Small Modular Reactors (SMR): Market Strategies, Market Forecasts 2025 to 2050

1.1 U.N. Climate Change Conference COP28
1.2 SMR Development
1.3 Liquid Metal Cooled Fast Reactors
1.4 SMR Market Driving Forces
1.5 SMR Types
1.6 SMR Naval Units
1.7 Microsoft SMR

2.1 Manufacturing Small Modular Reactors (SMRs)
2.1.1 Small Modular Reactors (SMRs) Are Proven Technology
2.1.2 Small Modular Reactors (SMRs) Are Disruptive Technology
2.1.3 Nuclear Is Going Small
2.1.4 SMR Market Driving Forces
2.2 SMR Market Participants
2.2.1 NuScale Exit From Contract
2.3 SMR Market Forecasts
2.3.1 Renewable Energy Does Not Complete The Task Of Generating Noncarbonized Power
2.3.2 By 2050 the SMR market is $368.9 trillion per year
2.3.3 Steam Turbine Manufacturers
2.3.4 Getting Renewable Energy Integrated With The Grid, Achieving Interconnect Status With The Transmission System
2.3.5 Thousands of SMRs Need To Be Built
2.3.6 SMR Hydrogen Technology
2.4 SMR Regional Analysis
2.4.1 United States
2.4.2 UK
2.4.3 China
2.4.4 Russia
2.4.5 Japan
2.4.6 Belgium
2.4.7 Germany
2.4.8 Spain
2.5 The Economics of SMR Nuclear
2.6 Economics of Scale: Small Modular Reactor Nuclear Power

3.1 Small Modular Reactors (SMR) Bring Energy Dense Solutions
3.2 NRC Current Licensing Reviews of New Reactors
3.3 Fast Reactors
3.4 Sodium-Cooled Fast Reactor (SFR)
3.4.1 Sodium-Cooled Fast Reactor
3.5 Sodium Liquid Metal Coolant Issues
3.6 Heat Pipe Technology
3.7 Lead Liquid Metal Coolant
3.7.1 Advantages of Lead in Fast Reactors
3.7.2 Lead Coolant Disadvantages
3.7.3 Pure Lead Metal Coolant
3.7.4 Westinghouse Lead-Cooled Fast Reactor (LFR)
3.8 Engineering Barriers to Prevent the Uncontrolled Release of Radioactive Nuclides
3.9 US SMR Pre-Applications for a Construction Permit
3.10 Number of SMR Reactor Designs and Development Efforts Worldwide
3.10.1 Rolls-Royce SMR
3.11 Uranium Silicide Fuel
3.12 Components of a Nuclear Reactor
3.13 Micro Reactor
3.14 Interconnection Costs Present Renewable Energy Barriers: Local Nuclear Projects Market Advantage
3.15 Global Warming

4.1 SMR Safety, Operational, And Economic Benefits
4.1.1 SMR Safety
4.1.2 Resident Inspector Training
4.1.3 Integrated Nuclear Power Plant Supervision System (SISC)
4.1.4 GE Hitachi's BWRX-300 SMR Reactor Nuclear Safety
4.2 SMR Small Size Advantages
4.3 SMR Fuel Safety
4.3.1 Fuel Based Safety
4.3.2 Nuclear Fuel Innovation
4.4 Sodium Issues
4.5 Ultra Safe Nuclear Micro Modular Reactor (MMR) Fully Ceramic Microencapsulated (FCM®) Fuel

5.1 Argonne National Labs
5.2 Areva
5.3 Betavolt
5.4 BWXT Advanced Technologies
5.5 GE / Hitachi Nuclear Energy
5.5.1 TVA Joining International Consortium with GE Hitachi, Canada-based Ontario Power Generation, and Poland's Sythos Green Energy
