Solar Panel Recycling Market Scenario
The
global solar panel recycling market is expected to exhibit a strong CAGR of 33%
over the forecast period from 2018 to 2023, according to the latest research
report published by Market Research Future (MRFR). 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.
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.
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 Analysis:
Europe
is the major regional market for solar panel recycling technology and is likely
to remain a leading regional player in the global Solar
Panel Recycling Market Share over the forecast period due to the
widespread adoption of solar power in the region. European governments have
been supportive towards the adoption of renewable energy generation projects,
leading to strong prospects for the solar panel recycling market in the region
over the forecast period. Countries such as France could emerge as major players
in the global solar panel recycling market over the forecast period due to the
growing reliance on solar power in these countries.
North
America is also likely to exhibit strong growth over the forecast period due to
the growing demand for newer, more advanced solar panels in the region, which
has led to the generation of a significant volume of solar panel waste.
Asia
Pacific could play a major role in the global solar panel recycling market in
the long run, as the high need for power in this region has led to a growing
use of solar power. This is likely to lead to a widespread need for effective
recycling solutions in a few decades, leading to steady growth of the solar
panel recycling market in the region.
Competitive Analysis:
Leading
players in the global solar panel recycling market include Silrec Corporation,
ECS Refining LLC, Reiling GmbH & Co, Rinovasol Group, Canadian Solar Inc.,
First Solar, Zorlu Holding, Reclaim PV Recycling, Silcontel, and Yingli Energy
Co.
Read More:
https://www.sharepresentation.com/mrfr2341/digital-substation-market-analysis-business-opportunities
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