Solar panel recycling market to grow by a CAGR of 26.97% from 2022 to 2027; Growth in solar PV Panel installation to boost the market growth - Technavio

NEW YORK, Aug. 17, 2023 /PRNewswire/ -- The global solar panel recycling market size is set to grow by USD 417.08 million and it is progressing at a CAGR of 26.97% between 2022 and 2027. Download a Sample Report

The solar panel recycling market covers the following areas:

• Solar panel recycling market Sizing
• Solar panel recycling market Forecast
• Solar panel recycling market Analysis

Company Landscape

The solar panel recycling market is diverse and has several international and domestic players. The market is characterized by high capital investments and continuous innovations for improving the efficiency of solar energy storage systems. The declining prices of solar energy and rising stringent carbon emissions regulations render the solar panel recycling market attractive for investors. The key companies in the market include Recycle Solar Technologies Ltd., Canadian Solar, ENVARIS, Veolia Environnement SA, and others. The top companies in the market have been selected based on our perception of their importance in the development of the solar panel recycling market during the forecast period.

Company Offerings 

• First Solar Inc.: The company offers solar panel recycling solutions such as solar modules, inverters and frames.
• NPC Inc.: The company offers solar panel recycling solutions for closed-loop semiconductor recovery.
• Reclaim PV Recycling Pty Ltd.: The company offers solar panel recycling solutions for crystalline panels with back sheet.

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Solar Panel Recycling Market - Market Segmentation

• The market share growth by the crystalline segments will be significant during the forecast period. Crystalline photovoltaic panels are the most commonly used PV solar panels in the world due to their outstanding cell efficiency, long life, and compact design. Furthermore, the final recycling method is to separate the metal from the silicon cell by removing the metal frame, terminal block, and encapsulation from the multilayer structure. With their high efficiency and reliability, crystalline solar panels have been widely adopted and recent advances in their recycling methods are expected to boost the growth of the solar panel recycling market in the forecast period.

Solar Panel Recycling Market - Regional Market Outlook

• Europe is estimated to be the largest region that contributes to market growth during the forecast period. Germany, Italy, and France were the key contributing countries to the solar panel recycling market in Europe. The market in the region is governed by regulations on waste management of solar panels through the European WEEE directive, second-hand facilities, and efficient recycling processes. Germany has seen an increase in demand for solar power systems since the 1990s, supported by residential installation measures and electricity tariffs. With more than 13% of the world's cumulative installed cAPACity by 2021, Germany is expected to generate a significant amount of PV solar panel waste. Innovations such as a 650 MW solar park near Leipzig are continuing to drive demand for solar panel recycling in Germany. Thus, such factors will drive the growth of the market in this region. 

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Companies Mentioned 

• Canadian Solar Inc.
• Cleanites Recycling
• ENVARIS GmbH
• First Solar Inc.
• NPC Inc.
• Reclaim PV Recycling Pty Ltd.
• Recycle Solar Technologies Ltd.
• Reiling GmbH and Co. KG
• Rinovasol Global Services BV
• SiC Processing GmbH
• SILCONTEL Ltd.
• Silrec Corp.
• Solarcycle Inc.
• SunPower Corp.
• The Activ Group Solutions Pty Ltd
• Veolia Environnement SA
• We Recycle Solar
• Yingli Green Energy Holding Co. Ltd.
• Aurubis AG
• Trina Solar Co. Ltd.

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession  
• Global competitiveness and key competitor positions  
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report! 

Solar panel recycling market - Market Dynamics 

Key Driver 

Growth in solar PV panel installation is the key factor driving the growth of the market. Factors such as government tax credits, clean energy initiatives like the 2015 Paris Agreement, and the falling cost of solar panels are driving the growth of solar panel installations. Furthermore, factors such as favorable regulations, increased investment, and unprecedented market dynamics in countries like China are expected to further boost solar panel installations in the coming years. Therefore, with the increase in solar panel installations, the demand for solar panels will increase, which will drive the growth of the solar panel recycling market during the forecast period. 

Leading Trend 

Increasing investment in renewable energy sources is a primary trend in the market. Solar and wind energy systems are reducing costs, fueling their rapid growth in the global energy mix. Renewable energy is expected to fill demand in various sectors, with global energy investment expected to reach USD 1.9 trillion by 2021. China leads in spending for solar power, providing access to financing for distributed photovoltaic projects and solar energy efficiency initiatives. Government support and investment are driving the adoption of solar and wind power, leading to an increase in solar panel waste and driving the growth of the solar panel recycling market during the forecast period.

