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Small and Medium-Sized Reactors - New Build Market, Policy Analysis, Competitive Landscape and Key Country Analysis to 2025

Global SMR market: 54 SMRs scheduled for installation in Asia-Pacific region


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2014-01-20 12:15:02 - Small and Medium-Sized Reactors - New Build Market, Policy Analysis, Competitive Landscape and Key Country Analysis to 2025 - a new market research report on companiesandmarkets.com

A number of countries across the world have formulated ambitious plans for the development of nuclear power. Countries such as China and India are leading the way in terms of new-build small and medium-sized nuclear projects. The key drivers for the use of nuclear energy worldwide are burgeoning power demand, increasing fossil fuel prices, the need to mitigate greenhouse gas emissions, and the low cost of electricity generation from nuclear sources.

The Asia-Pacific region, which is registering burgeoning power demand and rising carbon emissions, is expected to install the largest number of Small and Medium-sized Reactors (SMRs) in the near future. A total of 54 SMRs are scheduled for installation in the Asia-Pacific region, followed by nine in Europe, seven in

 

 

North America, and two in the Middle East and Africa. China and India, the two main countries responsible for driving demand in the region, account for a combined share of more than 90% of the 54 SMRs that are scheduled to come online in the near future.

The US: Most Suitable Nation for Construction of Small and Medium-sized Reactors

Among the leading 10 countries identified as representing the best conditions for the construction of SMRs, the US has emerged as the most suitable country. These 10 countries have been short listed on the basis of various parameters, such as economic growth rate, population density, energy consumption, electricity imports, carbon emissions, and experience with SMR technologies. Low population density and rising energy consumption are some of the key aspects driving the use of SMRs around the world.

Brazil, China, Russia, Canada, India, Sweden, Finland, Kazakhstan and South Africa have also been identified as representing good prospects for the development of SMRs.

Pressurized Heavy Water Reactor is Most Preferred Technology among Small and Medium-sized Reactors

Among the SMRs planned to come online, the majority are expected to be Pressurized Heavy Water Reactors (PHWRs) rather than the operating SMR technologies currently used, which are predominantly Pressurized Water Reactors (PWRs).

Among the reactors planned, 42% are expected to be PHWRs, 23% are expected to be PWRs, 13% are expected to be High Temperature Gas-cooled Reactors (HTGRs), 7% are expected to be Fast Breeder Reactors (FBRs), 2% are expected to be Boiling Water Reactors (BWRs), and the remaining 13% will be contributed by other reactor types.

The currently operating SMR market capacity is dominated by PWRs, which account for a 47% share, followed by PHWRs with 20%, Gas Cooled Reactors (GCRs) with 17%, and BWRs with 15%. The remaining 1% is accounted for by other reactor types.

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