Small Modular Reactors Market Size Expected To Reach $ 11.3 Billion …
(MENAFN – GetNews) The global small modular reactors market is projected to reach $ 11.3 billion by 2026, up from an estimated $ 9.7 billion in 2021, with a CAGR of 3.2% over the forecast period. The low cost of SMRs due to the modularization and factory building are driving the market for small modular reactors.
According to the new market research report ” Small Modular Reactors Market By Reactor (HWR, LWR, HTR, FNR, MSR), Deployment (Single, Multi), Connectivity (Grid, Off-Grid), Location (Land, Marine), Application (Power Generation, Desalination, Process Heat) ) and Region – Global Forecast to 2026 The small modular reactor market is projected to reach $ 11.3 billion by 2026% over the forecast period. The market for small modular reactors has promising growth potential due to the low cost of SMRs due to modularization and factory building. The global market for small modular reactors is driven by the growing need for clean, reliable, and flexible power generation and helps with integration with variable renewable energy.
Search through 135 market data tables and 43 figures on 213 pages and a detailed table of contents on the topic of “Market for Small Modular Reactors – Global Forecast to 2026”
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The light water reactor segment is expected to dominate the small modular market by reactor type during the forecast period.
The light water reactors use ordinary water as a coolant and are the most widespread type because they have the lowest technological risks. Light water reactors are the most widely used SMR technology due to its high technological maturity and ease of licensing as regulators and developers are familiar with this technology. These factors are expected to drive the market for this segment over the forecast period.
The multi-module power plant segment is expected to be the fastest growing small modular reactor Market, after provision, during the forecast period.
It is estimated that the multi-module power plant segment will grow the fastest after the small modular reactors market is deployed during the forecast period. The growth of this segment will be driven by the simple financing of additional units of SMRs, resulting in savings in serial production. Additional modules can be added to the SMR system, reducing upfront investment and capital risk, resulting in lower financial costs. In addition, multi-module power plants help avoid long downtimes due to aggregate maintenance and enable staggered refueling.
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Asia Pacific is likely to become the largest market for small modular reactors
In this report, the Small Modular Reactors Market has been analyzed for four regions namely America, Europe, Asia-Pacific and Middle East & Africa. The growth of the Asia-Pacific market is being driven by increasing investment in the use of SMRs in countries such as China and Japan. In China, for example, various SMR designs such as the CAP200, ACP100, ACPR50S and HTR-PM are being developed for land and marine use. In addition, the increase in opportunities for SMR deployment in areas with isolated and small grid systems such as coastal, island and offshore areas is expected to fuel the growth of the small modular reactor market in that region.
To provide a deeper understanding of the competitive landscape, the report includes the profiles of some of the top players in the world Small Modular Reactor Market .
Some of the key players are General Electric-Hitachi Nuclear Energy (USA), Moltex Energy (Canada), NuScale Power (USA), Terrestrial Energy (Canada) and Westinghouse Electric (USA). The leading players are pursuing various strategies to increase their share of the Small Modular Reactors market.
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