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

Abstract
The global small modular reactor market is estimated to grow from USD 6.8 billion by 2030 from an estimated of USD 5.8 billion in 2023; it is expected to record a CAGR of 2.3% during the forecast period. Increased investment in industrial production is driving the demand of small modular reactor market. According to the International Energy Agency, nuclear energy accounted for ~10% of the global electricity generation mix in 2021.

Asia Pacific, along with Europe and the Americas, provide lucrative opportunities for the deployment of SMRs owing to their small size, which enables siting feasibility in remote regions, isolated grids, islands, and small-scale grids. The governments of the US, the UK, and Canada have undertaken various policy initiatives to accelerate the development and commercialization of SMR technology.

“101–200 MW: The second largest- growing segment of the Small modular reactor market”

Based on by power rating of small modular reactor, the 101–200 MW segment is estimated to be the second largest-growing market from 2023 to 2028. The power rating of 101-200 MW holds a market share of 29.3% share of the small modular reactor market in 2022. In addition to power generation, small modular reactors (SMRs) in the range of 101 to 200 MW can indeed be actively used in the field of desalination.

Desalination is the process of converting seawater or brackish water into freshwater suitable for various purposes, including drinking water, agriculture, and industrial applications. SMRs can play a significant role in this domain by providing the necessary energy for desalination plants. The excess heat generated by the reactor can be utilized in thermal desalination methods such as multi-effect distillation (MED) or multi-stage flash (MSF) distillation. In these processes, the heat is used to evaporate seawater, leaving behind salt and impurities, and then condensing the vapor to produce freshwater.

“Molten Salt: The third largest- growing segment of the Small modular reactor market”

Based on by coolant of small modular reactor, the Molten Salt segment is estimated to be the third largest-growing market from 2023 to 2028. The salts concerned as primary coolants are mostly lithium-beryllium fluoride, and lithium fluoride. Molten Salt Reactors (MSRs) use molten fluoride salts as the primary coolant. Fluoride salts have very low vapor pressures even at high temperatures due to their good heat transfer properties. They are not damaged by radiation, do not react violently with air or water, and are inert to some common structural metals.

Using Molten salts as a coolant in the reactor will make them radioactive and can lead to the need for periodic maintenance. But the operational advantages of these salts are far more preferred than the disadvantages fueling the market for molten salts segment. MSRs have the flexibility to utilize various fuels, including uranium, plutonium, actinides derived from nuclear waste, and thorium. The choice of fuel depends on whether the MSRs are operating as fast reactors or not. One notable advantage of MSRs is their ability to operate at high temperatures, making them suitable for generating hydrogen and providing heat for diverse industrial applications.

“Desalination: The third-largest segment by application in Small modular reactor market”

The desalination segment, by applications, is projected to hold the third-largest market size during the forecast period. SMRs can be used for nuclear desalination, where potable water is produced from seawater in a facility. Desalination using an SMR may involve the use of electrical or thermal energy. The distillation process may require mainly heat, in addition to electricity for ancillary equipment, and the membrane process, which requires only electricity to provide pumping power. Desalination plants may also be designed to produce potable water or used as co-generation nuclear power plants to generate electricity.

Currently, the energy for desalination plants is mostly produced from fossil fuels, which causes several environmental concerns. Therefore, several countries are considering using SMRs for desalination. SMRs that generate low-temperature heat (280–325°C) are a viable option to fulfill the increasing demand for potable water, especially in areas with acute water shortages in several arid and semi-arid zones. Geographies such as Asia, the Middle East, and North Africa have immense potential for the deployment of SMRs for desalination. Harnessing the advantages of SMRs for desalination can enhance water security, promote sustainable development, and alleviate the strain on freshwater sources in a more environmentally friendly manner.

“Americas: The third fastest and third largest-growing region in Small modular reactor market”

Americas is estimated to hold the third largest and third fastest market share in the small modular reactor market. The scope of this regional market includes the US, Canada, and Argentina. The region houses some of the major SMR developers such as NuScale Power, LLC. (US), GE Hitachi Nuclear Energy (US), Moltex Energy (Canada), and Terrestrial Energy Inc. (Canada), which has helped the Americas in developing multiple SMR projects that are expected to be commercialized in the near future. According to the BP Statistical Review of World Energy 2021, the electricity generated from nuclear power accounted for 18.5% of the total electricity generation in the region.

The governments in this region have made several advancements in the development of SMRs. For instance, the US Department of Energy selected 13 projects in April 2018 to receive USD 60 million in cost-shared R&D funding for advanced SMR technologies as a part of grants under the US Industry Opportunities for Advance Nuclear Technology Development initiative.

The Department of Energy also established the Advanced Reactor Demonstration Program (ARDP) in May 2020 to provide funds (starting with USD 160 million) on a cost-sharing basis for the construction of two SMRs that are expected to become operational within seven years. Similarly, as a part of the initiatives by the Canadian government, Terrestrial Energy Inc. (Canada) received a grant of USD 14.9 million investment from Canada’s Strategic Innovation Fund to accelerate the development of its Integral Molten Salt Reactor (IMSR) in October 2020.

