United States Small Modular Reactor Market 2025: Industry Developments, Future Growth, Share & Industry Insights | Nuscale Power, Terrestrial Energy, Moltex Energy, X-Energy, Holtec International

Global Small Modular Reactor Market was worth US$ 5.72 billion in 2023 and is estimated to reach US$ 6.48 billion by 2031, growing at a CAGR of 1.6% during the forecast period 2024-2031.

DataM Intelligence has published a new research report on "⁦Small Modular Reactor Market Size 2025". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

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Key Players: Westing House Electric, Nuscale Power, Terrestrial Energy, Moltex Energy, X-Energy, Holtec International, General Atomics, Arc Clean Energy, Rolls-Royce and Lead-Cold Reactors.

USA - Industry Latest News:

✅ 29 May 2025 - NRC approves NuScale Power's updated 77 MWe SMR design (standard/design approval milestone that upgrades NuScale's prior 50 MWe model).

✅ 5 Jun 2025 - Holtec announces plans to restart Palisades site and install two SMR-300 units (plans toward a large North-American SMR fleet and targeting first units by 2030).

✅ (Apr-May 2025) - US DOE funding and policy actions continue to support Gen-III+ SMR licensing and demonstration programs (DOE grants and program funding to support designs such as Westinghouse AP300, NuScale, Holtec, etc.).

✅ 2025 (ongoing) - Corporates & cloud providers deepen commercial partnerships with advanced SMR firms (examples: deals/agreements to source nuclear-backed grid power and collaborate on SMR deployments).

Japan - Industry Latest News:

✅ 9 May 2025 - Hitachi-GE/Hitachi announces it will supply key reactor components for the GE Vernova / BWRX-300 unit at Ontario Power Generation's Darlington New Nuclear Project (demolition/construction milestone in May 2025). Hitachi-GE is leveraging its BWR experience to support SMR projects abroad.

✅ 8 May 2025 - Construction commencement announced for the Darlington BWRX-300 project (GE Vernova / Hitachi partnership advancing the BWRX-300). (This is a major supplier / deployment milestone involving Japanese industry participation.)

Korea (Republic of Korea) - Industry Latest News:

✅ 25 Aug 2025 (signed MoU reported in 2025) - X-energy, Amazon, Korea Hydro & Nuclear Power (KHNP) and Doosan Enerbility sign a strategic partnership to scale deployment of X-energy Xe-100 advanced reactors and TRISO-X fuel (covers US deployments and supply-chain manufacturing roles for Korean firms). - notable Korea-industry participation in international SMR rollouts.

✅ 2025 (ongoing) - KHNP / KAERI continue SMART / SMART-derived SMR development and international cooperation (exports, MOUs and technical exchanges), with Doosan and other Korean OEMs lining up to supply components and manufacturing capability.

Europe (UK + continental) - Industry Latest News:

✅ 10 Jun 2025 - UK selects Rolls-Royce SMR as the preferred technology for its Great British Nuclear SMR programme; government pledged £2.5 bn to kickstart the programme. This is a major European program pick (procurement & industrialisation signal).

✅ 2025 (throughout year) - GE Vernova / BWRX-300 also progressing GA/UK GDA/European project discussions and bids in Central/Eastern Europe (Darlington build provides technology momentum for EU projects).

Product launches / technical milestones:

✅ 29 May 2025 - NuScale 77 MWe design approval (NRC) - design milestone that improves unit output/economics vs earlier model.

✅ 8-9 May 2025 - GE Vernova / BWRX-300: Darlington New Nuclear Project publicly advanced (supply agreements and component supply from Hitachi-GE).

✅ June 2025 - Rolls-Royce SMR selected for UK national SMR program (procurement / product development acceleration).

✅ 2025 (H1) - Holtec publicly pursuing SMR-300 deployments at Palisades and other US sites; plan includes manufacturing partnerships and multi-GW fleet ambition.

✅ Jan 2025 - NANO Nuclear completes acquisition and rebrands the Micro Modular Reactor portfolio (KRONOS MMR) after acquiring Ultra Safe Nuclear's patented MMR / Pylon technology - notable microreactor IP M&A.

Mergers & acquisitions:

✅ 24 Dec 2024 / 13 Jan 2025 - NANO Nuclear Energy (NNE) executed and closed an acquisition of Ultra Safe Nuclear Corp.'s patented Micro Modular Reactor (MMR) and Pylon transportable reactor technologies (deal announced 24-Dec-2024; closed / rebrand news in Jan-2025). This is an important IP consolidation in the micro/MR space.

✅ 2025 (ongoing) - several strategic partnerships and equity investments (e.g., Doosan's partnerships and investments with X-energy; supply-chain MOUs between Korean firms and US advanced SMR projects) mostly strategic alliances rather than outright buyouts.

Growth Forecast Projected:

The Global ⁦Small Modular Reactor Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global ⁦Small Modular Reactor Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

By Reactors (Light-water Reactor, Heavy-water Reactor, High-temperature Reactor, Others)

By Connectivity (Off-grid, Grid-connected)

By Location (Land, Marine)

By Deployment (Multi-module Power Plant, Single-module Power Plant)

By Application (Power Generation, Desalination, Process Heat, Industrial, Hydrogen Production)

By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa)

Regional Analysis for Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among ⁦Small Modular Reactor producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze ⁦Small Modular Reactor revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ's

Q1: What is the current size of the ⁦Small Modular Reactor Market ?

A: The ⁦Small Modular Reactor Market stood at US$ 5.72 billion in 2023 and is set to experience remarkable growth, reaching US$ 6.48 billion by 2031

Q2: How fast is the ⁦Small Modular Reactor Market growing ?

A: The Market is on an impressive growth trajectory, expected to expand at a CAGR of 1.6% from 2024 to 2031

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