소형 모듈형 원자로 시장 : 유형, 정격 출력, 배치, 용도, 최종사용자 산업별 - 세계 예측(2025-2032년)

The Small Modular Reactor Market is projected to grow by USD 9.01 billion at a CAGR of 5.61% by 2032.

A concise framing of how small modular reactors shift energy system paradigms through modular manufacturing, regulatory evolution, and multi-vector industrial integration

Small modular reactors (SMRs) are progressing from concept and demonstration toward practical deployment as energy systems that promise to redefine conventional approaches to electricity, heat, and industrial process integration. They combine modular manufacturing principles with nuclear technology advances to reduce on-site construction complexity, shorten commissioning timelines, and enable scalable capacity additions for utilities, industrial operators, and remote applications. As governments accelerate decarbonization targets and seek resilient baseload and dispatchable low-carbon resources, SMRs are receiving renewed strategic focus as a complement to renewables rather than a substitute.

Beyond core engineering, the SMR ecosystem is maturing across regulatory frameworks, supply chain development, financing models, and siting strategies. Regulatory agencies are refining licensing pathways to accommodate modularity and factory-assembled components, while manufacturers are iterating designs to emphasize passive safety, simplified operations, and hybrid energy outputs such as district heating and hydrogen production. Taken together, these elements create a trajectory where SMRs can be deployed in a phased and risk-managed way, supporting both baseload needs and emerging industrial decarbonization requirements. This introduction sets the stage for an executive-level synthesis of structural shifts, tariff impacts, segmentation intelligence, regional dynamics, competitive positioning, and recommended actions for industry leaders seeking to navigate the coming decade.

How converging policy incentives, manufacturing industrialization, and hybrid-use innovations are catalyzing the rapid transformation of small modular reactor deployment pathways

The landscape for small modular reactors is undergoing transformative shifts driven by policy signals, technological maturation, and evolving commercial models. Public policy is a critical catalyst; new procurement pathways and incentives are aligning capital toward next-generation nuclear projects, while revised safety and licensing approaches reduce uncertainty for repeatable designs. Technological advances are delivering more compact core systems, enhanced passive safety features, and flexible balance-of-plant solutions that expand potential use cases beyond traditional baseload electricity generation.

Simultaneously, financing and contracting practices are adapting. Innovative contracting models-such as factory warranties, modular delivery milestones, and performance-based contracts-are emerging to reconcile long-term asset lifecycles with shorter manufacturing and construction horizons. The supply chain is also shifting from bespoke, on-site fabrication to industrialized manufacturing hubs capable of serial production, which in turn supports cost learning and quality control. In addition, integration with decarbonization priorities such as hydrogen production and industrial heat creates hybrid value streams that improve project economics and broaden investor appeal. Taken together, these shifts are creating an environment where SMRs evolve from niche demonstrations to scalable infrastructure enablers in diverse markets.

Assessing how cumulative trade measures and tariff dynamics are reshaping supply chain localization, procurement strategies, and risk mitigation for small modular reactor projects

Tariff actions implemented in recent years have produced a cumulative set of effects that are influencing supply chain strategies, sourcing decisions, and cost structures for small modular reactor projects. Tariffs on critical components and materials have incentivized developers and vendors to reassess near-term procurement plans and consider alternative suppliers, local content strategies, and vertical integration to reduce exposure to trade policy volatility. Where tariffs have increased the cost or complexity of cross-border shipments, stakeholders have prioritized localization of key manufacturing steps or established assembly hubs in tariff-favored jurisdictions to preserve delivery schedules and maintain predictable cost bases.

Moreover, tariffs have affected the competitive dynamics among technology vendors by altering relative cost positions and by motivating strategic partnerships to circumvent trade frictions. Developers are increasingly evaluating dual-sourcing frameworks and multi-region supply footprints to hedge geopolitical and tariff risks. At the project level, procurement teams are incorporating tariff scenarios into contractual terms and contingency allowances while engaging early with customs and trade advisors to optimize classification and duty mitigation. Regulatory approvals and intergovernmental cooperation are also being leveraged to facilitate tariff exemptions or favorable tariff treatment for critical energy infrastructure components. Consequently, the cumulative tariff environment is not only a near-term procurement challenge but also an accelerator for localized industrial capability and strategic supply chain redesign.