Significant Challenge 

Intermittency in solar power generation is the challenge that affects the growth of the market. The average efficiency of solar panels is about 18.3% in 2020. As solar technology develops, its conversion rate cannot match fossil fuels due to the change variations in sunlight and geographical differences. Solar discontinuity creates a significant challenge to solar power adoption and subsequently impedes the growth of the solar panel recycling market during the forecast period. 

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Table of Contents 

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Compny Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of companies included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (USD million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (USD million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global solar panel recycling market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global solar panel recycling market 2017 - 2021 (USD million)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 (USD million)

• 4.3 Process Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Process Segment 2017 - 2021 (USD million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (USD million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (USD million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Crystalline - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Crystalline - Market size and forecast 2022-2027 (USD million)
• Exhibit 35: Data Table on Crystalline - Market size and forecast 2022-2027 (USD million)
• Exhibit 36: Chart on Crystalline - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Crystalline - Year-over-year growth 2022-2027 (%)

• 6.4 Thin film - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Thin film - Market size and forecast 2022-2027 (USD million)
• Exhibit 39: Data Table on Thin film - Market size and forecast 2022-2027 (USD million)
• Exhibit 40: Chart on Thin film - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Thin film - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Product 
• Exhibit 42: Market opportunity by Product (USD million)
• Exhibit 43: Data Table on Market opportunity by Product (USD million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 44: Chart on Type - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 46: Chart on Comparison by Type
• Exhibit 47: Data Table on Comparison by Type

• 7.3 Thermal - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Thermal - Market size and forecast 2022-2027 (USD million)
• Exhibit 49: Data Table on Thermal - Market size and forecast 2022-2027 (USD million)
• Exhibit 50: Chart on Thermal - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Thermal - Year-over-year growth 2022-2027 (%)

• 7.4 Mechanical - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Mechanical - Market size and forecast 2022-2027 (USD million)
• Exhibit 53: Data Table on Mechanical - Market size and forecast 2022-2027 (USD million)
• Exhibit 54: Chart on Mechanical - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Mechanical - Year-over-year growth 2022-2027 (%)

• 7.5 Laser - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Laser - Market size and forecast 2022-2027 (USD million)
• Exhibit 57: Data Table on Laser - Market size and forecast 2022-2027 (USD million)
• Exhibit 58: Chart on Laser - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Laser - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Type 
• Exhibit 60: Market opportunity by Type (USD million)
• Exhibit 61: Data Table on Market opportunity by Type (USD million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 (USD million)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 (USD million)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027 
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 (USD million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 (USD million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 (USD million)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 (USD million)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 (USD million)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (USD million)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 (USD million)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 (USD million)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 Germany - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Germany - Market size and forecast 2022-2027 (USD million)
• Exhibit 88: Data Table on Germany - Market size and forecast 2022-2027 (USD million)
• Exhibit 89: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.9 Japan - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Japan - Market size and forecast 2022-2027 (USD million)
• Exhibit 92: Data Table on Japan - Market size and forecast 2022-2027 (USD million)
• Exhibit 93: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.10 US - Market size and forecast 2022-2027 
• Exhibit 95: Chart on US - Market size and forecast 2022-2027 (USD million)
• Exhibit 96: Data Table on US - Market size and forecast 2022-2027 (USD million)
• Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.11 Italy - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Italy - Market size and forecast 2022-2027 (USD million)
• Exhibit 100: Data Table on Italy - Market size and forecast 2022-2027 (USD million)
• Exhibit 101: Chart on Italy - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Italy - Year-over-year growth 2022-2027 (%)

• 9.12 China - Market size and forecast 2022-2027 
• Exhibit 103: Chart on China - Market size and forecast 2022-2027 (USD million)
• Exhibit 104: Data Table on China - Market size and forecast 2022-2027 (USD million)
• Exhibit 105: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography (USD million)
• Exhibit 108: Data Tables on Market opportunity by geography (USD million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Compny Landscape

• 11.1 Overview

• 11.2 Compny landscape
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 112: Impact of key risks on business

