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Small Modular Reactor Market by Reactor (HWR, LWR, HTR, FNR, MSR), Deployment (Single, Multi), Connectivity (Grid, Off-grid), Location (Land, Marine), Application (Power Generation, Desalination, Industrial), Coolant and Region - Global Forecast to 2030

Small Modular Reactor Market by Reactor (HWR, LWR, HTR, FNR, MSR), Deployment (Single, Multi), Connectivity (Grid, Off-grid), Location (Land, Marine), Application (Power Generation, Desalination, Industrial), Coolant and Region - Global Forecast to 2030

The small modular reactor market is projected to reach USD 7.0 billion by 2030 from an estimated USD 5.7 billion in 2022, at a CAGR of 2.7% during the forecast period. The cost reduction due to modularization and factory production is expected to drive the small modular reactor market growth. Furthermore, the need for clean, stable and reliable nuclear energy for the supply of baseload power is driving the market. However, stringent nuclear regulatory requirements for deployment of SMRs is likely to hamper the growth of small modular reactor market.

“The water segment, by coolant, is expected to be the largest and the fastest-growing market from 2022 to 2030”
The SMR market, by coolant is bifurcated into heavy liquid metals, water, gases and molten salts. The water segment is expected to hold the largest market share in 2030. The largest market share can be attributed to the increasing adoption of light-water reactors and heavy-water reactors across various regions.
“The multi-module power plant, by deployment, is expected to be the fastest-growing market from 2021 to 2026”
The multi-module power plant segment is expected to be the fastest-growing deployment segment during the forecast period, owing to the ease of financing additional modules. Multi-module SMR plants are easier to finance compared with large nuclear reactors, as SMRs require lower upfront investments for a unit, and additional capacity may be built over time. The ability to add modules incrementally in multi-module SMRs provides economies of series production. This, in turn, could permit investors and operators to adjust to the changes in demand for electricity and budgetary constraints to reduce financial risks. These factors are expected to drive the demand for SMRs for deployment in multi-module power plants.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.

The distribution of primary interviews is as follows:
By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%
By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
By Region: Asia Pacific- 33%, Middle East & Africa – 20%, Europe- 20%, and Americas 27%
Note: Others includes sales managers, marketing managers, product managers, and product engineers.

The tier of the companies is defined based on their total revenue as of 2017. Tier 1: USD 1 billion and above, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: The small modular reactor market is dominated by a few major players that have a wide regional presence. The leading players in the small modular reactor market Westinghouse Electric Corporation (US), NuScale Power, LLC. (US), GE Hitachi Nuclear Energy (US), Terrestrial Energy Inc. (Canada), Moltex Energy (Canada), X-energy (US), Hotec International (US), General Atomics (US), LeadCold Reactors (Sweden), ARC Clean Energy (Canada), Rolls-Royce (UK), Tokamak Energy (UK), Ultra Safe Nuclear (US), Toshiba Energy Systems & Solutions (Japan), SNC-Lavalin Group (Canada) and others.

Study Coverage:

The report defines, describes, and forecasts the small modular reactor market, by reactor type, connectivity, deployment, location, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the small modular reactor market.

Key Benefits of Buying the Report
1.The report identifies and addresses the key markets for small modular reactor operations and services, which would help equipment manufacturers and service providers review the growth in demand.
2.The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3.The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions

