Solar Panel Recycling Market is projected to be worth USD 718.8 million by 2028, registering a CAGR of 32% during the forecast period (2021 - 2028)., The market was valued at USD 197.87 million in 2020.
The strong value maintained by the renewable energy sector coupled with rising investments in solar power generation is likely to catalyze the expansion of the solar panel recycling market over the assessment period. Investments are prognosticated to flow towards solar advance technologies, which is anticipated to open new avenues of growth opportunities for the market participants. Additionally, the thriving rate of PV installation has paved the way for rising volume of decommissioned PV panels. This, in turn, is poised to expedite the proliferation of the solar panel recycling market in the foreseeable future.
The support extended by the government for reduction of carbon footprints through large-scale solar power generation is expected to influence the expansion of the market positively over the next couple of years. Furthermore, the developing economies resonate promising potential to emerge as major country-level markets in the forthcoming years. Nevertheless, the high cost of energy storage is likely to hold the growth of the solar panel recycling market over the assessment period.
Some of the key players operating in the global solar panel recycling market are Yingli Energy Co, Silcontel, Reclaim PV Recycling, Zorlu Holding, First Solar, Canadian Solar Inc, Rinovasol Group, Reiling GmbH & Co, ECS Refining LLC, and Silrec Corporation.
This MRFR’s report offers a five-year forecast (2021 to 2028) for the global solar panel recycling market. It highlights the current market status and industry trends. For market sizing, all the types of solar panel recycling such as silicon solar panels, monocrystalline solar panels, polycrystalline solar panels, and thin-film solar panels are profiled. A revenue analysis of different processes encompasses thermal, mechanical, and laser. The solar panel recycling market is also studied on the basis of shelf life for an in-depth study, which includes normal loss and early loss. The geographical study of the solar panel recycling market spans across North America, Europe, Asia Pacific, and Rest of the World.
MRFR strives to offer fact-based insights into the market for empowering our clients to make informed decisions. Fail-safe research and evaluation methods are leveraged for data mapping and uncovering of market trends from data collected through extensive primary and secondary research. The points of references referred for data curation include interviews with key level executives, SEC filings, surveys, annual reports and whitepaper references among others. Furthermore, top-down and bottom-up approaches employed reaffirm the credibility of the market size and revenue estimation. A multi-layer verification process authenticates the credibility of the holistic insights and statistical observations available in our report.
By Shelf Life
|Market Size||2028: USD 718.8 million|
|CAGR||32% CAGR (2021-2028))|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Process|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Yingli Energy Co, Silcontel, Reclaim PV Recycling, Zorlu Holding, First Solar, Canadian Solar Inc, Rinovasol Group, Reiling GmbH & Co, ECS Refining LLC, and Silrec Corporation|
|Key Market Opportunities||Increasing Investment In Renewable Energy Sources|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global Solar panel recycling is expected to record a substantial market valuation of USD 718.8 million by 2028.
The global Solar panel recycling is projected to register a moderate 33.51% CAGR in the forecast period.
The thin film solar panel segment is slated to expand as the fastest-growing segment.
The mechanical segment is slated to expand as the fastest-growing segment.
A few major market players operating in the global Solar panel recycling are Rinovasol Group, Canadian Solar Inc, Reiling GmbH & Co, among others.