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- 35%, Tier 2- 45%, and Tier 3- 20%
By Designation: C-Level- 35%, Director Levels- 25%, and Others- 40%
By Region: Americas- 40%, Asia Pacific- 35%, Europe- 20%, and the Middle East & Africa- 5%

Note: Others include product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

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 are 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).

Research Coverage:
The report defines, describes, and forecasts the global Small modular reactor market, by reactor, deployment, connectivity, location, coolant, application, power rating, 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. These include an 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
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the small modular reactor market and provides them information on key market drivers, restraints, challenges, and opportunities.
•Analysis of key drivers (versatile nature of nuclear energy, Benefits of modularization and factory construction), restraints (Stringent regulatory policies and standards to deploy SMRs, Negative public perception of nuclear power technology), opportunities (Progression into sustainable future with net zero emission and decarbonization of energy sector, Integration of SMRs with renewable energy sources), and challenges (Lack of standard licensing process ) influencing the growth of the small modular reactor market.
•Product Development/ Innovation: The future of the small modular reactor market looks bright. 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.
•Market Development: The versatile nature of nuclear energy could enable the transition to a cleaner world and a stronger global economy. In recent decades, clean energy sources have witnessed rapid innovations and cost reductions. Solar photovoltaic, wind power, hydropower, dispatchable geothermal (both deep and shallow), biomass, and concentrating solar power have experienced rapid technological and economic advances in the last decade. Nuclear energy has the potential to be coupled with several other energy sources in a synergistic fashion, which could result in integrated systems that are more than the sum of their parts.
•Market Diversification: Westinghouse Electric Company LLC offers small modular reactors such as integral pressurized-water reactors and microreactors. The company expects to have its integral pressurized-water reactors ready for deployment in the US by the end of 2022. It intends on building a demonstration unit of its microreactor design by 2022 and deploying it for commercial operation by 2025. It also focuses on investments and expansion as one of its key strategies to increase market presence.
•Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Westinghouse Electric Company LLC (US), NuScale Power, LLC. (US), Terrestrial Energy Inc. (Canada), Moltex Energy (Canada), and.GE Hitachi Nuclear Energy (US), among others in the small modular reactor market

Content
Table of Contents

1INTRODUCTION31
1.1STUDY OBJECTIVES31
1.2MARKET DEFINITION31
1.3RECESSION IMPACT32
1.3.1INCLUSIONS AND EXCLUSIONS32
1.4STUDY SCOPE33
1.4.1MARKETS COVERED33
1.4.2REGIONAL SCOPE33
1.4.3YEARS CONSIDERED34
1.5CURRENCY CONSIDERED34
1.6LIMITATIONS34
1.7STAKEHOLDERS35
1.8SUMMARY OF CHANGES35
2RESEARCH METHODOLOGY36
2.1RESEARCH APPROACH36
FIGURE 1SMALL MODULAR REACTOR MARKET: RESEARCH DESIGN36
2.2MARKET BREAKDOWN AND DATA TRIANGULATION37
FIGURE 2DATA TRIANGULATION37
2.2.1SECONDARY DATA38
2.2.1.1Key data from secondary sources38
2.2.2PRIMARY DATA38
2.2.2.1Key data from primary sources39
FIGURE 3KEY INDUSTRY INSIGHTS39
2.2.2.2Breakdown of primaries39
FIGURE 4BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION40
2.3MARKET SIZE ESTIMATION40
2.3.1BOTTOM-UP APPROACH40
FIGURE 5MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH41
2.3.2TOP-DOWN APPROACH41
FIGURE 6MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH42
2.3.3DEMAND-SIDE ANALYSIS42
FIGURE 7DEMAND-SIDE CALCULATION42
FIGURE 8METRICS CONSIDERED FOR ANALYZING AND ASSESSING DEMAND FOR SMALL MODULAR REACTORS43
2.3.3.1Assumptions for demand-side analysis44
2.3.4FORECAST44
2.4IMPACT OF RECESSION45
3EXECUTIVE SUMMARY46
TABLE 1SMALL MODULAR REACTOR MARKET: SNAPSHOT46
FIGURE 9ASIA PACIFIC DOMINATED SMALL MODULAR REACTOR MARKET IN 202247
FIGURE 10WATER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE FROM 2023 TO 203048
FIGURE 11LIGHT-WATER REACTORS TO CLAIM LARGEST MARKET SHARE FROM 2023 TO 203048
FIGURE 12OFF-GRID SEGMENT TO LEAD MARKET DURING FORECAST PERIOD49
FIGURE 13MULTI-MODULE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD49
FIGURE 14LAND SEGMENT TO ACCOUNT FOR LARGER SHARE DURING FORECAST PERIOD50
FIGURE 15INDUSTRIAL SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD50
FIGURE 16201–300 MW SEGMENT TO SECURE LARGEST MARKET SHARE DURING FORECAST PERIOD51
4PREMIUM INSIGHTS52
4.1ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SMALL MODULAR REACTOR MARKET52
FIGURE 17LOW COST OF SMR DUE TO MODULARIZATION AND FACTORY CONSTRUCTION TO DRIVE MARKET DURING 2023–203052
4.2SMALL MODULAR REACTOR MARKET, BY REGION53
FIGURE 18SMALL MODULAR REACTOR MARKET IN ASIA PACIFIC TO RECORD HIGHEST CAGR DURING FORECAST PERIOD53
4.3SMALL MODULAR REACTOR MARKET, BY COOLANT53
FIGURE 19WATER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE, BY COOLANT, IN 202253
4.4SMALL MODULAR REACTOR MARKET, BY TYPE54
FIGURE 20LIGHT-WATER REACTORS ACCOUNTED FOR LARGEST MARKET SHARE IN 202254
4.5SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY54
FIGURE 21OFF-GRID SEGMENT HELD LARGER MARKET SHARE IN 202254
4.6SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT55
FIGURE 22MULTI-MODULE POWER PLANT SECURED LARGER MARKET SHARE IN 202255
4.7SMALL MODULAR REACTOR MARKET, BY LOCATION55
FIGURE 23LAND SEGMENT DOMINATED MARKET IN 202255
4.8SMALL MODULAR REACTOR MARKET, BY APPLICATION56
FIGURE 24INDUSTRIAL SEGMENT LED MARKET IN 202256
4.9SMALL MODULAR REACTOR MARKET, BY POWER RATING56
FIGURE 25201–300 MW SEGMENT CLAIMED LARGER MARKET SHARE IN 202256
4.10SMALL MODULAR REACTOR MARKET IN ASIA PACIFIC, BY APPLICATION AND COUNTRY57
FIGURE 26LIGHT-WATER REACTORS AND CHINA DOMINATED MARKET IN ASIA PACIFIC IN 202257
 
