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

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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 2031

The research 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 2031' from Meticulous Research(R) provides an in-depth analysis of the small modular reactors market in five major geographies and focuses on the current market trends, market sizes, market shares, recent developments, and forecasts to 2031.

The small modular reactors market is projected to reach $6.3 billion by 2031, at a CAGR of 2.4% from 2024 to 2031.

The growth of this market is driven by the rising adoption of SMRs for power generation, increasing government initiatives aimed at promoting decarbonization, and growing demand for reliable and flexible nuclear power. However, stringent regulatory policies and standards for deploying SMRs restrain the growth of this market. Furthermore, the increasing focus on net zero emission and decarbonization in the energy sector is expected to create market growth opportunities. However, the lack of a standard licensing process is a major challenge for the players operating in this market. Additionally, the rising demand for clean and reliable energy sources is a prominent trend in this market.

The small modular reactors market is segmented by type (light-water reactors [pressurized water reactors and boiling water reactors], heavy-water reactors, high-temperature reactors, fast neutron reactors, molten salt reactors, and fast breeder reactors), coolant type (liquid lead, gases, water, and other coolants), deployment mode (land-based deployment and marine-based deployment), fuel type (uranium and other fuel types), application (power generation [single-module power plants and multi-module power plants] process heat, desalination, and other applications), and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.

Based on type, the small modular reactors market is segmented into light-water reactors, heavy-water reactors, high-temperature reactors, fast neutron reactors, molten salt reactors, and fast breeder reactors. In 2024, the light-water reactors segment is expected to account for the largest share of the small modular reactors market. The large market share of this segment is attributed to the increasing use of light-water reactors due to the higher efficiency of generating energy from water and the growing ability to serve both as a moderator and coolant to carry away the energy generated by nuclear fission. Also, this segment is projected to register the highest CAGR during the forecast period.

Based on coolant type, the small modular reactors market is segmented into liquid lead, gases, water, and other coolants. In 2024, the water segment is expected to account for the largest share of the small modular reactors market. The large market share of this segment is attributed to the increasing need for water coolant to convey heat from the reactor core to the steam turbines and the growing adoption of water coolant to maintain manageable pressures within the core. Moreover, the water segment is projected to register the highest CAGR during the forecast period.

Based on deployment mode, the small modular reactors market is segmented into land-based and marine-based deployment. In 2024, the land-based deployment segment is expected to account for the larger share of the small modular reactors market. This segment's large market share can be attributed to the cost-efficiency of land-based deployment. Operational and maintenance costs are generally lower for land-based SMRs due to easier accessibility for maintenance crews and reduced logistical challenges. However, the marine-based deployment segment is projected to register the highest CAGR during the forecast period. Marine-based deployment of SMRs can mitigate environmental impacts associated with land use, making it a viable option for densely populated coastal regions or areas with limited land availability. Offshore SMRs also offer off-grid power solutions for remote communities or industrial operations, reducing reliance on onshore grid infrastructure. These benefits are anticipated to drive the growth of this segment in the coming years.

Based on fuel type, the small modular reactors market is segmented into uranium and other fuel type. In 2024, the uranium segment is expected to account for the larger share of the small modular reactors market. This segment's large market share can be attributed to the increasing demand for uranium, primarily for its capability to generate large-scale, low-carbon baseload electricity in nuclear power plants through nuclear fission reactions. Moreover, the uranium segment is projected to register the highest CAGR during the forecast period.

Based on application, the small modular reactors market is segmented into power generation, process heat, desalination, and other applications. In 2024, the power generation segment is expected to account for the largest share of the small modular reactors market. This segment's large market share can be attributed to the rising need for low-carbon alternatives to traditional fossil fuel-based power generation and government policies & incentives aimed at promoting the adoption of SMRs. Moreover, the power generation segment is projected to register the highest CAGR during the forecast period.

Based on geography, the small modular reactors market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-pacific is expected to account for the largest share of the small modular reactors systems market, followed by Europe, North America, Latin America, and the Middle East & Africa. Asia-Pacific's major market share can be attributed to the presence of leading industry players offering SMRs, increasing deployments in coastal, island, and offshore areas, and the rising trend of integrating renewable energy sources with SMRs, and the growing demand for low-carbon, reliable, and flexible power generation solutions in the region. Moreover, the market in Asia-Pacific is projected to register the highest CAGR during the forecast period.

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.).

Key Questions Answered in the Report:

What are the high-growth market segments in terms of type, coolant type, deployment mode, fuel type, and application?
What is the historical market size for small modular reactors?
What are the market forecasts and estimates for 2024-2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the small modular reactors market?
Who are the major players in the small modular reactors market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the small modular reactors market?
What are the growth strategies adopted by major market players?
What are the key market trends, and which are the high-growth countries?
Who are the emerging players in the small modular reactors market, and how do they compete with the other players?