A multidimensional segmentation perspective explaining how reactor type, power rating, deployment mode, application, and end-user industry determine strategic choices and value propositions

Insightful segmentation analysis reveals how demand drivers, technical requirements, and commercial pathways differ across fundamental dimensions of the SMR landscape. Based on type, developers and end users select among fast neutron reactors, heavy-water reactors, high-temperature gas-cooled reactors, light-water reactors, and molten salt reactors depending on priorities such as fuel cycle flexibility, thermal output characteristics, and suitability for industrial heat or hydrogen production. Each technology family presents unique licensing considerations and supply chain profiles, which influence selection for specific use cases.

Based on power rating, project design choices and application suitability vary substantially across units sized below 100 megawatts, those in the 101-200 megawatt range, and units in the 201-300 megawatt band; smaller units often target remote or off-grid applications and incremental capacity additions, while mid-range units are designed for grid-integrated or industrial-scale services. Based on deployment, distinctions between grid-connected and off-grid installations guide integration strategies, cooling system choices, and operational modes, with off-grid projects placing a premium on autonomy, fuel logistics, and hybridization with storage or thermal loads. Based on application, use cases span desalination, district heating, electricity generation, hydrogen production, and industrial heat, with each end-use imposing different thermal pairing, regulatory, and economic conditions. Finally, based on end-user industry, the buyer landscape ranges across commercial, industrial, and public infrastructures and utilities; industrial deployments further differentiate by sector-chemical, manufacturing, mining, and oil and gas-each demanding tailored interface engineering, safety cases, and contractual structures. Understanding these segmentation layers is essential for aligning technology selection, commercial models, and deployment sequencing to end-user requirements.

A regional synthesis of how Americas, Europe Middle East & Africa, and Asia-Pacific dynamics shape deployment priorities, manufacturing hubs, and policy coordination for SMRs

Regional dynamics will be a central determinant of where and how small modular reactors materialize at scale. In the Americas, policy momentum in certain jurisdictions, combined with legacy nuclear supply chains and private sector investment appetite, creates fertile conditions for pilot deployments and the establishment of manufacturing cells. Public-private partnerships and state-level procurement strategies are shaping pathways to commercial demonstrations and initial series production, while regional electricity market structures influence whether SMRs prioritize grid services or industrial off-take.

In Europe, the Middle East & Africa, the landscape is heterogeneous; some markets are pursuing SMRs as a strategic tool for energy security and decarbonization, while others focus on industrial heat and desalination applications. Regulatory harmonization, cross-border cooperation, and intergovernmental financing mechanisms are increasingly important in this region to lower barriers for demonstration projects and to coordinate critical infrastructure investments. In the Asia-Pacific, robust industrial manufacturing capabilities, aggressive decarbonization targets in several economies, and a strong interest in hydrogen and district energy applications have combined to produce a vibrant development environment. Supply chain clustering and regional export opportunities are also prominent considerations in Asia-Pacific, where serial manufacturing and regional deployment corridors can unlock economies of scale. Taken together, these regional distinctions underline the need for market entry strategies that align technology choice, financing approaches, and regulatory engagement to local realities.

How established nuclear firms and agile newcomers are reshaping competitive positioning through partnerships, localized manufacturing, and integrated multi-vector offers

Competitive dynamics within the SMR ecosystem are evolving rapidly as established nuclear firms, emerging technology companies, and diversified engineering groups converge on commercial opportunities. Legacy incumbents are leveraging design experience, supply chain relationships, and regulatory familiarity to position incrementally modularized solutions, while a wave of new entrants is advancing novel core technologies and modular fabrication techniques to capture niche applications and to accelerate first-of-a-kind deployment timelines. Partnerships and strategic alliances between constructors, component fabricators, utilities, and industrial off-takers are increasingly common as stakeholders seek to combine technological capabilities with market channels and project funding.

Manufacturers that demonstrate repeatable factory processes and robust quality assurance regimes are gaining credibility with utilities and investors, and service providers that can deliver integrated operations, maintenance, and fuel cycle management propositions enhance total-cost confidence for buyers. In parallel, vendors are differentiating on hybrid offerings such as integrated hydrogen production loops and industrial heat interfaces, which expand addressable markets beyond pure power generation. Intellectual property strategies, localization commitments, and co-investment in domestic manufacturing facilities are also emerging as decisive competitive moves that influence procurement decisions and public-sector support. Consequently, competitive positioning increasingly reflects not only technical performance but also supply chain resilience, financing creativity, and the ability to deliver turnkey, multi-vector solutions.

