Small Modular Reactor Market by Reactor Type [Heavy Water Reactor (HWR), Light Water Reactor (LWR), Fast Neutron Reactor (FNR), and Others], and Application (Desalination, Power Generation, and Process Heat): Global Opportunity Analysis and Industry Forecast, 2021-2030

Small Modular Reactor Market Overview 2030

The global small modular reactor market was valued at $3.5 Billion in 2020, and is projected to reach $18.8 Billion by 2030, growing at a CAGR of 15.8%. Small modular reactors (SMRs) are defined as nuclear reactors having a power output of less than 300MWe. A major advantage of SMRs are its small size and shorter construction times compared to traditional bulk nuclear reactors. As a SMR is fully built in a factory using module fabrication, high production rate can be achieved. SMRs are still in the design phase. In fact, only three SMRs are currently in the advanced regulatory phase: NuScale’s Power Module, GE-Hitachi’s BWRX 300, and Terrestrial Energy’s Integral Molten Salt Reactor. SMRs can be made to operate underground or as a floating nuclear power unit. Modular reactors are primarily used for electricity generation; however, it is also used in seawater desalination and process heating. SMR designs promises an affordable, safe, viable, and non-greenhouse gas emitting energy.

The ongoing COVID-19 has put more focus on nuclear energy technology such as Small Modular Reactor Market, thus increasing the pace of market developments.

Growing global demand for electricity, flexibility of SMRs with respect to size and power output are some of the drivers responsible for global small modular reactor market growth. The older generation of nuclear power plants are large in size and require huge amount of capital and construction time. Locations far away from large power grid systems find it difficult to install nuclear reactors. Hence, setting a nuclear reactor is not feasible in remote locations, thus paving for development of smaller nuclear reactors. With increased emphasis on achieving political and technological solutions to climate change, many experts in the global community are turning their focus to the virtually emissions-free power produced by nuclear reactors. Therefore, continuous development of small modular reactors (SMRs) offers a potential opportunity to overcome many of the hindrances presented by larger nuclear power plants, including high costs, complex supply chains, large physical infrastructure, and unsuitability in harsh environments.

On the contrary, more focus is directed towards renewable sources such as wind and solar power. There has been a massive increase in installation of small and large scale solar power plants in countries such as India and China. China, being a major nuclear power is also increasing the use of wind and solar power. A major reason for this preference is the amount of power obtained by solar and wind over nuclear energy. Another reason is safety offered by solar and wind as compared to nuclear energy. In addition, negative sentiments related to nuclear power plants will greatly hinder the small modular reactor market during the forecast period. Countries such as Germany are taking less interest in nuclear power and more focus is put on wind and solar electricity. However, due to the comparatively low cost and time required for building, the global small modular market is to get less affected by these restraints. Moreover, as compared to a wind farm or solar farm, SMR-based power plants will take up very little land, i.e. low footprint.

Global efforts at energy decarbonization is a major opportunity that could offer lucrative opportunities for the global small modular reactor market during the forecast period. The world is shifting from a fossil fuel-based generation system to a more net-zero emission energy system, of which nuclear energy plays a major part. The transition will help in mitigating climate change and protecting the environment. Across the globe, there is a mounting demand for clean and reliable energy generation that has fueled interest in the SMR technology. Furthermore, expanding the role of nuclear energy in electricity production through a combination of advanced reactors and thermal energy storage will help in more emission control. All such factors are expected to offer fresh opportunities for the global market during the forecast period.

The global small modular reactor market is segmented into reactor type, location, application, and region. On the basis of reactor type, the market is segmented into heavy water reactor (HWR), light water reactor (LWR), fast neutron reactor (FNR), and Others. By application, it includes desalination, power generation and process heat. On the basis of region, the global small modular reactor market is segmented into North America, Europe, Asia-Pacific, and LAMEA.

Key players engaged in the small modular reactor market include Brookfield, Fluor Corporation, General Atomics, General Electric, Holtec International, Mitsubishi Heavy Industries, Rolls Royce Plc, TerraPower LLC, Terrestrial Energy, and X Energy LLC. Agreement was the key strategy adopted by players such as Rolls Royce and General Electric.

