Small Modular Reactor Market Insights 2025, Analysis and Forecast to 2030, by Manufacturers, Regions, Technology, Application, Product Type

By: HDIN Research Published: 2025-07-13 Pages: 89
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Small Modular Reactor Market Summary
Introduction
Small Modular Reactors (SMRs) represent an advanced nuclear technology featuring compact, scalable reactor designs typically generating 300 megawatts or less of electricity. These systems offer enhanced safety features, simplified construction, and modular deployment capabilities compared to traditional large nuclear power plants. SMR technology encompasses various reactor types including light water reactors utilizing proven technology, heavy water reactors offering fuel flexibility, high-temperature reactors enabling advanced applications, and innovative designs incorporating passive safety systems. Applications span electrical power generation for grid supply, industrial process heat for manufacturing, desalination for water production, and hydrogen production for clean energy applications. The technology addresses the need for clean, reliable baseload power while offering advantages in deployment flexibility, capital requirements, and safety characteristics. The market is driven by growing demand for clean energy solutions, nuclear technology advancement, and the need for flexible power generation to complement renewable energy sources.

Market Size and Growth Forecast
The global small modular reactor market is projected to reach between USD 4.0 billion and USD 6.5 billion in 2025, with a compound annual growth rate (CAGR) of 3% to 8% through 2030, reflecting the gradual deployment of SMR technology and increasing investment in advanced nuclear systems.

Regional Analysis
North America leads the market with significant government support and private investment in SMR development, particularly in the United States where multiple SMR designs are under development and licensing review. The region benefits from established nuclear expertise and supportive regulatory frameworks. Europe demonstrates strong interest driven by energy security concerns and carbon reduction targets, with the UK, France, and Poland actively pursuing SMR deployment. Asia Pacific shows growing potential with China, Japan, and South Korea investing in SMR technology development. Emerging markets in Latin America, the Middle East, and Africa present opportunities as energy demand grows and clean energy solutions become increasingly important.

Application Analysis
Power Generation: Expected to dominate market development as SMRs provide clean, reliable baseload electricity generation. These systems offer advantages in deployment flexibility and capital requirements compared to large nuclear plants. Applications include grid supply, industrial power, and remote area electrification. Trends focus on grid integration, load following capabilities, and economic competitiveness.
Desalination: Projected significant growth driven by global water scarcity and the need for large-scale freshwater production. SMRs provide the thermal energy and electricity required for desalination processes. Market trends emphasize cogeneration applications and integration with existing water infrastructure.
Industrial: Anticipated robust expansion as industries seek clean, reliable process heat and power. SMRs serve chemical processing, steel production, and other energy-intensive industries requiring high-temperature heat. Development trends focus on industrial integration and process optimization.
Hydrogen Production: Expected strong growth as the hydrogen economy develops and clean hydrogen production becomes increasingly important. SMRs provide the high-temperature heat and electricity required for efficient hydrogen production processes. Trends emphasize integration with hydrogen infrastructure and clean energy systems.

Type Analysis
Light Water Reactors: Projected to lead market deployment due to proven technology and established supply chains. These systems utilize conventional nuclear technology with enhanced safety features and modular design. Technological advances focus on simplification, cost reduction, and improved safety characteristics.
Heavy Water Reactors: Expected moderate growth offering fuel flexibility and established technology base. These systems provide advantages in fuel utilization and breeding capabilities. Development trends emphasize advanced fuel cycles and enhanced safety systems.
High-temperature Reactors: Anticipated significant expansion driven by industrial process heat applications and hydrogen production. These systems offer unique high-temperature capabilities for advanced applications. Trends focus on industrial integration and process efficiency optimization.
Others: Projected growth encompassing innovative reactor designs including molten salt reactors, fast reactors, and other advanced concepts. These systems offer potential advantages in safety, fuel utilization, and waste management. Development trends emphasize technological innovation and commercial viability.

Key Market Players
Leading companies include Rolls-Royce, developing advanced SMR designs; Westinghouse Electric Company, leveraging nuclear expertise; General Electric Company, advancing reactor technology; NuScale Power, pioneering SMR commercialization; ULTRA SAFE NUCLEAR, developing innovative safety systems; Terrestrial Energy, advancing molten salt reactor technology; Brookfield Asset Management, providing financing and development; X Energy, developing high-temperature reactors; Fluor Corporation, providing engineering and construction services; Moltex Energy, advancing molten salt technology; and General Atomics, developing advanced reactor designs. These companies drive market growth through technological innovation and strategic partnerships.