5.5.2 GE Hitachi Ontario Power Generation Contract for North American Small Modular Reactor
5.5.3 GE / Hitachi Nuclear Energy
5.5.4 GE Hitachi Nuclear Energy Company Description
5.5.5 Hitachi Nuclear Energy
5.6 Holtec
5.7 Idaho National Laboratory Makes Commercial Grade HALEU Fuel for Testing
5.7.1 Manufacturing HALEU Fuel Pellets
5.7.2 Idaho National Laboratory HALEU Fuel Pellets Testing with General Electric
5.8 Kairos Power
5.9 Last Energy
5.10 Moltex Energy
5.11 NuScale
5.11.1 NuScale Power - Utah Associated Municipal Power Systems (UAMPS) Terminates Agreement
5.11.2 Acquisition of NuScale by Chubu
5.12 OKLO
5.13 TerraPower
5.13.1 TerraPower
5.13.2 TerraPower Partners
5.14 Terrestrial Energy
5.14.1 Integral Molten Salt Reactor: Carbon-free, Low-cost, High-impact. Flexible and Resilient.
5.15 U.S. Nuclear Regulatory Commission
5.15.1 NRC SMR Pre-Application Activities
5.16 Paragon
5.17 Westinghouse Electric Company
5.17.1 Demand For Westinghouse Large Reactors Is Still Robust Outside the U.S.
5.17.2 Westinghouse SMR AP300
5.17.3 Westinghouse’s eVinci
5.17.4 eVinci Passive Safety
5.17.5 AP300 SMR Application Versatility
5.17.6 Westinghouse Large Components For Nuclear Power Plants
5.17.7 Westinghouse Acquisition by Brookfield and Cameco
5.18 Foro Nuclear
5.19 Rolls-Royce
5.20 Taylor Devices
5.21 U-Battery
5.22 Ultra Safe Nuclear
5.22.1 Micro Modular Reactor (MMR) Energy System MMR from Ultra Safe Nuclear
5.22.2 Ultra Safe Nuclear Fully Ceramic Micro-Encapsulated (FCM) Fuel
5.22.3 Ultra Safe Nuclear Corporate Operations
5.23 x-Energy
5.23.1 X-Energy Description
5.33.2 X-Energy Partners and Projects
5.33.3 X-Energy Corporate Structure / Ares Acquisition Corporation
5.33.4 X-Energy Nuclear Energy Xe-100 Advanced Modular Technology:
5.33.5 X-Energy Nuclear Energy Xe-100 Fuel
5.33.6 X-Energy’s Business Model
5.33.7 X-Energy Experienced and Innovative Team
5.34 Spanish Nuclear Equipment Companies
5.35 Fast Neutron Reactor Status Current FNRs, Curent Sodium Coolant
5.36 Selected Small Nuclear Reactor Descriptions
5.36.1 ARC-100 Sodium Cooled, Fast-Flux, Pool-Type Reactor
5.36.2 GE Hitachi BWRX-300 BWR (Boiling Water Reactor): United States
5.36.3 GE Hitachi Small Modular Reactors Use Light-Water Reactor Technology
5.36.4 CAREM Pressurized Water Reactor (PWR): Argentina
5.36.5 Copenhagen Atomics Single-Fluid, Heavy Water Moderated, Fluoride-Based, Thermal Spectrum And Autonomously Controlled Molten Salt Reactor: Denmark
5.36.6 Elysium Industries Molten Chloride Salt, Fast Reactor
5.36.7 Encapsulated Nuclear Heat Source (ENHS) Uses Lead (Pb) or Lead-Bismuth (Pb-Bi) Coolant: United States
5.36.8 Flibe Energy Liquid Fluoride Thorium Molten Salt Reactor: United States
5.36.9 HTR-PM High-Temperature Gas-Cooled: China
5.36.10 Hyperion Power Module (HPM) Pb-Bi Coolant: United States
5.36.11 Terrestrial Energy Integral Molten Salt Reactor (IMSR): Canada
5.36.12 International Reactor Innovative & Secure (IRIS): United States
5.36.13 Modified KLT-40: Russia Floating Nuclear Power Station
5.36.14 Last Energy Pressurized Water Reactor: United States
5.36.15 mPower: United States
5.36.16 NuScale: United States
5.36.17 OPEN100 Transcorp Energy of Nigeria:
5.36.18 Pebble Bed Modular Helium Reactor (PBMR): South Africa
5.36.19 GE Purdue Modular Reactor (NMR): United States
5.36.20 General Atomics Gas Cooled Reactor (Gas Turbine Modular Helium Reactor (GTMHR))
5.36.21 Rolls-Royce SMR
5.36.22 Toshiba Sodium (Na) Cooled Reactor 4S Reactor Design
5.36.23 Molex Stable Salt Reactor (SSR): United Kingdom
5.36.24 Bill Gates TerraPower and GE Hitachi Nuclear Energy Sodium Fast Reactor
5.36.25 TerraPower Team Traveling Wave Reactor (TWR): United States
5.36.26 Terrestrial Energy Integral Molten Salt Fission Technology
5.36.27 Westinghouse AP300 Single-Loop Pressurized Water Reactor SMR
5.36.28 Westinghouse Transportable eVinci™ Micro Reactor High-Temperature Heat Pipe
5.36.29 BN-800, BN-600 Reactor Sodium-Cooled Fast Breeder Reactor: Russia
5.36.30 Sodium-cooled reactors have included:

Figure 1. SMR Nuclear Energy Equipment Applications
Figure 2. SMR Nuclear Energy Advantages
Figure 3. Westinghouse eVinci™ Microreactor
Figure 4. Next Generation SMR Reactor Product Safety Criteria
Figure 5. Small Modular Reactors, SMR, Market Forecast 2040-2050
Figure 6. COP28 (United Nations Climate Summit)
Figure 7. TerraPower Sodium Liquid Metal Cooled Reactor (LMCR)
Figure 8. Liquid Metal Fast Reactors: Lead And Sodium Aspects
Figure 9. Nuclear SMR Market Driving Forces
Figure 10. Need for proven SMR technology
Figure 11. SMR Types
Figure 12. Ford Moel T Source: Ford.
