According to Markntel Advisors Report, Small Modular Reactors Market is expected to grow at a significant growth rate, and the analysis period is 2025-2030, considering the base year as 2024.Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
Small Modular Reactors (SMRs) are nuclear fission reactors used for nuclear energy generation. They are usually much smaller than traditional reactors and have an electrical power output of less than 300MW. Apart from their standard use for power generation, these reactors are also deployed for industrial applications such as desalination of water & process heating.
Global Small Modular Reactors Market Research Report & Summary:
The Global Small Modular Reactor Market is projected to grow at a CAGR of around 14% during the forecast period, i.e., 2025-30. The growth of the market is likely to be driven primarily by the rapidly growing demand for SMRs in several applications for their flexible power generation capabilities.
With increasing levels of carbon emissions and the rising government focus across different countries on reducing dependency on fossil fuels, SMRs are witnessing an increasing demand for energy production using natural resources like wind & solar and, in turn, driving the global market.
Time Period Captured in the Report:
- Historical Years: 2020-2023
- Base Years: 2024
- Forecast Years: 2025-2030
Besides, growing awareness among several end-user industries about the benefits of SMRs like low to medium capital investment and small area consumption due to their compact size is another prominent aspect contributing to their surging need globally. SMRs offer higher safety, are an excellent alternative to fossil fuels, and generate a high energy rate owing to their development in controlled factory environments through the module fabrication process.
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- In May 2020, Akademik Lomonosov, the world's first-ever floating nuclear power plant, got commissioned in Pevek, Chukotka (Russia), which harbors two 35 MW(e) KLT40S SMR units generating enough energy to cater to the power requirements of around 100 000 people.
Furthermore, with the growing urbanization, power requirements are mounting rapidly and infusing the demand for clean electricity generation. Hence, governments of different countries are utilizing SMRs & exercising their benefits and, in turn, contributing to the global expansion of the Small Modular Reactor Market.
Who are the Key Players Operating in the Small Modular Reactors Market?
The top companies of the Small Modular Reactors Market ruling the industry are:
Advanced Reactor Concepts, LLC, Bechtel Corporation, China National Nuclear Corporation (CNNC), General Atomics, General Electric Hitachi Nuclear Energy, Holtec International, Mitsubishi Heavy Industries Ltd, Nuclear Power Corporation of India Limited (NPCIL)
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What is Included in Small Modular Reactors Market Segmentation?
The Small Modular Reactors Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
-By Reactor Type
-Light Water Reactor- Market Size & Forecast 2020-2030, USD Million
-Pressurized Heavy Water Reactor- Market Size & Forecast 2020-2030, USD Million
-High-Temperature Reactor- Market Size & Forecast 2020-2030, USD Million
-Fast Neutron Reactor- Market Size & Forecast 2020-2030, USD Million
-Others (Molten Salt Reactor, Integral Pressurized Water Reactor, etc.) - Market Size & Forecast 2020-2030, USD Million
-By Deployment
-Single Module- Market Size & Forecast 2020-2030, USD Million
-Multi-Module- Market Size & Forecast 2020-2030, USD Million
Explore the Complete Small Modular Reactors Market Analysis Report – https://www.marknteladvisors.com/research-library/small-modular-reactors-market.html
-By Application
-Desalination- Market Size & Forecast 2020-2030, USD Million
-Power Generation- Market Size & Forecast 2020-2030, USD Million
-Process Heat- Market Size & Forecast 2020-2030, USD Million
-By Region
-North America
-South America
-Europe
-Middle East & Africa
-Asia-Pacific
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