Small Modular Reactor Market Size to Reach USD 18.8 Billion by 2030 at CAGR 15.8% - Valuates Reports

BANGALORE, India, Dec. 10, 2021 /PRNewswire/ -- The Small Modular Reactor Market is Segmented by Reactor Type [Heavy Water Reactor (HWR), Light Water Reactor (LWR), Fast Neutron Reactor (FNR), and Others], and Application (Desalination, Power Generation, and Process Heat). The report covers global opportunity analysis and industry forecasts from 2021 to 2030.

The global small modular reactor market was valued at USD 3.5 Billion in 2020 and is projected to reach USD 18.8 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 15.8%.

Major Factors Driving The Growth Of The Small Modular Reactor Market Are:

The small modular reactor market is likely to expand as more emphasis is placed on providing nuclear energy to small remote power grids, lowering the capital and operating costs connected with nuclear power facilities. Several nuclear reactor manufacturers are working on novel designs and improving the fuel economy of existing modular reactors.

The growing demand for electricity, as well as the flexibility of SMRs in terms of size and power output, are further fueling the global small modular reactor market.

Governments all across the world want to see SMRs fully deployed in order to lessen their reliance on fossil fuels. The ongoing COVID-19 has increased the pace of market advancements by focusing more on nuclear energy technology, which in turn is expected to drive the growth of the Small Modular Reactor Market.

Get your sample today: https://reports.valuates.com/request/sample/ALLI-Manu-3B68/Small_Modular_Reactor_Market

Trends Influencing The Growth Of The Small Modular Reactor Market :

The global small modular market is likely to increase during the forecast period due to the comparably cheap cost and time required for building the unit. Furthermore, as compared to a wind or solar farm, SMR-based power facilities will take up a relatively smaller area, resulting in a small footprint. Older generation nuclear reactors are vast in size and need a significant amount of capital and construction time. Nuclear reactors are challenging to deploy in areas far from power grid systems. As a result, putting up a nuclear reactor in remote areas is not practical, paving the way for the creation of smaller nuclear reactors.

Small Modular Reactor market growth is being driven by the increasing need for flexible power generation. SMRs are seen as a very promising alternative for providing both baseload and flexible operations in conjunction with renewables to assure supply security with carbon-free energy systems as the percentage of intermittent renewable energy grows on all continents. This trend is expected to further boost the small module reactor market. SMRs can run at high capacity while also satisfying the demand for production rate flexibility and creating energy services, ancillary services, and low-carbon co-products when SMRs and renewable energy are combined into a single energy system and connected through smart grids.

Global efforts to reduce carbon emissions are expected to further boost the small modular reactor market throughout the forecast period. The world is transitioning from a fossil-fuel-based energy system to a net-zero-emission energy system, with nuclear energy playing a key role. The changeover will aid in the mitigation of climate change and environmental protection. There is a growing demand for clean and reliable energy generation all around the world, which has sparked interest in SMR technology. In addition, enhancing nuclear energy's role in electricity production through a combination of upgraded reactors and thermal energy storage will aid in emission reduction. During the projected period, all of these aspects are expected to provide new chances for the global market.

The pandemic has slowed investments in small modular reactor technologies and threatens to stifle the industry's progress toward commercialization. In the immediate term, the impact is greatest on the uranium supply side, as several mines and nuclear fuel cycle facilities have halted operations due to health concerns. During the projection period, delays in small modular reactor design, licensing, and construction, as well as a decline in electricity demand, could have a detrimental impact on SMR development.

Browse the Table of Contents and List of figures at: https://reports.valuates.com/reports/ALLI-Manu-3B68/small-modular-reactor

Small Modular Reactor Market Share Analysis:

Because of the presence of well-established SMR producers such as NuScale Power and General Electric, the United States accounted for the highest small modular reactor market share in 2020 and is also the fastest expanding region.

The power generation segment accounted for the greatest small modular reactor market share in 2020 and is expected to increase at the highest CAGR of 16.3 percent over the small modular reactor market forecast period.

Report Customization Request: https://reports.valuates.com/request/customisation/ALLI-Manu-3B68/Small_Modular_Reactor_Market

Key players engaged in the small modular reactor industry include Brookfield, Fluor Corporation, General Atomics, General Electric, Holtec International, Mitsubishi Heavy Industries, Rolls Royce Plc, TerraPower LLC, Terrestrial Energy, and X Energy LLC. Agreement was the key strategy adopted by players such as Rolls Royce and General Electric.

Chapter Cost Request: https://reports.valuates.com/request/customisation/ALLI-Manu-3B68/Small_Modular_Reactor_Market

Buy Now for Single User + Covid-19 Impact : https://reports.valuates.com/api/directpaytoken?rcode=ALLI-Manu-3B68&lic=single-user

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

SIMILAR REPORTS

-  The global nuclear power plant and equipment market accounted for USD 36,484 Million in 2017 and is anticipated to generate revenue of USD 49,038 Million by 2025, growing at a CAGR of 3.7% from 2018 to 2025.

-  In 2020, the global Glass Lined Reactor market size was USD 589 Million and it is expected to reach USD 787.9 Million by the end of 2027, with a CAGR of 4.2% during 2021-2027.

-  The global virtual power plant market was valued at USD 1.3 Billion in 2019 and is projected to reach USD 5.9 Billion by 2027, growing at a CAGR of 21.3% from 2020 to 2027.

-  Global Micro Nuclear Reactors (MNRs) Market Size, Status and Forecast 2021-2027

-  Global and United States Pilot Scale Reactors Market Insights, Forecast to 2027

-  Global Micro-reactor Market Research Report 2021

-  Global Anode Saturable Reactor Market Research Report 2021

-  Global DC Smoothing Reactor Sales Market Report 2021

-  Global Titanium Reactor Market Research Report 2021

-  Nuclear Power Reactor Decommissioning Market Size, Status and Forecast 2021-2027

-  Global Biopellet Reactor Media Sales Market Report 2021

-  Global Nuclear Reactor Market Size, Status and Forecast 2021-2027

To see the full list of related reports on the Small Modular Reactor

ABOUT US:

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs. 

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains detail research methodology employed to generate the report, Please also reach to our sales team to get the complete list of our data sources

CONTACT US:
Valuates Reports
sales@valuates.com
For U.S. Toll-Free Call  +1-(315)-215-3225
For IST Call  +91-8040957137
WhatsApp : +91 9945648335
Website: https://reports.valuates.com
Follow on Twitter - https://twitter.com/valuatesreports
Follow on Linkedin - https://in.linkedin.com/company/valuatesreports
Follow on Facebook - https://www.facebook.com/valuatesreports

Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg