Meticulous Research®—a leading player in global market research—has published a new report titled, ‘Small Modular Reactors Market by Type (Light-water Reactors, High-temperature Reactors), Coolant (Water, Liquid Lead), Deployment Mode, Fuel Type (Uranium), Application (Power Generation, Desalination) and Geography — Global Forecast to 2030.’

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According to Meticulous Research®’s latest report, the small modular reactors (SMRs) market is forecasted to reach $6.14 billion by 2030, growing at a CAGR of 2.4% during the forecast period. The market is driven by increased adoption of SMRs for power generation, rising government initiatives on decarbonization, and the growing demand for dependable and versatile nuclear power. However, stringent regulatory policies and standards pose challenges to market expansion.

Additionally, the focus on achieving net zero emissions and advancing decarbonization is expected to create significant growth opportunities. The absence of a standardized licensing process, however, presents a notable challenge for industry players. The current trend in the market is a rising demand for clean and reliable energy sources.

The market is segmented into reactor type, coolant type, deployment mode, fuel type, application, and geography. This segmentation allows for an in-depth analysis of industry competitors and market dynamics at regional and national levels. The report covers light-water reactors, heavy-water reactors, high-temperature reactors, fast neutron reactors, molten salt reactors, and fast breeder reactors.

Among reactor types, light-water reactors are projected to hold the largest market share in 2024. This segment’s prominence is attributed to its efficiency in generating energy from water and its role as both a moderator and a coolant. The light-water reactors segment is also expected to experience the highest CAGR during the forecast period.

Regarding coolant types, the water segment is expected to lead the market in 2024. The demand for water as a coolant is due to its essential role in transferring heat from the reactor core to steam turbines and managing core pressures. The water segment is projected to register the highest CAGR during the forecast period.

In terms of deployment modes, land-based SMR deployments are forecasted to be the largest segment in 2024, owing to their safety, security, and lower maintenance costs. However, marine-based deployments are expected to exhibit the highest CAGR, driven by the need for affordable, carbon-free energy and cleaner, more flexible solutions.

For fuel types, uranium is forecasted to lead the market in 2024. The high demand for uranium is due to its ability to generate large-scale low-carbon electricity and its role in nuclear fission. This segment is also projected to achieve the highest CAGR during the forecast period.

In the application segment, power generation is expected to dominate in 2024, driven by the need for substantial amounts of carbon-free electricity, low fuel costs, and enhanced efficiency. The power generation segment is also expected to grow at the highest CAGR during the forecast period.

Geographically, Asia-Pacific is predicted to hold the largest market share for small modular reactors in 2024, followed by Europe, North America, Latin America, and the Middle East & Africa. Asia-Pacific’s significant market share is due to the presence of key SMR players, increasing deployments in coastal and offshore areas, and a growing demand for low-carbon, reliable, and flexible power solutions. This region is also expected to register the highest CAGR during the forecast period.

Key Players:
The key players operating in the small modular reactors market include Brookfield Asset Management Inc. (Canada), Fluor Corporation (U.S.), General Electric Company (U.S.), Holtec International (U.S.), Mitsubishi Heavy Industries, Ltd. (Japan), Rolls-Royce plc (U.K.), Terrestrial Energy Inc. (Canada), X Energy, LLC (U.S.), Westinghouse Electric Company LLC (U.S.), Kairos Power (U.S.), TerraPower, LLC (U.S.), Toshiba Energy Systems & Solutions Corporation (Japan), ARC Clean Technology, Inc. (Canada), and Leadcold (Sweden), and General Atomics (U.S.).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/small-modular-reactors-market-5512

Key questions answered in the report-
• Which are the high-growth market segments based on type, coolant type, deployment mode, fuel type, application, and geography?
• What was the historical market for small modular reactors?
• What are the market forecasts and estimates for the period 2024–2030?
• What are the major drivers, restraints, opportunities, challenges, and trends in the small modular reactors market?
• Who are the major players, and what shares do they hold in the small modular reactors market?
• How is the competitive landscape in the small modular reactors market?
• What are the recent developments in the small modular reactors market?
• What are the different strategies adopted by the major players in the small modular reactors market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the small modular reactors market, and how do they compete with the other players?

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