Solar Panel Recycling Market - Forecasts from 2018 to 2023
Solar Panel Recycling market was valued at US$168.143 million in 2017 and is projected to expand at a CAGR of 42.05% over the forecast period to reach US$1381.509 million by 2023. Solar power is the fastest growing source of renewable energy among all the other renewable energy sources. Rising energy prices coupled with high levels of pollution has led to a boom in the use of solar panels across the globe, especially in China and the U.S. According to the World Energy Council, global solar installed capacity rose from 68.8 GW in 2011 to 227 GW in 2016. Declining prices of solar panels and supportive government policies and initiatives as a move toward cleaner, reliable, and affordable sources of electricity are significantly boosting the adoption of solar energy across the globe. However, most countries do not have a robust recycling infrastructure for solar panels. According to a report by the International Renewable Energy Agency (IRENA), the total volume of accumulated global photovoltaic panel waste is estimated to reach to around 60 to 78 million tons by 2050. As a result, there will be a burgeoning demand for solar panel recycling plants and solutions worldwide in the coming years.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study has been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the solar panel recycling value chain. Last step involves complete market engineering which includes analysing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report Yingli Solar, Reclaim PV Recycling, SRS, and First Solar among others.
The Solar Panel Recycling market is segmented by type of solar panel and geography:
By Type of Solar Panel
Middle East and Africa
Reclaim PV Recycling