The global Small Modular Reactor (SMR) market is projected to grow at a CAGR of 8.8% by 2035
The Small Modular Reactor (SMR) Market Report 2025-2035 (Including Impact of U.S. Trade Tariffs): This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Decarbonization and the Global Shift Toward Clean Energy
The growing urgency to reduce greenhouse gas emissions and meet international climate goals has placed nuclear energy, particularly Small Modular Reactors (SMRs), at the center of the global clean energy transition. SMRs offer a low-carbon alternative to fossil fuels while providing stable baseload power, making them an attractive option for countries aiming to decarbonize their power sectors. With the Intergovernmental Panel on Climate Change (IPCC) emphasizing the critical need to limit global warming to 1.5°C, SMRs are being viewed as a key component in achieving net-zero targets. Their scalability and smaller footprint make them ideal for supplementing renewable energy sources, especially in regions where grid stability and land availability are concerns. This growing recognition is translating into policy support, investment incentives, and the inclusion of nuclear power in green taxonomies, significantly driving SMR deployment.
Regulatory Uncertainty and Lengthy Licensing Processes
One of the most significant challenges hindering the commercialization of SMRs is the lack of harmonized and streamlined regulatory frameworks across global markets. Nuclear regulation is inherently complex and highly country-specific, often resulting in prolonged approval timelines, even for advanced and standardized designs. While some countries like the U.S. (via the Nuclear Regulatory Commission) and Canada (via the Canadian Nuclear Safety Commission) have made early progress in reviewing and approving SMR technologies,Aisuch as NuScale's VOYGR design,Aimost nations lack clear pathways for licensing these new reactors. In addition, international export regulations, nuclear liability laws, and public safety protocols further complicate cross-border deployments. The absence of globally accepted standards slows down deployment and increases compliance costs for developers, posing a major bottleneck to large-scale SMR adoption.
What would be the Impact of US Trade Tariffs on the Global Small Modular Reactor (SMR) Market?
The introduction or escalation of U.S. trade tariffs on critical components and materials for small modular reactors (SMRs) is expected to have varied effects on the global small modular reactor market, depending on the recovery trajectory of global supply chains and economic conditions. As small modular reactors rely on high-tech components such as pressure vessels, control systems, specialized steel, and nuclear-grade fuels, any disruption in cost or availability of these imports can significantly affect project timelines, investment flows, and deployment strategies across regions. The impact of tariffs will also be influenced by the resilience of domestic manufacturing, the presence of strategic partnerships, and the pace of regulatory approvals.
What Questions Should You Ask before Buying a Market Research Report?
- How is the small modular reactor (SMR) market evolving?
- What is driving and restraining the small modular reactor (SMR) market?
- How will each small modular reactor (SMR) submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2035?
- How will the market shares for each small modular reactor (SMR) submarket develop from 2025 to 2035?
- What will be the main driver for the overall market from 2025 to 2035?
- Will leading small modular reactor (SMR) markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2035 and which geographical region will lead the market in 2035?
- Who are the leading players and what are their prospects over the forecast period?
- What are the small modular reactor (SMR) projects for these leading companies?
- How will the industry evolve during the period between 2025 and 2035? What are the implications of small modular reactor (SMR) projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the small modular reactor (SMR) market?
- Where is the small modular reactor (SMR) market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
You need to discover how this will impact the small modular reactor (SMR) market today, and over the next 10 years:
- Our 415-page report provides 127 tables and 196 charts/graphs exclusively to you.
- The report highlights key lucrative areas in the industry so you can target them - NOW.
- It contains in-depth analysis of global, regional and national sales and growth.
- It highlights for you the key successful trends, changes and revenue projections made by your competitors.
- Forecasts to 2035 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2035, our new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising small modular reactor (SMR) prices and recent developments.
Segments Covered in the Report
- By Deployment
- Land-based Plant
- Marine-based Plant
- By Design
- Twin Reactor Design
- Other Reactor Design
- Integral Reactor Design
- By Coolant Type
- Molten Salt Reactors (MSR)
- Gas-Cooled Reactors (GCR)
- Liquid Metal Reactors (LMR)
- Other Coolant Type
- By Type
- Pressurized Water Reactor (PWR)
- Pressurized Heavy Water Reactor (PHWR)
- High-Temperature Reactor (HTR)
- Fast Neutron Reactor (FNR)
- Other SMR Type
- By End-Use
- Power Generation
- Desalination
- Process Heat Supply
- Industrial Applications
- District Heating
- Other End-Uses
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 25 leading national markets:
- North America
- U.S.
- Canada
- Europe
- Russia
- UK
- France
- Luxembourg
- Sweden
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- South East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- GCC
- South Africa
- Rest of MEA
The report also includes profiles and for some of the leading companies in the Small Modular Reactor (SMR) Market, 2025 to 2035, with a focus on this segment of these companies' operations.
- Leading companies profiled in the report
- Bharat Heavy Electricals Limited
- BWX technologies, Inc
- China National Nuclear Corporation (CNNC)
- Framatome
- GE Hitachi Nuclear Energy
- General Atomics (GA)
- Mitsubishi Heavy Industries, Ltd
- NuScale Power, LLC
- NUWARD
- Rolls-Royce SMR
- Rosatom Group
- Terrestrial Energy Inc
- Toshiba Energy Systems & Solutions Corporation
- Westinghouse Electric Corporation
- X Energy, LLC
Overall world revenue for Small Modular Reactor (SMR) Market, 2025 to 2035 in terms of value the market will surpass US$64,406.2 million in 2025, our work calculates. We predict strong revenue growth through to 2035. Our work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.
- How will the Small Modular Reactor (SMR) Market, 2025 to 2035 report help you?
- In summary, our 410+ page report provides you with the following knowledge:
- Revenue forecasts to 2035 for Small Modular Reactor (SMR) Market, 2025 to 2035, with forecasts for deployment, design, coolant type, type and end-use, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2035 for five regional and 25 key national markets - See forecasts for the Small Modular Reactor (SMR) Market, 2025 to 2035 in North America, Europe, Asia Pacific, Latin America, and MEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, Russia, Luxembourg, Sweden, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Small Modular Reactor (SMR) Market, 2025 to 2035.
- Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.