5MARKET OVERVIEW58
5.1INTRODUCTION58
5.2MARKET DYNAMICS58
FIGURE 27SMALL MODULAR REACTOR MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES58
5.2.1DRIVERS59
5.2.1.1Versatile nature of nuclear power59
FIGURE 28GLOBAL LOW-CARBON ENERGY GENERATION, BY SOURCE, 2011–202159
5.2.1.2Benefits of modularization and factory construction60
5.2.2RESTRAINTS60
5.2.2.1Stringent regulatory policies and standards60
5.2.2.2Negative public perception of nuclear power technology61
5.2.3OPPORTUNITIES61
5.2.3.1Progression into sustainable future with net zero emission and decarbonization of energy sector61
5.2.3.2Integration of SMRs with renewable energy sources62
5.2.4CHALLENGES62
5.2.4.1Lack of standard licensing process62
5.3TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS63
5.3.1REVENUE SHIFT AND NEW REVENUE POCKETS FOR SMALL MODULAR REACTOR MARKET PLAYERS63
FIGURE 29REVENUE SHIFT OF SMALL MODULAR REACTOR PROVIDERS64
5.4PRICING ANALYSIS64
TABLE 2CAPEX OF SMALL MODULAR REACTOR PROJECTS, BY TYPE64
5.5SUPPLY CHAIN ANALYSIS65
FIGURE 30SMALL MODULAR REACTOR MARKET: SUPPLY CHAIN ANALYSIS65
5.5.1COMPONENT MANUFACTURERS65
5.5.2SMALL MODULAR REACTOR MANUFACTURERS65
5.5.3SMALL MODULAR REACTOR SUPPORT SERVICE PROVIDERS/ INTEGRATORS65
5.5.4END USERS65
5.6ECOSYSTEM ANALYSIS66
TABLE 3SMALL MODULAR REACTOR MARKET: ECOSYSTEM66
5.7KEY CONFERENCES AND EVENTS, 2023–202466
TABLE 4SMALL MODULAR REACTOR MARKET: LIST OF CONFERENCES AND EVENTS66
5.8SMALL MODULAR REACTOR MARKET: REGULATIONS67
5.8.1REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS67
TABLE 5NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS67
TABLE 6EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS67
TABLE 7ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS68
TABLE 8GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS68
5.8.2STANDARDS AND REGULATIONS68
TABLE 9SMALL MODULAR REACTOR MARKET: STANDARDS AND REGULATIONS68
5.9PATENT ANALYSIS72
5.10PORTER’S FIVE FORCES ANALYSIS75
FIGURE 31PORTER’S FIVE FORCES ANALYSIS FOR SMALL MODULAR REACTOR MARKET75
TABLE 10SMALL MODULAR REACTOR MARKET: PORTER’S FIVE FORCES ANALYSIS76
5.10.1THREAT OF SUBSTITUTES76
5.10.2BARGAINING POWER OF SUPPLIERS76
5.10.3BARGAINING POWER OF BUYERS76
5.10.4THREAT OF NEW ENTRANTS77
5.10.5INTENSITY OF COMPETITIVE RIVALRY77
5.11TECHNOLOGY ANALYSIS77
5.12TRADE ANALYSIS78
5.12.1EXPORT SCENARIO78
TABLE 11EXPORT SCENARIO FOR HS CODE: 840110, BY COUNTRY, 2018–2022 (USD MILLIONS)78
FIGURE 32EXPORT DATA FOR TOP 5 COUNTRIES, 2018–2022 (USD THOUSANDS)79
5.12.2IMPORT SCENARIO79
TABLE 12IMPORT SCENARIO FOR HS CODE: 840110, BY COUNTRY, 2018–2022 (USD MILLIONS)79
FIGURE 33IMPORT DATA FOR TOP 5 COUNTRIES, 2018–2022 (USD THOUSANDS)80
5.13KEY STAKEHOLDERS AND BUYING CRITERIA80
5.13.1KEY STAKEHOLDERS IN BUYING PROCESS80
FIGURE 34INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR THREE APPLICATIONS80
TABLE 13INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS81
5.13.2BUYING CRITERIA81
FIGURE 35KEY BUYING CRITERIA FOR THREE APPLICATIONS81
TABLE 14KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS81
6SMALL MODULAR REACTOR MARKET, BY TYPE82
6.1INTRODUCTION83
FIGURE 36SMALL MODULAR REACTOR MARKET, BY TYPE83
TABLE 15SMALL MODULAR REACTOR MARKET, BY TYPE, 2019–2021 (USD MILLION)83
TABLE 16SMALL MODULAR REACTOR MARKET, BY TYPE, 2022–2030 (USD MILLION)84
6.2HEAVY-WATER REACTORS84
6.2.1BETTER-MODERATING PROPERTIES COMPARED WITH LIGHT WATER TO DRIVE SEGMENT GROWTH84
TABLE 17HEAVY-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)84
TABLE 18HEAVY-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)85
6.3LIGHT-WATER REACTORS85
6.3.1HIGH DEGREE OF TECHNOLOGICAL READINESS TO DRIVE MARKET85
TABLE 19LIGHT-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)86
TABLE 20LIGHT-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)86
TABLE 21LIGHT-WATER REACTOR MARKET, BY SUBTYPE, 2019–2021 (USD MILLION)86
TABLE 22LIGHT-WATER REACTOR MARKET, BY SUBTYPE, 2022–2030 (USD MILLION)86
6.3.2PRESSURIZED-WATER REACTORS87
TABLE 23PRESSURIZED-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)87
TABLE 24PRESSURIZED-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)87
6.3.3BOILING-WATER REACTORS88
TABLE 25BOILING-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)88
TABLE 26BOILING-WATER REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)88
6.4HIGH-TEMPERATURE REACTORS89
6.4.1USEFUL IN VARIOUS HIGH-TEMPERATURE INDUSTRIAL APPLICATIONS89
TABLE 27HIGH-TEMPERATURE REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)89
TABLE 28HIGH-TEMPERATURE REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)90
6.5FAST-NEUTRON REACTORS90
6.5.1REDUCES NUCLEAR WASTE90
TABLE 29FAST NEUTRON REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)90
TABLE 30FAST NEUTRON REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)91
6.5.2LEAD-COOLED REACTORS91
6.5.3LEAD-BISMUTH REACTORS91
6.5.4SODIUM-COOLED REACTORS92
6.6MOLTEN SALT REACTORS92
6.6.1HIGHER EFFICINCIES AND LOWER WATSE GENERATION TO DRIVE MARKET92
TABLE 31MOLTEN SALT REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)93
TABLE 32MOLTEN SALT REACTORS: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)93
 
7SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY94
7.1INTRODUCTION95
FIGURE 37SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY95
TABLE 33SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2019–2021 (USD MILLION)95
TABLE 34SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2022–2030 (USD MILLION)96
7.2OFF-GRID96
7.2.1REQUIREMENT FOR CLEAN, FLEXIBLE, AND RELIABLE POWER GENERATION TO DRIVE MARKET96
TABLE 35OFF-GRID: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)97
TABLE 36OFF-GRID: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)97
7.3GRID-CONNECTED97
7.3.1INTEGRATION OF RENEWABLES TO STRENGTHEN MARKET97
TABLE 37GRID-CONNECTED: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)98
TABLE 38GRID-CONNECTED: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)98
8SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT99
8.1INTRODUCTION100
FIGURE 38SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT100
TABLE 39SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 2019–2021 (USD MILLION)100
TABLE 40SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 2022–2030 (USD MILLION)101
8.2SINGLE-MODULE POWER PLANT101
8.2.1RELATIVE EASE OF LICENSING TO DRIVE MARKET101
TABLE 41SINGLE-MODULE POWER PLANT: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)102
TABLE 42SINGLE-MODULE POWER PLANT: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)102
8.3MULTI-MODULE POWER PLANT102
8.3.1EASE OF FINANCING ADDITIONAL UNITS TO DRIVE MARKET102
TABLE 43MULTI-MODULE POWER PLANT: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)103
TABLE 44MULTI-MODULE POWER PLANT: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)103
9SMALL MODULAR REACTOR MARKET, BY POWER RATING104
9.1INTRODUCTION105
FIGURE 39SMALL MODULAR REACTOR MARKET SHARE, BY POWER RATING105
TABLE 45SMALL MODULAR REACTOR MARKET SIZE, BY VOLTAGE,
2021–2030 (USD MILLION)106
9.2UP TO 100 MW106
9.2.1HARNESSING SMALL MODULAR REACTORS FOR SUSTAINABLE ELECTRICITY GENERATION TO DRIVE GROWTH106
TABLE 46UP TO 100 MW: SMALL MODULAR REACTOR MARKET SIZE, BY REGION, 2021–2030 (USD MILLION)107
9.3101–200 MW107
9.3.1PROVIDES NECESSARY ENERGY FOR DESALINATION PLANTS107
TABLE 47101–200 MW: SMALL MODULAR REACTOR MARKET, BY REGION, 2021–2030 (USD MILLION)108
9.4201–300 MW108
9.4.1FLEXIBILITY FOR REMOTE AREAS AND COST-EFFECTIVENESS TO DRIVE MARKET108
TABLE 48201-300 MW: SMALL MODULAR REACTOR MARKET, BY REGION, 2021–2030 (USD MILLION)109
10SMALL MODULAR REACTOR MARKET, BY LOCATION110
10.1INTRODUCTION111
FIGURE 40SMALL MODULAR REACTOR MARKET, BY LOCATION,111
TABLE 49SMALL MODULAR REACTOR MARKET, BY LOCATION, 2019–2021 (USD MILLION)111
TABLE 50SMALL MODULAR REACTOR MARKET, BY LOCATION, 2022–2030 (USD MILLION)112
10.2LAND112
10.2.1PROTECTION FROM NATURAL HAZARDS AND DISASTERS112
TABLE 51LAND: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)113
TABLE 52LAND: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)113
10.3MARINE113
10.3.1DEPLOYED IN ISLANDS, REMOTE, AND COASTAL REGIONS113
TABLE 53MARINE: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)114
TABLE 54MARINE: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)114
11SMALL MODULAR REACTOR MARKET, BY APPLICATION115
11.1INTRODUCTION116
FIGURE 41SMALL MODULAR REACTOR MARKET, BY APPLICATION116
TABLE 55SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)116
TABLE 56SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)117
11.2POWER GENERATION117
11.2.1EASE OF SITING AND OPERATING FLEXIBILITY TO DRIVE MARKET117
TABLE 57POWER GENERATION: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)117
TABLE 58POWER GENERATION: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)118
11.3DESALINATION118
11.3.1INCREASING DEMAND FOR POTABLE WATER IN ARID AND SEMI-ARID ZONES TO DRIVE MARKET118
TABLE 59DESALINATION: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)118
TABLE 60DESALINATION: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)119
11.4INDUSTRIAL119
11.4.1LOW EMISSIONS AND HIGH-QUALITY HEAT TO OFFER SEVERAL INDUSTRIAL APPLICATIONS119
TABLE 61INDUSTRIAL: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)119
TABLE 62INDUSTRIAL: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)120
TABLE 63SMALL MODULAR REACTOR MARKET, BY INDUSTRIAL, 2019–2021 (USD MILLION)120
