The latest report by Meticulous Research®, titled "Small Modular Reactors Market by Type, Coolant, Deployment Mode, Fuel Type, Application, and Geography — Global Forecast to 2030," projects that the small modular reactors (SMR) market will reach $6.14 billion by 2030, growing at a CAGR of 2.4%. This growth is largely driven by the increasing use of SMRs for power generation, government efforts to promote decarbonization, and a growing demand for reliable nuclear power. The report also identifies regulatory challenges and licensing issues as potential hindrances to market growth.

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The SMR market is segmented into reactor type, coolant, deployment mode, fuel type, and application. Among the reactor types, light-water reactors are expected to hold the largest share in 2024, due to their efficiency and versatility in both moderating and cooling nuclear fission reactions. This segment is also expected to grow the fastest.

Water-based coolants are anticipated to dominate the market in 2024, thanks to their role in efficiently transferring heat from the reactor core and maintaining pressure levels. This segment is projected to register the highest growth rate through 2030.

For deployment modes, land-based SMR installations are expected to hold the largest market share in 2024, due to their lower maintenance costs and enhanced safety protocols. Nevertheless, marine-based deployments are projected to achieve the highest growth rate during the forecast period, driven by increasing demand for clean energy solutions in coastal and offshore areas, where SMRs can provide a flexible and sustainable power source.

In terms of fuel type, uranium is expected to be the dominant choice in 2024, largely due to its effectiveness in generating low-carbon, large-scale electricity. The uranium segment is projected to grow significantly during the forecast period, reflecting a broader global shift toward nuclear energy as a reliable power source.

When examining applications, the power generation sector is anticipated to dominate the small modular reactors market by 2024. The rising need for carbon-free electricity, combined with the growing efficiency of nuclear power plants, supports the prominence of this segment. It is also expected to witness the highest CAGR during the forecast period as industries and governments increasingly favor nuclear energy for sustainable power generation.

Geographically, the Asia-Pacific region is projected to lead the small modular reactors market in 2024. This growth is attributed to significant deployments of SMRs in coastal and island regions, alongside the integration of renewable energy sources. The demand for reliable, low-carbon energy solutions in this region further supports its growth trajectory, making it a focal point for SMR investments.

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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