Solar Panel Recycling Market Size to grow by USD 417.08 million from 2022 to 2027 | Reduction in costs of solar PV systems boosts the market – Technavio

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NEW YORK, July 10, 2023 /PRNewswire/ — The solar panel recycling market size is set to grow by USD 417.08 million between 2022 and 2027, and register an accelerating CAGR of 26.97%, according to Technavio’s latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read the Sample Report

Technavio has announced its latest market research report titled Global Solar Panel Recycling Market 2023-2027

The report also covers the following areas:

  • Solar Panel Recycling Market size
  • Solar Panel Recycling Market trends
  • Solar Panel Recycling Market industry analysis

Solar Panel Recycling Market 2023-2027: Segmentation

The solar panel recycling market is segmented as follows:

  • Product 
    • Crystalline
    • Thin Film
  • Type 
    • Thermal
    • Mechanical
    • Laser
  • Geography 
    • Europe
    • APAC
    • North America
    • Middle East And Africa
    • South America

The market share growth by the crystalline segment will be significant during the forecast period. Factors such as superior cell efficiencies, long lifespans, and compact designs are significantly fuelling the demand for crystalline PV segments globally. According to the IEA reports, crystalline PV accounts for 90% of the market share, making it the most dominant solar PV technology. The main kinds of crystalline silicon by which it is manufactured include monocrystalline and polycrystalline. Both types are used for capturing solar energy and transforming it into electricity. Hence, such factors are expected to drive market growth during the forecast period.

Detail Insights on impact of each segment and make informed business decisions: request a sample report now!

Solar Panel Recycling Market 2023-2027: Vendor Analysis and Scope

The solar panel recycling market is fragmented, and the degree of fragmentation will accelerate. To help businesses improve their market position, the solar panel recycling market provides a detailed analysis of around 15+ vendors operating in the market. Some of these vendors include 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, and Trina Solar Co. Ltd.

Vendor Offering

  • ENVARIS GmbH: The company offers solar panel recycling solutions for consumer and commercial fields.
  • 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.

Solar Panel Recycling Market 2023-2027: Market Dynamics

Key Drivers

The reduction in costs of solar PV systems drives market growth. There is an increasing adoption of solar PVs as it is considered a cost-effective power generation source. Furthermore, there is an increasing growth of solar PVs globally due to the factors such as declining costs, government initiatives, and subsidies, as well as competitive bidding processes. Moreover, the rising demand for clean energy, especially in countries like India and China is expected to drive market growth during the forecast period.

Major Trends

Rising investment in renewable energy sources is a primary trend in the market. There is an increasing demand for renewable energy sources as it is crucial for achieving a sustainable and low-carbon environment. Furthermore, the rapid growth of solar PV and wind energy in the global energy mix has led to a significant cost reduction of these power systems. It is expected that renewables are able to fulfill the growing energy demand, especially from the heat, transportation, and electricity sectors. Hence, such factors are expected to drive market growth during the forecast period.

Significant Challenges

Intermittency in solar power generation can pose a significant challenge impeding the market growth. Factors such as solar irradiation, panel efficiency, and shading, differ across geographic locations and climates which significantly influence the solar output. Even though solar PV panels produce peak power during mid-day under optimal conditions, it needs secondary power sources like batteries, wind or grid power, or hybrid generators during the off-season or at night. Hence, such factors are expected to hinder market growth during the forecast period.

What’s New? –

  • Special coverage on the RussiaUkraine 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 2023-2027: Key Highlights

  • CAGR of the market during the forecast period 2023-2027
  • Detailed information on factors that will assist solar panel recycling market growth during the next five years
  • Estimation of the solar panel recycling market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the solar panel recycling market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of solar panel recycling market vendors

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Solar Panel Recycling Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 26.97%

Market growth 2023-2027

USD 417.08 million

Market structure

Fragmented

YoY growth 2022-2023(%)

25.06

Regional analysis

Europe, APAC, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 38%

Key countries

US, Japan, China, Germany, and Italy

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

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, and Trina Solar Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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 Vendor 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 vendors 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 ($ million)
    • Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ 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 ($ million)
  • 4.2 Product Segment Analysis 2017 – 2021
    • Exhibit 19: Historic Market Size – Product Segment 2017 – 2021 ($ million)
  • 4.3 Process Segment Analysis 2017 – 2021
    • Exhibit 20: Historic Market Size – Process Segment 2017 – 2021 ($ million)
  • 4.4 Geography Segment Analysis 2017 – 2021
    • Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
  • 4.5 Country Segment Analysis 2017 – 2021
    • Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ 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 ($ million)
    • Exhibit 35: Data Table on Crystalline – Market size and forecast 2022-2027 ($ 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 ($ million)
    • Exhibit 39: Data Table on Thin film – Market size and forecast 2022-2027 ($ 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 ($ million)
    • Exhibit 43: Data Table on Market opportunity by Product ($ 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 ($ million)
    • Exhibit 49: Data Table on Thermal – Market size and forecast 2022-2027 ($ 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 ($ million)
    • Exhibit 53: Data Table on Mechanical – Market size and forecast 2022-2027 ($ 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 ($ million)
    • Exhibit 57: Data Table on Laser – Market size and forecast 2022-2027 ($ 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 ($ million)
    • Exhibit 61: Data Table on Market opportunity by Type ($ 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 ($ million)
    • Exhibit 68: Data Table on Europe – Market size and forecast 2022-2027 ($ 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 ($ million)
    • Exhibit 72: Data Table on APAC – Market size and forecast 2022-2027 ($ 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 ($ million)
    • Exhibit 76: Data Table on North America – Market size and forecast 2022-2027 ($ 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 ($ million)
    • Exhibit 80: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ 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 ($ million)
    • Exhibit 84: Data Table on South America – Market size and forecast 2022-2027 ($ 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 ($ million)
    • Exhibit 88: Data Table on Germany – Market size and forecast 2022-2027 ($ 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 ($ million)
    • Exhibit 92: Data Table on Japan – Market size and forecast 2022-2027 ($ 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 ($ million)
    • Exhibit 96: Data Table on US – Market size and forecast 2022-2027 ($ 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 ($ million)
    • Exhibit 100: Data Table on Italy – Market size and forecast 2022-2027 ($ 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 ($ million)
    • Exhibit 104: Data Table on China – Market size and forecast 2022-2027 ($ 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 ($ million)
    • Exhibit 108: Data Tables on Market opportunity by geography ($ 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 Vendor Landscape

  • 11.1 Overview 
  • 11.2 Vendor 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 Vendor Analysis

  • 12.1 Vendors covered 
    • Exhibit 113: Vendors covered
  • 12.2 Market positioning of vendors 
    • Exhibit 114: Matrix on vendor 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

13 Appendix

  • 13.1 Scope of the report 
  • 13.2 Inclusions and exclusions checklist
    • Exhibit 164: Inclusions checklist
    • Exhibit 165: Exclusions checklist
  • 13.3 Currency conversion rates for US$ 
    • Exhibit 166: Currency conversion rates for US$
  • 13.4 Research methodology 
    • Exhibit 167: Research methodology
    • Exhibit 168: Validation techniques employed for market sizing
    • Exhibit 169: Information sources
  • 13.5 List of abbreviations 
    • Exhibit 170: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Global Solar Panel Recycling Market 2023-2027

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