소형 모듈 원자로와 첨단 원자력 시장

Small modular reactors (SMRs) may play an increasing role in the next decade, catalyzed by accelerated energy demand, particularly firm power with flexibility, and the continuing transition to decarbonize the energy system. While wind and solar are a growing proportion of the energy portfolio, there are fundamental constraints to these intermittent energy sources. Batteries can provide short term energy storage but are expensive and degrade over time. Conversely, SMRs enable 24/7 clean firm power, with minimal maintenance throughout the year. SMRs are scalable, comprised of modules that can be stacked together to match demand. Advanced reactor (AR) technology may have added use cases, such as producing industrial-level heat, flexibility to ramp up and down quickly, and even store energy like a large battery.

This report provides forecasts for SMR capacity additions and revenue from 2025 to 2034, and explains the technology's primary drivers and barriers. Forecasts are segmented by global regions (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), as well as technology type, size, location, and reactor iteration. Capacity is in megawatts of electricity, and revenue is in 2025 U.S. dollars. Revenue refers to the upfront costs associated with the reactor's siting, equipment and components procurement, and construction, as well as operation, maintenance, and fuel costs. The forecast has a high variance in any given year because of the large variance in reactor size and the limited number of SMRs in the inventory. The capacity number is the average of what happens in each year across 10,000 iterations, so numbers may not total to specific reactor capacities in the pipeline.

Table of Contents

1. Executive Summary

• 1.1 Market Introduction
• 1.2 Global Outlook

2. Market Issues

• 2.1 Introduction and Scope
• 2.2 Market Drivers
  • 2.2.1 Industrial and Digital Infrastructure Needs
  • 2.2.2 Modularity
  • 2.2.3 Renewed Favorable Public Opinion
  • 2.2.4 Flexibility and Load-Following Capabilities
• 2.3 Market Barriers
  • 2.3.1 High Costs and Uncertainty
    • 2.3.1.1 Paper Reactors Feed Uncertainty
    • 2.3.1.2 Rising Fuel Costs
  • 2.3.2 Regulatory and Licensing Hurdles
  • 2.3.3 Supply Chain Issues
    • 2.3.3.1 SMR Labor Constraints
    • 2.3.3.2 Geopolitical Supply Constraints
  • 2.3.4 Limited Demonstration Sites

3. Policy Review

• 3.1 Introduction
• 3.2 North America
  • 3.2.1 U.S.
  • 3.2.2 Canada
• 3.3 Europe
  • 3.3.1 UK
  • 3.3.2 France
• 3.4 Asia-Pacific
  • 3.4.1 Russia
  • 3.4.2 China
  • 3.4.3 Japan
  • 3.4.4 South Korea
• 3.5 Latin America and Middle East & Africa

4. Industry Value Chain

• 4.1 Nuclear Fuel Value Chain
• 4.2 Mining, Enrichment, and Fuel Fabrication Providers
  • 4.2.1 North America
  • 4.2.2 Europe
  • 4.2.3 Asia-Pacific
  • 4.2.4 Latin America
  • 4.2.5 Middle East & Africa
• 4.3 Equipment and Nuclear Component Providers
• 4.4 Developers

5. Market Forecasts

• 5.1 Methodology
• 5.2 Global Market Overview
  • 5.2.1 North America
  • 5.2.2 Europe
  • 5.2.3 Asia-Pacific
  • 5.2.4 Latin America and Middle East & Africa

6. Conclusions and Recommendations

• 6.1 Main Takeaways
• 6.2 Recommendations
  • 6.2.1 Developers
  • 6.2.2 Policymakers
  • 6.2.3 Regulators
  • 6.2.4 Investors

7. Acronym and Abbreviation List

8. Table of Contents

9. Table of Charts and Figures

10. Scope of Study, Sources, Methodology & Notes