growth scenario by the end of the 2035.

In addition to market size (in USD Billion), SMR project snapshot, future share of SMR projects, SMT type comparison, Molten salt reactor market outlook, and impact of key regulations is available in final report.

The demand for SMR is growing rapidly in accordance with the growth in the demand for electricity across the globe. Rising population and disposable income of people across the globe are driving the need for electricity, and hence the demand for small modular reactors. Additionally, the small modular reactors are suitable for remote location energy generation and are scalable and flexible in terms of operations.

Power and energy, oil and gas, shipping and others are the key applications driving the market growth.

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

The market is expected to witness moderate impact of COVID-19 pandemic on the small modular reactors.

The base year considered for the global Small Modular Reactors market report is 2019. The forecast analysis is provided for year 2035 with two scenarios – High growth and conservative scenario.

Major Manufactures include Rolls-Royce Holdings plc, KOREA ELECTRIC POWER CORPORATION (KEPCO),X-Energy, LLC,GENERAL, ELECTRIC COMPANY, Holtec International, INVAP, NuScale Power, LLC, Nuclear Power Corporation of India Limited, General Atomics, Terrestrial Energy Inc., Toshiba Energy Systems & Solutions Corporation, KAERI, Moltex Energy Ltd, AFRIKANTOV OKBM, OKB "GIDROPRESS”and Others.