Table of Contents

1INTRODUCTION26
1.1STUDY OBJECTIVES26
1.2MARKET DEFINITION26
1.2.1INCLUSIONS AND EXCLUSIONS27
1.3MARKET SCOPE27
1.3.1MARKETS COVERED27
1.3.2REGIONAL SCOPE28
1.3.3YEARS CONSIDERED28
1.4CURRENCY CONSIDERED29
1.5LIMITATIONS29
1.6STAKEHOLDERS29
1.7SUMMARY OF CHANGES30
2RESEARCH METHODOLOGY31
2.1RESEARCH DATA31
FIGURE 1SMALL MODULAR REACTOR MARKET: RESEARCH DESIGN31
2.2DATA TRIANGULATION32
FIGURE 2DATA TRIANGULATION32
2.2.1SECONDARY DATA33
2.2.1.1Key data from secondary sources33
2.2.2PRIMARY DATA34
2.2.2.1Key data from primary sources34
FIGURE 3KEY INDUSTRY INSIGHTS34
2.2.2.2Breakdown of primaries35
FIGURE 4BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION35
2.3MARKET SIZE ESTIMATION36
2.3.1BOTTOM-UP APPROACH36
FIGURE 5MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH36
2.3.2TOP-DOWN APPROACH37
FIGURE 6MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH37
2.3.3DEMAND-SIDE ANALYSIS38
FIGURE 7DEMAND-SIDE CALCULATION38
FIGURE 8METRICS CONSIDERED FOR ANALYZING AND ASSESSING DEMAND FOR SMALL MODULAR REACTORS38
2.3.3.1Assumptions for demand-side analysis39
2.3.4FORECAST39

3EXECUTIVE SUMMARY40
TABLE 1SMALL MODULAR REACTOR MARKET: SNAPSHOT40
FIGURE 9ASIA PACIFIC DOMINATED SMALL MODULAR REACTOR MARKET IN 202141
FIGURE 10WATER SEGMENT TO ACCOUNT FOR LARGEST SHARE OF SMALL MODULAR REACTOR MARKET, BY COOLANT, FROM 2022 TO 203041
FIGURE 11LIGHT-WATER REACTORS TO ACCOUNT FOR LARGEST SHARE OF SMALL MODULAR REACTOR MARKET, BY TYPE, FROM 2022 TO 203042
FIGURE 12OFF-GRID SEGMENT TO LEAD SMALL MODULAR REACTOR MARKET DURING FORECAST PERIOD42
FIGURE 13MULTI-MODULE SEGMENT TO CONTINUE TO HOLD LARGER SHARE OF SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, DURING FORECAST PERIOD43
FIGURE 14LAND SEGMENT TO ACCOUNT FOR LARGER SHARE OF SMALL MODULAR REACTOR MARKET, BY LOCATION, DURING 2022–203043
FIGURE 15INDUSTRIAL SEGMENT TO CONTINUE TO ACCOUNT FOR LARGEST SIZE OF SMALL MODULAR REACTOR MARKET, BY APPLICATION, FROM 2022 TO 203044
4PREMIUM INSIGHTS45
4.1ATTRACTIVE OPPORTUNITIES FOR SMALL MODULAR REACTOR MARKET PLAYERS45
FIGURE 16LOW COST OF SMRS DUE TO MODULARIZATION AND FACTORY CONSTRUCTION IS EXPECTED TO DRIVE SMALL MODULAR REACTOR MARKET DURING 2022–203045
4.2SMALL MODULAR REACTOR MARKET, BY REGION46
FIGURE 17SMALL MODULAR REACTOR MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD46
4.3SMALL MODULAR REACTOR MARKET, BY COOLANT46
FIGURE 18WATER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE, BY COOLANT, IN 203046
4.4SMALL MODULAR REACTOR MARKET, BY TYPE47
FIGURE 19LIGHT-WATER REACTORS ACCOUNTED FOR LARGEST MARKET SHARE,
BY TYPE, IN 202147
4.5SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY47
FIGURE 20OFF-GRID SEGMENT HELD LARGER SHARE OF SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, IN 202147
4.6SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT48
FIGURE 21MULTI-MODULE POWER PLANT HELD LARGER SHARE OF SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, IN 202148
4.7SMALL MODULAR REACTOR MARKET, BY LOCATION48
FIGURE 22LAND SEGMENT DOMINATED SMALL MODULAR REACTOR MARKET,
BY LOCATION, IN 202148
4.8SMALL MODULAR REACTOR MARKET, BY APPLICATION49
FIGURE 23INDUSTRIAL SEGMENT DOMINATED SMALL MODULAR REACTOR MARKET,
BY APPLICATION, IN 202149
4.9SMALL MODULAR REACTOR MARKET IN ASIA PACIFIC, BY TYPE AND COUNTRY49
FIGURE 24LIGHT-WATER REACTORS AND CHINA WERE LARGEST SHAREHOLDERS IN SMALL MODULAR REACTOR MARKET IN ASIA PACIFIC IN 202149

