1 Executive Summary
1.1 Global SMR Capacity Growth Is Forecast to Accelerate Rapidly Post-2025
1.2 Market Positioning Driven by Light-Water SMRs with Emerging Niches Gaining Traction
1.3 Country Level Dynamics Show Differing Strengths and Shared Constraints
1.4 Unlocking SMRs’ Potential Depends on Advancing Maturity and Design Selection
1.5 Policy, Finance and Supply Chain Readiness Are Strategic Priorities for Scaling SMRs
1.6 Financing Models and Investment Structures Are Critical for Early Deployment
2 Definitions
2.1 Small Module Reactors
2.2 Microreactors
2.3 Gen III + and IV Reactors
2.4 FAOK and NAOK
2.5 Fuel Definitions
2.6 Types of SMRS
- Light-Water SMRs (LWRs)
- High-Temperature Gas-Cooled SMRs (HTGRs)
- Sodium-Cooled Fast Reactors (SFRs)
- Lead- or Lead-Bismuth-Cooled Fast Reactors (LFRs/LBFRs)
- Molten Salt Reactors (MSRs)
- Supercritical Water-Cooled Reactors (SCWRs) / Advanced Water-Cooled Concepts
- Hybrid/Nontraditional SMR Concepts (less common)
2.7 SMR Benefits and Challenges
2.8 Reactor type comparison
3 Global Small Module Reactors (SMR) Power Market
3.1 Overview
3.2 Capacity and Generation
3.3 Regional Analysis
3.4 Drivers, Restraints and Challenges
- Drivers
- Restraints and Challenges
3.5 Project Status Analysis
3.6 Deals Analysis
3.7 Global Trends
- Overview
- Reactor Type Preferences
- Value Chain Developments
- Customer Preferences
- Data Centres Driving SMR Demand
- Regional Trends
- Technological Trends
3.8 Cost Analysis
4 Asia Pacific SMR Market
4.1 Overview
4.2 Capacity and Generation
4.3 Trends
4.4 Project Status Analysis
4.5 Competitor Analysis
5 Europe SMR Market
5.1 Overview
5.2 Capacity and Generation
5.3 Trends
5.4 Project Status Analysis
5.5 Competitor Analysis
6 Americas SMR Market
6.1 Overview
6.2 Capacity and Generation
6.3 Trends
6.4 Project Status Analysis
6.5 Competitor Analysis
7 The US SMR Market
7.1 Overview
7.2 Capacity and Generation
7.3 Policies
7.4 Project Status Analysis
7.5 Outlook
8 Canada SMR Market
8.1 Overview
8.2 Capacity and Generation
8.3 Policies
8.4 Project Status Analysis
8.5 Outlook
9 China SMR Market
9.1 Overview
9.2 Capacity and Generation
9.3 Policies
9.4 Project Status Analysis
9.5 Outlook
10 India SMR Market
10.1 Overview
10.2 Capacity and Generation
10.3 Policies
10.4 Project Status Analysis
10.5 Outlook
11 Philippines SMR Market
11.1 Overview
11.2 Capacity and Generation
11.3 Policies
11.4 Project Status Analysis
11.5 Outlook
12 Poland SMR Market
12.1 Overview
12.2 Capacity and Generation
12.3 Policies
12.4 Project Status Analysis
12.5 Outlook
13 Russia SMR Market
13.1 Overview
13.2 Capacity and Generation
13.3 Policies
13.4 Project Status Analysis
13.5 Outlook
14 The UK SMR Market
14.1 Overview
14.2 Capacity and Generation
14.3 Policies
14.4 Project Status Analysis
14.5 Outlook
List of Tables
Table 1: SMR Market, Key Countries, Cumulative Capacity (GW), 2030-2040
Table 2: SMR Market, Cost Estimates, Key Countries, $/kW. 2040
Table 3: SMR Market, Global, Benefits and Challenges
Table 4: SMR Market, Global, Reactor Type Comparison
Table 5: Competitor Profile, Asia Pacific, PT ThorCon Power Indonesia
Table 6: Competitor Profile, APAC, Meralco PowerGen Corporation (Philippines)
Table 7: Competitor Profile, APAC, Kazatomprom (Kazakhstan)
Table 8: Competitor Profile, APAC, China National Nuclear Corporation (CNNC))
Table 9: Competitor Profile, APAC, Electricity Generating Authority of Thailand (EGAT)
Table 10: Competitor Profile, APAC, Uzatom (Uzbekistan)
Table 11: Competitor Profile, APAC, Institute of Nuclear and New Energy Technology (INET), Tsinghua University (China)
Table 12: Competitor Profile, APAC, CNNC Hainan Nuclear Power Co Ltd
Table 13: Competitor Profile, APAC, PT. Indonesia Power
Table 14: Competitor Profile, Europe, Rolls-Royce SMR Ltd (UK)
Table 15: Competitor Profile, Europe, Orlen Synthos Green Energy Sp. z o.o. (Poland)
Table 16: Competitor Profile, Europe, Shearwater Energy Ltd (UK - SMR / Hybrid Project Developer)
Table 17: Competitor Profile, Europe, Rosenergoatom Concern JSC (Russia)
Table 18: Competitor Profile, Europe, Norsk Kjernekraft AS (Norway)
Table 19: Competitor Profile, Europe, CEZ, a.s. (Czech Republic)
Table 20: Competitor Profile, Europe, Community Nuclear Power Ltd (UK)
Table 21: Competitor Profile, Europe, NNEGC Energoatom (Ukraine)
Table 22: Competitor Profile, Europe, Last Energy Inc
Table 23: Competitor Profile, Europe, Newcleo Ltd (France / Europe)
Table 24: Competitor Profile, Americas, GE Hitachi Nuclear Energy (GEH)
Table 25: Competitor Profile, Americas, Oklo Inc.
