Small Modular Reactor Market Share, Size, Trends, Industry Analysis Report, By Type (Thermal-neutron Reactors, Fast Reactors), By Technology (Cooling, Thermal,/Electrical Generation, Staffing, Load Following), By Deployment, By Application; By Region; Seg

Small Modular Reactor Market Share, Size, Trends, Industry Analysis Report, By Type (Thermal-neutron Reactors, Fast Reactors), By Technology (Cooling, Thermal,/Electrical Generation, Staffing, Load Following), By Deployment, By Application; By Region; Segment Forecast, 2022 - 2030

The global small modular reactor market size is expected to reach USD 13.0 billion by 2030 according to a new study by Polaris Market Research. The report “Small Modular Reactor Market Share, Size, Trends, Industry Analysis Report, By Type (Thermal-neutron Reactors, Fast Reactors), By Technology (Cooling, Thermal,/Electrical Generation, Staffing, Load Following), By Deployment, By Application; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Significant growth factors of the industry consist of a growing focus towards decarbonization of the energy sector to attain net-zero goals, increasing reliability and flexibility of nuclear power, as well as the growing demand for energy across the globe are the few factors projected to drive the industry growth during the forecast period.

Based on the connectivity segment, the off-grid segment is witnessing a leading stake in the global industry. This is due to the off-grid SMRs are compact and well-suited for remote locations that provide a clean and flexible replacement to fossil-fuel power generation. As a result, the off-grid segment plays a prominent role in the demand for SMR, which is expected to grow at a significant rate globally. However, the off-grid segment is also projected to grow at the fastest CAGR during the forecast period.

Based on geography, Asia-pacific is projected to lead the industry in terms of revenue share around the globe, owing to the rising government support to promote decarbonization strategies to lessen greenhouse gas emissions.