5MARKET OVERVIEW50
5.1INTRODUCTION50
5.2MARKET DYNAMICS51
FIGURE 25SMALL MODULAR REACTOR MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES51
5.2.1DRIVERS51
5.2.1.1Versatile nature of nuclear power51
FIGURE 26GLOBAL LOW-CARBON ENERGY GENERATION, BY SOURCE, 2010–202052
5.2.1.2Benefits of modularization and factory construction52
5.2.2RESTRAINTS53
5.2.2.1Stringent regulatory policies and standards to deploy SMRs53
5.2.2.2Negative public perception of nuclear power technology53
5.2.3OPPORTUNITIES54
5.2.3.1Progression into sustainable future with net zero emission and decarbonization of energy sector54
5.2.3.2Integration of SMRs with renewable energy sources54
5.2.4CHALLENGES55
5.2.4.1Lack of standard licensing process55
5.3COVID-19 IMPACT56
5.4TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES56
5.4.1REVENUE SHIFT AND NEW REVENUE POCKETS FOR SMALL MODULAR REACTOR MARKET PLAYERS56
FIGURE 27REVENUE SHIFT OF SMALL MODULAR REACTOR PROVIDERS57
5.5PRICING ANALYSIS57
TABLE 2CAPEX OF SMALL MODULAR REACTOR PROJECTS, BY TYPE57
5.6SUPPLY CHAIN ANALYSIS58
FIGURE 28SMALL MODULAR REACTOR MARKET: SUPPLY CHAIN ANALYSIS58
5.6.1COMPONENT MANUFACTURERS58
5.6.2SMALL MODULAR REACTOR MANUFACTURERS58
5.6.3SMALL MODULAR REACTOR SUPPORT SERVICE PROVIDERS/ INTEGRATORS58
5.6.4END-USERS58
5.7ECOSYSTEM/MARKET MAP59
TABLE 3SMALL MODULAR REACTOR MARKET: ECOSYSTEM59
5.8KEY CONFERENCES AND EVENTS, 2022–202360
TABLE 4SMALL MODULAR REACTOR MARKET: LIST OF CONFERENCES AND EVENTS60
5.9SMALL MODULAR REACTOR MARKET: REGULATIONS61
5.9.1REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS61
TABLE 5NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS61
TABLE 6EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS61
TABLE 7ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS62
TABLE 8GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS62
5.9.2STANDARDS AND REGULATIONS62
TABLE 9SMALL MODULAR REACTOR MARKET: STANDARDS AND REGULATIONS62
5.10PATENT ANALYSIS65
5.11PORTER’S FIVE FORCES ANALYSIS69
FIGURE 29PORTER’S FIVE FORCES ANALYSIS FOR SMALL MODULAR REACTOR MARKET69
TABLE 10SMALL MODULAR REACTOR MARKET: PORTER’S FIVE FORCES ANALYSIS70
5.11.1THREAT OF SUBSTITUTES70
5.11.2BARGAINING POWER OF SUPPLIERS70
5.11.3BARGAINING POWER OF BUYERS70
5.11.4THREAT OF NEW ENTRANTS71
5.11.5INTENSITY OF COMPETITIVE RIVALRY71
5.12TECHNOLOGY ANALYSIS71
5.13TRADE ANALYSIS72
5.13.1EXPORT SCENARIO72
TABLE 11EXPORT SCENARIO FOR HS CODE: 840110, BY COUNTRY, 2017–2021 (USD MILLIONS)72
FIGURE 30EXPORT DATA FOR TOP 5 COUNTRIES, 2017–2021 (USD THOUSANDS)72
5.13.2IMPORT SCENARIO73
TABLE 12IMPORT SCENARIO FOR HS CODE: 840110, BY COUNTRY, 2017–2021 (USD MILLIONS)73
FIGURE 31IMPORT DATA FOR TOP 5 COUNTRIES, 2017–2021 (USD THOUSANDS)73
5.14KEY STAKEHOLDERS AND BUYING CRITERIA74
5.14.1KEY STAKEHOLDERS IN BUYING PROCESS74
FIGURE 32INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR THREE APPLICATIONS74
TABLE 13INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR THREE APPLICATIONS (%)74
5.14.2BUYING CRITERIA75
FIGURE 33KEY BUYING CRITERIA FOR THREE APPLICATIONS75
TABLE 14KEY BUYING CRITERIA FOR THREE APPLICATIONS75
6SMALL MODULAR REACTOR MARKET, BY COOLANT76
6.1INTRODUCTION77
FIGURE 34SMALL MODULAR REACTOR MARKET, BY COOLANT, 202177
TABLE 15SMALL MODULAR REACTOR MARKET, BY COOLANT, 2019–2030 (USD MILLION)77
6.2HEAVY LIQUID METALS78
6.2.1THERMODYNAMIC PROPERTIES OF HEAVY LIQUID METALS TO SUPPORT MARKET GROWTH78
TABLE 16HEAVY LIQUID METALS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)78

