As per Market Research Future (MRFR)’s new analysis, the global solar panel recycling market is projected to strike a CAGR of 33% over the forecast period 2018 to 2023. The market valuation is estimated to grow from USD 90.23 Mn in 2017 to USD 300 Mn by 2023-end. The global solar panel recycling market is mainly driven by the growing demand for solar energy, which has driven the production of new solar panels, making the old ones redundant. The growing demand for solar power all over the world is likely to be a major driver for the global solar panel recycling market over the forecast period.
Solar panel recycling has emerged as a vital need for the future due to the growing reliance on solar power as a viable renewable energy source. The growing demand for exploiting solar power to the full has led to rapid innovation in solar panels, leading to regular product enhancements. While this has helped the solar energy industry by allowing widespread installation of the latest tech, it has also created the problem of a growing volume of solar panel waste.
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The swift rate of solar PV installation and rising count of solar power projects have led to a phenomenal volume of decommissioned PV panels. It is forecasted to influence the expansion of the solar panel recycling market positively in the upcoming years. Additionally, the developments and innovations in the solar Advance Technology pose immense potential for revolutionizing the market growth through the assessment period.
The growth of the solar energy industry is likely to reflect on the expansion of the solar panel recycling market. The rising awareness about the environmental effects of solar power is likely to propel the growth of the global market over the next couple of years. However, the expensive energy storage remains an impediment to the market growth.
Competitive Dashboard:
Some of the key players profiled in the report are Yingli Energy Co, Reclaim PV Recycling, Zorlu Holding, Silcontel, First Solar, Canadian Solar Inc, Reiling GmbH & Co, ECS Refining LLC, Rinovasol Group, and Silrec Corporation.
Segmental Analysis:
MRFR’s report offers a comprehensive segmental analysis of the global solar panel recycling market based on type, process, and shelf life.
By type, the market has been segmented into silicon solar panels, monocrystalline solar panels, polycrystalline solar panels, thin-film solar panels.
By process, the solar panel recycling market has been segmented into thermal, mechanical, and laser.
By shelf life, the market has been segmented into normal loss and early loss.
Regional Analysis:
The global solar panel recycling market, by region, has been segmented into North America, Europe, Asia Pacific, Rest of the World.
Europe is the major regional market for solar panel recycling technology and is likely to remain a leading regional player in the global market over the forecast period due to the widespread adoption of solar power in the region. European governments have been supportive towards the adoption of renewable energy generation projects, leading to strong prospects for the solar panel recycling market in the region over the forecast period. Countries such as France could emerge as major players in the global solar panel recycling market over the forecast period due to the growing reliance on solar power in these countries.
North America is also likely to exhibit strong growth over the forecast period due to the growing demand for newer, more advanced solar panels in the region, which has led to the generation of a significant volume of solar panel waste.
Asia Pacific could play a major role in the global solar panel recycling market in the long run, as the high need for power in this region has led to a growing use of solar power. This is likely to lead to a widespread need for effective recycling solutions in a few decades, leading to steady growth of the solar panel recycling market in the region.
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Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.3 Market Structure
2.4 Key Takeaways
2.5 Key Buying Criteria
3 Market Insights
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
4.6 List Of Assumptions
5 Market Dynamics
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Supply Chain Analysis
5.6 Porter’s Five Forces Model
6 Global Solar Panel Recycling Market, By Type
6.1 Overview
6.1.1 Silicon Solar Panels
6.1.2 Monocrystalline Solar Panels
6.1.3 Polycrystalline Solar Panels
6.1.4 Thin-Film Solar Panels
7 Global Solar Panel Recycling Market, By Process
7.1 Overview
7.1.1 Thermal
7.1.2 Mechanical
7.1.3 Laser
8 Global Solar Panel Recycling Market, By Shelf Life
8.1.1 Normal Loss
8.1.2 Early Loss
Continued………
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