Small Modular Reactor market, by region

U.S. accounted for the largest share of the small modular reactor market size in 2020 as well is the fastest growing region, owing to presence of well-established SMR manufacturers such as NuScale Power and General Electric.

Small Modular Reactor market, by Application

On the basis of the application, the power generation segment accounted for the largest small modular reactor market share in 2020, and is projected to grow at the highest CAGR of 16.3% during the small modular reactor market forecast

Key benefits for stakeholders

• Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the small modular reactor industry for strategy building.
• It outlines the current small modular reactor market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
• The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
• Small Modular reactor market analysis is done by studying the various drivers, restraints, and small modular reactor market opportunities 
• The profiles of key players and their key strategic developments are enlisted in the report.

Small Modular Reactor Market

Small Modular Reactor Market  Reactor Type

• Heavy Water Reactor (HWR)
• Light Water Reactor (LWR)
• High Temperature Gas Reactor (HTR)
• Fast Neutron Reactor (FNR)
• Molten Salt Reactor (MSR)

Small Modular Reactor Market by Application

• Desalination
• Power Generation
• Process Heat

Small Modular Reactor Market by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• UK
• Russia
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Rest of Asia-Pacific
• LAMEA
• Brazil
• Argentina
• GCC
• Rest of LAMEA

Scope of the Small Modular Reactor Market Report

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings of the study
2.2.CXO perspective

CHAPTER 3:MARKET LANDSCAPE

3.1.Market Definition and scope
3.2.Key findings

3.2.1.Top investment pockets
3.2.2.Porter's five forces analysis

3.3.Market dynamics

3.3.1.Drivers

3.3.1.1.Demand for power generation in remote locations
3.3.1.2.Flexibility of SMRs over conventional power generation
3.3.1.3.Ease of construction due to factory fabrication

3.3.2.Restraint

3.3.2.1.Most investments are being directed toward renewable energy

3.3.3.Opportunity

3.3.3.1.Decarbonization of energy sector

3.4.Value chain analysis
3.1.Impact of COVID-19 on the Global Small Modular Reactor Market
3.2.Patent analysis, 2012-2019

CHAPTER 4:SMALL MODULAR REACTOR MARKET, BY REACTOR TYPE

4.1.Overview

4.1.1.Market size and forecast

4.2.Heavy Water Reactor

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region

4.3.Light Water Reactor

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region

4.4.Fast Neutron Reactor

4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by region

4.5.Others

4.5.1.Key market trends, growth factors, and opportunities
4.5.2.Market size and forecast, by region

CHAPTER 5:SMALL MODULAR REACTOR MARKET, BY APPLICATION

5.1.Overview

5.1.1.Market size and forecast

5.2.Desalination

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region

5.3.Power Generation

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region

5.4.Process Heat

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region

CHAPTER 6:SMALL MODULAR REACTOR MARKET, BY REGION

6.1.Overview

6.1.1.Market size and forecast

6.3.North America

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by Product type
6.3.3.Market size and forecast, by Application
6.3.4.Market share analysis, by country

6.3.5.U.S.

6.3.5.1.Market size and forecast, by reactor type
6.3.5.2.Market size and forecast, by application

6.3.6.Canada

6.3.6.1.Market size and forecast, by reactor type
6.3.6.2.Market size and forecast, by application

6.4.Europe

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by Product type
6.4.3.Market size and forecast, by Application
6.4.4.Market share analysis, by country

6.4.5.Germany

6.4.5.1.Market size and forecast, by reactor type
6.4.5.2.Market size and forecast, by application

6.4.6.France

6.4.6.1.Market size and forecast, by reactor type
6.4.6.2.Market size and forecast, by application

6.4.7.UK

6.4.7.1.Market size and forecast, by reactor type
6.4.7.2.Market size and forecast, by application

6.4.8.Russia

6.4.8.1.Market size and forecast, by reactor type
6.4.8.2.Market size and forecast, by application

6.4.9.Rest of Europe

6.4.9.1.Market size and forecast, by reactor type
6.4.9.2.Market size and forecast, by application

6.5.Asia-Pacific

6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by Product type
6.5.3.Market size and forecast, by Application
6.5.4.Market share analysis, by country