6.3WATER78
6.3.1CAN BE USED AS SUPER-CRITICAL COOLANT IN REACTORS78
TABLE 17WATER: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)78
6.4MOLTEN SALTS79
6.4.1HAVE POTENTIAL TO SERVE VARIED HIGH-TEMPERATURE APPLICATIONS79
TABLE 18MOLTEN SALTS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)79
6.5GASES79
6.5.1OFFER IMPROVED EFFICIENCY IN GAS-COOLED REACTOR-RELATED PROCESSES79
TABLE 19GASES: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)79
7SMALL MODULAR REACTOR MARKET, BY TYPE80
7.1INTRODUCTION81
FIGURE 35SMALL MODULAR REACTOR MARKET, BY TYPE, 2021 (USD MILLION)81
TABLE 20SMALL MODULAR REACTOR MARKET, BY TYPE, 2019–2030 (USD MILLION)81
7.2HEAVY-WATER REACTORS82
7.2.1USE NATURAL AND LOW ENRICHED URANIUM82
TABLE 21HEAVY-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)82
7.3LIGHT-WATER REACTORS82
7.3.1HAVE HIGH DEGREE OF TECHNOLOGICAL READINESS82
TABLE 22LIGHT-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)83
TABLE 23LIGHT-WATER REACTOR MARKET, BY SUBTYPE, 2019–2030 (USD MILLION)83
7.3.2PRESSURIZED-WATER REACTORS83
TABLE 24PRESSURIZED-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)84
7.3.3BOILING-WATER REACTORS84
TABLE 25BOILING-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)84
7.4HIGH-TEMPERATURE REACTORS85
7.4.1USEFUL IN VARIOUS HIGH-TEMPERATURE INDUSTRIAL APPLICATIONS85
TABLE 26HIGH-TEMPERATURE REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)85
7.5FAST-NEUTRON REACTORS86
7.5.1HELP REDUCE NUCLEAR WASTE86
TABLE 27FAST NEUTRON REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)86
7.5.2LEAD-COOLED REACTORS86
7.5.3LEAD-BISMUTH REACTORS87
7.5.4SODIUM-COOLED REACTORS87

