Meticulous Research® has published a new report titled “Small Modular Reactors Market by Type (Light-water Reactors, High-temperature Reactors), Coolant (Water, Liquid Lead), Deployment Mode, Fuel Type (Uranium), Application (Power Generation, Desalination) and Geography — Global Forecast to 2030.”
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According to the report, the global small modular reactors market is expected to grow to $6.14 billion by 2030, at a CAGR of 2.4%. This growth is fueled by increased use of SMRs for power generation, government-led decarbonization strategies, and the rising need for reliable energy solutions. Despite this, strict regulatory standards remain a key barrier to growth. Opportunities exist in the growing push for net-zero emissions and decarbonization, while challenges arise from the lack of uniform licensing procedures. Nonetheless, the demand for clean and flexible energy sources is expected to shape the market’s future.
The report provides segmentation based on type, coolant, deployment mode, fuel type, application, and geography, and evaluates competitive dynamics.
By Type, the small modular reactors market is divided into light-water reactors, heavy-water reactors, high-temperature reactors, fast neutron reactors, molten salt reactors, and fast breeder reactors. The light-water reactor segment is expected to hold the largest share of the market in 2024, attributed to its higher efficiency and dual role as both a moderator and coolant. This segment is also expected to achieve the highest CAGR.
By Coolant, the market is segmented into liquid lead, gases, water, and others. Water is expected to dominate the market by 2024, driven by its key role in transferring heat from the reactor core to steam turbines. The water segment is forecasted to grow at the fastest rate.
By Deployment Mode, the market is categorized into land-based and marine-based deployment. Land-based deployment is projected to account for the larger share of the market by 2024 due to its cost-effectiveness and secure operations. Meanwhile, marine-based deployment is anticipated to register the highest CAGR, fueled by the need for affordable, carbon-free energy.
By Fuel Type, the uranium segment is expected to lead the market in 2024, driven by its use in nuclear power generation. Uranium’s ability to produce low-carbon electricity is expected to support the segment’s growth, and it is also forecasted to post the highest CAGR.
By Application, the small modular reactors market is segmented into power generation, process heat, desalination, and other applications. Power generation is forecasted to lead the market in 2024, driven by the increasing demand for low-carbon electricity. This segment is also expected to record the highest growth rate during the forecast period.
Regionally, the market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East Africa. The Asia-Pacific region is expected to hold the largest share of the global market by 2024, supported by increased SMR deployment in coastal and offshore areas, as well as integration with renewable energy. Asia-Pacific is also projected to achieve the highest CAGR during the forecast period.
Key Players:
The key players operating in the small modular reactors market include Brookfield Asset Management Inc. (Canada), Fluor Corporation (U.S.), General Electric Company (U.S.), Holtec International (U.S.), Mitsubishi Heavy Industries, Ltd. (Japan), Rolls-Royce plc (U.K.), Terrestrial Energy Inc. (Canada), X Energy, LLC (U.S.), Westinghouse Electric Company LLC (U.S.), Kairos Power (U.S.), TerraPower, LLC (U.S.), Toshiba Energy Systems Solutions Corporation (Japan), ARC Clean Technology, Inc. (Canada), and Leadcold (Sweden), and General Atomics (U.S.).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/small-modular-reactors-market-5512
Key questions answered in the report-
- Which are the high-growth market segments based on type, coolant type, deployment mode, fuel type, application, and geography?
- What was the historical market for small modular reactors?
- What are the market forecasts and estimates for the period 2024–2030?
- What are the major drivers, restraints, opportunities, challenges, and trends in the small modular reactors market?
- Who are the major players, and what shares do they hold in the small modular reactors market?
- How is the competitive landscape in the small modular reactors market?
- What are the recent developments in the small modular reactors market?
- What are the different strategies adopted by the major players in the small modular reactors market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the small modular reactors market, and how do they compete with the other players?
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