The nuclear industry is experiencing a resurgence, driven by the demand for clean, reliable energy, with small modular reactors (SMRs) emerging as a key innovation due to their smaller size, lower costs, and flexibility for applications like power generation and industrial heat. The global SMR market was valued at approximately $6.14 billion in 2023 and is projected to grow to $7.14 billion by 2030 at a compound annual growth (CAGR) rate of 3.0%, with some forecasts suggesting it could reach $16.13 billion by 2034 at a CAGR of 8.9%, fueled by decarbonization goals and technological advancements. Traditional nuclear power continues to provide about 10% of the world’s electricity, while SMRs are expected to contribute 2% by 2043, supported by over 80 designs in development worldwide.
- Download the free Nuclear Report that identifies:
- Market Size & Growth Forecasts
- Market Drivers, Challenges & Concerns
- Reactor Components and NAICS Codes of Suppliers
- Contact – Developers, Manufacturers, & Trade Associations
- Map of Today’s Nuclear locations and links to key resources
- Watch the 30-minute video of Nuclear Report authors from the Penn State Extension Energy Team.
- Print a copy of the presentation notes
- Click here to view the press release.
Sample NAICS Codes
Manufacturing companies that work in these or similar NAICS (North American Industry Classification System) codes could be good candidates to join the Nuclear Supply Chain:
- 325199 Coolant
- 327390 Containment Structure
- 332410 Reactor Core and Steam Generator
- 332999 Control Rods
- 333611 Turbine
Resource Groups
- Nuclear Energy Institute (NEI)
- World Nuclear Association (WNA)
- Nuclear Industry Association (NIA)
Key OEMs (Original Equipment Manufacturers)
- Westinghouse Electric Company
- GE Hitachi Nuclear Energy (GEH)
- Framatome
- Rosatom (State Atomic Energy Corporation)
- China National Nuclear Corporation (CNNC)
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