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The Global Solar Panel Recycling Market is estimated to grow at a CAGR of around 12.45% during the forecast period, i.e., 2023-28.
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MARKET RESEARCH REPORT Global Solar Panel Recycling Market Research Report: Forecast (2023-2028) • UPDATED SAMPLE 2024-30 • MARKNTEL ADVISORS
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Market Insights The Global Solar Panel Recycling Market is estimated to grow at a CAGR of around 12.45% during the forecast period, i.e., 2023-28. The market growth imputes to the rapid growth in solar energy installations across the globe. This led to an increase in the volume of decommissioned or end-of-life solar panels. As solar panels reach the end of their operational life, there is a growing need for efficient & environmentally responsible recycling solutions. Without proper recycling, many end-of-life solar panels could end up in landfills, contributing to the growing electronic waste problem globally.
Market Drivers • Growing Utility-Scale PV Projects to Foster Market Growth – Utility-scale solar projects across the globe have been increasing due to the advancement in technologies, declining costs of solar PV technologies, and supportive government policies. In 2022, according to the International Energy Agency, Solar PV is forecasted to account for 60% of the growth in global renewable capacity in 2022 with the commissioning of 190 GW, a 25% gain from last year. • In this, utility-scale projects, account for almost two-thirds of overall PV expansion in 2022. However, these rising deployments further expand solar PV waste globally & pose a significant environmental challenge. These challenges are creating an unprecedented demand for the solar panel recycling market in recent years to reduce the environmental impact of renewable resources in the forthcoming years.
Market Segments By Process (Thermal, Mechanical, Laser), By Type (Crystalline Silicon, Thin Film), By Source (Residential, Commercial & Industrial, Power Utility), By Service Providers (OEM, In house Recycling), By Region (North America, South America, Europe, Asia Pacific, Rest of the World),
Top Companies • Trina Solar Co, Ltd., First Solar Inc., Sunpower Corporation, Aurubis AG , Canadian Solar, Sharp Corporation, Reiling Group, Hanwha Group, Silrec Corporation, Cleanlites Recycling, ROSI Solar, Aerisoul Metal & Energy Corporation, Others
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