Concrete strategic moves for technology developers, utilities, and industrial offtakers to industrialize SMR delivery through manufacturing readiness, regulatory engagement, and integrated commercial models

Industry leaders seeking to capture value in the SMR transition should adopt a decisive, multi-dimensional action plan that aligns technology strategy, commercial models, and operational readiness. First, prioritize design repeatability and manufacturability by investing in modular factory capabilities and rigorous quality systems to reduce schedule and execution risks; coupling these investments with clear localization strategies will enhance access to procurement incentives and mitigate tariff exposure. Second, pursue early engagements with regulators and system operators to define licensing pathways and grid integration requirements, thereby shortening permitting timelines and clarifying interface obligations for hybrid applications.

Third, structure commercial offers to include performance-based elements and flexible offtake arrangements that address the risk tolerances of utilities and industrial customers; bundling thermal outputs for hydrogen or district heating with electricity sales can create diversified revenue profiles. Fourth, establish supply chain partnerships and dual sourcing plans to de-risk critical components, while negotiating long-lead procurement and logistics strategies to manage trade policy exposure. Fifth, incorporate scenario-modeled risk assessments into project financing conversations to demonstrate resilience against policy shifts and tariff dynamics. Finally, invest in workforce training and operations readiness programs to ensure that deployments transition smoothly from factory acceptance into safe, efficient long-term operations. Collectively, these actions will position organizations to move from demonstration projects to repeatable commercial rollouts.

A robust methodological approach integrating primary interviews, secondary triangulation, scenario and sensitivity analyses, and case-study validation to derive actionable strategic insights

This analysis synthesizes primary and secondary research inputs to create a comprehensive view of technological, commercial, and policy dynamics shaping the SMR landscape. Primary research included structured interviews with senior executives across vendor firms, utilities, industrial end users, regulatory advisors, and supply chain specialists to capture first-hand perspectives on deployment barriers, design trade-offs, and procurement preferences. Secondary research encompassed peer-reviewed technical literature, public regulatory filings, policy statements, and company disclosures, which were triangulated with primary inputs to validate trends and project-level considerations.

Analytical methods applied scenario analysis to assess the implications of alternative regulatory, tariff, and financing pathways for supply chain strategies and deployment sequencing. Sensitivity analysis focused on procurement lead times, localization commitments, and hybridization revenue streams to evaluate how different assumptions alter project risk profiles. Where applicable, comparative case studies of demonstration projects and industrialized manufacturing models were used to extract transferable lessons for commercialization. Throughout the process, findings were stress-tested with subject-matter experts to ensure robustness and to reduce single-source bias. The methodology therefore combines qualitative insights with structured analytical frameworks to support strategic decision-making for stakeholders across the SMR value chain.

A conclusive synthesis emphasizing the conditions under which small modular reactors transition from demonstration to repeatable commercial infrastructure and competitive advantage

In conclusion, small modular reactors represent a credible pathway to expand low-carbon, dispatchable energy solutions while supporting industrial decarbonization through heat, hydrogen, and desalination applications. The intersection of policy support, technological maturation, and evolving financing frameworks is enabling a shift from one-off demonstrations to strategies that emphasize serial manufacturing and repeatable project delivery. However, successful commercialization will depend on the ability of developers and investors to manage supply chain exposure, navigate tariff environments, and adapt commercial models to diverse end-user requirements.

Looking ahead, stakeholders that combine strong regulatory engagement, localized manufacturing commitments, and flexible offtake strategies will be best positioned to translate technical promise into sustained deployment. Moreover, the greatest near-term opportunities will be in projects that leverage hybrid outputs, integrate with industrial clusters, and align with public-sector decarbonization objectives. Ultimately, the SMR transition will be incremental and path-dependent; those who invest early in manufacturing readiness, supply chain resilience, and customer-aligned commercial propositions will help define the trajectory of this emerging infrastructure class.

