According to Market Research Future (MRFR)’s new study, the global solar panel recycling market is projected to expand at a CAGR of 33% during the forecast period 2018 to 2023. The market is expected to be valued at USD 300 Mn towards the end of 2023. The strong value maintained by the renewable energy sector coupled with rising investments in solar power generation is likely to catalyze the expansion of the solar panel recycling market over the assessment period.

The swift rate of solar PV installation and rising count of solar power projects have led to a phenomenal volume of decommissioned PV panels. It is forecasted to influence the expansion of the solar panel recycling market positively in the upcoming years. Additionally, the developments and innovations in the solar Advance Technology pose immense potential for revolutionizing the market growth through the assessment period.

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Companies Covered:

Some of the key players operating in the global solar panel recycling market are Yingli Energy Co, Silcontel, Reclaim PV Recycling, Zorlu Holding, First Solar, Canadian Solar Inc, Rinovasol Group, Reiling GmbH & Co, ECS Refining LLC, and Silrec Corporation.

Solar Panel Recycling Market Segmental Analysis:

MRFR’s report offers a comprehensive segmental analysis of the global solar panel recycling market based on type, process, and shelf life.

By type, the market has been segmented into silicon solar panels, monocrystalline solar panels, polycrystalline solar panels, thin-film solar panels.

By process, the solar panel recycling market has been segmented into thermal, mechanical, and laser.

By shelf life, the market has been segmented into normal loss and early loss.

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Regional Outlook:

The global solar panel recycling market, by region, has been segmented into North America, Europe, Asia Pacific, Rest of the World.

Europe is the largest regional market for solar panel recycling and is expected to emerge as the fastest growing region towards the end of the assessment period. The swift inclination towards the adoption of renewable energy backed by the governments is prognosticated to expedite the growth of the solar panel recycling market in the region. Additionally, the enforcement of favorable legislation for regulating the recycling processes is poised to drive the expansion of the market in the foreseeable future.

North America is a promising market and is projected to remain lucrative during the forecast period. The stringent recycling regulations enforced are expected to expedite the proliferation of the solar panel recycling market in the region. Meanwhile, the fast-developing economies of Asia Pacific resonate strong opportunities for growth. The region is forecasted to exhibit significant growth over the next couple of years. Rising count of solar power projects is a major factor responsible for the growth of the solar panel recycling market in Asia Pacific region.

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MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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