Small Modular Reactor Market Set for 24% CAGR to 2030 Driven by Rapid Decarbonization Mandates and Off-Grid Industrial Heat Demand, Says Mordor Intelligence
HYDERABAD, India, Dec. 9, 2025 /PRNewswire/ -- According to Mordor Intelligence, the globalsmall modular reactor market, in terms of installed capacity, is projected to increase from 312.5 MW in 2025 to 912.5 MW by 2030, growing at a CAGR of 23.9% over the forecast period 2025–2030. This growth is being fueled by rapid decarbonization mandates and rising demand for off-grid industrial heat. Momentum is further boosted by factory-built SMR designs that cut construction time and capital costs, as well as tighter energy-security policies. Governments increasingly view SMRs as dependable, low-carbon power sources to complement renewables, while industrial users are turning to them for clean and efficient process heat.
Emerging Trends & Developments:
Strong Demand Emerging for Off-Grid Industrial Heat
Industries aiming to reduce their direct emissions are increasingly turning to reactors that can supply both high-temperature heat and electricity in one solution. Companies in chemicals and heavy manufacturing are exploring how SMRs could be integrated into their facilities, while mining operations in remote locations are drawn to their ability to replace diesel-based systems. These premium heat applications offer stronger margins and help offset the higher costs associated with nuclear technologies, creating broader revenue opportunities within the SMR market.
Decarbonization Mandates Accelerate SMR Market Momentum
As companies push toward ambitious net-zero goals, many are turning to nuclear energy to secure dependable, carbon-free baseload power that complements their expanding clean-energy portfolios. The global commitment to scale up nuclear capacity is already encouraging more firms to explore direct partnerships with advanced reactor developers, reflecting a shift away from traditional utility-led procurement.
Factory-Based Builds Reduce Financial Risk
Moving reactor construction from open sites to controlled manufacturing facilities helps address historical cost overruns in nuclear projects. Standardized production, parallel construction activities, and repeatable supply chains are improving project efficiency, even as vendors balance global sourcing with national content requirements.
Segmentation Overview:
By Reactor Type
- Water-cooled (land-based and marine-based)
- High-temperature gas-cooled
- Molten salt
- Fast neutron spectrum
- Micro-reactors
By Application
- Grid-connected power
- Off-grid and remote electrification
- Industrial process heat and steam
- Desalination and district heating
- Defense and military bases
By End-User Sector
- Utilities and independent power producers (IPPs)
- Industrial and petrochemical companies
- Mining and remote operations
- Government and defense
- Research institutions
By Geography
- North America
- United States
- Canada
- Europe
- United Kingdom
- France
- Italy
- Sweden
- Denmark
- Switzerland
- Poland
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- Indonesia
- Rest of Asia-Pacific
- South America
- Argentina
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
For a full breakdown of small modular reactor market size, segmentation data, and competitive intelligence, access all details of the Mordor Intelligence report at: https://www.mordorintelligence.com/industry-reports/small-modular-reactor-smr-market?utm_source=prnewswire
Geographical Insights:
Europe is shaping up as the quickest-moving growth hub, driven by coordinated policymaking and cross-border collaboration. Joint programs among EU members are spreading development risk, standardizing reactor choices, and helping speed up regulatory approvals, particularly in Central and Northern Europe.
North America progress remains steady but cautious. Regulatory milestones and early construction approvals signal confidence in the technology, yet higher labor expenses and layered regulatory systems slow wider rollout. Elsewhere, Latin America and the Middle East and Africa are still in early stages, with progress closely tied to external funding and technical support.
Explore Energy and Power Industry Reports - https://www.mordorintelligence.com/market-analysis/energy-power?utm_source=prnewswire
Small Modular Reactor (SMR) Companies:
- NuScale Power
- Rolls-Royce SMR
- TerraPower
- Rosatom & JSC OKBM
- X-energy
- GE Hitachi Nuclear Energy
- Holtec International
- BWX Technologies
- Mitsubishi Heavy Industries
- China National Nuclear Corp. (CNNC)
- Korea Atomic Energy Research Institute (KAERI)
- EDF-NUWARD
- Ontario Power Generation
- Candu Energy (SNC-Lavalin)
- Ultra Safe Nuclear Corp.
- Westinghouse eVinci
- Fluor Corp.
- AtkinsRealis (formerly SNC-Lavalin)
- Ansaldo Nucleare
- KEPCO E&C
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