Porter's Five Forces Analysis
Threat of New Entrants: Low, due to extremely high capital requirements, regulatory barriers, and technical complexity limiting new market participants.
Threat of Substitutes: Moderate, with renewable energy sources and other clean technologies serving as alternatives, though SMRs offer unique advantages in baseload power generation.
Bargaining Power of Buyers: Moderate, with utilities and governments seeking cost-effective, reliable power generation while balancing regulatory and safety requirements.
Bargaining Power of Suppliers: Low to moderate, due to specialized supply chains and limited suppliers of nuclear-grade components and materials.
Competitive Rivalry: Moderate, with companies competing on technology performance, safety characteristics, and commercial viability in a developing market.

Market Opportunities and Challenges
Opportunities include the growing demand for clean, reliable baseload power to complement renewable energy sources. Government support and investment in advanced nuclear technology accelerate development. Industrial applications requiring high-temperature process heat create substantial market potential. International cooperation and technology sharing enhance deployment prospects.
Challenges encompass regulatory approval processes requiring extensive testing and validation. High capital requirements and long development timelines limit market entry. Public acceptance and political support remain variable across regions. Technical challenges in commercializing advanced reactor designs require significant investment and expertise.
Table of Contents
Chapter 1 Executive Summary
Chapter 2 Abbreviation and Acronyms
Chapter 3 Preface
3.1 Research Scope
3.2 Research Sources
3.2.1 Data Sources
3.2.2 Assumptions
3.3 Research Method
Chapter 4 Market Landscape
4.1 Market Overview
4.2 Classification/Types
4.3 Application/End Users
Chapter 5 Market Trend Analysis
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Threats
Chapter 6 Industry Chain Analysis
6.1 Upstream/Suppliers Analysis
6.2 Small Modular Reactor Analysis
6.2.1 Technology Analysis
6.2.2 Cost Analysis
6.2.3 Market Channel Analysis
6.3 Downstream Buyers/End Users
Chapter 7 Latest Market Dynamics
7.1 Latest News
7.2 Merger and Acquisition
7.3 Planned/Future Project
7.4 Policy Dynamics
Chapter 8 Historical and Forecast Small Modular Reactor Market in North America (2020-2030)
8.1 Small Modular Reactor Market Size
8.2 Small Modular Reactor Market by End Use
8.3 Competition by Players/Suppliers
8.4 Small Modular Reactor Market Size by Type
8.5 Key Countries Analysis
8.5.1 United States
8.5.2 Canada
8.5.3 Mexico
Chapter 9 Historical and Forecast Small Modular Reactor Market in South America (2020-2030)
9.1 Small Modular Reactor Market Size
9.2 Small Modular Reactor Market by End Use
9.3 Competition by Players/Suppliers
9.4 Small Modular Reactor Market Size by Type
9.5 Key Countries Analysis
9.5.1 Brazil
9.5.2 Argentina
9.5.3 Chile
9.5.4 Peru
Chapter 10 Historical and Forecast Small Modular Reactor Market in Asia & Pacific (2020-2030)
10.1 Small Modular Reactor Market Size
10.2 Small Modular Reactor Market by End Use
10.3 Competition by Players/Suppliers
10.4 Small Modular Reactor Market Size by Type
10.5 Key Countries Analysis
10.5.1 China
10.5.2 India
10.5.3 Japan
10.5.4 South Korea
10.5.5 Southest Asia
10.5.6 Australia
Chapter 11 Historical and Forecast Small Modular Reactor Market in Europe (2020-2030)
11.1 Small Modular Reactor Market Size
11.2 Small Modular Reactor Market by End Use
11.3 Competition by Players/Suppliers
11.4 Small Modular Reactor Market Size by Type
11.5 Key Countries Analysis
11.5.1 Germany
11.5.2 France
11.5.3 United Kingdom
11.5.4 Italy
11.5.5 Spain
11.5.6 Belgium
11.5.7 Netherlands
11.5.8 Austria
11.5.9 Poland
11.5.10 Russia
Chapter 12 Historical and Forecast Small Modular Reactor Market in MEA (2020-2030)
12.1 Small Modular Reactor Market Size
