Solar Panel Recycling Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 18.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Solar Panel Recycling Market Analysis
The global solar power recycling market is expected to register a CAGR of more than 18% during 2020-2025. Factors, such as rising environmental concerns and government policies for safe disposal of solar panels, are expected to be major factors driving the market. However, lack of general awareness and interest in the developing nations of the Asia-Pacific region are expected to restrain the market's growth.
The crystalline silicon segment is expected to dominate the market for solar panel recycling, due to higher number of installations, globally.
The aging older installations are expected to act as an opportunity for the solar panel recycling market.
The Asia-Pacific region is expected to be the largest and the fastest growing market, owing to the largest share in terms of solar power generation and the presence of manufacturing and technology hubs, such as China and Japan.
Solar Panel Recycling Market Trends
This section covers the major market trends shaping the Solar Panel Recycling Market according to our research experts:
Crystalline Silicon to Dominate the Market
Globally, solar power generation increased from 33.7 TWh in 2010 to 584.6 in 2018, and it is expected to witness a significant growth over the forecast period. Out of this, over 90% of the installations are of crystalline silicon type.
These modules are built using crystalline silicon solar cells, which are developed using the microelectronics technology. The two types of crystalline silicon solar cells used in crystalline silicon photovoltaic are monocrystalline silicon and polycrystalline silicon.
In the European Union, the legislation (Directive 2002/96/EC on WEEE) was formulated to create collection schemes where consumers return their used waste equipment free of charge. The directive is aimed at increasing the recycling and/or re-use of such products. The target set by the directive includes the collection of 4 kilograms of such waste per year per inhabitant for waste electrical and electronic equipment (WEEE) from households.
China started the PV recycling and safety disposal research program. Moreover, the country drafted various rules and regulations for solar panel recycling.
The above-mentioned factors are expected to drive the demand for solar panel recycling over the study period.
Asia-Pacific to Dominate the Market Growth
The Asia-Pacific region is expected to witness the fastest growth rate in the solar panel recycling market, with China being the largest market.
With the rising pollution concerns and industrialization, especially in Asia-Pacific, the regional solar power generation capacities gained considerable momentum.
The Chinese solar power market is expected to dominate, in terms of utility, and the country is seeking to boost the demand for rooftop solar installations. The electricity market has been deregulated in the country, and distribution-grid-connected (DGC) generators were allowed to sell the power directly to the commercial and industrial consumers.
Countries, such as China and India, are some of the major solar power generating countries in the region, along with a large amount of installations for solar panels.
China manufactures over 45% of the solar panels, globally. Furthermore, the solar panel recycling market is gaining momentum, owing to the older and aging installed infrastructure.
Owing to the above-mentioned factors, the demand for solar panel recycling has been increasing over the study period.
Solar Panel Recycling Industry Overview
The global solar panel recycling market is fragmented due to the presence of numerous players. Some of the major companies include Trina Solar, Sharp Corporation, First Solar, JA Solar Co., Ltd, Canadian Solar Inc., and Renesola, among others
Solar Panel Recycling Market Leaders
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Trina Solar
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Sharp Corporation
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First Solar Inc.
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Sunpower Corporation
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Reiling Group
*Disclaimer: Major Players sorted in no particular order
Solar Panel Recycling Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion, till 2025
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
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4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
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4.7 Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitutes Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Process
- 5.1.1 Thermal
- 5.1.2 Mechanical
- 5.1.3 Laser
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5.2 Type
- 5.2.1 Crystalline Silicon
- 5.2.2 Thin Film
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5.3 Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia-Pacific
- 5.3.4 South America
- 5.3.5 Middle East & Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
- 6.3.1 Canadian Solar Inc.
- 6.3.2 First Solar Inc.
- 6.3.3 Hanwha Group Co. Ltd
- 6.3.4 JA Solar Co. Ltd
- 6.3.5 Reclaim PV Recycling Pty Ltd
- 6.3.6 Reiling Group
- 6.3.7 Renesola
- 6.3.8 Sharp Corporation
- 6.3.9 SunPower Corporation
- 6.3.10 Trina Solar
- 6.3.11 Yingli Energy Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Solar Panel Recycling Industry Segmentation
The solar panel recycling market report includes:
| Process | Thermal |
| Mechanical | |
| Laser | |
| Type | Crystalline Silicon |
| Thin Film | |
| Geography | North America |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East & Africa |
Solar Panel Recycling Market Research FAQs
What is the current Solar Panel Recycling Market size?
The Solar Panel Recycling Market is projected to register a CAGR of greater than 18% during the forecast period (2024-2029)
Who are the key players in Solar Panel Recycling Market?
Trina Solar , Sharp Corporation , First Solar Inc., Sunpower Corporation and Reiling Group are the major companies operating in the Solar Panel Recycling Market.
Which is the fastest growing region in Solar Panel Recycling Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Solar Panel Recycling Market?
In 2024, the Europe accounts for the largest market share in Solar Panel Recycling Market.
What years does this Solar Panel Recycling Market cover?
The report covers the Solar Panel Recycling Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Solar Panel Recycling Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Which segment holds the maximum share of the Solar Panel Recycling Market?
The crystalline silicon type segment holds the maximum share of the Solar Panel Recycling Market.
Solar Panel Recycling Industry Report
The global solar panel recycling market is witnessing significant growth, propelled by the surge in solar energy adoption and the imperative for sustainable waste management. Dominated by thermal and mechanical processes for their material recovery efficiency, the market sees crystalline silicon panels leading due to their prevalence and superior efficiency. Europe stands out for its rigorous environmental laws and renewable energy emphasis. Challenges like insufficient recycling infrastructure and lack of regulatory support persist, yet the sector is on the brink of expansion, driven by initiatives to minimize carbon footprints and escalate renewable energy investments. Innovations in recycling technology and heightened awareness of solar waste's environmental impact promise substantial growth opportunities. Mordor Intelligence™ Industry Reports highlight the market's dynamic expansion, offering insights into share, size, revenue growth, and a forecast outlook. For a comprehensive understanding, access a free report PDF download, encapsulating the market's historical and projected performance.