TABLE 64SMALL MODULAR REACTOR MARKET, BY INDUSTRIAL, 2022–2030 (USD MILLION)120
11.4.2PROCESS HEAT120
TABLE 65PROCESS HEAT: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)121
TABLE 66PROCESS HEAT: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)121
11.4.3OTHER121
11.4.3.1Captive electricity generation121
11.4.3.2District heating121
TABLE 67OTHERS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)122
TABLE 68OTHERS: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)122
11.5HYDROGEN PRODUCTION122
11.5.1ABILITY TO MAXIMIZE LOAD FACTORS INCREASE POWER PLANT EFFICIENCY TO DRIVE MARKET122
TABLE 69HYDROGEN PRODUCTION: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)123
TABLE 70HYDROGEN PRODUCTION: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)124
12SMALL MODULAR REACTOR MARKET, BY COOLANT125
12.1INTRODUCTION126
FIGURE 42SMALL MODULAR REACTOR MARKET, BY COOLANT126
TABLE 71SMALL MODULAR REACTOR MARKET, BY COOLANT, 2019–2021 (USD MILLION)126
TABLE 72SMALL MODULAR REACTOR MARKET, BY COOLANT, 2022–2030 (USD MILLION)127
12.2HEAVY LIQUID METALS127
12.2.1THERMODYNAMIC PROPERTIES OF HEAVY LIQUID METALS TO SUPPORT MARKET127
TABLE 73HEAVY LIQUID METALS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)127
TABLE 74HEAVY LIQUID METALS: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)128
12.3WATER128
12.3.1ADVANCEMENTS IN REACTORS FOR PROPER HANDLING OF WATER COOLANTS TO DRIVE MARKET128
TABLE 75WATER: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)128
TABLE 76WATER: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)129
12.4MOLTEN SALTS129
12.4.1OPERATIONAL ADVANTAGES TO DRIVE MARKET129
TABLE 77MOLTEN SALTS: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)129
TABLE 78MOLTEN SALTS: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)130
12.5GASES130
12.5.1CONTROLS OCCURRENCE OF CORROSION130
TABLE 79GASES: SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)130
TABLE 80GASES: SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)131
13SMALL MODULAR REACTOR MARKET, BY REGION132
13.1INTRODUCTION133
FIGURE 43SMALL MODULAR REACTOR MARKET IN ASIA PACIFIC TO REGISTER HIGHEST CAGR FROM 2023 TO 2030133
FIGURE 44SMALL MODULAR REACTOR MARKET SHARE, BY REGION, 2022134
TABLE 81SMALL MODULAR REACTOR MARKET, BY REGION, 2019–2021 (USD MILLION)134
TABLE 82SMALL MODULAR REACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)134
13.2ASIA PACIFIC135
13.2.1RECESSION IMPACT ON ASIA PACIFIC MARKET135
FIGURE 45ASIA PACIFIC: SNAPSHOT OF SMALL MODULAR REACTOR MARKET IN 2022136
TABLE 83ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY POWER RATING, 2022–2030 (USD MILLION)136
TABLE 84ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY COOLANT, 2019–2021 (USD MILLION)137
TABLE 85ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY COOLANT, 2022–2030 (USD MILLION)137
TABLE 86ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY TYPE, 2019–2021 (USD MILLION)137
TABLE 87ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY TYPE, 2022–2030 (USD MILLION)138
TABLE 88ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2019–2021 (USD MILLION)138
TABLE 89ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2022–2030 (USD MILLION)138
TABLE 90ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 2019–2021 (USD MILLION)138
TABLE 91ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 2022–2030 (USD MILLION)139
TABLE 92ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY LOCATION, 2019–2021 (USD MILLION)139
TABLE 93ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY LOCATION, 2022–2030 (USD MILLION)139
TABLE 94ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)139
TABLE 95ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)140
TABLE 96ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY COUNTRY, 2019–2021 (USD MILLION)140
TABLE 97ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY COUNTRY, 2022–2030 (USD MILLION)140
13.2.2CHINA141
13.2.2.1Rise in deployment of SMRs in coastal, island, and offshore areas141
TABLE 98CHINA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)141
TABLE 99CHINA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)142
13.2.3JAPAN142
13.2.3.1Integration of renewable energy sources with SMR to provide lucrative growth opportunities142