6.5.5.China

6.5.5.1.Market size and forecast, by reactor type
6.5.5.2.Market size and forecast, by application

6.5.6.Japan

6.5.6.1.Market size and forecast, by reactor type
6.5.6.2.Market size and forecast, by application

6.5.7.India

6.5.7.1.Market size and forecast, by reactor type
6.5.7.2.Market size and forecast, by application

6.5.8.South Korea

6.5.8.1.Market size and forecast, by reactor type
6.5.8.2.Market size and forecast, by application

6.5.9.Rest of Asia-Pacific

6.5.9.1.Market size and forecast, by reactor type
6.5.9.2.Market size and forecast, by application

6.6.LAMEA

6.6.1.Key market trends, growth factors, and opportunities
6.6.2.Market size and forecast, by Product type
6.6.3.Market size and forecast, by Application
6.6.4.Market share analysis, by country

6.6.5.Brazil

6.6.5.1.Market size and forecast, by reactor type
6.6.5.2.Market size and forecast, by application

6.6.6.Argentina

6.6.6.1.Market size and forecast, by reactor type
6.6.6.2.Market size and forecast, by application

6.6.7.GCC

6.6.7.1.Market size and forecast, by reactor type
6.6.7.2.Market size and forecast, by application

6.6.8.Rest Of LAMEA

6.6.8.1.Market size and forecast, by reactor type
6.6.8.2.Market size and forecast, by application

CHAPTER 7:COMPETITIVE LANDSCAPE

7.1.INTRODUCTION

7.1.1.MARKET PLAYER POSITIONING, 2020

7.2.COMPETITIVE HEATMAP
7.3.KEY DEVELOPMENTS

7.3.1.Agreement
7.3.2.Acquisition
7.3.3.Product Launch

CHAPTER 8:COMPANY PROFILES:

8.1.BROOKFIELD ASSET MANAGEMENT INC.

8.1.1.Company overview
8.1.2.Company snapshot
8.1.3.Operating business segments
8.1.4.Product portfolio
8.1.5.Business performance
8.1.6.Key strategic moves and developments

8.2.FLUOR CORPORATION

8.2.1.Company overview
8.2.2.Company snapshot
8.2.3.Operating business segments
8.2.4.Product portfolio
8.2.5.Business performance

8.3.GENERAL ATOMICS

8.3.1.Company overview
8.3.2.Company snapshot
8.3.3.Product portfolio

8.4.GENERAL ELECTRIC COMPANY

8.4.1.Company overview
8.4.2.Company snapshot
8.4.3.Operating business segments
8.4.4.Product portfolio
8.4.5.Business performance
8.4.6.Key strategic moves and developments

8.5.HOLTEC INTERNATIONAL

8.5.1.Company overview
8.5.2.Company snapshot
8.5.3.Product portfolio

8.6.MITSUBISHI HEAVY INDUSTRIES LTD.

8.6.1.Company overview
8.6.2.Company snapshot
8.6.3.Operating business segments
8.6.4.Product portfolio
8.6.5.Business performance

8.7.ROLLS-ROYCE PLC

8.7.1.Company overview
8.7.2.Company snapshot
8.7.3.Operating business segments
8.7.4.Product portfolio
8.7.5.Business performance
8.7.6.Key strategic moves and developments

8.8.TERRAPOWER LLC

8.8.1.Company overview
8.8.2.Company snapshot
8.8.3.Product portfolio
8.8.4.Key strategic moves and developments

8.9.TERRESTRIAL ENERGY INC.

8.9.1.Company overview
8.9.2.Company snapshot
8.9.3.Product portfolio
8.9.4.Key strategic moves and developments

8.10.X ENERGY LLC

8.10.1.Company overview
8.10.2.Company snapshot
8.10.3.Product portfolio

Table 01.Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 02.Heavy Water Modular Reactor Market, By Region, 2020–2030 ($Million)

Table 03.Light Water Reactor Market, By Region, 2020–2030 ($Million)

Table 04.Fast Neutron Reactor Market, By Region, 2020–2030 ($Million)

Table 05.Other Small Modular Reactor Market, By Region, 2020–2030 ($Million)

