Small Modular Reactors: Assessing their Market Share Potential and Future Growth Analysis Report Forecast 2027

The global Small Modular Reactor (SMR) Market is forecast to be worth USD 10.42 Billion by 2027, according to a new report by Emergen Research. The growing interest in a small modular reactor is fueled by the need to reduce the impact of capital costs and provide power separate from a large power grid. There is a growing demand for smaller and simpler units for the generation of energy from nuclear power, which is driving the demand for small module reactors.

The population explosion has led to massive demand for electricity, and the growing need for efficient usage of energy systems has led to the utilization of nuclear energy. Nuclear energy is a source of clean and reliable energy and provides a platform for the deployment of a small modular reactor. SMRs are advantageous as there is no need for on-site manufacturing, which reduces the overall cost and increases efficiency. They are useful in remote areas for the generation of power.

The small modular reactor (SMR) market refers to the industry involved in the development, manufacturing, deployment, and operation of small modular nuclear reactors. SMRs are advanced nuclear power plants that are smaller in size compared to traditional large-scale reactors.

These reactors typically have a power output of less than 300 megawatts (MW) and are designed to be modular, meaning they can be constructed in a factory and then transported to the deployment site. This modular design offers several advantages over conventional reactors, such as shorter construction times, lower capital costs, enhanced safety features, and flexibility in terms of deployment in remote or constrained areas.

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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.

The leading market contenders listed in the report are:

Bechtel Corporation, Holtec International, General Electric Hitachi Nuclear Energy, Toshiba International Corporation, Mitsubishi Heavy Industries Ltd., General Atomics, Rolls Royce Plc, Nuclear Power Corporation of India Limited (NPCIL), China National Nuclear Corporation (CNNC), and Shanghai Nuclear Engineering Research and Design Institute Co., Ltd. (SNERDI).

Target Audience of the Global Small Modular Reactor Market Report:

• Key Market Players
• Investors
• Venture capitalists
• Small- and medium-sized and large enterprises
• Third-party knowledge providers
• Value-Added Resellers (VARs)
• Global market producers, distributors, traders, and suppliers
• Research organizations, consulting companies, and various alliances interested in this sector
• Government bodies, independent regulatory authorities, and policymakers

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Major Geographies Analyzed in the Report:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Market Segmentations of the Small Modular Reactor Market

This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2020 and 2027. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Small Modular Reactor market on the basis of product, application, and region:

Segments Covered in this report are:

• Type Outlook (Revenue, USD Billion; 2017-2027)
• Pressurized water reactor (PWR)
• Pressurized heavy water reactor (PHWR)
• High-temperature reactor (HTR)
• Fast neutron reactor (FNR)
• Other (MST, Integral PWR)
• Deployment Outlook (Revenue, USD Billion; 2017-2027)
• Single Module Plant
• Multi-Module Plant
• Application Outlook (Revenue, USD Billion; 2017-2027)
• Power Generation
• Desalination
• Process Heat
• Other Industrial Uses

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Some Key Highlights from the Report

• In August 2020, the Bill Gates-backed nuclear innovation firm, TerraPower in partnership with GE Hitachi Nuclear Energy launched Natrium, a new small modular reactor system paired with a molten salt storage unit. The product can be used to power 345-megawatt SMR to around 500 megawatts up to five hours.
• In the integral pressurized water reactor, the primary circuit components are placed inside the reactor pressure vessel, which eliminates the need for primary circuit pipework, which enhances the safety and reliability of the technology.
• A multi-module plant or power station is composed of multiple nuclear power modules where each module is operated safely independent of each other. The modules are located in a common building structure and can be physically impacted by any event happening at another module due to close proximity and lack of physical barriers.
• Small module reactors are extensively used to power end users who require a significant amount of energy, such as large water treatment or purification plants and mines. Remote areas find it difficult to find an economical, efficient, and reliable energy source. SMR provides a solution to these isolated areas. They also have a load-following design, so that they can conserve energy when demand is low.
• North America held a significant share of 30.8% in 2019. The bulk of the demand is from the United States. The country is taking a keen interest in developing the nuclear industry, and major focus has been on the development of SMR to replace coal-fired power plants. The implementation of strict regulations to safeguard against air pollution is driving the demand for SMR in the country.

Additional information offered by the report:

• Along with a complete overview of the global Small Modular Reactor market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
• The report elaborates on the global Small Modular Reactor market size and share governed by the major geographies.
• It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
• It further presents a detailed description of the company profiles of the key market contenders.

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