Solar Panel Recycling Market Segmentation By Application, Regions, Trends, Share and Size, 2027

Felton, Calif., USA, Feb. 22, 2021 — /EPR Network/ —

The global Solar Panel Recycling Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global solar panel recycling market size is anticipated to value USD 333.8 million until 2027. It is also expected to register a CAGR of 12.8% over the forecasted years, 2020 to 2027. Surging preference for the adoption of renewable energy prevailing among the millennial population is projected to augment market growth.

Key Players:

• First Solar Inc.
• Trina Solar
• Echo Environmental, LLC
• SILCONTEL LTD
• Yingli Solar
• Canadian Solar
• Silrec Corporation
• SunPower Corporation
• Hanwha Group
• Reiling GmbH & Co. KG.
• Aurubis

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Growth Drivers:

Rapid technological advances are being undertaken by the key players for the development of cost-effective and energy saver methods to extract solar energy from the panels. Further, increasing awareness about environmental degradation caused due to usage of conventional energy like fossil fuels and nuclear energy has contributed majorly towards the rising demand for solar panels.

Thus, shifting trend towards the adoption of renewable energy due to less environmental impact is estimated to trigger market growth. Moreover, the reduction in the solar panel prices coupled with an increasing solar photovoltaic module installation is projected to further fuel up the market demand. The market across the U.S. is estimated to register substantial growth in the upcoming years on account of huge investments to conduct R&D activities. Moreover, the generated waste like silicon and glass from photovoltaic modules at the end of shelf-life can be recycled and reused. Thus, the demand for cost-effective and eco-friendly solar panels is increasing at a rapid pace.

Process Outlook:

• Thermal
• Mechanical
• Laser

Product Outlook:

• Monocrystalline
• Polycrystalline
• Thin Film

Shelf Life Outlook:

• Early Loss
• Normal Loss

Regional Outlook:

Europe held the dominant share across the global solar panel recycling market in 2019. It is also projected to witness significant growth over the forecasted period, 2020 to 2027. This can be attributed with the presence of many solar farms in the last few years that will result in replacement demand for solar panels.

The Asia Pacific is estimated to register the fastest growth across the global market over the forecasted years, 2020 to 2027. Rising installations of solar panels across Japan and China are projected to contribute majorly towards the market growth. Further, more number of patent filing in the field of recycling the solar panels across China due to more investments in developing recycling technology is expected to further fuel up the market demand across this region.

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