“Solar Panel Recycling Market”
The Solar Panel Recycling Market is expected to reach US$ 422.12 Mn. by 2029 with a CAGR of 13.1%, during the forecast period.
Pune, 22, Nov 2022: According to Maximize Market Research, the latest report “Solar Panel Recycling MarketIt is expected to grow from $157.66 million in 2021 to $422.12 million in 2029, at a CAGR of 13.1 percent for the forecast period from 2022 to 2029.
Scope and Methods of Solar Panel Recycling
The report is a systematic analysis of solar panel recycling with key market insights and trends. It identifies key investment pockets with recommendations on investment strategies to be adopted. For new entrants, market followers, and investors, a competitive analysis of the solar panel recycling market is made through their revenue, financial status, portfolio, growth strategies, mergers and acquisitions, joint ventures, technological advances, and regional dominance. Growth opportunities are key findings in the report that help companies leverage their resources and target growth prospects. Market perspectives such as drivers, challenges, restraints, and opportunities are studied along with changes in growth rate.
Data were collected by using primary and secondary research methods. Surveys, administration of questionnaires and telephone interviews with industry specialists, market leaders, entrepreneurs, and marketing professionals are included in the primary research. Secondary data were collected from official databases of various organizations and government sites, industry journals, white papers, annual reports, and releases of product manufacturers and suppliers in industry with paid database. SWOT analysis is done to understand the strengths and weaknesses of the leading players and PESTLE to understand the various factors affecting the solar panel recycling market. It includes key economic and political factors affecting the solar panel recycling market.
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Solar Panel Recycling Market Overview
Solar panel waste is a growing problem because it contains harmful elements that can leach into the ground and contaminate drinking water. Recycling solar panels helps reduce waste generation. Recycled material can be used to make new panels. Solar panels can be broken down into different components and recycled using different methods such as mechanical, thermal, chemical, laser, and combination. Rising energy costs, improved recycling technology, and government regulations could pave the way for a market where discarded solar panels are recycled rather than dumped in the nearest landfill.
Solar Panel Recycling Market Dynamics
The increasing sales of solar panels due to the widespread adoption of renewable energy sources worldwide creates solar panel waste that goes to landfill every year. This represents one of the key factors increasing the need for solar panel recycling methods to reduce human health risks and ensure end-of-life (EoL) management. Solar Panel Recycling also helps reduce the overall cost of new panels. Energy demand has increased due to economic growth in countries and higher living standards. Countries around the world are increasing their energy production capacity by building new plants or increasing the capacity of existing facilities to meet the increased demand for electricity. Companies are focusing on developing low-cost renewable energy generation technologies in response to the introduction of strict government rules regulating greenhouse gas emissions. Thus, the growth in global electricity consumption is expected to create new opportunities for the global solar panel recycling market throughout the forecast period.
Apart from that, the adoption of strict regulations and policies, such as product management and increase in landfill costs, by governing bodies in many countries is also contributing to the growth of the market. these authorities regulate recycling processes and implement various solar energy initiatives. This, in turn, presents profitable opportunities for manufacturers in this industry to increase their market reach. Additionally, many companies are investing in research and development (R&D) operations to recover and recycle rare metal elements, which is expected to drive market growth.
Regional Insights into the Solar Panel Recycling Market
The Asia-Pacific region is expected to have the fastest growth rate of the solar panel recycling market, with China being the largest market. In Asia-Pacific, the capacity of solar power generation has increased significantly with increasing environmental concerns and industrialization. China’s solar power market is expected to dominate in utility terms, and the country is trying to increase demand for rooftop solar systems. The country’s energy market has been deregulated, and distribution grid-connected (DGC) generators are now allowed to sell electricity directly to commercial and industrial consumers. Due to the aforementioned considerations, the demand for solar panel recycling has increased throughout the forecast period.
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Solar Panel Recycling Market Segmentation
Through Technology
or Monocrystalline
or Poly- or multi-crystalline
or Others (Ribbon, a-Si)
o Copper indium gallium (di)selenide (CIGS)
or Cadmium telluride (CdTe)
o Organic PV/dye-sensitized cells (OPV)
o Crystalline silicon (advanced c-Si)
o Concentrating solar PV (CPV)
By End-Of-Life
Through the Process
Through Recycling Management
- Producer
- Special waste disposal companies
- MUNICIPAL
Key Competitors in the Solar Panel Recycling Market
- Reiling Glasrecycling Denmark ApS
- ECS Refining LLC
- Envaris
- SunPower Corporation
- Morgen Industries, Inc.
- PV recycling
- Silcontel Ltd.
- Reclaim PV Recycling Pvt. Ltd.
- First Solar
- Recycle Solar Technologies Limited.
- Total Green Recycling
- Trina Solar
- Sharp Corporation
- JA Solar Co., Ltd.
- Canadian Solar Inc.
- Renesola
Key questions answered in the Solar Panel Recycling Market are:
- What is solar panel recycling?
- What will be the growth rate of solar panel recycling market during the forecast period?
- What is the competitive nature of the solar panel recycling industry in developed and developing economies?
- Who are the key players in solar panel recycling?
- Who are the market leaders in Asia Pacific solar panel recycling?
- What are the factors affecting the growth of solar panel recycling?
- Who holds the largest share of the solar panel recycling market?
- What are the factors driving the growth of the asia-pacific region in solar panel recycling?
Main Offerings:
- Market share, size and forecast by revenue | 2022−2029
- Market dynamics – growth drivers, restraints, investment opportunities, and key trends
- Market segmentation – a detailed analysis by technology, end-of-life, recycling process management and region.
- Competitive landscape – leading key vendors and other prominent vendors
Maximize Market Research is the leading energy and energy research company, also publishing the following reports:
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Wave and Tidal Energy Market– The size of the wave and tidal energy market is expected to reach usd 6012.1 million by 2029 at a CAGR of 33.3 percent during the forecast period. The wave and tidal energy market is expected to be driven by increasing energy demand for various operations in the commercial and residential sectors.
Residential Solar (PV) Inverter Market: residential solar (PV) inverter market will be valued at $4.58 billion by 2021. The residential solar (pv) inverter market is estimated to grow at a CAGR of 4.3 % during the forecast period. Increasing government incentives, huge investments in the renewable energy industry, and growth in residential solar installations are driving the market growth.
Solar Battery Market: The solar battery market size was valued at usd 155.42 million in 2021 and the total revenue of solar battery is expected to grow at a CAGR of 16% from 2022 to 2029, to reach around usd 509.53 million . Oil, coal, and other fossil fuels are in short supply, which increases the demand for renewable energy-based technology. Additionally, the adoption of solar battery storage technologies and increasing investment in the industry are driving the market growth.
About Maximize Market Research:
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