7.6MOLTEN SALT REACTORS87
7.6.1LIKELY TO BE ADOPTED BY COUNTRIES THAT SPEND SIGNIFICANTLY ON NUCLEAR FUEL87
TABLE 28MOLTEN SALT REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)88
8SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY89
8.1INTRODUCTION90
FIGURE 36SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 202190
TABLE 29SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2019–2030 (USD MILLION)90
8.2OFF-GRID91
8.2.1REQUIREMENT FOR CLEAN, FLEXIBLE, AND RELIABLE POWER GENERATION91
TABLE 30OFF-GRID: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)91
8.3GRID-CONNECTED92
8.3.1INTEGRATION OF RENEWABLES TO STRENGTHEN MARKET GROWTH92
TABLE 31GRID-CONNECTED: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)92
9SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT93
9.1INTRODUCTION94
FIGURE 37SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 202194
TABLE 32SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 2019–2030 (USD MILLION)94
9.2SINGLE-MODULE POWER PLANT95
9.2.1RELATIVE EASE OF LICENSING TO DRIVE MARKET GROWTH95
TABLE 33SINGLE-MODULE POWER PLANT: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)95
9.3MULTI-MODULE POWER PLANT96
9.3.1EASE OF FINANCING ADDITIONAL UNITS OF MULTI-MODULE POWER PLANT TO DRIVE MARKET96
TABLE 34MULTI-MODULE POWER PLANT: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)96
10SMALL MODULAR REACTOR MARKET, BY LOCATION97
10.1INTRODUCTION98
FIGURE 38SMALL MODULAR REACTOR MARKET, BY LOCATION, 202198
TABLE 35SMALL MODULAR REACTOR MARKET, BY LOCATION, 2019–2030 (USD MILLION)98
10.2LAND99
10.2.1HIGHER THERMAL EFFICIENCY TO DRIVE MARKET99
TABLE 36LAND: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)99

10.3MARINE100
10.3.1DEPLOYMENT IN ISLANDS, REMOTE, AND COASTAL REGIONS TO BOOST MARKET GROWTH100
TABLE 37MARINE: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)100
11SMALL MODULAR REACTOR MARKET, BY APPLICATION101
11.1INTRODUCTION102
FIGURE 39SMALL MODULAR REACTOR MARKET: BY APPLICATION, 2021102
TABLE 38SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)102
11.2POWER GENERATION103
11.2.1EASE OF SITING AND OPERATING FLEXIBILITY DRIVE DEMAND FOR SMALL MODULAR REACTORS IN POWER GENERATION APPLICATIONS103
TABLE 39POWER GENERATION: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)103
11.3DESALINATION103
11.3.1INCREASING DEMAND FOR POTABLE WATER IN ARID AND SEMI-ARID ZONES DRIVES MARKET GROWTH103
TABLE 40DESALINATION: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)104
11.4INDUSTRIAL104
11.4.1ANTICIPATED DEPLOYMENT OF SMR IN DIVERSE INDUSTRIAL APPLICATIONS TO BOOST MARKET GROWTH104
TABLE 41INDUSTRIAL: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)104
TABLE 42SMALL MODULAR REACTOR MARKET, BY INDUSTRIAL, 2019–2030 (USD MILLION)105
TABLE 43PROCESS HEAT: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)105
TABLE 44OTHERS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)105
11.4.2PROCESS HEAT106
11.4.3CAPTIVE ELECTRICITY GENERATION106
11.4.4DISTRICT HEATING106
11.5HYDROGEN PRODUCTION106
11.5.1ABILITY TO MAXIMIZE LOAD FACTORS AND POWER PLANT EFFICIENCY TO DRIVE MARKET106
TABLE 45HYDROGEN PRODUCTION: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)107

