Small Modular Reactor Construction Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Reactor Type, By Construction Type, By End-User, By Region, and By Competition, 2020-2030F
The Global Small Modular Reactor (SMR) Construction Market was valued at USD 6.26 Billion in 2024 and is projected to reach USD 9.34 Billion by 2030, growing at a CAGR of 6.74% during the forecast period. Small Modular Reactors are gaining momentum as a viable solution for delivering clean, safe, and reliable energy, especially amid the global transition to low-carbon power generation. These compact nuclear reactors, with capacities up to 300 megawatts, are designed for modular construction and factory assembly, offering shorter development timelines, scalability, and reduced upfront capital requirements compared to traditional nuclear plants. With rising electricity demand, grid modernization goals, and the pursuit of energy security, SMRs are becoming an integral part of long-term energy strategies in both developed and emerging regions. Countries including the United States, Canada, the UK, China, and Russia are actively investing in SMR projects for a range of applications-from civilian power generation to remote industrial use-strengthening the market outlook through government support, regulatory advancements, and technological innovation.
Market Overview
Forecast Period
2026-2030
Market Size 2024
USD 6.26 Billion
Market Size 2030
USD 9.34 Billion
CAGR 2025-2030
6.74%
Fastest Growing Segment
Boiling Water Reactor
Largest Market
North America
Key Market Drivers
Rising Electricity Demand and Grid Pressure
Global electricity demand is surging due to population growth, urbanization, and expanding digital infrastructure. This trend is placing strain on existing energy systems and driving the need for stable, low-carbon baseload power options. SMRs offer a scalable and flexible solution capable of supporting decentralized energy grids and accommodating future demand. For example, the electrification of transportation and growth in data center usage are significantly increasing electricity consumption, with projections showing a 50% rise by 2050. SMRs are well-positioned to support this growth, particularly in regions where traditional infrastructure expansion is not feasible. Their ability to be deployed near load centers helps minimize transmission losses while enhancing grid resilience and energy security.
Key Market Challenges
High Capital Investment and Financial Risk
Despite their modularity and compact footprint, SMRs still face significant cost barriers. The development of a single unit often involves capital expenditures ranging from USD 1 billion to USD 2 billion. Escalating project costs, such as those observed in NuScale's initial deployment plans, have raised concerns about financial predictability. Furthermore, the lack of commercial operating history and regulatory uncertainties increase perceived investment risk, especially among private financiers. The extended time horizon for project returns, combined with limited economies of scale unless multiple modules are constructed, makes SMRs a challenging proposition for stakeholders seeking short-to-medium-term ROI. These financial complexities continue to impede faster market uptake.
Key Market Trends
Surge in Floating and Remote SMR Deployments
Floating and remote SMRs are emerging as innovative solutions for areas with limited or no access to centralized power infrastructure. These deployments are especially attractive for industrial operations in remote regions, island nations, and military installations. Russia's floating SMR project, Akademik Lomonosov, and Canada's initiatives for Arctic and mining site energy supply demonstrate the practicality of such systems. These units can be transported via barge or road and offer dual capabilities in electricity and heat generation. Micro-SMRs, with capacities below 50 MW, are also being developed to cater to specific applications such as small communities and off-grid facilities. As energy resilience and logistical simplicity become strategic priorities, demand for mobile and off-grid SMR solutions is expected to grow steadily, potentially accounting for a significant share of global SMR installations by 2035.
Key Market Players
NuScale Power
TerraPower
Holtec International
Rolls-Royce SMR
X-energy
GE Hitachi Nuclear Energy
China National Nuclear Corporation
Rosatom
Framatome
BWX Technologies
Report Scope:
In this report, the Global Small Modular Reactor Construction Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Small Modular Reactor Construction Market, By Reactor Type:
Pressurized Water Reactor
Boiling Water Reactor
Fast Neutron Reactor
Molten Salt Reactor
Others
Small Modular Reactor Construction Market, By Construction Type:
New Build SMR Construction
Retrofit/Upgrade of Existing Nuclear Facilities
Small Modular Reactor Construction Market, By End-User:
Government & Defense
Private Energy Companies
Industrial & Commercial
Academic & Research Institutions
Small Modular Reactor Construction Market, By Region:
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
South America
Brazil
Argentina
Colombia
Asia-Pacific
China
India
Japan
South Korea
Australia
Middle East & Africa
Saudi Arabia
UAE
South Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Small Modular Reactor Construction Market.
