Solar Panel Recycling Market to Rear Excessive Growth During 2030 - FIRST SOLAR, SILREC CORP, ENVARIS, TRINA SOLAR, etc.

New Investments Expected to Boost the Solar Panel Recycling Market Between 2021 And 2030

WILMINGTON, DELAWARE, UNITED STATES, April 24, 2024 /EINPresswire.com/ -- The solar panel recycling market is anticipated to witness considerable growth during the forecast period. This is attributed to factors such as the rise in demand for solar photovoltaic panels from residential, commercial, and industrial applications. In addition, an increase in government activities toward the production of solar energy across the globe fuels the growth of the market. However, the lack of solar panel recycling infrastructure and problems associated with recycling are restraining the growth of the market globally. Conversely, rapid growth and investment in the solar energy industry in economies such as China, Japan, India, and South Korea are anticipated to provide potential solar panel recycling market opportunities in the upcoming years. The solar panel recycling market size was valued at $139.7 million in 2020 and is projected to reach $478.6 million by 2030, growing at a CAGR of 13.1% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/14606

The solar panels at the end of life are collected and recycled by the solar panel recycling companies or solar panel manufacturers. The solar panel recycling industry is at a developing stage, but with the rapid growth of the solar power market, there is a rise in demand for solar panel recycling in the coming years. There are various methods of solar panel recycling including thermal, mechanical, and laser. In Europe, the solar panel recycling market is more advanced than in other regions including Asia-Pacific, LAMEA, and North America. This is owing to regulatory measures and policies adopted by the European region in the recycling of solar panels.

The rapid growth of the solar energy industry is expected to drive the growth of the market during the forecast period. In addition, an increase in installations of solar panels in various applications including power generation, transportation, water heating, and others is further anticipated to fuel the growth of the solar panel recycling market during the analyzed time frame. Moreover, favorable government measures including incentives have also been introduced to promote the adoption of various solar energy technologies such as crystalline silicon and thin film. For instance, in 2019, the U.S. government introduced solar tax credit to reduce the cost of installing a solar energy system by 30.0%. In addition, declining prices, improvements in conversion efficiencies, and growing efforts toward advancements in solar panels are projected to propel the growth of the solar energy industry which in turn is projected to drive the market from 2021 to 2030.

Depending on the process, the thermal segment held the highest market share of about 68.9% in 2020 and is expected to maintain its dominance during the solar panel recycling market forecast period. This is owing to benefits associated with thermal process in solar panel recycling which recovers more than 84.0% of solar panels weight and can also recycle up to 98.0% unbroken cells depending on the conditions of the solar modules and the thickness of the solar cells. In addition, the rapid growth of the solar panel sector is expected to drive the remarkable growth of the market during the forecast period.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/14606

Based on type, the crystalline silicon segment holds the largest share, in terms of revenue, and is expected to maintain its dominance during the forecast period. This growth is attributed to a rise in demand for crystalline silicon in standalone PV systems such as solar street light lamps and telecommunication & signaling towers where solar panels are used to charge batteries.

In addition, an increase in government initiatives for the adoption of solar energy is expected to drive demand for crystalline silicon type which in turn is anticipated to fuel the solar panel recycling market growth from 2021 to 2030.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The Solar Panel Recycling industry's key market players adopt various strategies such as product launches, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐒𝐨𝐥𝐚𝐫 𝐏𝐚𝐧𝐞𝐥 𝐑𝐞𝐜𝐲𝐜𝐥𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,

ENVARIS GMBH
TRINA SOLAR
HANWHA GROUP
SILREC CORPORATION
REILING GMBH & CO. KG
CANADIAN SOLAR
AURUBIS AG
SUNPOWER CORPORATION
FIRST SOLAR
ECHO ENVIRONMENTAL, LLC

Based on region, the market is analyzed across four major regions such as North America, Europe, Asia-Pacific, and LAMEA. Europe garnered the dominant share in 2020 and is anticipated to maintain this dominance in the solar panel recycling market trend during the forecast period. This is attributed to the presence of key players and a huge consumer base in the region.

In addition, the demand for solar panel installation has increased significantly across the UK, Germany, Spain, and Italy owing to a surge in demand for distributed energy systems in the region which in turn is anticipated to drive the growth of the solar panel recycling market in the European from 2021 to 2030.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/14606

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲:

- In 2020, the thermal segment accounted for about 68.9% of the share in the global solar panel recycling market and is expected to maintain its dominance till the end of the forecast period.
- In 2020, the mechanical segment accounted for 23.9% solar panel recycling market share in the year 2020, and is anticipated to grow at a rate of 13.4% in terms of revenue, increasing its share in the global market.
- Thin film is the fastest-growing type segment in the global solar panel recycling market, expected to grow at a CAGR of 14.6% during 2021–2030.
- Europe is expected to grow at the fastest rate, registering a CAGR of 13.7%, throughout the forecast period.
- In 2020, Europe dominated the global solar panel recycling market with more than 43.2% of the share, in terms of revenue.

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐄𝐧𝐞𝐫𝐠𝐲 𝐚𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝟏. 𝐓𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭𝐚𝐭𝐢𝐨𝐧 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐑𝐞𝐜𝐲𝐜𝐥𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2022/08/11/2497247/0/en/Transportation-Battery-Recycling-Market-to-Generate-9-95-Billion-by-2030-Allied-Market-Research.html

𝟐. 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐑𝐞𝐜𝐲𝐜𝐥𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2022/03/22/2407493/0/en/Battery-Recycling-Market-to-Generate-66-6-Billion-by-2030-Allied-Market-Research.html

𝟑. 𝐍𝐮𝐜𝐥𝐞𝐚𝐫 𝐖𝐚𝐬𝐭𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.prnewswire.com/news-releases/nuclear-waste-management-market-to-reach-5-7-billion-globally-by-2032-at-1-9-cagr-allied-market-research-301892802.html

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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