Global solar panel
recycling market is projected to grow at a robust double digit CAGR of around 20%
to cross $ 300 million by 2024, owing to increasing adoption of solar power as
a source of energy and favorable government regulations supporting sustainable
development. Recycling solar panels is a relatively complex task, as these
panels contain different types of materials which need to be separated
to be properly recycled. Solar panel recycling has both tremendous
environmental and economic benefits.
Growing energy
crisis, high rate of carbon emissions, and increasing concerns about environmental
protection have stimulated the need for sustainable power generation, globally.
The growing number of pacts and initiatives related to the implementation of
solar energy projects, across the world, is the main factor supporting the
increased installation of solar panels or PV modules, which, in turn, is
driving the solar panel recycling market.
In terms of type, solar
panel recycling market is categorized into monocrystalline, polycrystalline, thin
film & others. Of these types, monocrystalline dominated the global market
in 2018 and is expected to register a healthy growth rate during the forecast
period. The wide adoption of monocrystalline
solar panels is resulting in them ending up for recycling more than any of the
other solar panel types and thereby driving the solar panel recycling market
for the monocrystalline type.
Regionally, Asia-Pacific
solar panel recycling market is expected to grow at the fastest rate. Growing
environment sustainability concerns and cost advantages of solar panel
recycling in emerging economies, such as China and India, are expected to aid the
region’s solar panel recycling market in the coming years. Moreover, North
America is anticipated to register significant growth in solar panel recycling
market during the forecast period. Backed by increasing use of solar PV panels coupled
with stringent recycling regulations, United States solar panel recycling
market is likely to exhibit robust growth.
Global solar panel
recycling market is fragmented, owing to the presence of several established
and regional vendors. Increasing R&D activities are leading to the
development of more efficient recycling techniques, thus boosting the value
addition from recycled materials. Moreover, this is resulting in high market competition,
which is expected to further intensify in the coming years. Few of the major
companies operating in global solar panel recycling market are Silcontel Ltd., Rinovasol
Group, Reiling GmbH & Co. KG, ENVARIS GmbH and ECS Refining LLC.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the
Study:
- To analyze and forecast global solar panel
recycling market size, in terms of value.
- To forecast global solar panel recycling market based on type, process,
shelf life and regional distribution.
- To identify drivers and challenges for global solar
panel recycling market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions etc. in global
solar panel recycling market.
- To conduct the pricing analysis for global
solar panel recycling market.
- To identify and analyze the profile of leading
players operating in global solar panel recycling market.
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Some of the leading players in global solar panel
recycling market are Silcontel Ltd., Rinovasol Group, Reiling GmbH & Co.
KG, ENVARIS GmbH, ECS Refining LLC, Reclaim PV Recycling Pty Ltd., Silrec
Corporation, Canadian Solar Inc., Yingli Green Energy Holding Company Limited
and First Solar Inc.
TechSci Research performed both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of solar panel manufacturers and solar panel recycling vendors across
the globe. Subsequently, TechSci Research conducted primary research surveys
with the identified companies. While interviewing, the respondents were also
enquired about their competitors. Through this technique, TechSci Research was
able to include the solar panel recycling providers which could not be
identified due to the limitations of secondary research. TechSci Research analyzed
the service offerings, distribution channels and presence of all major vendors across
the globe.
TechSci Research calculated global solar panel recycling
market size using a top down approach, where data for various application
across various end-user segments was recorded and forecast for the future years.
TechSci Research sourced these values from the industry experts and company
representatives and externally validated through analyzing historical data of these
product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press
releases, company annual reports, investor presentations and financial reports
were also studied by TechSci Research.
Key Target
Audience:
- Solar panel manufacturers,
distributors, suppliers and other stakeholders
- Solar
panel recycling companies
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums and
alliances related to solar panel recycling market
- Market research and
consulting firms
The study is useful in providing answers
to several critical questions that are important for the industry stakeholders
such as manufacturers, vendors and end users. The study would also help them in
identifying which market segments should be targeted over the coming years in
order to strategize investments and capitalize on growth of the market.
Report Scope:
In this report, global solar panel
recycling market has been segmented into following categories, in addition
to the industry trends which have also been detailed below:
- Market, by Process:
- Market, by Type:
- Monocrystalline
- Polycrystalline
- Thin Film & Others
- Market, by Shelf Life:
- Market, by Region:
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Malaysia
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- North America
- United States
- Mexico
- Canada
- South America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Nigeria
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in global solar panel recycling market.
Available
Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players
(up to five).
Profit Margin Analysis
- Profit margin analysis in case of direct and indirect
sales channel.
In case you don’t find what you are
looking for, please get in touch with our custom research team at sales@techsciresearch.com
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