The global nuclear decommissioning services market is expected to grow by 6.8% a year to be valued at $8.9bn by 2025, according to a report by Grand View Research.

Global nuclear plant retirements are the main factor behind the projected growth, the report says.

Public safety concerns about nuclear and a transition towards renewables are likely to lead to further retirements and an increase in market demand over the coming years, according to the report.

Government authorities are contributing to the growth by providing various incentives and support schemes for the efficient dismantling of nuclear plants.

Europe has emerged as the leading region for decommissioning because iof the retirement and shutdown nuclear facilities in Germany, the UK, France, and Lithuania. The US, Germany, Japan and South Korea are “rapidly developing markets: for nuclear decommissioning services, the report says.