12GEOGRAPHIC ANALYSIS108
12.1INTRODUCTION109
FIGURE 40SMALL MODULAR REACTOR MARKET IN ASIA PACIFIC TO REGISTER HIGHEST CAGR FROM 2022 TO 2030109
FIGURE 41SMALL MODULAR REACTOR MARKET SHARE, BY REGION, 2021 (%)110
TABLE 46SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2030 (USD MILLION)110
12.2ASIA PACIFIC110
FIGURE 42ASIA PACIFIC: SNAPSHOT OF SMALL MODULAR REACTOR MARKET IN 2021111
TABLE 47ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY COOLANT, 2019–2030 (USD MILLION)111
TABLE 48ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY TYPE, 2019–2030 (USD MILLION)112
TABLE 49ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2019–2030 (USD MILLION)112
TABLE 50ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 2019–2030 (USD MILLION)112
TABLE 51ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY LOCATION, 2019–2030 (USD MILLION)112
TABLE 52ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)113
TABLE 53ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY COUNTRY, 2019–2030 (USD MILLION)113
12.2.1CHINA113
12.2.1.1Deploys SMRs in coastal, island, and offshore areas113
TABLE 54CHINA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)114
12.2.2JAPAN114
12.2.2.1Integrates renewable energy sources with SMRs114
TABLE 55JAPAN: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)115
12.2.3INDIA115
12.2.3.1Witnesses prevailing negative perspective about nuclear power technology115
TABLE 56INDIA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)116
12.2.4SOUTH KOREA116
12.2.4.1Develops SMRs for floating power plants116
TABLE 57SOUTH KOREA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)117
12.2.5REST OF ASIA PACIFIC117
TABLE 58REST OF ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)118

12.3EUROPE118
FIGURE 43EUROPE: SMALL MODULAR REACTOR MARKET SNAPSHOT, 2021119
TABLE 59EUROPE: SMALL MODULAR REACTOR MARKET, BY COOLANT, 2019–2030 (USD MILLION)119
TABLE 60EUROPE: SMALL MODULAR REACTOR MARKET, BY TYPE, 2019–2030 (USD MILLION)120
TABLE 61EUROPE: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2019–2030 (USD MILLION)120
TABLE 62EUROPE: MODULAR REACTOR MARKET, BY DEPLOYMENT, 2019–2030 (USD MILLION)120
TABLE 63EUROPE: SMLL MODULAR REACTOR MARKET, BY LOCATION, 2019–2030 (USD MILLION)120
TABLE 64EUROPE: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)121
TABLE 65EUROPE: SMALL MODULAR REACTOR MARKET, BY COUNTRY, 2019–2030 (USD MILLION)121
12.3.1RUSSIA121
12.3.1.1Adopts SMRs for power generation in remote areas121
TABLE 66RUSSIA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)122
12.3.2UK122
12.3.2.1Government is keen on investing in SMR programs122
TABLE 67UK: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)123
12.3.3FRANCE123
12.3.3.1Witnesses limited market due to referendum against nuclear power123
TABLE 68FRANCE: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)124
12.3.4REST OF EUROPE124
TABLE 69REST OF EUROPE: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)125
12.4AMERICAS125
TABLE 70AMERICAS: SMALL MODULAR REACTOR MARKET, BY COOLANT, 2019–2030 (USD MILLION)126
TABLE 71AMERICAS: SMALL MODULAR REACTOR MARKET, BY TYPE, 2019–2030 (USD MILLION)126
TABLE 72AMERICAS: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2019–2030 (USD MILLION)126
TABLE 73AMERICAS: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 2019–2030 (USD MILLION)127
TABLE 74AMERICAS: SMALL MODULAR REACTOR MARKET, BY LOCATION, 2019–2030 (USD MILLION)127
TABLE 75AMERICAS: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)127
TABLE 76AMERICAS: SMALL MODULAR REACTOR MARKET, BY COUNTRY, 2019–2030 (USD MILLION)127