Figure 13. Ford Assembly Line Revolutionized the Transportation Industry, by Automating Manufacturing
Figure 14. Bill Gates TerraPower Building Next-Generation Nuclear Power
Figure 15. Definitions of SMR Modularity
Figure 16. SMR Market Driving Forces
Figure 17. Naval Nuclear Propulsion - BWX Technologies
Figure 18. Rolls-Royce SMR
Figure 19. Small Modular Reactors Selected Market Participants, Worldwide, 2025
Figure 20. Nuclear Medical - BWX Technologies
Figure 21. Naval Nuclear Propulsion - BWX Technologies
Figure 22. Rolls-Royce Nuclear Space Micro-Reactor Concept Model
Figure 23. Small Modular Reactors, SMR, Market Forecast 2025-2029
Figure 24. Small Modular Reactors, SMR, Market Forecast 2030-2039
Figure 25. Small Modular Reactors, SMR, Market Forecast 2040-2050
Figure 26. Number of SMRs Installed in US and China 2025 to 2050, Forecast
Figure 27. Number of SMRs Installed in Worldwide 2025 to 2050, Forecast
Figure 28. Number of SMRs Installed by Country, 2025 to 2029, Forecast
Figure 29. Dollar Value of SMRs Shipped by Country, 2030 to 2040, Forecast
Figure 30. Number of SMRs Installed by Country, 2030 to 2040, Forecast
Figure 31. SMR Regulatory / Licensing, Supply Chain, Resourcing, And Financing Hurdles To Moving Projects From Planning To Project Roll-Out
Figure 32. SMR Regional Market Segments, Dollars, Worldwide, 2030
Figure 33. Regional Analysis SMR Forecasts, 2030
Figure 34. Air Pollution in Beijing
Figure 35. Natrium Demonstration Project Team: Nuclear Companies That Provide Supply Chain And Operational Expertise to TerraPower
Figure 36. Nuclear Power in the United Kingdom
Figure 37. Staff receive instructions at China’s Fuqing Nuclear Power Plant
Figure 38. Characteristics of SMR
Figure 39. U.S. Nuclear Regulatory Commission (NRC) New Licensing Applications for LightWater Reactors and Non-Light Water Reactors
Figure 40. Operating Stability of SFRs at Temperatures of 480-700°C, a SiCf/SiC Hexagonal Tube for a Mixed CMC/Metal SA-Duct Including a SiCf/SiC Shroud
Figure 41. Pool- And Loop-Type Reactors In The World
Figure 42. SMR Heat Pipe Technology Description
Figure 43. SMR Heat Pipe Technology Description Environmental Benefits
Figure 44. Westinghouse Lead Fast Reactor LFR Functions
Figure 45. Benefits of the Westinghouse LFR:
Figure 46. Westinghouse Next Generation Lead-cooled Fast Reactor (LFR)
Figure 47. Westinghouse Lead-Cooled Fast Reactor
Figure 48. US SMR Pre-Applications for a Construction Permit
Figure 49. Selected Number of SMR Reactor Designs and Development Efforts Worldwide
Figure 50. Selected SMR Designs in Development
Figure 51. Components of a Nuclear Reactor
Figure 52. Components Of A Nuclear Power Plant
Figure 53. Micro-Reactor
Figure 54. Benefits of the Westinghouse LFR:
Figure 55. LFR Key Attributes
Figure 56. Global Warming Issues
Figure 57. Climate Change Methane Issues
Figure 58. A Resident Inspector at Work at the Vandellós II Nuclear Power Plant
Figure 59. Plant Performance Indicators Levels Of Importance For Safety
Figure 60. Resident Inspectors Functions and Responsibilities Key Functions
Figure 61. SMR Plant Safety
Figure 62. SMR Plant Components and Safety
Figure 63. SMR Fundamental Safety Functions (FSFs)
Figure 64. SMR Physical Barriers to Radiation Releases
Figure 65. SMR GE Hitachi BWRX-300 Monitoring Function Design Considerations
Figure 66. GE Hitachi BWRX-300 Safety Strategy Flow Chart
Figure 67. GE Hitachi BWRX-300 Safety Goal
Figure 68. SMR Passive Safety Systems
Figure 69. SMR Factors Increasing Reactor Market
Figure 70. Fuel Pellet The Size Of A Walnut
Figure 71. Fuel Pellet Powerful
Figure 72. Fully Ceramic Microencapsulated (FCM®) Fuel
Figure 73. FCM Fuel SiC Shells Made In Whatever Shape Needed - Usually Cylinders Or Annular Cylinders
Figure 74. Ceramic Micro-encapsulated Fuel
Figure 75. Fully Ceramic Micro-encapsulated Fuel TRISO Legacy
Figure 76. High Performance TRISO Manufacturing Image for US DOE
Figure 77. BWXT Technologies is a subsidiary of BWX Technologies and is based in Lynchburg, VA 132 Source: BWXT.
