Small Modular Reactor Market Analysis

Application (Chemical & Petrochemical, Food & Beverages, Mining & Metals, Automotive, Oil & Gas, Power) 

The global small modular reactor market is segmented and analyzed for demand and supply by application into chemical & petrochemical, food & beverages, mining & metals, automotive, oil & gas, power, and others. Out of the seven applications of the small modular reactor, the power segment is estimated to gain the largest market share in the year 2037. The growth of the segment can be attributed to the increasing demand for electricity. According to the International Energy Agency, after declining by roughly 1% in 2020 owing to the effects of the Covid-19 pandemic, worldwide. however, owing to the recovery of the global economy, the electricity demand climbed by nearly 5% and 4% in 2021 and 2022, respectively. In order to suffice this increasing demand, small modular reactors are been used for the production of electricity. These reactors can produce electricity with low carbon-emission. SMRs can be constructed in low time and it's more cost-effective than nuclear reactors, and they can be implemented sequentially in order to meet rising energy demand. Small modular reactors (SMRs) are advanced nuclear reactors that can produce up to 300 MW(e) of power per unit.

Reactor (HWR, LWR, HTR, FNR, MSR)

The global small modular reactor market is also segmented and analyzed for demand and supply by reactor into HWR, LWR, HTR, FNR, and MSR. Amongst these five segments, the HWR (heavy water reactor) segment is expected to garner a significant share in the year 2037. The growth of the segment is attributed to the high efficiency of this moderator. This type of reactor has a high amplification factor and minimal fuel consumption. Moreover, control is significantly easier than with other varieties since no control rods are necessary. On the other hand, segment growth is also expected on the account of a rise in the number of HWR installations. Out of the total 529 reactors in the world, around 36 are heavy water reactors.The moderator can be held at a low temperature, which boosts its efficiency in slowing neutrons.

Our in-depth analysis of the global small modular reactor market includes the following segments: