NuScale Power announced the equity investment by Samsung C&T Corporation for supporting the installation of a small modular reactor. Along with this, Fluor Corporation joined this conjunction to expand the opportunities for future deployment of the reactors and complete the construction of the Barakah Plants in South Korea.
Terrestrial Energy announces the collaboration with Aecon Group for supporting the engineering and construction of the integration molten salt generation IV reactor power plant (ISMR). Aecon is going to evaluate Terrestrial Energy's construction costs and schedules for IMSR
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 4846
Published Date: Apr 24, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing demand for electricity, rising setup and investment of small modular reactors, and the rising need to reduce carbon emission are the major factors driving the market growth.
The market size of small modular reactor is anticipated to attain a CAGR of 5.7% over the forecast period, i.e., 2023-2035.
Lack of standard procedures for licensing, lack of standard design of the SMR, and need for cheap electricity production are estimated to be the growth hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
The major players in the market are ARC Clean Energy, Brookfield Asset Management, Inc., Fluor Corporation, General Electric International, Inc., Nuscale Power, LLC, Rolls-Royce plc, TerraPower LLC, Terrestrial Energy, Inc., Toshiba Energy Systems & Solutions Corporation, and X Energy LLC.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by reactor, connectivity, location, operation, application, and by region.
The power segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.