1. Market Research
  2. > Energy & Environment
  3. > Energy
  4. > Nuclear Power Market Trends
Small Modular Reactor Market by Reactor, Deployment, Connectivity, Location, Application And Region - Global Forecast to 2026

Small Modular Reactor Market by Reactor, Deployment, Connectivity, Location, Application And Region - Global Forecast to 2026

  • September 2021
  • 208 pages
  • ID: 6149530
  • Format: PDF
  • MarketsandMarkets

Summary

Table of Contents

Search Inside

The small modular reactor market is projected to reach USD 11.3 billion by 2026 from an estimated USD 9.7 billion in 2021, at a CAGR of 3.2% during the forecast period. The cost reduction due to modularization and factory production is expected to drive the small modular reactor market growth. Furthermore, the need for clean, stable and reliable nuclear energy for the supply of baseload power is driving the market. However, strigent nuclear regulatory requirements for deployment of SMRs is likely to hamper the growth of small modular reactor market.

The off-grid segment, by connectivity, is expected to be the largest and the fastest growing market from 2021 to 2026
The off-grid SMR segment accounted for a larger market share in 2020.SMRs deployed for off-grid operations are not connected to a large-scale electricity grid.

Most SMRs are designed for remote locations where it is not feasible to site larger nuclear power plants.Off-grid SMRs located in remote communities, islands, and mining sites can be used for power generation and other non-electric applications.

Despite the high cost of electricity generation, deployment of SMRs is beneficial in remote regions, especially in Russia, owing to the higher cost of alternatives such as power grid extension and fossil fuel-fired generators.

The multi-module power plant, by deployment, is expected to be the fastest growing market from 2021 to 2026
The multi-module power plant segment is expected to be the fastest growing deployment segment during the forecast period, owing to the ease of financing additional modules.Multi-module SMR plants are easier to finance compared with large nuclear reactors, as SMRs require lower upfront investments for a unit, and additional capacity may be built over time.

The ability to add modules incrementally in multi-module SMRs provides economies of series production.This, in turn, could permit investors and operators to adjust to the changes in demand for electricity and budgetary constraints to reduce financial risks.

These factors are expected to drive the demand for SMRs for deployment in multi-module power plants.

The power generation segment, by application, is expected to be the largest market from 2021 to 2026
Power generation is expected to dominate the global small modular reactor market between 2021 and 2026 as the power generated by SMRs is expected to be economical compared with other low-carbon alternatives and help reduce carbon emissions and meet new energy demands.SMRs provide a stable and reliable baseload power supply, which makes them suitable for replacing and optimizing the use of retiring coal and other fossil fuel-fired power plants and replacing aging infrastructure.

SMRs also have load following capabilities and can be integrated with renewable energies to provide flexible power, as these reactors can vary their output to meet the fluctuations in power produced using renewable energy.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%
• By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
• By Region: Asia Pacific- 33%, Middle East & Africa – 20%, Europe- 20%, and Americas 27%

Note: Others includes sales managers, marketing managers, product managers, and product engineers.

The tier of the companies is defined based on their total revenue as of 2017. Tier 1: USD 1 billion and above, Tier 2: From USD 500 million to USD 1 billion, and Tier 3:
The small modular reactor market is dominated by a few major players that have a wide regional presence. The leading players in the small modular reactor market Westinghouse Electric (US), NuScale Power (US), General Electric-Hitachi Nulcear Energy (US), Terrestrial Energy (Canada), Moltex Energy (Canada), X-energy (US), Hotec International (US), Genral Atomics (US), LeadCold Reactors (Sweden), ARC Clean Energy (Canada), Rolls-Royce (UK), Tokamak Energy (UK), Ultra Safe Nuclear (US), Toshiba Energy Systems & Solutions (Japan), SNC-Lavalin Group (Canada) and others.

Study Coverage:
The report defines, describes, and forecasts the small modular reactor market, by reactor type, connectivity, deployment, location, application, and region.It also offers a detailed qualitative and quantitative analysis of the market.

The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the small modular reactor market.

Key Benefits of Buying the Report
1. The report identifies and addresses the key markets for small modular reactor operations and services, which would help equipment manufacturers and service providers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Iran Power Market Outlook to 2030, Update 2021 - Market Trends, Regulations, and Competitive Landscape

  • € 2193
  • August 2021
  • 55 pages

Iran Power Market Outlook to 2030, Update 2021 - Market Trends, Regulations, and Competitive Landscape Summary This report discusses the power market structure of Iran and provides historical and forecast ...

  • Iran
  • Energy
  • Renewable Energy
  • Industry analysis
  • Energy Consumption
  • Renewable Capacity

ref:plp2021

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on