TABLE 100JAPAN: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)143
TABLE 101JAPAN: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)143
13.2.4INDIA143
13.2.4.1Retiring fossil fuel-fired power plants to drive demand for reactors143
TABLE 102INDIA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)144
TABLE 103INDIA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)144
13.2.5SOUTH KOREA145
13.2.5.1Developments in marine small modular reactors for floating power plants to provide lucrative opportunities145
TABLE 104SOUTH KOREA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)145
TABLE 105SOUTH KOREA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)146
13.2.6REST OF ASIA PACIFIC146
TABLE 106REST OF ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)146
TABLE 107REST OF ASIA PACIFIC: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)147
13.3EUROPE147
13.3.1RECESSION IMPACT ON EUROPE MARKET147
FIGURE 46EUROPE: SMALL MODULAR REACTOR MARKET SNAPSHOT148
TABLE 108EUROPE: SMALL MODULAR REACTOR MARKET, BY POWER RATING, 2022–2030 (USD MILLION)148
TABLE 109EUROPE: SMALL MODULAR REACTOR MARKET, BY COOLANT, 2019–2021 (USD MILLION)149
TABLE 110EUROPE: SMALL MODULAR REACTOR MARKET, BY COOLANT, 2022–2030 (USD MILLION)149
TABLE 111EUROPE: SMALL MODULAR REACTOR MARKET, BY TYPE, 2019–2021 (USD MILLION)149
TABLE 112EUROPE: SMALL MODULAR REACTOR MARKET, BY TYPE, 2022–2030 (USD MILLION)150
TABLE 113EUROPE: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2019–2021 (USD MILLION)150
TABLE 114EUROPE: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2022–2030 (USD MILLION)150
TABLE 115EUROPE: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 2019–2021 (USD MILLION)150
TABLE 116EUROPE: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 2022–2030 (USD MILLION)151
TABLE 117EUROPE: SMALL MODULAR REACTOR MARKET, BY LOCATION, 2019–2021 (USD MILLION)151
TABLE 118EUROPE: SMALL MODULAR REACTOR MARKET, BY LOCATION, 2022–2030 (USD MILLION)151
TABLE 119EUROPE: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)151
TABLE 120EUROPE: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)152
TABLE 121EUROPE: SMALL MODULAR REACTOR MARKET, BY COUNTRY, 2019–2021 (USD MILLION)152
TABLE 122EUROPE: SMALL MODULAR REACTOR MARKET, BY COUNTRY, 2022–2030 (USD MILLION)152
13.3.1.1Russia153
13.3.1.1.1Deployment of SMRs for power generation in remote areas of Russian Far East to drive market153
TABLE 123RUSSIA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)153
TABLE 124RUSSIA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)154
13.3.1.2UK154
13.3.1.2.1Increasing government initiatives and investments to fuel market growth154
TABLE 125UK: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)155
TABLE 126UK: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)155
13.3.1.3France155
13.3.1.3.1Focus on achieving decarbonization target to drive market155
TABLE 127FRANCE: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)156
TABLE 128FRANCE: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)156
13.3.2REST OF EUROPE156
TABLE 129REST OF EUROPE: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)157
TABLE 130REST OF EUROPE: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)157
13.4AMERICAS158
13.4.1RECESSION IMPACT ON AMERICAS MARKET158
TABLE 131AMERICAS: SMALL MODULAR REACTOR MARKET, BY POWER RATING, 2022–2030 (USD MILLION)159
TABLE 132AMERICAS: SMALL MODULAR REACTOR MARKET, BY COOLANT, 2019–2021 (USD MILLION)159
TABLE 133AMERICAS: SMALL MODULAR REACTOR MARKET, BY COOLANT, 2022–2030 (USD MILLION)159
TABLE 134AMERICAS: SMALL MODULAR REACTOR MARKET, BY TYPE, 2019–2021 (USD MILLION)160
TABLE 135AMERICAS: SMALL MODULAR REACTOR MARKET, BY TYPE, 2022–2030 (USD MILLION)160
TABLE 136AMERICAS: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2019–2021 (USD MILLION)160
TABLE 137AMERICAS: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2022–2030 (USD MILLION)161
TABLE 138AMERICAS: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 2019–2021 (USD MILLION)161
TABLE 139AMERICAS: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 2022–2030 (USD MILLION)161
TABLE 140AMERICAS: SMALL MODULAR REACTOR MARKET, BY LOCATION, 2019–2021 (USD MILLION)161
TABLE 141AMERICAS: SMALL MODULAR REACTOR MARKET, BY LOCATION, 2022–2030 (USD MILLION)162
TABLE 142AMERICAS: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)162
TABLE 143AMERICAS: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)162
TABLE 144AMERICAS: SMALL MODULAR REACTOR MARKET, BY COUNTRY, 2019–2021 (USD MILLION)163
TABLE 145AMERICAS: SMALL MODULAR REACTOR MARKET, BY COUNTRY, 2022–2030 (USD MILLION)163
13.4.2US163
13.4.2.1Rising investments coupled with government initiatives to drive market163
TABLE 146US: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)164
TABLE 147US: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)164
13.4.3CANADA165
13.4.3.1Small-scale grids and demand from remote locations to provide lucrative growth opportunities165
TABLE 148CANADA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)166
TABLE 149CANADA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)166
13.4.4ARGENTINA166
13.4.4.1Rising demand for power generation and desalination applications to boost market166
TABLE 150ARGENTINA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)167
TABLE 151ARGENTINA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)167
13.5MIDDLE EAST & AFRICA167
13.5.1RECESSION IMPACT ON MIDDLE EAST & AFRICA MARKET168
TABLE 152MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY POWER RATING, 2022–2030 (USD MILLION)168
TABLE 153MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY COOLANT, 2019–2021 (USD MILLION)169
TABLE 154MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY COOLANT, 2022–2030 (USD MILLION)169
TABLE 155MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY TYPE, 2019–2021 (USD MILLION)169
TABLE 156MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY TYPE, 2022–2030 (USD MILLION)170
TABLE 157MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2019–2021 (USD MILLION)170
TABLE 158MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY CONNECTIVITY, 2022–2030 (USD MILLION)170
TABLE 159MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 2019–2021 (USD MILLION)170
TABLE 160MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY DEPLOYMENT, 2022–2030 (USD MILLION)171
TABLE 161MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY LOCATION, 2019–2021 (USD MILLION)171
TABLE 162MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY LOCATION, 2022–2030 (USD MILLION)171
TABLE 163MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)171
TABLE 164MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)172
TABLE 165MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY COUNTRY, 2019–2021 (USD MILLION)172
TABLE 166MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY COUNTRY, 2022–2030 (USD MILLION)172
13.5.1.1Saudi Arabia173
13.5.1.1.1Need to reduce dependence on fossil fuels for power generation and desalination to drive market173
TABLE 167SAUDI ARABIA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)174
TABLE 168SAUDI ARABIA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)174
13.5.1.2South Africa175
13.5.1.2.1Interest in Generation II and III technologies to boost demand for small modular reactors175
TABLE 169SOUTH AFRICA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)175
TABLE 170SOUTH AFRICA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)175
13.5.2REST OF MIDDLE EAST & AFRICA176
TABLE 171REST OF MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2019–2021 (USD MILLION)176
TABLE 172REST OF MIDDLE EAST & AFRICA: SMALL MODULAR REACTOR MARKET, BY APPLICATION, 2022–2030 (USD MILLION)176
14COMPETITIVE LANDSCAPE177
14.1OVERVIEW177
FIGURE 47KEY DEVELOPMENTS IN SMALL MODULAR REACTOR MARKET, 2019 TO 2023178
14.2MARKET EVALUATION FRAMEWORK179
TABLE 173MARKET EVALUATION FRAMEWORK, 2019–2023179
14.3RECENT DEVELOPMENTS180
14.3.1DEALS180
14.3.1.1Small modular reactor market: Deals, 2019–2023180
14.3.2OTHERS190
14.3.2.1Small modular reactor market: Others, 2019–2023190
14.4COMPANY EVALUATION MATRIX191
14.4.1STARS191
14.4.2EMERGING LEADERS191
14.4.3PERVASIVE PLAYERS191
14.4.4PARTICIPANTS192
FIGURE 48SMALL MODULAR REACTOR MARKET: COMPANY EVALUATION MATRIX, 2022192
TABLE 174COMPANY TYPE FOOTPRINT: SMALL MODULAR REACTOR, 2019–2023193
TABLE 175COMPANY APPLICATION FOOTPRINT: SMALL MODULAR REACTOR, 2019–2023194
TABLE 176COMPANY REGION FOOTPRINT: SMALL MODULAR REACTOR, 2019-2023195
 
