In 2025, 127 SMR designs were identified worldwide, and seven were operating or under construction.
Why this market is moving now
- By early 2025, 51 SMR designs were moving through licensing in 15 countries.
- Data centre owners have announced plans for up to 25 GW of SMR capacity, mostly in the United States.
- In 2025 Ontario approved the budget for the first SMR in a G7 country, with grid connection planned by the end of 2030.
- Large technology buyers signed SMR deals in 2024 and 2026, including more than 5 GW planned by 2039.
Key figures
Global figures for this market, with the year each one describes. Use Cite to copy a reference to this page.
| Figure | Value | Year | Cite |
|---|---|---|---|
| 127 small modular reactor designs were identified worldwide in 2025. | 127 SMR designs | 2025 | |
| Of 74 SMR designs under active development assessed in 2025, 30 come from organisations headquartered in North America and 20 from organisations in Europe. | 30 designs (North America) | 2025 | |
| 51 SMR designs were in pre-licensing or licensing processes across 15 countries in 2025, with about 85 active talks between developers and site owners worldwide. | 51 designs in licensing | 2025 | |
| Seven SMR designs worldwide were either operating or under construction in 2025. | seven designs | 2025 | |
| Under current policy settings, global SMR capacity reaches 40 GW by 2050. | 40 GW | 2050 | |
| In a strong policy scenario, the global SMR market totals USD 670 billion over 2024 to 2050, with more than 1,000 reactors and 120 GW of capacity. | 670 USD billion (2024 to 2050) | 2050 | |
| Plans for up to 25 GW of SMR capacity to supply data centres had been announced worldwide by early 2025, almost all of them in the United States. | 25 GW | 2025 | |
| Ontario approved a CAD 20.9 billion budget in 2025 for four BWRX-300 SMRs at Darlington, set to be the first SMR in a G7 country, with the first unit due on the grid by the end of 2030. | 20.9 CAD billion | 2025 | |
| Google's agreement with Kairos Power will enable up to 500 MW of new carbon-free nuclear power, with the first SMR targeted online by 2030. | 500 MW (up to) | 2024 | |
| X-energy and Amazon aim to bring more than 5 GW of new nuclear capacity online by 2039. | 5 GW (more than) | 2026 |
Calculated figures (shares, changes and prices per kilogram) are plain arithmetic on the reported values. Read how we work.
Companies to watch
Ontario Power Generation
Building four BWRX-300 units at Darlington on a CAD 20.9 billion budget; first unit due on the grid by the end of 2030.
GE Vernova Hitachi Nuclear Energy
Designer of the BWRX-300 reactor chosen for the four-unit Darlington project.
Kairos Power
SMR developer with a Google agreement for up to 500 MW, first unit targeted by 2030.
X-energy
Xe-100 developer working with Amazon toward more than 5 GW of new nuclear capacity by 2039.
Signed an agreement with Kairos Power for up to 500 MW of SMR power.
Amazon
Backs X-energy's plan for more than 5 GW of new nuclear capacity by 2039.
What the full report covers
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the global market - 03Global market size, 2021 to 2025
Historical series and growth rates - 04Countries and regions
Demand, supply and trade by country and region - 05Outlook to 2031
Base, low and high scenarios with stated assumptions - 06Rules, policy and deadlines
Regulation and programmes that change demand - 07Drivers and barriers
What accelerates or slows adoption, by customer segment - 08Prices, costs and margins
Unit economics where public data allows - 09Competitive landscape
8 to 12 company profiles with recent moves - 10Opportunities and risks
For new entrants, suppliers and investors - 11Method and assumptions
How every figure was built
Included with the full report
- PDF report, 40 to 60 pages
- Excel data pack
- Ready-to-use charts
- Method note and assumptions
- Written to order in 5 working days
Frequently asked questions
How big is the global small modular reactor market?
In a strong policy scenario, the global SMR market totals USD 670 billion over 2024 to 2050, with more than 1,000 reactors and 120 GW built. Under current policies, SMR capacity reaches 40 GW by 2050.
How many SMR designs are there worldwide?
127 SMR designs were identified worldwide in 2025. Seven designs were operating or under construction.
Which countries lead SMR development?
Of 74 active designs assessed in 2025, 30 come from organisations based in North America and 20 from Europe. Almost all of the 25 GW of SMR plans for data centres are in the United States.
How many SMRs are being licensed?
In 2025, 51 SMR designs were in pre-licensing or licensing processes across 15 countries. There were about 85 active talks between developers and site owners.
Which companies are buying SMR power?
Google has an agreement with Kairos Power for up to 500 MW. Amazon and X-energy aim for more than 5 GW of new nuclear capacity by 2039.
When will the first SMR in a G7 country run?
Ontario approved a CAD 20.9 billion budget for four BWRX-300 units at Darlington in 2025. The first unit is due on the grid by the end of 2030.
Free sample
Get a free sample of this report
We send the table of contents, two sample chapters and the method note, usually within one working day. It is free to ask.
- Full table of contents
- Two sample chapters
- Method note and data outline