Scope of the Report:

Small Modular Reactors Market Assessment- by Type

Light-water Reactors
- Pressurized Water Reactors
- Boiling Water Reactors
Heavy-water Reactors
High-temperature Reactors
Fast Neutron Reactors
Molten Salt Reactors
Fast Breeder Reactors

Small Modular Reactors Market Assessment-by Coolant Type

Liquid Lead
Gases
Water
Other Coolant Types

Small Modular Reactors Market Assessment-by Deployment Mode

Land-based Deployment
Marine-based Deployment

Small Modular Reactors Market Assessment-by Fuel Type

Uranium
Other Fuel Type

Small Modular Reactors Market Assessment-by Application

Power Generation
- Single-module Power Plants
- Multi-module Power Plants
Process Heat
Desalination
Other Applications

Small Modular Reactors Market Assessment-by Geography

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- Rest of Europe
Asia-Pacific
- Japan
- China
- India
- South Korea
- Singapore
- Australia & New Zealand
- Indonesia
- Rest of Asia-Pacific
Latin America
- Mexico
- Brazil
- Rest of Latin America
Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- Rest of the Middle East & Africa

Product Code: MROTH - 104829

1. Market Definition & Scope

1.1 Market Definition
1.2 Market Ecosystem
1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations

2. Research Methodology

2.1 Research Approach
2.2 Process of Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research / Interviews with Key Opinion Leaders of the Industry
2.3 Market Sizing and Forecast
- 2.3.1 Market Size Estimation Approach
- 2.3.2 Growth Forecast Approach
2.4 Assumptions for the Study

3. Executive Summary

3.1 Market Overview
3.2 Market Analysis, by Type
3.3 Market Analysis, by Coolant Type
3.4 Market Analysis, by Deployment Mode
3.5 Market Analysis, by Fuel Type
3.6 Market Analysis, by Application
3.7 Market Analysis, by Geography
3.8 Competitive Analysis

4. Market Insights

4.1 Overview
4.2 Factors Affecting Market Growth
4.3 Market Trend
- 4.3.1 Increasing Demand for Clean and Reliable Energy
4.4 Case Studies
- 4.4.1 Case Study A
- 4.4.2 Case Study B
- 4.4.3 Case Study C
4.5 Value Chain Analysis
4.6 Regulatory Analysis

5. Small Modular Reactors Market Assessment- by Type

5.1 Overview
5.2 Light-water Reactors
- 5.2.1 Pressurized Water Reactors
- 5.2.2 Boiling Water Reactors
5.3 Heavy-water Reactors
5.4 High-temperature Reactors
5.5 Fast Neutron Reactors
5.6 Molten Salt Reactors
5.7 Fast Breeder Reactors

6. Small Modular Reactors Market Assessment-by Coolant Type

6.1 Overview
6.2 Liquid Lead
6.3 Gases
6.4 Water
6.5 Other Coolant Types

7. Small Modular Reactors Market Assessment-by Deployment Mode

7.1 Overview
7.2 Land-based Deployment
7.3 Marine-based Deployment

8. Small Modular Reactors Market Assessment-by Fuel Type

8.1 Overview
8.2 Uranium
8.3 Other Fuel Type

9. Small Modular Reactors Market Assessment-by Application

9.1 Overview
9.2 Power Generation
- 9.2.1 Single-module Power Plants
- 9.2.2 Multi-module Power Plants
9.3 Process Heat
9.4 Desalination
9.5 Other Applications

10. Small Modular Reactors Market Assessment-by Geography

10.1 North America
- 10.1.1 U.S.
- 10.1.2 Canada
10.2 Europe
- 10.2.1 Germany
- 10.2.2 U.K.
- 10.2.3 France
- 10.2.4 Italy
- 10.2.5 Spain
- 10.2.6 Sweden
- 10.2.7 Rest of Europe
10.3 Asia-Pacific
- 10.3.1 Japan
- 10.3.2 China
- 10.3.3 India
- 10.3.4 South Korea
- 10.3.5 Singapore
- 10.3.6 Australia & New Zealand
- 10.3.7 Indonesia
- 10.3.8 Rest of Asia-Pacific
10.4 Latin America
- 10.4.1 Mexico
- 10.4.2 Brazil
- 10.4.3 Rest of Latin America
10.5 Middle East & Africa
- 10.5.1 UAE
- 10.5.2 Saudi Arabia
- 10.5.3 Israel
- 10.5.4 Rest of the Middle East & Africa

11. Global Small Modular Reactors Market - Competition Analysis

11.1 Overview
11.2 Key Growth Strategies
11.3 Competitive Dashboard
- 11.3.1 Industry Leader
- 11.3.2 Market Differentiators
- 11.3.3 Vanguards
- 11.3.4 Emerging Companies
11.4 Vendor Market Positioning
11.5 Market Ranking, By Key Player

12. Company Profile

12.1 Brookfield Asset Management Inc. (Canada)
12.2 Fluor Corporation (U.S.)
12.3 General Electric Company (U.S.)
12.4 Holtec International (U.S.)
12.5 Mitsubishi Heavy Industries, Ltd. (Japan)
12.6 Rolls-Royce plc (U.K.)
12.7 Terrestrial Energy Inc. (Canada)
12.8 X Energy, LLC (U.S.)
12.9 Westinghouse Electric Company LLC (U.S.)
12.10 Kairos Power (U.S.)
12.11 TerraPower, LLC (U.S.)
12.12 Toshiba Energy Systems & Solutions Corporation (Japan)
12.13 ARC Clean Technology, Inc. (Canada)
12.14 Leadcold (Sweden)
12.15 General Atomics (U.S.)

13. Appendix

13.1. Available Customization
13.2. Related Reports