Figure 78. Naval Nuclear Propulsion - BWX Technologies
Figure 79. BWXT World Class Nuclear Manufacturing Facilities
Figure 80. GE Hitachi President, TVA President, and Others
Figure 81. GE Hitachi Nuclear Energy BWRX-300 Reactor Planning along the Clinch River - Discussion with U.S. Secretary Jennifer Granholm, middle, and TVA President Jeff Lyash,
Figure 82. GE / Hitachi SMR Artist Picture of SMR BWRX-300 Reactor
Figure 83. Selected Customers of GE / Hitachi Nuclear Energy Small Modular Reactors SMR BWRX-300
Figure 84. GE Hitachi Nuclear Energy First Signed Contract
Figure 85. Scott Strazik, CEO GE Vernova Headquarters in Cambridge with Massachusetts Governor Maura Healey
Figure 86. GE Vernova Headquarters Cambridge MA.
Figure 87. GE Hitachi (GEH) Small Modular Reactor SMR BWRX-300
Figure 88. GE Hitachi (GEH) Small Modular Reactor SMR BWRX-300 Features
Figure 89. GE Hitachi (GEH) Small Modular Reactor SMR BWRX-300
Figure 90. GE Hitachi GEH Small Modular Reactor SMR Tennessee Valley Authority TVA Facility Plans
Figure 91. GE Hitachi GEH Small Modular Reactor SMR Poland Facility Plans
Figure 92. GE Hitachi GEH Small Modular Reactor SMR UK Facility Plans
Figure 93. GE Hitachi GEH Small Modular Reactor SMR Plans 150 Source: GEH.
Figure 94. Hitachi Nuclear
Figure 95. Holtec SMR
Figure 96. Holtec Water-Cooled Small Modular Reactor SMR Features
Figure 97. HALEU Uranium Dioxide Fuel Pellets Fabricated by Idaho National Laboratory.
Figure 98. HALEU Functions
Figure 99. Idaho National Laboratory Researchers Plan To Make Up to 150 HALEU Fuel Pellets For Testing
Figure 100. Kairos Power Molten Salt Reactor
Figure 101. Last Energy SMR
Figure 102. Last Energy's Microreactor Demonstration in Brookshire, Texas.
Figure 103. Moltex Energy FLEX Reactor Applications
Figure 104. Molex Energy FLEX Reactor Heat Applications
Figure 105. Molex FLEX Reactor
Figure 106. NuScale Power
Figure 107. NuScale Small Modular Nuclear Reactor
Figure 108. NuScale Power Module
Figure 109. Natrium™ Reactor And Integrated Energy Storage
Figure 110. Natrium Demonstration Project Team: Nuclear Companies That Provide Supply Chain And Operational Expertise to TerraPower
Figure 111. TerraPower Founded in 2008 by Bill Gates
Figure 112. Reactor and Fuel Design for the TWR
Figure 113. Primary Activities at TerraPower Lab
Figure 114. Natrium Technology Functions
Figure 115. TerraPower and GE-Hitachi Natrium technology
Figure 116. TerraPower Materials Testing
Figure 117. TerraPower and GE-Hitachi Technology Natrium Project Images
Figure 118. Terrestrial Energy’s IMSR
Figure 119. Terrestrial Energy’s IMSR
Figure 120. Terrestrial Energy Trade Associations
Figure 121. Terrestrial Energy’s IMSR Power Plant Functions
Figure 122. Terrestrial Energy’s IMSR Self-Contained MSR, Molten Salt, Pumps, Primary Loop And Graphite Moderators Contained within Core-Unit
Figure 123. Current NRC Project Name / Design Application Type Applicant
Figure 124. NRC-Approved FPGA-Based Digital Safety Systems.
