Vancouver, BC -- (SBWIRE) -- 03/19/2021 -- 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.

The population explosion has led to massive demand in electricity, and the growing need for efficient usage of energy systems has led to the utilization of nuclear energy. Nuclear energy is a source of clean and reliable energy and provides a platform for the deployment of a small module reactor. SMRs are advantageous as there is no need for on-site manufacturing and thus reduces the overall cost and increases efficiency. They are useful in remote areas for the generation of power.

Small modular reactors provide ample growth opportunities in the coming years. The advanced small modular reactors are under development in various sizes, capabilities, technology options, and deployment. They have a relatively smaller physical footprint and can be sited to different locations. It also provides distinct security and safeguards options, which will drive the demand for the product.

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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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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All of the segments studied in the research study are analyzed on the basis of BPS, market share, revenue, and other important factors. Our research study shows how different segments are contributing to the growth of the global Small Modular Reactor market. It also provides information on key trends related to the segments included in the report. This helps market players to concentrate on high-growth areas of the global Small Modular Reactor market. The research study also offers separate analysis on the segments on the basis of absolute dollar opportunity.

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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Important the study on the Small Modular Reactor market takes a closer look at the top market performers and monitors the strategies that have enabled them to occupy a strong foothold in the market. Performance of the product and services across different segments and geography are thoroughly assessed during the research. Apart from this, the research brings to light real-time data about opportunities that will completely transform the trajectory of the business environment in the coming years.

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Table of Content
Chapter 1. Small Modular Reactor Market Methodology & Sources
1.1. Small Modular Reactor Market Definition
1.2. Small Modular Reactor Market Research Scope
1.3. Small Modular Reactor Market Methodology
1.4. Small Modular Reactor Market 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. Small Modular Reactor Market Key Insights
Chapter 4. Small Modular Reactor Market Segmentation & Impact Analysis
Chapter 5. Small Modular Reactor Market By Products Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
Chapter 6. Small Modular Reactor Market By Types Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
Chapter 7. Small Modular Reactor Market By Applications Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Chapter 8. Small Modular Reactor Market By End Use Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Chapter 9. Small Modular Reactor Market Regional Outlook
Chapter 10. Competitive Landscape
Continued…