12 Compny Analysis

• 12.1 Companies covered
• Exhibit 113: Companies covered

• 12.2 Market positioning of companies
• Exhibit 114: Matrix on companies position and classification

• 12.3 Cleanites Recycling
• Exhibit 115: Cleanites Recycling - Overview
• Exhibit 116: Cleanites Recycling - Product / Service
• Exhibit 117: Cleanites Recycling - Key offerings

• 12.4 ENVARIS GmbH
• Exhibit 118: ENVARIS GmbH - Overview
• Exhibit 119: ENVARIS GmbH - Product / Service
• Exhibit 120: ENVARIS GmbH - Key offerings

• 12.5 First Solar Inc.
• Exhibit 121: First Solar Inc. - Overview
• Exhibit 122: First Solar Inc. - Business segments
• Exhibit 123: First Solar Inc. - Key offerings
• Exhibit 124: First Solar Inc. - Segment focus

• 12.6 NPC Inc.
• Exhibit 125: NPC Inc. - Overview
• Exhibit 126: NPC Inc. - Product / Service
• Exhibit 127: NPC Inc. - Key offerings

• 12.7 Reclaim PV Recycling Pty Ltd. 
• Exhibit 128: Reclaim PV Recycling Pty Ltd. - Overview
• Exhibit 129: Reclaim PV Recycling Pty Ltd. - Product / Service
• Exhibit 130: Reclaim PV Recycling Pty Ltd. - Key offerings

• 12.8 Recycle Solar Technologies Ltd. 
• Exhibit 131: Recycle Solar Technologies Ltd. - Overview
• Exhibit 132: Recycle Solar Technologies Ltd. - Product / Service
• Exhibit 133: Recycle Solar Technologies Ltd. - Key offerings

• 12.9 Reiling GmbH and Co. KG 
• Exhibit 134: Reiling GmbH and Co. KG - Overview
• Exhibit 135: Reiling GmbH and Co. KG - Product / Service
• Exhibit 136: Reiling GmbH and Co. KG - Key offerings

• 12.10 Rinovasol Global Services BV 
• Exhibit 137: Rinovasol Global Services BV - Overview
• Exhibit 138: Rinovasol Global Services BV - Product / Service
• Exhibit 139: Rinovasol Global Services BV - Key offerings

• 12.11 SILCONTEL Ltd.
• Exhibit 140: SILCONTEL Ltd. - Overview
• Exhibit 141: SILCONTEL Ltd. - Product / Service
• Exhibit 142: SILCONTEL Ltd. - Key offerings

• 12.12 Silrec Corp.
• Exhibit 143: Silrec Corp. - Overview
• Exhibit 144: Silrec Corp. - Product / Service
• Exhibit 145: Silrec Corp. - Key offerings

• 12.13 Solarcycle Inc.
• Exhibit 146: Solarcycle Inc. - Overview
• Exhibit 147: Solarcycle Inc. - Product / Service
• Exhibit 148: Solarcycle Inc. - Key offerings

• 12.14 The Activ Group Solutions Pty Ltd 
• Exhibit 149: The Activ Group Solutions Pty Ltd - Overview
• Exhibit 150: The Activ Group Solutions Pty Ltd - Product / Service
• Exhibit 151: The Activ Group Solutions Pty Ltd - Key offerings

• 12.15 Veolia Environnement SA 
• Exhibit 152: Veolia Environnement SA - Overview
• Exhibit 153: Veolia Environnement SA - Business segments
• Exhibit 154: Veolia Environnement SA - Key news
• Exhibit 155: Veolia Environnement SA - Key offerings
• Exhibit 156: Veolia Environnement SA - Segment focus

• 12.16 We Recycle Solar
• Exhibit 157: We Recycle Solar - Overview
• Exhibit 158: We Recycle Solar - Product / Service
• Exhibit 159: We Recycle Solar - Key offerings

• 12.17 Yingli Green Energy Holding Co. Ltd. 
• Exhibit 160: Yingli Green Energy Holding Co. Ltd. - Overview
• Exhibit 161: Yingli Green Energy Holding Co. Ltd. - Business segments
• Exhibit 162: Yingli Green Energy Holding Co. Ltd. - Key offerings
• Exhibit 163: Yingli Green Energy Holding Co. Ltd. - Segment focus

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