Table of Contents

1. Preface

• 1.1. Objectives of the Study
• 1.2. Market Segmentation & Coverage
• 1.3. Years Considered for the Study
• 1.4. Currency & Pricing
• 1.5. Language
• 1.6. Stakeholders

2. Research Methodology

3. Executive Summary

4. Market Overview

5. Market Insights

• 5.1. Integration of small modular reactors with renewable energy sources to balance grid flexibility and provide backup power
• 5.2. Harmonizing international regulatory frameworks to accelerate licensing and deployment timelines for SMR projects
• 5.3. Adoption of advanced digital twins and AI driven predictive maintenance systems to optimize SMR operational efficiency
• 5.4. Innovations in high assay low enriched uranium fuel designs enabling higher burnup rates and extended refueling intervals for SMRs
• 5.5. Offsite factory fabrication strategies and modular transport logistics driving cost reduction in SMR scalability and construction
• 5.6. Surge in private equity and infrastructure fund investments fueling early stage SMR development and commercialization activities
• 5.7. Expansion of public private partnerships facilitating first of a kind SMR demonstration plants and shared project risk models
• 5.8. Rising demand for microreactor variants of SMRs to provide reliable power solutions for remote industrial and defense applications
• 5.9. Integration of passive safety features and inherent shutdown mechanisms to meet evolving international nuclear safety standards for SMRs
• 5.10. Emergence of SMR power parks combining multiple modules with shared balance of plant systems to achieve economies of scale

6. Cumulative Impact of United States Tariffs 2025

7. Cumulative Impact of Artificial Intelligence 2025

8. Small Modular Reactor Market, by Type

• 8.1. Fast Neutron Reactors
• 8.2. Heavy-Water Reactors
• 8.3. High-Temperature Gas-Cooled Reactors
• 8.4. Light-Water Reactors
• 8.5. Molten Salt Reactors

9. Small Modular Reactor Market, by Power Rating

• 9.1. 101-200 MW
• 9.2. 201-300MW
• 9.3. Below 100 MW

10. Small Modular Reactor Market, by Deployment

• 10.1. Grid-Connected
• 10.2. Off-Grid

11. Small Modular Reactor Market, by Application

• 11.1. Desalination
• 11.2. District Heating
• 11.3. Electricity Generation
• 11.4. Hydrogen Production
• 11.5. Industrial Heat

12. Small Modular Reactor Market, by End-User Industry

• 12.1. Commercial
• 12.2. Industrial
  • 12.2.1. Chemical
  • 12.2.2. Manufacturing
  • 12.2.3. Mining
  • 12.2.4. Oil & Gas
• 12.3. Public Infrastructures & Utilities

13. Small Modular Reactor Market, by Region

• 13.1. Americas
  • 13.1.1. North America
  • 13.1.2. Latin America
• 13.2. Europe, Middle East & Africa
  • 13.2.1. Europe
  • 13.2.2. Middle East
  • 13.2.3. Africa
• 13.3. Asia-Pacific

14. Small Modular Reactor Market, by Group

• 14.1. ASEAN
• 14.2. GCC
• 14.3. European Union
• 14.4. BRICS
• 14.5. G7
• 14.6. NATO

15. Small Modular Reactor Market, by Country

• 15.1. United States
• 15.2. Canada
• 15.3. Mexico
• 15.4. Brazil
• 15.5. United Kingdom
• 15.6. Germany
• 15.7. France
• 15.8. Russia
• 15.9. Italy
• 15.10. Spain
• 15.11. China
• 15.12. India
• 15.13. Japan
• 15.14. Australia
• 15.15. South Korea

16. Competitive Landscape

• 16.1. Market Share Analysis, 2024
• 16.2. FPNV Positioning Matrix, 2024
• 16.3. Competitive Analysis
  • 16.3.1. ARC Clean Technology, Inc.
  • 16.3.2. AtkinsRealis Group Inc.
  • 16.3.3. Blykalla AB
  • 16.3.4. China National Nuclear Corporation
  • 16.3.5. General Atomics
  • 16.3.6. General Electric Company
  • 16.3.7. Holtec International
  • 16.3.8. Kairos Power
  • 16.3.9. Mirion Technologies, Inc.
  • 16.3.10. Mitsubishi Heavy Industries, Ltd.
  • 16.3.11. Moltex Energy Ltd.
  • 16.3.12. NANO Nuclear Energy Inc.
  • 16.3.13. NuScale Power Corporation
  • 16.3.14. Oklo, Inc.
  • 16.3.15. Rolls-Royce Holdings PLC
  • 16.3.16. Seaborg Technologies ApS
  • 16.3.17. Southern Company
  • 16.3.18. State Atomic Energy Corporation ROSATOM
  • 16.3.19. TerraPower LLC
  • 16.3.20. Terrestrial Energy Inc.
  • 16.3.21. ThorCon Power
  • 16.3.22. Toshiba Corporation
  • 16.3.23. Tractebel Group by Engie Group
  • 16.3.24. Westinghouse Electric Company LLC
  • 16.3.25. X Energy, LLC
  • 16.3.26. Electricite de France SA