12.2 Small Modular Reactor Market by End Use
12.3 Competition by Players/Suppliers
12.4 Small Modular Reactor Market Size by Type
12.5 Key Countries Analysis
12.5.1 Egypt
12.5.2 Israel
12.5.3 South Africa
12.5.4 Gulf Cooperation Council Countries
12.5.5 Turkey
Chapter 13 Summary For Global Small Modular Reactor Market (2020-2025)
13.1 Small Modular Reactor Market Size
13.2 Small Modular Reactor Market by End Use
13.3 Competition by Players/Suppliers
13.4 Small Modular Reactor Market Size by Type
Chapter 14 Global Small Modular Reactor Market Forecast (2025-2030)
14.1 Small Modular Reactor Market Size Forecast
14.2 Small Modular Reactor Application Forecast
14.3 Competition by Players/Suppliers
14.4 Small Modular Reactor Type Forecast
Chapter 15 Analysis of Global Key Vendors
15.1 Rolls-Royce
15.1.1 Company Profile
15.1.2 Main Business and Small Modular Reactor Information
15.1.3 SWOT Analysis of Rolls-Royce
15.1.4 Rolls-Royce Small Modular Reactor Sales, Revenue, Price and Gross Margin (2020-2025)
15.2 Westinghouse Electric Company
15.2.1 Company Profile
15.2.2 Main Business and Small Modular Reactor Information
15.2.3 SWOT Analysis of Westinghouse Electric Company
15.2.4 Westinghouse Electric Company Small Modular Reactor Sales, Revenue, Price and Gross Margin (2020-2025)
15.3 General Electric Company
15.3.1 Company Profile
15.3.2 Main Business and Small Modular Reactor Information
15.3.3 SWOT Analysis of General Electric Company
15.3.4 General Electric Company Small Modular Reactor Sales, Revenue, Price and Gross Margin (2020-2025)
15.4 NuScale Power
15.4.1 Company Profile
15.4.2 Main Business and Small Modular Reactor Information
15.4.3 SWOT Analysis of NuScale Power
15.4.4 NuScale Power Small Modular Reactor Sales, Revenue, Price and Gross Margin (2020-2025)
15.5 ULTRA SAFE NUCLEAR
15.5.1 Company Profile
15.5.2 Main Business and Small Modular Reactor Information
15.5.3 SWOT Analysis of ULTRA SAFE NUCLEAR
15.5.4 ULTRA SAFE NUCLEAR Small Modular Reactor Sales, Revenue, Price and Gross Margin (2020-2025)
15.6 Terrestrial Energy
15.6.1 Company Profile
15.6.2 Main Business and Small Modular Reactor Information
15.6.3 SWOT Analysis of Terrestrial Energy
15.6.4 Terrestrial Energy Small Modular Reactor Sales, Revenue, Price and Gross Margin (2020-2025)
15.7 Brookfield Asset Management
15.7.1 Company Profile
15.7.2 Main Business and Small Modular Reactor Information
15.7.3 SWOT Analysis of Brookfield Asset Management
15.7.4 Brookfield Asset Management Small Modular Reactor Sales, Revenue, Price and Gross Margin (2020-2025)
Please ask for sample pages for full companies list
Table Abbreviation And Acronyms
Table Research Scope Of Small Modular Reactor Report
Table Data Sources Of Small Modular Reactor Report
Table Major Assumptions Of Small Modular Reactor Report
Table Small Modular Reactor Classification
Table Small Modular Reactor Applications
Table Drivers Of Small Modular Reactor Market
Table Restraints Of Small Modular Reactor Market
Table Opportunities Of Small Modular Reactor Market
Table Threats Of Small Modular Reactor Market
Table Raw Materials Suppliers
Table Different Production Methods Of Small Modular Reactor
Table Cost Structure Analysis Of Small Modular Reactor
Table Key End Users
Table Latest News Of Small Modular Reactor Market
Table Merger And Acquisition
Table Planned/Future Project Of Small Modular Reactor Market
Table Policy Of Small Modular Reactor Market
Table 2020-2030 North America Small Modular Reactor Market Size
Table 2020-2030 North America Small Modular Reactor Market Size By Application
Table 2020-2025 North America Small Modular Reactor Key Players Revenue
Table 2020-2025 North America Small Modular Reactor Key Players Market Share
Table 2020-2030 North America Small Modular Reactor Market Size By Type
Table 2020-2030 United States Small Modular Reactor Market Size
Table 2020-2030 Canada Small Modular Reactor Market Size
Table 2020-2030 Mexico Small Modular Reactor Market Size
