Nuclear reactors with a power output of less than 300MWe are small modular reactors (SMRs). SMRs have many advantages over traditional bulk nuclear reactors, including their smaller size and faster construction times. High production rate can be achieved because an SMR is fully assembled in a factory using module fabrication. Small Modular Reactors are still in the early stages of development. Only NuScale's Power Module, GE-BWRX Hitachi's 300, and Terrestrial Energy's Integral Molten Salt Reactor are currently in the advanced regulatory phase. SMRs can be installed underground or as a floating nuclear power plants. Modular reactors are primarily used to generate electricity, but they are also used in the desalination of seawater and process heating. SMRs can be installed underground or as a floating nuclear power plants. Modular reactors are primarily used to generate electricity, but they are also used to desalinate seawater and process heating. SMR designs promise energy that is affordable, safe, viable and does not emit greenhouse gases.
MARKET SCOPE
The "Global Small Modular Reactor Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the small modular reactor market with detailed market segmentation by reactor type, application, and geography. The report provides key statistics on the market status of the leading small modular reactor market players and offers key trends and opportunities in the market. application
MARKET SEGMENTATION
- Based on reactor type, the market is segmented into Heavy Water Reactor (HWR), Light Water Reactor (LWR), Fast Neutron Reactor (FNR), and others.
- Based on application, the market is segmented into desalination, power generation, and and process heat.
MARKET DYNAMICS
Drivers:
- The growing demand for electricity, as well as the flexibility of SMRs in terms of size and power output, are some of the factors driving the global small modular reactor market.
Restraints:
- The regulatory issues regarding deployment of SMRs may hinder the growth of the small modular reactor market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The small modular reactor market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social, and technological factors affecting the small modular reactor market in these regions.
IMPACT OF COVID-19 ON SMALL MODULAR REACTOR MARKET
The COVID-19 has slowed investments in small modular reactor technology and threatens to stifle the industry's progress toward commercialization. In the short term, the impact is most significant on the uranium supply side, as several mines and nuclear fuel cycle facilities have shut down due to health concerns. These reductions have taken place in many major uranium-mining countries, including Kazakhstan, Canada, and Namibia, which produce about two-thirds of the world's uranium. COVID-19 has also had an impact on reactor design and construction schedules. Small modular reactor design, licensing, and construction delays, combined with a drop in electricity demand, could negatively impact.
MARKET PLAYERS
The report covers key developments in the small modular reactor market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of the business and customer base of market players. The market players from the small modular reactor market are anticipated to have lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the small modular reactor market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ARC Clean Energy, Inc.
- Fluor Corporation
- General Atomics
- General Electric
- Holtec International
- NuScale Power, LLC.
- Rolls-Royce plc
- Terrestrial Energy Inc.
- WESTINGHOUSE ELECTRIC
- X Energy, LLC