Table 06.Small Modular Reactor Market, By Application, 2020–2030 ($Million)

Table 07.Small Modular Reactor Market For Desalination, By Region, 2020–2030 ($Million)

Table 08.Small Modular Reactor Market For Power Generation, By Region, 2020–2030 ($Million)

Table 09.Small Modular Reactor Market For Process Heat, By Region, 2020–2030 ($Million)

Table 10.Small Modular Reactor Market, By Region, 2020–2030 ($Million)

Table 11.North America Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 12.North America Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 13.North America Small Modular Reactor Market, By Country, 2020-2030 ($Million)

Table 14.U.S. Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 15.U.S. Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 16.Canada Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 17.Canada Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 18.Europe Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 19.Europe Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 20.Europe Small Modular Reactor Market, By Country, 2020-2030 ($Million)

Table 21.Germany Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 22.Germany Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 23.France Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 24.France Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 25.Uk Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 26.Uk Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 27.Russia Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 28.Russia Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 29.Rest Of Europe Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 30.Rest Of Europe Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 31.Asia-Pacific Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 32.Asia-Pacific Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 33.Asia-Pacific Small Modular Reactor Market, By Country, 2020-2030 ($Million)

Table 34.China Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 35.China Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 36.Japan Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 37.Japan Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 38.India Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 39.India Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 40.South Korea Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 41.South Korea Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 42.Rest Of Asia-Pacific Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 43.Rest Of Asia-Pacific Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 44.Lamea Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 45.Lamea Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 46.Lamea Small Modular Reactor Market, By Country, 2020-2030 ($Million)

Table 47.Brazil Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 48.Brazil Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 49.Argentina Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 50.Argentina Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 51.Gcc Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 52.Gcc  Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 53.Rest Of Lamea Small Modular Reactor Market, By Reactor Type, 2020–2030 ($Million)

Table 54.Rest Of Lamea Small Modular Reactor Market, By Application, 2020-2030($Million)

Table 55.Agreement (2018-2021)

Table 56.Acquisition (2018-2021)

Table 57.Product Launch (2018-2021)

Table 58.Brookfield: Company Snapshot

Table 59.Brookfield: Operating Segments

Table 60.Brookfield: Product Portfolio

Table 61.Brookfield: Overall Financial Status ($Million)

Table 62.Brookfield: Key Strategic Moves And Developments

Table 63.Fluor: Company Snapshot

Table 64.Fluor: Operating Segments

Table 65.Fluor: Product Portfolio

Table 66.Fluor: Overall Financial Status ($Million), 2018-2020

Table 67.Ga: Company Snapshot

Table 68.Ga: Product Portfolio

Table 69.Ge: Company Snapshot

Table 70.Ge: Operating Segments

Table 71.Ge: Product Portfolio

Table 72.Ge: Overall Financial Status ($Million)

Table 73.Ge:Key Strategic Moves And Developments

Table 74.Holtec: Company Snapshot

Table 75.Holtec: Product Portfolio

Table 76.Mhi: Company Snapshot

Table 77.Mhi: Operating Segments

Table 78.Mhi: Product Portfolio

Table 79.Mhi: Overall Financial Status ($Million), 2018-2020

Table 80.Rolls-Royce: Company Snapshot

Table 81.Rolls-Royce: Operating Segments

Table 82.Rolls-Royce: Product Portfolio

Table 83.Rolls-Royce: Overall Financial Status ($Million), 2018-2020

Table 84.Rolls-Royce:Key Strategic Moves And Developments

Table 85.Terrapower: Company Snapshot

Table 86.Terrapower: Product Portfolio

Table 87.Terrapower: Key Strategic Moves And Developments

Table 88.Terrestrial Energy: Company Snapshot

Table 89.Terrestrial Energy: Product Portfolio

Table 90.Terrestrial Energy: Key Strategic Moves And Developments

Table 91.X Energy: Company Snapshot

Table 92.X Energy: Product Portfolio

List Of Figures

Figure 01.Key Market Segments

Figure 02.Executive Summary, By Segment

Figure 03.Executive Summary, By Country

Figure 04.Top Investment Pockets

Figure 05.Bargaining Power Of Suppliers

Figure 06.Threat Of New Entrants

Figure 07.Threat Of Substitutes

Figure 08.Intensity Of Rivalry

Figure 09.Bargaining Power Of Buyers

Figure 10.Small Modular Reactor Market Dynamics

Figure 11.Value Chain Analysis

Figure 12.Patent Analysis, By Country, 2012-2020

Figure 13.Patent Analysis, By Applicant, 2012-2020

Figure 14.Small Modular Reactor Market, By Reactor Type, 2020–2030($Million)

