-- Solar Panel Recycling Market Synopsis
According to Market Research Future (MRFR)’s new study, the global solar panel recycling market is projected to expand at a CAGR of 33% during the forecast period 2018 to 2023. The market is expected to be valued at USD 300 Mn towards the end of 2023.
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.
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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.
Companies Covered
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.
Solar Panel Recycling Market Segments 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 Outlook
The global solar panel recycling market, by region, has been segmented into North America, Europe, Asia Pacific, Rest of the World.
Europe is the largest regional market for solar panel recycling and is expected to emerge as the fastest growing region towards the end of the assessment period. The swift inclination towards the adoption of renewable energy backed by the governments is prognosticated to expedite the growth of the solar panel recycling market in the region.
North America is a promising market and is projected to remain lucrative during the forecast period. The stringent recycling regulations enforced are expected to expedite the proliferation of the solar panel recycling market in the region. Meanwhile, the fast-developing economies of Asia Pacific resonate strong opportunities for growth.
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LIST OF TABLES
Table 1 Market Synopsis
Table 2 List Of Assumptions
Table 3 Europe Air Quality Standards
Table 4 Global Solar Panel Recycling Market, By Type, 2018-2023 (USD Million)
Table 5 Global Solar Panel Recycling Market, By Process, 2018-2023 (USD Million)
Table 6 Global Solar Panel Recycling Market, By Shelf Life, 2018-2023 (USD Million)
Table 7 Global Solar Panel Recycling Market, By Region, 2018-2023 (USD Million)
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