Market Size of Solar Panel Recycling Industry
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 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 Size Summary
The solar panel recycling market is poised for significant growth, driven by increasing environmental concerns and supportive government policies aimed at the safe disposal of solar panels. The market is primarily propelled by the need to manage the waste generated from aging solar installations, particularly those using crystalline silicon, which dominate global installations. Despite these positive trends, the market faces challenges in developing regions, such as Asia-Pacific, where awareness and interest in recycling initiatives are still low. However, the region is expected to emerge as the largest and fastest-growing market due to its substantial share in solar power generation and the presence of key manufacturing hubs like China and Japan.
In Europe, legislative measures such as the WEEE directive are encouraging the recycling and reuse of solar panels, while China is actively pursuing research and regulatory frameworks to enhance recycling efforts. The Chinese market, in particular, is expected to lead in terms of utility and rooftop solar installations, supported by deregulated electricity markets that allow direct power sales to commercial and industrial consumers. The fragmented nature of the global market, with numerous players like Trina Solar, Sharp Corporation, and First Solar, underscores the competitive landscape. As pollution concerns rise and industrialization continues, especially in Asia-Pacific, the demand for solar panel recycling is anticipated to increase, driven by the need to address the challenges posed by older and aging solar infrastructure.
Solar Panel Recycling Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2025
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Process
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2.1.1 Thermal
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2.1.2 Mechanical
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2.1.3 Laser
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2.2 Type
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2.2.1 Crystalline Silicon
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2.2.2 Thin Film
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2.3 Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 South America
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2.3.5 Middle East & Africa
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Solar Panel Recycling Market Size 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.