Small Modular Reactor (SMR) Market

Global small modular reactor market is anticipated to reach US$9 Bn by 2030.

The top 5 players in small modular reactor market include NuScale Power, LLC., Mitsubishi Heavy Industries, Ltd., Holtec International, General Atomics, and Rolls Royce.

In 2022, Asia Pacific constituted 84.7% of the global small modular reactor market by value. In terms of capacity, Asia Pacific is expected to register a CAGR of 6.6% from 2023-2030.

In terms of type, hybrid and electric systems dominated the market in 2022. In terms of end-user industry, PWR constituted more than 50% share of the global SMR market in 2022.

The market witnessed impacts during COVID-19. There has been a significant fall in R&D projects related to new SMR technologies. Several planned projects were stretched ahead from the initial commercialization dates.