Solar Panel Recycling Market Analysis
As per Market Research Future ( MRFR )’ s new analysis , the global
Solar Panel Recycling Market Size is projected to strike a CAGR of 33 % over the forecast period 2018 to 2023 . The market valuation is estimated to grow from USD 90.23 Mn in 2017 to USD 300 Mn by 2023- end . The global solar panel recycling market is mainly driven by the growing demand for solar energy , which has driven the production of new solar panels , making the old ones redundant . The growing demand for solar power all over the world is likely to be a major driver for the global solar panel recycling market over the forecast period .
Solar panel recycling has emerged as a vital need for the future due to the growing reliance on solar power as a viable renewable energy source . The growing demand for exploiting solar power to the full has led to rapid innovation in solar panels , leading to regular product enhancements . While this has helped the solar energy industry by allowing widespread installation of the latest tech , it has also created the problem of a growing volume of solar panel waste .
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 .
The growth of the solar energy industry is likely to reflect on the expansion of the solar panel recycling market . The rising awareness about the environmental effects of solar power is likely to propel the growth of the global market over the next couple of years . However , the expensive energy storage remains an impediment to the market growth .
Competitive Dashboard :
Some of the key players profiled in the report are Yingli Energy Co , Reclaim PV Recycling , Zorlu Holding , Silcontel , First Solar , Canadian Solar Inc , Reiling GmbH & Co , ECS Refining LLC , Rinovasol Group , and Silrec Corporation .
Segmental 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 Analysis :