Small Modular Reactor Market Forecast

Regional Forecast:

North America:

The small modular reactor market in North America is driven by the United States and Canada. In the U.S., there is growing interest in SMRs as a means to achieve energy security and reduce greenhouse gas emissions. The government has been supportive of SMR development, with funding provided for research and demonstration projects. Canada, with its vast uranium reserves and expertise in nuclear technology, is also a key player in the SMR market.

Asia Pacific:

In Asia Pacific, countries such as China, Japan, and South Korea are investing heavily in small modular reactors. China, in particular, has ambitious plans for SMR deployment to meet its growing energy demands while reducing reliance on coal. Japan and South Korea, both traditional nuclear powerhouses, see SMRs as an opportunity to enhance grid resilience and energy diversification.

Europe:

In Europe, the United Kingdom, Germany, and France are leading the way in small modular reactor development. The UK has established itself as a pioneer in SMRs, with several projects in the pipeline. Germany is exploring SMRs as a way to transition away from coal and reduce carbon emissions. France, with its extensive nuclear expertise, sees SMRs as a potential export opportunity.