Small Modular Reactor Market Forecast to 2027

The Global Small Modular Reactor Market research report is a complete study that summarises the most recent changes and advancements in the Small Modular Reactor industry, with 2018 acting as the base year and the forecast year being 2020–2027. The analysis provides useful details on the market's size, share, sales channels, distribution system, market segmentation, consumer needs, industry trends, and potential for future growth. The research also looks at both the global and regional market growth. The paper examines the COVID-19 pandemic's implications on the market for Small Modular Reactor and its key segments.

The global Small Modular Reactor (SMR) Market is forecasted 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 cost 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 tremendous increase in population has increased the demand for power, and the necessity for energy systems to be used more efficiently has increased the use of nuclear energy. A compact modular reactor can be deployed on the basis of nuclear energy, which is a safe and dependable energy source. SMRs are useful because they eliminate the need for on-site manufacturing, which lowers costs overall and boosts productivity. For the creation of power, they are useful in isolated locations.

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The global Small Modular Reactor market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Small Modular Reactor industry is witnessing an expansion and change of dynamics owing to the entry of several new players.

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.

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).

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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.

Market Overview:

The report bifurcates the Small Modular Reactor market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

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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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market. 

Regional Analysis Covers:

• 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)

Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.

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