Guidehouse Research Estimates Global Revenue Generated by Small Modular Reactors to Reach $8.1 Billion by 2034

Growing momentum for SMRs amid rising energy demand and decarbonization goals

, /PRNewswire/ — A new report from Guidehouse Research explores the emerging global market for small modular reactors (SMRs).

SMRs offer clean, firm, and flexible power with the potential for year-round operation and scalability. They may also support a wide range of applications – from powering remote communities and industrial operations to supplying energy for data centers and marine vessels. According to a new report from Guidehouse Research, 1,224 megawatts of electricity is expected to be added to annual global capacity by 2034. Similarly, revenues generated are expected to go from $375.8 million in 2025 to $8.1 billion in 2034.

“The SMR market will achieve commercial scale when orderbooks begin to form, obligating production of dozens of the same reactor module,” said Alex Maranville, senior research analyst at Guidehouse Research. “However, challenges remain, including cost unpredictability, timeline uncertainty, and supply chain bottlenecks.”

SMRs enable 24/7 clean firm power, with minimal maintenance throughout the year. SMRs are scalable, composed of modules that can be stacked together to match demand. Advanced reactor (AR) technology may have added use cases, such as producing industrial-level heat, having flexibility to ramp up and down quickly, and even storing energy like a large battery. Therefore, in addition to benefiting large utilities, SMRs may also be useful for remote communities, industrial companies such as hydrogen or chemical producers, marine vessel developers, and technology companies operating large server farms, according to the report.

Guidehouse Research finds there is a lot of interest in developing SMRs globally, with a pipeline of approximately 30 gigawatts at various stages of development from predesign to construction. Approximately 60 developers are leading efforts to create a new market, some focusing on well-established technologies, and others looking to explore opportunities for ARs to capture different markets.

The report, Small Modular Reactors and Advanced Nuclear, provides analyses for SMR capacity additions and revenue from 2025 to 2034, and explains the technology’s primary drivers and barriers. Analyses are segmented by global regions (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), as well as technology type, size, location, and reactor iteration. An executive summary of the report is available for free download on the Guidehouse Research website.

About Guidehouse Research

Guidehouse Research, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Research can be found at guidehouseresearch.com.

About Guidehouse

Guidehouse is a global AI-led professional services firm delivering advisory, technology, and managed services to the commercial and government sectors. With an integrated business technology approach, Guidehouse drives efficiency and resilience in the healthcare, financial services, energy, infrastructure, and national security markets. Built to help clients across industries outwit complexity, the firm brings together approximately 18,000 professionals to achieve lasting impact and shape a meaningful future. guidehouse.com

* The information contained in this press release concerning the report, Small Modular Reactors and Advanced Nuclear, is a summary and reflects the current expectations of Guidehouse Research based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Research nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.

For more information, contact:

Cecile Fradkin for Guidehouse Research
+1.646.941.9139
[email protected]

SOURCE Guidehouse Research