NEW YORK, Feb. 27, 2019 /PRNewswire/ -- Global Solar Panel Recycling Market By Type (Monocrystalline, Polycrystalline, Thin Film & Others), By Process (Thermal, Mechanical, Laser), By Shelf Life (Normal Loss, Early Loss), By Region, Competition, Forecast & Opportunities, 2024
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Global solar panel recycling market is projected to grow at a robust double digit CAGR of around 20% to cross $ 300 million by 2024, owing to increasing adoption of solar power as a source of energy and favorable government regulations supporting sustainable development.Recycling solar panels is a relatively complex task, as these panels contain different types of materials which need to be separated to be properly recycled.
Solar panel recycling has both tremendous environmental and economic benefits.
Growing energy crisis, high rate of carbon emissions, and increasing concerns about environmental protection have stimulated the need for sustainable power generation, globally. The growing number of pacts and initiatives related to the implementation of solar energy projects, across the world, is the main factor supporting the increased installation of solar panels or PV modules, which, in turn, is driving the solar panel recycling market.
In terms of type, solar panel recycling market is categorized into monocrystalline, polycrystalline, thin film & others.Of these types, monocrystalline dominated the global market in 2018 and is expected to register a healthy growth rate during the forecast period.
The wide adoption of monocrystalline solar panels is resulting in them ending up for recycling more than any of the other solar panel types and thereby driving the solar panel recycling market for the monocrystalline type.
Regionally, Asia-Pacific solar panel recycling market is expected to grow at the fastest rate.Growing environment sustainability concerns and cost advantages of solar panel recycling in emerging economies, such as China and India, are expected to aid the region's solar panel recycling market in the coming years.
Moreover, North America is anticipated to register significant growth in solar panel recycling market during the forecast period. Backed by increasing use of solar PV panels coupled with stringent recycling regulations, United States solar panel recycling market is likely to exhibit robust growth.
Global solar panel recycling market is fragmented, owing to the presence of several established and regional vendors.Increasing R&D activities are leading to the development of more efficient recycling techniques, thus boosting the value addition from recycled materials.
Moreover, this is resulting in high market competition, which is expected to further intensify in the coming years. Few of the major companies operating in global solar panel recycling market are Silcontel Ltd., Rinovasol Group, Reiling GmbH & Co. KG, ENVARIS GmbH and ECS Refining LLC.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
• To analyze and forecast global solar panel recycling market size, in terms of value.
• To forecast global solar panel recycling market based on type, process, shelf life and regional distribution.
• To identify drivers and challenges for global solar panel recycling market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in global solar panel recycling market.
• To conduct the pricing analysis for global solar panel recycling market.
• To identify and analyze the profile of leading players operating in global solar panel recycling market.
Some of the leading players in global solar panel recycling market are Silcontel Ltd., Rinovasol Group, Reiling GmbH & Co. KG, ENVARIS GmbH, ECS Refining LLC, Reclaim PV Recycling Pty Ltd., Silrec Corporation, Canadian Solar Inc., Yingli Green Energy Holding Company Limited and First Solar Inc.
The publisher performed both primary as well as exhaustive secondary research for this study.Initially, the publisher sourced a list of solar panel manufacturers and solar panel recycling vendors across the globe.
Subsequently, the publisher conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the publisher was able to include the solar panel recycling providers which could not be identified due to the limitations of secondary research. the publisher analyzed the service offerings, distribution channels and presence of all major vendors across the globe.
The publisher calculated global solar panel recycling market size using a top down approach, where data for various application across various end-user segments was recorded and forecast for the future years.the publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the publisher.
Key Target Audience:
• Solar panel manufacturers, distributors, suppliers and other stakeholders
• Solar panel recycling companies
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to solar panel recycling market
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, vendors and end users. The study would also help them in identifying which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market.
In this report, global solar panel recycling market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, by Process:
• Market, by Type:
• Thin Film & Others
• Market, by Shelf Life:
• Normal Loss
• Early Loss
• Market, by Region:
• North America
• South America
• Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global solar panel recycling market.
With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.
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