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The small modular reactor market is expected to grow from an estimated in USD 5.7 billion in 2022 to USD 7.0 billion by 2030, at a CAGR of 2.7% from 2022-2030. Benefits of modularization and factory construction is the main driver for the small modular reactor market. Modularization enables the simplification of construction by dividing nuclear power plant structures, equipment, and/or components into modules that can be manufactured in a purpose-built factory, transported, and then assembled on-site. The various benefits of modularization of SMRs such as shortened construction schedules; reductions in construction cost; opportunity for production learning and repeatability; improved constructability, efficient quality control & assurance; and improved project cash flow are expected to offer lucrative opportunities for the small modular reactor market during the forecast period.

The global small marine engines market is expected to reach USD billion 10.3 billion by 2027 from an estimated USD 7.8 billion in 2022, at a CAGR of 5.5% from 2022 to 2027. Recreational boats, fishing boats, coastal boats, and support vessels utilize small marine engines primarily for propulsion from one port to another. The primary reason for the growth of the market in the region is its growing recreational boating activities, which will increase the demand for boats and vessels and eventually drive the small marine engines market.

The low cost of SMRs due to modularization and factory construction is the main driver for the small modular reactor market. Decarbonization of the energy sector to meet decarbonisation goals and integration of small modular reactors with variable renewable energy are expected to offer lucrative opportunities for the small modular reactor market during the forecast period.

Small Marine Engines Market is projected to grow from USD 7.8 billion in 2022 to USD 10.3 billion by 2027, at a CAGR of 5.5% according to a new report by MarketsandMarkets™. The global Small Marine Engines Market is expected to witness significant growth during the forecast period, owing to the surge in fishing activities and the resultant increase in demand for commercial vessels. However, stringent environmental regulations for decarbonization worldwide, and the lack of infrastructure in developing economies are likely to hamper the growth of the Small Marine Engines Market.

The small marine engines market size is estimated to be USD 10.3 billion by 2027 (forecast year) from USD 7.8 billion in 2022 (estimated year), at a CAGR of 5.5% during the forecast period. The global small marine engines market is expected to witness significant growth during the forecast period, owing to the surge in fishing activities and the resultant increase in demand for commercial vessels. However, stringent environmental regulations for decarbonization worldwide, and the lack of infrastructure in developing economies are likely to hamper the growth of the small marine engines market.