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Solar Panel Recycling Management Market Future Trends & Growth Forecast To 2024 | First Solar, Envaris, Darfon Electronics Corporation, Rinovasol, Silcontel, IG Solar Private Ltd, Reiling Glass Recycling, ECS Refining, LLC, Canadian Solar
Solar Panel Recycling Management Market
Solar panels can suffer normal losses or early losses. In case of the former, the panels function until the end of their shelf life, after which they are decommissioned, accumulated, and recycled. Solar panel recycling management market share from normal losses is expected to cross USD 300 million by 2024. When solar panels cease to function efficiently due to maintenance issues, technical problems, and unfavorable weather conditions, they are said to suffer early losses, in which case, they are decommissioned earlier than their usual shelf life and then recycled. Solar panel recycling management market from early losses is said to grow at a CAGR of 35% over 2016-2024.
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Solar panels can be recycled by means of thermal, laser, and mechanical processes. The mechanical recycling process is deemed to be one of the safest, owing to which solar panel recycling management industry share from mechanical process will surpass USD 300 million by 2024. Solar panel recycling by thermal process places a strain on the environment due to the presence of excess silicon in the panels. However, with companies striving to innovate environment-friendly thermal procedures, solar panel recycling management industry from thermal process, worth more than USD 1 million in 2015, will grow substantially over 2016-2024.
Thin-film PV cells are extensively adopted for solar panels subject to their excellent quality and affordability, which will in turn, fuel thin film solar cells industry over 2016-2024. Increasing adoption rate of these cells coupled with their most favorable property of longer shelf life will also drive solar panel recycling management market from thin film PV cells, which is anticipated to witness a y-o-y growth rate of more than 40% over 2016-2024.
Polycrystalline solar cells possess excellent properties such as high efficiency and enhanced battery power. High adoption of sustainable energy resources coupled with the aforementioned properties will fuel solar panel recycling management market from polycrystalline cells, which is slated to cross USD 220 million by 2024.
Mexico solar panel recycling management industry will cross revenue margin of USD 3 million by end of 2024, driven by rising deployments of solar panels across the region.
Growing application of renewable energy sources to reduce fossil fuel usage is anticipated to boost UAE solar panel recycling management market size.
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U.S. solar panel recycling management industry is projected to witness robust growth in the near future. Rising acceptance of solar panels plus regulations favoring solar panel recycling will drive the regional share.
Estimated presence of over 45,000 tons of decommissioned solar panels will strongly drive solar panel recycling management market expansion in Chile over the coming period of 2016
to 2024.
Germany solar panel recycling management industry value is forecast to grow substantially over the coming timeframe, driven by the rise in the installations of photovoltaic panels.
Favorable government initiatives such as feed-in-tariffs and incentives to encourage the setting up of photovoltaic panels across residential sectors will fuel market growth in Japan.
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