Forecasting Trends and Analyzing the Size and Share of the Small Modular Reactors Market

 

Meticulous Research®, a renowned global market research company, has published an in-depth 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.’ The report forecasts that the small modular reactors (SMRs) market will reach $6.14 billion by 2030, growing at a compound annual growth rate (CAGR) of 2.4% during the forecast period.

The growth of the SMRs market is driven by factors such as increased adoption of SMRs for power generation, supportive government decarbonization efforts, and a rising demand for reliable and flexible nuclear power. Despite these drivers, the market faces challenges from stringent regulatory policies and standards for SMR deployment. The push towards net-zero emissions and decarbonization offers growth opportunities, although the lack of a standardized licensing process presents a significant obstacle.

The market is segmented by reactor type, coolant type, deployment mode, fuel type, application, and geography. Reactor types include light-water reactors, heavy-water reactors, high-temperature reactors, fast neutron reactors, molten salt reactors, and fast breeder reactors. The light-water reactors segment is anticipated to hold the largest market share in 2024 due to their efficiency and dual functionality. This segment is also projected to experience the highest CAGR during the forecast period.

Coolant types are divided into liquid lead, gases, water, and other coolants. The water coolant segment is expected to dominate in 2024, driven by its essential role in heat transfer and core pressure management. This segment is also expected to achieve the highest CAGR.

Deployment modes are categorized into land-based and marine-based options. Land-based deployments are forecasted to hold a larger market share in 2024 due to their safety and cost benefits. Conversely, marine-based deployments are anticipated to grow at the highest CAGR, driven by the demand for affordable, carbon-free energy and flexibility.

Fuel types include uranium and others. The uranium segment is expected to lead the market in 2024, due to its role in generating low-carbon electricity and its use in nuclear fission. This segment is also projected to see the highest CAGR.

Applications for SMRs include power generation, process heat, desalination, and other uses. The power generation segment is expected to dominate the market in 2024, driven by the demand for carbon-free electricity and efficient power plants. This segment is also anticipated to achieve the highest CAGR.

Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is projected to hold the largest market share in 2024, with Europe, North America, Latin America, and the Middle East & Africa following. Asia-Pacific’s significant market position is due to key players, increased SMR deployments, and a growing need for reliable, low-carbon power. This region is also expected to register 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.).

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=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?

Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

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