Vancouver, BC -- (SBWire) -- 03/18/2021 --The global Small Modular Reactor (SMR) Market is forecasted to be worth USD 10.42 Billion by 2027, according to a new report by Emergen Research. The growing interest in a small modular reactor is fueled by the need to reduce the impact of capital cost and provide power separate from a large power grid. There is a growing demand for smaller and simpler units for the generation of energy from nuclear power, which is driving the demand for small module reactors.
Based on the types, the Small Modular Reactor market has been further classified based on geography, application and consumption capability. On the basis of the product application, the industry is bifurcated taking into consideration those in demand and are an outcome of technology advancement. Region-wise, the performance of the industry along with the prominent vendors operating in the geography also illuminates stakeholders, business owners, and field marketing, executives. The different facets of the business based on parameters including new launches, acquisition and mergers and new entrants are discussed extensively during the study.
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This report on the global Small Modular Reactor Market equips the reader with all essential tools to decipher their standing in the industry based on the growth of revenue or sales. It provides a comprehensive evaluation of the global Small Modular Reactor market from various perspectives to deliver a detailed, informative, and precise analysis of regional growth, competition, and market segmentation, among other factors. Moreover, it also gives an accurate account of the significant breakthroughs and developments that influence the global Small Modular Reactor market. It also focuses on both the global as well as the regional expansion of the Small Modular Reactor industry to give an overall analysis.
Key Highlights From The Report
In August 2020, the Bill Gates-backed nuclear innovation firm, TerraPower in partnership with GE Hitachi Nuclear Energy launched Natrium, a new small modular reactor system paired with a molten salt storage unit. The product can be used to power 345-megawatt SMR to around 500 megawatts up to five hours.
In the integral pressurized water reactor, the primary circuit components are placed inside the reactor pressure vessel, which eliminates the need for primary circuit pipework, which enhances the safety and reliability of the technology.
A multi-module plant or power station is composed of multiple nuclear power modules where each module is operated safely independent of each other. The modules are located in a common building structure and can be physically impacted by any event happening at another module due to close proximity and lack of physical barriers.
Small module reactors are extensively used to power end users who require a significant amount of energy, such as large water treatment or purification plants and mines. Remote areas find it difficult to find an economical, efficient, and reliable energy source. SMR provides a solution to these isolated areas. They also have a load-following design, so that they can conserve energy when demand is low.
North America held a significant share of 30.8% in 2019. The bulk of the demand is from the United States. The country is taking a keen interest in developing the nuclear industry, and major focus has been on the development of SMR to replace coal-fired power plants. The implementation of strict regulations to safeguard against air pollution is driving the demand for SMR in the country.
Key participants include Bechtel Corporation, Holtec International, General Electric Hitachi Nuclear Energy, Toshiba International Corporation, Mitsubishi Heavy Industries Ltd., General Atomics, Rolls Royce Plc, Nuclear Power Corporation of India Limited (NPCIL), China National Nuclear Corporation (CNNC), and Shanghai Nuclear Engineering Research and Design Institute Co., Ltd. (SNERDI), among others.
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Key questions answered by the report
At what rate will the Small Modular Reactor market grow? What will be the value of the market in 2027?
What would be the impact on Small Modular Reactor in the Asia Pacific region?
What is the key application of Small Modular Reactor?
What are the future growth strategies adopted by market players?
The investigative approach applied for the extensive analysis of the sale, gross margin and profit generated by the industry are presented through resources including tables, charts, and graphic images. Importantly, these resources can be easily integrated or used for preparing business or corporate presentations.
Regional scope: - North America; Europe; Asia Pacific; Central & South America; MEA
Type Outlook (Revenue, USD Billion; 2017-2027)
Pressurized water reactor (PWR)
Pressurized heavy water reactor (PHWR)
High-temperature reactor (HTR)
Fast neutron reactor (FNR)
Other (MST, Integral PWR)
Deployment Outlook (Revenue, USD Billion; 2017-2027)
Single Module Plant
Multi-Module Plant
Application Outlook (Revenue, USD Billion; 2017-2027)
Power Generation
Desalination
Process Heat
Other Industrial Uses
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The publication also dedicates individual chapters to various segments present in the market and the related sub-segments. In this study, our analysts provide historical revenues along with the estimated revenues for all the sectors. Sales of products and the evolution of end-users have also been inspected in this research report. The chapter on geographical analysis assesses the regional markets. It takes an in-depth view of the volatile socio-political conditions, weather fluctuations, and annual budgets of nations to determine their effect on the global market.
Research Methodology
Data triangulation and market breakdown
Research assumptions Research data including primary and secondary data
Primary data includes breakdown of primaries and key industry insights
Secondary data includes key data from secondary sources
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Small Modular Reactor Market Segmentation & Impact Analysis
Chapter 5. Small Modular Reactor Market By Product Type Insights & Trends, Revenue (USD Million)
Chapter 6. Small Modular Reactor Market By Application Insights & Trends Revenue (USD Million)
Chapter 7. Small Modular Reactor Market By End-Users Insights & Trends Revenue (USD Million)
Chapter 8. Small Modular Reactor Market Regional Outlook
Continued…
Small Modular Reactor Market Business Scenario, Size, Share, Growth, Insights, Industry Analysis, Trends and Forecasts Report 2027
The study methodologies used to examine the Small Modular Reactor market for the forecast period, 2020 - 2027 further classifies the industry by type, geography, end-use and end-user to add more precision and bring to light factors responsible for augmenting business development.