The report projects the small modular reactor market to reach $18.8 billion by 2030, up from $3.5 billion in 2020.
According to the findings, there are multiple factors driving this growth.
The research group says small modular reactors are likely to expand as the market emphasizes providing nuclear energy to small remote power grids, lowering the capital and operating costs for nuclear power facilities. Several nuclear reactor manufacturers are working on novel designs and improving the fuel economy of existing modular reactors.