15COMPANY PROFILES197
15.1KEY PLAYERS197
(Business Overview, Products/Solutions/Services offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
15.1.1WESTINGHOUSE ELECTRIC COMPANY LLC197
TABLE 177WESTINGHOUSE ELECTRIC COMPANY LLC: BUSINESS OVERVIEW197
TABLE 178WESTINGHOUSE ELECTRIC COMPANY LLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED198
TABLE 179WESTINGHOUSE ELECTRIC COMPANY LLC: DEALS 199
TABLE 180WESTINGHOUSE ELECTRIC COMPANY LLC: OTHERS201
15.1.2NUSCALE POWER, LLC.203
TABLE 181NUSCALE POWER, LLC.: BUSINESS OVERVIEW203
TABLE 182NUSCALE POWER, LLC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED203
TABLE 183NUSCALE POWER, LLC.: DEALS204
TABLE 184NUSCALE POWER, LLC.: OTHERS208
15.1.3TERRESTRIAL ENERGY INC.210
TABLE 185TERRESTRIAL ENERGY INC.: BUSINESS OVERVIEW210
TABLE 186TERRESTRIAL ENERGY INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED210
TABLE 187TERRESTRIAL ENERGY INC.: DEALS211
TABLE 188TERRESTRIAL ENERGY INC.: OTHERS213
15.1.4MOLTEX ENERGY214
TABLE 189MOLTEX ENERGY: BUSINESS OVERVIEW214
TABLE 190MOLTEX ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED214
TABLE 191MOLTEX ENERGY: DEALS215
15.1.5GE HITACHI NUCLEAR ENERGY219
TABLE 192GE HITACHI NUCLEAR ENERGY: BUSINESS OVERVIEW219
TABLE 193GE HITACHI NUCLEAR ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED219
TABLE 194GE HITACHI NUCLEAR ENERGY: DEALS220
TABLE 195GE HITACHI NUCLEAR ENERGY: OTHERS221
15.1.6X-ENERGY, LLC.223
TABLE 196X-ENERGY, LLC.: BUSINESS OVERVIEW223
TABLE 197X-ENERGY, LLC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED223
TABLE 198X-ENERGY, LLC.: DEALS224
15.1.7HOLTEC INTERNATIONAL226
TABLE 199HOLTEC INTERNATIONAL: BUSINESS OVERVIEW226
TABLE 200HOLTEC INTERNATIONAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED226
TABLE 201HOLTEC INTERNATIONAL: DEALS227
15.1.8GENERAL ATOMICS229
TABLE 202GENERAL ATOMICS: BUSINESS OVERVIEW229
TABLE 203GENERAL ATOMICS: PRODUCTS/SOLUTIONS/SERVICES OFFERED229
TABLE 204GENERAL ATOMICS: DEALS230
15.1.9ARC CLEAN ENERGY, INC.232
TABLE 205ARC CLEAN ENERGY, INC.: BUSINESS OVERVIEW232
TABLE 206ARC CLEAN ENERGY, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED232
TABLE 207ARC CLEAN ENERGY, INC.: DEALS233
TABLE 208ARC CLEAN ENERGY, INC.: OTHERS235
15.1.10LEADCOLD REACTORS236
TABLE 209LEADCOLD REACTORS: BUSINESS OVERVIEW236
TABLE 210LEADCOLD REACTORS: PRODUCTS/SOLUTIONS/SERVICES OFFERED236
TABLE 211LEADCOLD REACTORS: DEALS237
15.1.11ROLLS-ROYCE PLC238
TABLE 212ROLLS-ROYCE PLC: BUSINESS OVERVIEW238
FIGURE 49ROLLS-ROYCE PLC: COMPANY SNAPSHOT239
TABLE 213ROLLS-ROYCE PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED240
TABLE 214ROLLS-ROYCE PLC: DEALS240
15.1.12ULTRA SAFE NUCLEAR242
TABLE 215ULTRA SAFE NUCLEAR: BUSINESS OVERVIEW242
TABLE 216ULTRA SAFE NUCLEAR: PRODUCTS/SOLUTIONS/SERVICES OFFERED242
TABLE 217ULTRA SAFE NUCLEAR: DEALS243
TABLE 218ULTRA SAFE NUCLEAR: OTHERS245
15.1.13TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION246
TABLE 219TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: BUSINESS OVERVIEW246
TABLE 220TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED246
15.1.14TOKAMAK ENERGY LTD.248
TABLE 221TOKAMAK ENERGY LTD.: BUSINESS OVERVIEW248
TABLE 222TOKAMAK ENERGY LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED248
TABLE 223TOKAMAK ENERGY LTD.: DEALS249
15.1.15SNC-LAVALIN GROUP251
TABLE 224SNC-LAVALIN GROUP: BUSINESS OVERVIEW251
FIGURE 50SNC-LAVALIN GROUP: COMPANY SNAPSHOT252
TABLE 225SNC-LAVALIN GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED252
TABLE 226SNC-LAVALIN G