Figure 125. Paragon Documents Typically Generated During the Design Process
Figure 126. Westinghouse AP1000 Nuclear Reactor
Figure 127. Westinghouse AP300 Pressurized Light Water Technology Based on the Proven AP1000 Reactor
Figure 128. Westinghouse Small Modular Nuclear Reactor AP300 Uses Identical Technology as on the Proven AP1000 Reactor
Figure 129. A Look Inside Westinghouse AP300 Small Modular Nuclear Reactor
Figure 130. Westinghouse AP300 Small Modular Nuclear Reactor Water Production and District Heating and Electrification
Figure 131. Westinghouse Small Modular Nuclear Reactor AP300 Advanced Reactor Technology
Figure 132. Westinghouse AP300 SMR Proven Capabilities Throughout the Plant Lifecycle: Functions
Figure 133. Westinghouse’s eVinci Advanced Heat Pipe Technology Micro Reactor
Figure 134. Westinghouse eVinci Micro Reactor
Figure 135. eVinci Microreactor Key Benefits
Figure 136. eVinci Designed with Diverse and Redundant Safety Features, from AccidentTolerant Fuel to Passive Heat Removal
Figure 137. eVinci Key Applications
Figure 138. Look Inside Westinghouse AP300 Small Modular Nuclear Reactor
Figure 139. Westinghouse AP300 Small Modular Nuclear Reactor Water Production and District Heating and Electrification
Figure 140. AP300 SMR Advanced Safety Features
Figure 141. AP300 SMR Advanced Safety Functions
Figure 142. Westinghouse Benefits of Basing AP300 on the Proven AP1000 Reactor:
Figure 143. eVinci Microreactor Key Benefits
Figure 144. Westinghouse eVinci Microreactor Accelerator Hub 51 Bridge Street in Etna, Pennsylvania
Figure 145. eVinci Microreactor Accelerator And Standalone Technology Hub
Figure 146. ‘Spain Space’ at the Nuclear Fair in Paris
Figure 147. 40 Countries Use Spanish Nuclear Technology
Figure 148. 2023 Atoms 4 Food: Nuclear Science Against World Hunger
Figure 149. Rolls-Royce SMR
Figure 150. Rolls-Royce Nuclear Space Micro-Reactor Concept Model
Figure 151. Rolls-Royce Collaborators
Figure 152. Taylor Devices Range of SMR products
Figure 153. Taylor Devices Nuclear Equipment Supports
Figure 154. Ultra Safe Nuclear Investor and Partners
Figure 155. Ultra Safe Nuclear TRISO and FCM Fuel Manufacturing Facility
Figure 156. Ultra Safe Nuclear TRISO and FCM Fuel Pilot Line
Figure 157. Ultra Safe Nuclear Triso Fuel
Figure 158. Nuclear Triso Fuel
Figure 159. Triso Fully Ceramic Micro-encapsulated Fuel
Figure 160. Micro Modular Reactor (MMR) Energy System
Figure 161. Ultra Safe Nuclear Ceramic Core Fuel Based Safety
Figure 162. Ultra Safe Nuclear Corporate Operations
Figure 163. USNC GLOBAL TEAM
Figure 164. X-Energy Reactors, Fuel, and Advantages
Figure 165. Xe-100 Functions
Figure 166. X-Energy Metrics
Figure 167. X- Energy Small Modular Reactor Design Benefits
Figure 168. X- Energy Small Modular Reactor
Figure 169. X-Energy Partners and Projects
Figure 170. X-Energy Nuclear Energy High-Temperature Gas-Cooled Reactor Xe-100 Applications
Figure 171. X-Energy Nuclear Energy Xe-100 Advanced Modular Technology Functions 263 5.33.5 X-Energy Nuclear Energy Xe-100 Fuel
Figure 172. X-Energy’s Business Model
Figure 173. Reactor X-E
Figure 174. X-Energy’s Nuclear Reactor Designs
Figure 175. TRISO Particles Nuclear Fuel
Figure 176. X-Energy TRISO Fuel
Figure 177. TRISO Coated Particle Fuel is the Key to Safety
Figure 178. Spanish Nuclear Equipment Companies