The global solar panel recycling market is anticipated to surpass USD 325 Billion by 2027 on account of increased adoption of solar power energy generation methods backed by favored regulations across the globe. The market is anticipated to record a CAGR of around 21.4% over the forecast period i.e. 2019-2027. The market is segmented by shelf life into normal and early loss segments. The market is further segmented by type into monocrystalline, polycrystalline, thin film and others. On the basis of process, the market is segmented into thermal, mechanical and laser. By end users, the market is segmented into manufacturers and government authorities.
North America region is anticipated to witness significant growth during the forecast period owing to the increasing use of solar panels along with stringent recycling regulations in the region. The growing adoption of solar panels in emerging countries, such as, India China is expected to create new growth opportunities for market players in the near future. These factors are estimated to boost the growth of the market in Asia-Pacific region.
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Favorable Government Policies and Reduction in the Price of Solar Panels
Decline in the prices of solar panels and favorable government policies and initiatives as a move towards cleaner, affordable and reliable sources of energy are considerably propelling the adoption of solar energy around the world. According to International Renewable Energy Agency (IRENA), total volume of accumulated global photovoltaic panel waste is projected to reach around 60 to 70 million tons by 2050. There will be flourishing demand for solar panel recycling plants and solutions across the globe in the near future. Several authorities and governing bodies such as European Waste Electrical and Electronic Equipment (WEEE) have laid out efficient and effective ways of managing waste generated from solar panels and they encourage green projects. Moreover, government support in the form of tax benefits and subsidies to the market players is the factor propelling the growth of the market.
However, huge investment in establishment of solar panel recycling plants and lack of skills required for recycling solar panels are expected to operate as a key restraint to the growth of solar panel recycling market over the forecast period.
The report titled “Solar Panel Recycling Market: Global Demand Analysis Opportunity Outlook 2027” delivers detailed overview of the solar panel recycling market in terms of market segmentation by shelf life, by type, by process, by end users and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the solar panel recycling market which includes company profiling of Silcontel Ltd., Rinovasol Group, Reiling GmbH Co. KG, ENVARIS GmbH, ECS Refining LLC, Reclaim PV Recycling Pty Ltd., Silrec Corporation, Yingli Green Energy Holding Company Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the solar panel recycling market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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