12.4.1US128
12.4.1.1US government has launched SMR Licensing Technical Support128
TABLE 77US: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)129
12.4.2CANADA129
12.4.2.1Witnesses demand from remote locations129
TABLE 78CANADA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)130
12.4.3ARGENTINA130
12.4.3.1Focused on power generation and desalination130
TABLE 79ARGENTINA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)131
12.5MIDDLE EAST & AFRICA131
TABLE 80MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY COOLANT, 2019–2030 (USD MILLION)131
TABLE 81MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY TYPE, 2019–2030 (USD MILLION)132
TABLE 82MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2019–2030 (USD MILLION)132
TABLE 83MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 2019–2030 (USD MILLION)132
TABLE 84MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY LOCATION, 2019–2030 (USD MILLION)133
TABLE 85MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)133
TABLE 86MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY COUNTRY, 2019–2030 (USD MILLION)133
12.5.1SAUDI ARABIA134
12.5.1.1Keen on reducing dependency on fossil fuels to generate power134
TABLE 87SAUDI ARABIA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)135
12.5.2SOUTH AFRICA135
12.5.2.1Interested in Generation II and III technologies135
TABLE 88SOUTH AFRICA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)136
12.5.3REST OF MIDDLE EAST & AFRICA136
TABLE 89REST OF MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2030 (USD MILLION)136
13COMPETITIVE LANDSCAPE137
13.1OVERVIEW137
FIGURE 44KEY DEVELOPMENTS IN SMALL MODULAR REACTOR MARKET, 2018 TO 2022138
13.2MARKET EVALUATION FRAMEWORK139
TABLE 90MARKET EVALUATION FRAMEWORK, 2018–2022139