Table 26: Competitor Profile, Americas, Holtec International, Inc.
Table 27: Competitor Profile, Americas, Ontario Power Generation (OPG)
Table 28: Competitor Profile, Americas, Tennessee Valley Authority (TVA)
Table 29: Competitor Profile, Americas, Nucleoeléctrica Argentina S.A.
Table 30: Competitor Profile, Americas, TerraPower LLC
Table 31: Competitor Profile, Americas, X-energy LLC
Table 32: Competitor Profile, Americas, Last Energy, Inc.
Table 33: Competitor Profile, Americas, Terrestrial Energy Inc.
Table 34: Abbreviations
List of Figures
Figure 1: SMR Market, Global, Capacity (GW) and Annual Generation (TWh), 2020-2040
Figure 2: SMR Market, Global, Projects by status by Technology (As on March 2026)
Figure 3: Global, Total Nuclear Capacity (GW), Share of SMR in Total Nuclear (%)
Figure 4: Global, Total Nuclear Annual Generation (TWh), Share of SMR in Total Nuclear (%)
Figure 5: SMR Market, Global, Capacity (GW) and Annual Generation (TWh), 2020-2040
Figure 6: SMR Market, Regional, Capacity (GW), 2020-2040
Figure 7: SMR Market, Regional, Capacity Share (%), 2030 vs 2040
Figure 8: SMR Market, Key Countries, Capacity (GW), 2030-2040
Figure 9: SMR Market, Key Countries, Capacity Share (%), 2030 vs 2040
Figure 10: SMR Market, Global, Projects by status (As on March 2026)
Figure 11: SMR Market, Global, Projects by status by Technology (As on March 2026)
Figure 12: SMR Market, Deals, 2020-2026*
Figure 13: SMR Market, Deals by type, 2020-2026
Figure 14: SMR Market, Cost Estimates, Key Countries, $/kW. 2040
Figure 15: SMR Market, Cost Estimates, By Technology, $/kW, 2040
Figure 16: SMR Market, Asia Pacific, Capacity (GW) and Annual Generation (TWh), 2023-2040
Figure 17: SMR Market, Asia Pacific, Regional Analysis, 2040
Figure 18: SMR Market, Asia Pacific, Projects by status (As on March 2026)
Figure 19: SMR Market, Asia Pacific, Projects by status by Technology (As on March 2026)
Figure 20: SMR Market, Asia Pacific, Competitor Analysis, Projects by Status, As on March 2026
Figure 21: SMR Market, Europe, Capacity (GW) and Annual Generation (TWh), 2027-2040
Figure 22: SMR Market, Europe, Regional Analysis, 2040
Figure 23: SMR Market, Europe, Projects by status (As on March 2026)
Figure 24: SMR Market, Europe, Projects by status by Technology (As on March 2026)
Figure 25: SMR Market, Europe, Competitor Analysis, Projects by Status, As on March 2026
Figure 26: SMR Market, Americas, Capacity (GW) and Annual Generation (TWh), 2030-2040
Figure 27: SMR Market, Americas, Regional Analysis, 2040
Figure 28: SMR Market, Americas, Projects by status (As on March 2026)
Figure 29: SMR Market, Americas, Projects by status by Technology (As on March 2026)
Figure 30: SMR Market, Americas, Competitor Analysis, Projects by Status, As on March 2026
Figure 31: SMR Market, the US, Capacity (GW) and Annual Generation (TWh), 2030-2040
Figure 32: SMR Market, the US, Projects by status (As on March 2026)
Figure 33: SMR Market, Projects by status by Technology (As on March 2026)
Figure 34: SMR Market, Canada, Capacity (GW) and Annual Generation (TWh), 2031-2040
Figure 35: SMR Market, Canada, Projects by status (As on March 2026)
Figure 36: SMR Market, Canada, Projects by status by Technology (As on March 2026)
Figure 37: SMR Market, China, Capacity (GW) and Annual Generation (TWh), 2023-2040
Figure 38: SMR Market, China, Projects by status (As on March 2026)
Figure 39: SMR Market, China, Projects by status by Technology (As on March 2026)
Figure 40: SMR Market, India, Capacity (GW) and Annual Generation (TWh), 2030-2040
Figure 41: SMR Market, Philippines, Capacity (GW) and Annual Generation (TWh), 2035-2040
Figure 42: SMR Market, Poland, Capacity (GW) and Annual Generation (TWh), 2034-2040
Figure 43: SMR Market, Poland, Projects by status (As on March 2026)
Figure 44: SMR Market, Poland, Projects by status by Technology (As on March 2026)
Figure 45: SMR Market, Russia, Capacity (GW) and Annual Generation (TWh), 2020-2040
Figure 46: SMR Market, Russia, Projects by status (As on March 2026)
Figure 47: SMR Market, Russia, Projects by status by Technology (As on March 2026)
Figure 48: SMR Market, the UK, Capacity (GW) and Annual Generation (TWh), 2032-2040
Figure 49: SMR Market, the UK, Projects by status (As on March 2026)
Figure 50: SMR Market, the UK, Projects by status by Technology (As on March 2026)