Available Customizations:
Global Small Modular Reactor Construction Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. Global Small Modular Reactor Construction Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Reactor Type (Pressurized Water Reactor, Boiling Water Reactor, Fast Neutron Reactor, Molten Salt Reactor, Others)
5.2.2. By Construction Type (New Build SMR Construction, Retrofit/Upgrade of Existing Nuclear Facilities)
5.2.3. By End-User (Government & Defense, Private Energy Companies, Industrial & Commercial, Academic & Research Institutions)
5.2.4. By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)
5.3. By Company (2024)
5.4. Market Map
6. North America Small Modular Reactor Construction Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Reactor Type
6.2.2. By Construction Type
6.2.3. By End-User
6.2.4. By Country
6.3. North America: Country Analysis
6.3.1. United States Small Modular Reactor Construction Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Reactor Type
6.3.1.2.2. By Construction Type
6.3.1.2.3. By End-User
6.3.2. Canada Small Modular Reactor Construction Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Reactor Type
6.3.2.2.2. By Construction Type
6.3.2.2.3. By End-User
6.3.3. Mexico Small Modular Reactor Construction Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Reactor Type
6.3.3.2.2. By Construction Type
6.3.3.2.3. By End-User
7. Europe Small Modular Reactor Construction Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Reactor Type
7.2.2. By Construction Type
7.2.3. By End-User
7.2.4. By Country
7.3. Europe: Country Analysis
7.3.1. Germany Small Modular Reactor Construction Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Reactor Type
7.3.1.2.2. By Construction Type
7.3.1.2.3. By End-User
7.3.2. France Small Modular Reactor Construction Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Reactor Type
7.3.2.2.2. By Construction Type
7.3.2.2.3. By End-User
7.3.3. United Kingdom Small Modular Reactor Construction Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Reactor Type
7.3.3.2.2. By Construction Type
7.3.3.2.3. By End-User
7.3.4. Italy Small Modular Reactor Construction Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Reactor Type
7.3.4.2.2. By Construction Type
7.3.4.2.3. By End-User
7.3.5. Spain Small Modular Reactor Construction Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Reactor Type
7.3.5.2.2. By Construction Type
7.3.5.2.3. By End-User
8. Asia Pacific Small Modular Reactor Construction Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Reactor Type
8.2.2. By Construction Type
8.2.3. By End-User
8.2.4. By Country
8.3. Asia Pacific: Country Analysis
8.3.1. China Small Modular Reactor Construction Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Reactor Type
8.3.1.2.2. By Construction Type
8.3.1.2.3. By End-User
8.3.2. India Small Modular Reactor Construction Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Reactor Type
8.3.2.2.2. By Construction Type
8.3.2.2.3. By End-User
8.3.3. Japan Small Modular Reactor Construction Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Reactor Type
8.3.3.2.2. By Construction Type
8.3.3.2.3. By End-User
8.3.4. South Korea Small Modular Reactor Construction Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Reactor Type
8.3.4.2.2. By Construction Type
8.3.4.2.3. By End-User
8.3.5. Australia Small Modular Reactor Construction Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Reactor Type
8.3.5.2.2. By Construction Type
8.3.5.2.3. By End-User
9. Middle East & Africa Small Modular Reactor Construction Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Reactor Type
9.2.2. By Construction Type
9.2.3. By End-User
9.2.4. By Country
9.3. Middle East & Africa: Country Analysis
9.3.1. Saudi Arabia Small Modular Reactor Construction Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Reactor Type
9.3.1.2.2. By Construction Type
9.3.1.2.3. By End-User
9.3.2. UAE Small Modular Reactor Construction Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Reactor Type
9.3.2.2.2. By Construction Type
9.3.2.2.3. By End-User
9.3.3. South Africa Small Modular Reactor Construction Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Reactor Type
9.3.3.2.2. By Construction Type
9.3.3.2.3. By End-User
10. South America Small Modular Reactor Construction Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Reactor Type
10.2.2. By Construction Type
10.2.3. By End-User
10.2.4. By Country
10.3. South America: Country Analysis
10.3.1. Brazil Small Modular Reactor Construction Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Reactor Type
10.3.1.2.2. By Construction Type
10.3.1.2.3. By End-User
10.3.2. Colombia Small Modular Reactor Construction Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Reactor Type
10.3.2.2.2. By Construction Type
10.3.2.2.3. By End-User
10.3.3. Argentina Small Modular Reactor Construction Market Outlook