Table 2020-2030 South America Small Modular Reactor Market Size
Table 2020-2030 South America Small Modular Reactor Market Size By Application
Table 2020-2025 South America Small Modular Reactor Key Players Revenue
Table 2020-2025 South America Small Modular Reactor Key Players Market Share
Table 2020-2030 South America Small Modular Reactor Market Size By Type
Table 2020-2030 Brazil Small Modular Reactor Market Size
Table 2020-2030 Argentina Small Modular Reactor Market Size
Table 2020-2030 Chile Small Modular Reactor Market Size
Table 2020-2030 Peru Small Modular Reactor Market Size
Table 2020-2030 Asia & Pacific Small Modular Reactor Market Size
Table 2020-2030 Asia & Pacific Small Modular Reactor Market Size By Application
Table 2020-2025 Asia & Pacific Small Modular Reactor Key Players Revenue
Table 2020-2025 Asia & Pacific Small Modular Reactor Key Players Market Share
Table 2020-2030 Asia & Pacific Small Modular Reactor Market Size By Type
Table 2020-2030 China Small Modular Reactor Market Size
Table 2020-2030 India Small Modular Reactor Market Size
Table 2020-2030 Japan Small Modular Reactor Market Size
Table 2020-2030 South Korea Small Modular Reactor Market Size
Table 2020-2030 Southeast Asia Small Modular Reactor Market Size
Table 2020-2030 Australia Small Modular Reactor Market Size
Table 2020-2030 Europe Small Modular Reactor Market Size
Table 2020-2030 Europe Small Modular Reactor Market Size By Application
Table 2020-2025 Europe Small Modular Reactor Key Players Revenue
Table 2020-2025 Europe Small Modular Reactor Key Players Market Share
Table 2020-2030 Europe Small Modular Reactor Market Size By Type
Table 2020-2030 Germany Small Modular Reactor Market Size
Table 2020-2030 France Small Modular Reactor Market Size
Table 2020-2030 United Kingdom Small Modular Reactor Market Size
Table 2020-2030 Italy Small Modular Reactor Market Size
Table 2020-2030 Spain Small Modular Reactor Market Size
Table 2020-2030 Belgium Small Modular Reactor Market Size
Table 2020-2030 Netherlands Small Modular Reactor Market Size
Table 2020-2030 Austria Small Modular Reactor Market Size
Table 2020-2030 Poland Small Modular Reactor Market Size
Table 2020-2030 Russia Small Modular Reactor Market Size
Table 2020-2030 Mea Small Modular Reactor Market Size
Table 2020-2030 Mea Small Modular Reactor Market Size By Application
Table 2020-2025 Mea Small Modular Reactor Key Players Revenue
Table 2020-2025 Mea Small Modular Reactor Key Players Market Share
Table 2020-2030 Mea Small Modular Reactor Market Size By Type
Table 2020-2030 Egypt Small Modular Reactor Market Size
Table 2020-2030 Israel Small Modular Reactor Market Size
Table 2020-2030 South Africa Small Modular Reactor Market Size
Table 2020-2030 Gulf Cooperation Council Countries Small Modular Reactor Market Size
Table 2020-2030 Turkey Small Modular Reactor Market Size
Table 2020-2025 Global Small Modular Reactor Market Size By Region
Table 2020-2025 Global Small Modular Reactor Market Size Share By Region
Table 2020-2025 Global Small Modular Reactor Market Size By Application
Table 2020-2025 Global Small Modular Reactor Market Share By Application
Table 2020-2025 Global Small Modular Reactor Key Vendors Revenue
Table 2020-2025 Global Small Modular Reactor Key Vendors Market Share
Table 2020-2025 Global Small Modular Reactor Market Size By Type
Table 2020-2025 Global Small Modular Reactor Market Share By Type
Table 2025-2030 Global Small Modular Reactor Market Size By Region
Table 2025-2030 Global Small Modular Reactor Market Size Share By Region
Table 2025-2030 Global Small Modular Reactor Market Size By Application
Table 2025-2030 Global Small Modular Reactor Market Share By Application
Table 2025-2030 Global Small Modular Reactor Key Vendors Revenue
Table 2025-2030 Global Small Modular Reactor Key Vendors Market Share
Table 2025-2030 Global Small Modular Reactor Market Size By Type
Table 2025-2030 Small Modular Reactor Global Market Share By Type