13.3RECENT DEVELOPMENTS140
13.3.1DEALS140
13.3.1.1Small modular reactor market: Deals, 2018–2022140
13.3.2OTHERS141
13.3.2.1Small modular reactor market: Others, 2018–2022141
13.4COMPETITIVE LEADERSHIP AND MAPPING142
13.4.1STARS142
13.4.2EMERGING LEADERS142
13.4.3PERVASIVE PLAYERS142
13.4.4PARTICIPANTS142
FIGURE 45SMALL MODULAR REACTOR MARKET: COMPETITIVE LEADERSHIP MAPPING, 2021143
TABLE 91COMPANY TYPE FOOTPRINT144
TABLE 92COMPANY APPLICATION FOOTPRINT145
TABLE 93COMPANY REGION FOOTPRINT146
14COMPANY PROFILES148
14.1KEY PLAYERS148
(Business overview, Products/solutions/services offered, Recent Developments, MNM view)*
14.1.1WESTINGHOUSE ELECTRIC COMPANY LLC148
TABLE 94WESTINGHOUSE ELECTRIC COMPANY LLC: BUSINESS OVERVIEW148
TABLE 95WESTINGHOUSE ELECTRIC COMPANY LLC: PRODUCTS OFFERED149
TABLE 96WESTINGHOUSE ELECTRIC COMPANY LLC: OTHERS152
14.1.2NUSCALE POWER, LLC.154
TABLE 97NUSCALE POWER, LLC.: BUSINESS OVERVIEW154
TABLE 98NUSCALE POWER, LLC.: PRODUCTS OFFERED154
TABLE 99NUSCALE POWER, LLC.: DEALS155
TABLE 100NUSCALE POWER, LLC.: OTHERS160
14.1.3TERRESTRIAL ENERGY INC.162
TABLE 101TERRESTRIAL ENERGY INC.: BUSINESS OVERVIEW162
TABLE 102TERRESTRIAL ENERGY INC.: PRODUCTS OFFERED162
TABLE 103TERRESTRIAL ENERGY INC.: DEALS163
TABLE 104TERRESTRIAL ENERGY INC.: OTHERS166
14.1.4MOLTEX ENERGY168
TABLE 105MOLTEX ENERGY: BUSINESS OVERVIEW168
TABLE 106MOLTEX ENERGY: PRODUCTS OFFERED168
TABLE 107MOLTEX ENERGY: DEALS169
14.1.5GE HITACHI NUCLEAR ENERGY173
TABLE 108GE HITACHI NUCLEAR ENERGY: BUSINESS OVERVIEW173
TABLE 109GE HITACHI NUCLEAR ENERGY: PRODUCTS OFFERED173
TABLE 110GE HITACHI NUCLEAR ENERGY: DEALS174
TABLE 111GE HITACHI NUCLEAR ENERGY: OTHERS175
14.1.6X ENERGY, LLC.177
TABLE 112X ENERGY, LLC.: BUSINESS OVERVIEW177
TABLE 113X ENERGY, LLC.: PRODUCTS OFFERED177
TABLE 114X ENERGY, LLC.: DEALS178
14.1.7HOLTEC INTERNATIONAL180
TABLE 115HOLTEC INTERNATIONAL: BUSINESS OVERVIEW180
TABLE 116HOLTEC INTERNATIONAL: PRODUCTS OFFERED180
TABLE 117HOLTEC INTERNATIONAL: DEALS181
14.1.8GENERAL ATOMICS183
TABLE 118GENERAL ATOMICS: BUSINESS OVERVIEW183
TABLE 119GENERAL ATOMICS: PRODUCTS OFFERED183
TABLE 120GENERAL ATOMICS: DEALS184
14.1.9ARC CLEAN ENERGY, INC.186
TABLE 121ARC CLEAN ENERGY, INC.: BUSINESS OVERVIEW186
TABLE 122ARC CLEAN ENERGY, INC.: PRODUCTS OFFERED186
TABLE 123ARC CLEAN ENERGY, INC.: DEALS187
TABLE 124ARC CLEAN ENERGY, INC.: OTHERS188
14.1.10LEADCOLD REACTORS189
TABLE 125LEADCOLD REACTORS: BUSINESS OVERVIEW189
TABLE 126LEADCOLD REACTORS: PRODUCTS OFFERED189
TABLE 127LEADCOLD REACTORS: DEALS190
14.1.11ROLLS-ROYCE PLC191
TABLE 128ROLLS-ROYCE PLC: BUSINESS OVERVIEW191
FIGURE 46ROLLS-ROYCE PLC: COMPANY SNAPSHOT192
TABLE 129ROLLS-ROYCE PLC: PRODUCTS OFFERED192
TABLE 130ROLLS-ROYCE PLC: DEALS193
14.1.12ULTRA SAFE NUCLEAR195
TABLE 131ULTRA SAFE NUCLEAR: BUSINESS OVERVIEW195
TABLE 132ULTRA SAFE NUCLEAR: PRODUCTS OFFERED195
TABLE 133ULTRA SAFE NUCLEAR: DEALS196
TABLE 134ULTRA SAFE NUCLEAR: OTHERS198
14.1.13TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION199
TABLE 135TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: BUSINESS OVERVIEW199
TABLE 136TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION:
PRODUCTS OFFERED199
14.1.14TOKAMAK ENERGY LTD.201
TABLE 137TOKAMAK ENERGY LTD.: BUSINESS OVERVIEW201
TABLE 138TOKAMAK ENERGY LTD.: PRODUCTS OFFERED201
TABLE 139TOKAMAK ENERGY LTD.: DEALS202
14.1.15SNC-LAVALIN GROUP204
TABLE 140SNC-LAVALIN GROUP: BUSINESS OVERVIEW204
FIGURE 47SNC-LAVALIN GROUP: COMPANY SNAPSHOT205
TABLE 141SNC-LAVALIN GROUP: PRODUCTS OFFERED205
TABLE 142SNC-LAVALIN GROUP: DEALS206
14.1.16MOZWELI GROUP207
TABLE 143MOZWELI GROUP: BUSINESS OVERVIEW207
14.2OTHER PLAYERS208
14.2.1AFRIKANTOV OKB MECHANICAL ENGINEERING208
14.2.2CHINA NATIONAL NUCLEAR CORPORATION209
14.2.3FRAMATOME209
14.2.4U-BATTERY210
14.2.5SEABORG TECHNOLOGIES210
*Details on Business overview, Products/solutions/services offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
15APPENDIX211
15.1INSIGHTS OF INDUSTRY EXPERTS211
15.2DISCUSSION GUIDE212
15.3KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL215
15.4CUSTOMIZATION OPTIONS217
15.5RELATED REPORTS217
15.6AUTHOR DETAILS218

Report Title: Small Modular Reactor Market by Reactor (HWR, LWR, HTR, FNR, MSR), Deployment (Single, Multi), Connectivity (Grid, Off-grid), Location (Land, Marine), Application (Power Generation, Desalination, Industrial), Coolant and Region - Global Forecast to 2030


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