According to the report, the global small modular reactor market (SMR) is expected to expand at a CAGR of 3.2% from 2025 to 2035. Small modular reactor market is in great demand, especially by clean, secure energy and increased energy security.
Growing interest in new nuclear technologies is transforming the world energy scenario, with Small Modular Reactors (SMRs) emerging as a main solution for clean and scalable power. The modular reactor market is expected to increase from USD 5.84 billion in 2024 to USD 8.28 billion in 2035, with growing at CAGR of 3.2%. SMRs with their modular design, factory fabricated, saves money and time on construction and provide advance safety. Their small size allows them to be used in rural and remote locations, providing smaller grids and decentralize energy supply.
SMR become a key driver to lower carbon emissions. These advanced reactors offer a low-carbon solution to fossil fuels, with consistent and reliable power generated with little environmental power impact.
The modular design of modular reactors is one of the important benefits driving their global adoption. Manufactured in regular factory conditions, such reactors are more efficient in quality, minimize labor-related inefficiencies, and lower project management risk.
"Trade Barriers & Cost Hurdles: SMRs Face Crosswinds on the Path to Clean Energy Leadership"
The Small Modular Reactor (SMR) market is facing challenges even as solution for clean energy. The added challenges of trade tensions and regulations uncertainty infrastructure needs, and adoption, complicated engineering, highly specialized infrastructure needs, and adoption. Tariffs on foreign reactor components, supply chain disruptions, and diplomatic tensions between major players such as the U.S., China and Russia are increasing costs and slowing projects. These challenges are especially face in emerging markets where cost-conscious energy choices prefer low cost, faster-return options such as natural gas or renewables.
Prominent players operating in the global small modular reactor (SMR) market include State Atomic Energy Corporation Rosatom, Westinghouse Electric Company, MITSUBISHI HEAVY INDUSTRIES, LTD., GE Hitachi Nuclear Energy, AtkinsRealis, Rolls-Royce plc, NuScale Power, LLC., ULTRA SAFE NUCLEAR, Terrestrial Energy Inc., Moltex Energy, X-Energy, LLC., Holtec International, General Atomics, Kairis Power, KEPCO Engineering & Construction Company, Inc., Toshiba Energy Systems & Solutions Corporation, and Among Others.
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