Figure Market Size Estimated Method
Figure Major Forecasting Factors
Figure Small Modular Reactor Picture
Figure 2020-2030 North America Small Modular Reactor Market Size And Cagr
Figure 2020-2030 South America Small Modular Reactor Market Size And Cagr
Figure 2020-2030 Asia & Pacific Small Modular Reactor Market Size And Cagr
Figure 2020-2030 Europe Small Modular Reactor Market Size And Cagr
Figure 2020-2030 Mea Small Modular Reactor Market Size And Cagr
Figure 2020-2025 Global Small Modular Reactor Market Size And Growth Rate
Figure 2025-2030 Global Small Modular Reactor Market Size And Growth Rate

Research Methodology

  • Market Estimated Methodology:

    Bottom-up & top-down approach, supply & demand approach are the most important method which is used by HDIN Research to estimate the market size.

1)Top-down & Bottom-up Approach

Top-down approach uses a general market size figure and determines the percentage that the objective market represents.

Bottom-up approach size the objective market by collecting the sub-segment information.

2)Supply & Demand Approach

Supply approach is based on assessments of the size of each competitor supplying the objective market.

Demand approach combine end-user data within a market to estimate the objective market size. It is sometimes referred to as bottom-up approach.

  • Forecasting Methodology
  • Numerous factors impacting the market trend are considered for forecast model:
  • New technology and application in the future;
  • New project planned/under contraction;
  • Global and regional underlying economic growth;
  • Threatens of substitute products;
  • Industry expert opinion;
  • Policy and Society implication.
  • Analysis Tools

1)PEST Analysis

PEST Analysis is a simple and widely used tool that helps our client analyze the Political, Economic, Socio-Cultural, and Technological changes in their business environment.

  • Benefits of a PEST analysis:
  • It helps you to spot business opportunities, and it gives you advanced warning of significant threats.
  • It reveals the direction of change within your business environment. This helps you shape what you’re doing, so that you work with change, rather than against it.
  • It helps you avoid starting projects that are likely to fail, for reasons beyond your control.
  • It can help you break free of unconscious assumptions when you enter a new country, region, or market; because it helps you develop an objective view of this new environment.

2)Porter’s Five Force Model Analysis

The Porter’s Five Force Model is a tool that can be used to analyze the opportunities and overall competitive advantage. The five forces that can assist in determining the competitive intensity and potential attractiveness within a specific area.

  • Threat of New Entrants: Profitable industries that yield high returns will attract new firms.
  • Threat of Substitutes: A substitute product uses a different technology to try to solve the same economic need.
  • Bargaining Power of Customers: the ability of customers to put the firm under pressure, which also affects the customer's sensitivity to price changes.
  • Bargaining Power of Suppliers: Suppliers of raw materials, components, labor, and services (such as expertise) to the firm can be a source of power over the firm when there are few substitutes.
  • Competitive Rivalry: For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry.

3)Value Chain Analysis

Value chain analysis is a tool to identify activities, within and around the firm and relating these activities to an assessment of competitive strength. Value chain can be analyzed by primary activities and supportive activities. Primary activities include: inbound logistics, operations, outbound logistics, marketing & sales, service. Support activities include: technology development, human resource management, management, finance, legal, planning.

4)SWOT Analysis

SWOT analysis is a tool used to evaluate a company's competitive position by identifying its strengths, weaknesses, opportunities and threats. The strengths and weakness is the inner factor; the opportunities and threats are the external factor. By analyzing the inner and external factors, the analysis can provide the detail information of the position of a player and the characteristics of the industry.

  • Strengths describe what the player excels at and separates it from the competition
  • Weaknesses stop the player from performing at its optimum level.
  • Opportunities refer to favorable external factors that the player can use to give it a competitive advantage.
  • Threats refer to factors that have the potential to harm the player.
  • Data Sources
Primary Sources Secondary Sources
Face to face/Phone Interviews with market participants, such as:
Manufactures;
Distributors;
End-users;
Experts.
Online Survey
Government/International Organization Data:
Annual Report/Presentation/Fact Book
Internet Source Information
Industry Association Data
Free/Purchased Database
Market Research Report
Book/Journal/News

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