Figure 15.Comparative Share Analysis Of Heavy Water Modular Reactor Market, By Country, 2020 & 2030 ($Million)

Figure 16.Comparative Share Analysis Of Light Water Reactor Market, By Country, 2020 & 2030 ($Million)

Figure 17.Comparative Share Analysis Of Fast Neutron Reactor Market, By Country, 2020 & 2030 ($Million)

Figure 18.Comparative Share Analysis Of Other Small Modular Reactor Market, By Country, 2020 & 2030 ($Million)

Figure 19.Small Modular Reactor Market, By Application, 2020–2030($Million)

Figure 20.Comparative Share Analysis Of Small Modular Reactor Market For Desalination, By Country, 2020 & 2030 ($Million)

Figure 21.Comparative Share Analysis Of Small Modular Reactor Market For Power Generation, By Country, 2020 & 2030 ($Million)

Figure 22.Comparative Share Analysis Of Small Modular Reactor Market For Process Heat, By Country, 2020 & 2030 ($Million)

Figure 23.U.S. Small Modular Reactor Market Revenue, 2020–2030($Million)

Figure 24.Canada Small Modular Reactor Market Revenue, 2020–2030($Million)

Figure 25.Germany Small Modular Reactor Market Revenue, 2020–2030($Million)

Figure 26.France Small Modular Reactor Market Revenue, 2020–2030($Million)

Figure 27.Uk Small Modular Reactor Market Revenue, 2020–2030($Million)

Figure 28.Russia Small Modular Reactor Market Revenue, 2020–2030($Million)

Figure 29.Rest Of Europe Small Modular Reactor Market Revenue, 2020–2030($Million)

Figure 30.China Small Modular Reactor Market Revenue, 2020–2030($Million)

Figure 31.Japan Small Modular Reactor Market Revenue, 2020–2030($Million)

Figure 32.India Small Modular Reactor Market Revenue, 2020–2030($Million)

Figure 33.South Korea Small Modular Reactor Market Revenue, 2020–2030($Million)

Figure 34.Rest Of Asia-Pacific Small Modular Reactor Market Revenue, 2020–2030($Million)

Figure 35.Brazil Small Modular Reactor Market Revenue, 2020–2030($Million)

Figure 36.Argentina Small Modular Reactor Market Revenue, 2020–2030($Million)

Figure 37.Gcc Small Modular Reactor Market Revenue, 2020–2030($Million)

Figure 38.Rest Of Lamea Small Modular Reactor Market Revenue, 2020–2030($Million)

Figure 39.Market Player Positioning, 2020

Figure 40.Competitive Heatmap Of Key Players

Figure 41.Brookfield: Revenue, 2018–2020 ($Million)

Figure 42.Brookfield: Revenue Share By Segment, 2020 (%)

Figure 43.Brookfield: Revenue Share By Region, 2020 (%)

Figure 44.Fluor: Net Sales, 2018–2020 ($Million)

Figure 45.Fluor: Revenue Share By Segment, 2020 (%)

Figure 46.Fluor: Revenue Share By Region, 2020 (%)

Figure 47.Ge: Revenue, 2018–2020 ($Million)

Figure 48.Ge: Revenue Share By Segment, 2020 (%)

Figure 49.Ge: Revenue Share By Region, 2020 (%)

Figure 50.Mhi: Net Sales, 2018–2020 ($Million)

Figure 51.Mhi: Revenue Share By Segment, 2020 (%)

Figure 52.Mhi: Revenue Share By Region, 2020 (%)

Figure 53.Rolls-Royce: Net Sales, 2018–2020 ($Million)

Figure 54.Rolls-Royce: Revenue Share By Segment, 2020 (%)

Figure 55.Rolls-Royce: Revenue Share By Region, 2020 (%)