Solar Panel Recycling Market Highlights
The initiatives undertaken
by the governments for the reduction in carbon emissions and the adoption of
renewable energy have catapulted the renewable energy industry on an upward
trajectory. This, in turn, has catalyzed the growth in the recycling of solar
panels across the world.
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.
Global Market for Solar Panel Recycling –
Competitive Dashboard:
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.
Segmentation:
The global solar panel recycling
market is segmented on the basis of
type, process, shelf life, and region.
By type, the global solar panel
recycling market is segmented into silicon solar panels, monocrystalline solar
panels, polycrystalline solar panels, and thin film solar panels. Silicon solar
panels dominate the global solar panel recycling market and are likely to
remain the leading revenue generator over the forecast period due to the
widespread adoption of silicon solar panels.
By process, the global solar panel
recycling market is segmented into thermal, mechanical, and laser. Mechanical
recycling is the most popular process in the global solar panel recycling
market and is likely to remain dominant over the forecast period.
By shelf life, the global solar
panel recycling market is segmented into normal loss and early loss. Normal
loss is likely to be the dominant segment in the global solar panel recycling
market over the forecast period.
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. Additionally, the enforcement of favorable legislation for
regulating the recycling processes is poised to drive the expansion of the
market in the foreseeable future.
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. The region is forecasted
to exhibit significant growth over the next couple of years. Rising count of
solar power projects is a major factor responsible for the growth of the solar
panel recycling market in Asia Pacific region.
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