As per the report by Global Market Insights, Inc., “Worldwide Solar Panel Recycling Management Market was valued USD 20 million in 2015 and will surpass a revenue collection of USD 360 million by 2024 with an annual growth rate of 35% over 2018 to 2024.”
UK solar panel recycling management market share is predicted to grow above 35% by 2024. In 2017, the Department for Business, Energy & Industrial Strategy reported that the country holds a cumulative installed photovoltaics capacity of up to 11.8 GW by 2016.
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China solar panel recycling management Market is anticipated to achieve over 12% of the global share by 2024. The “PV Recycling and Safety Disposal Research” segment under National High-tech R&D Program, will introduce specific laws and regulations to counter growing panel waste volumes.
UAE solar panel recycling management market share is projected to witness growth above 50% from 2016 to 2024. In 2016, the International Renewable Energy Agency (IRENA) projected that the country will witness upto 350,000 tons of waste volume generated by the photovoltaic panels by 2050.
The tremendous surge in the adoption of solar panels, thanks to government initiatives, will fuel solar panel recycling management market. The increase in the number of solar panel installations indicate an equal increase in the number of decommissioned panels, which in turn will drive the industry trends. Most companies nowadays are also intent on establishing newer recycling facilities to encourage the green revolution, further stimulating solar panel recycling management market. For instance, recently, Veolia Environnement S.A., the French environmental solutions provider, announced its plan about implementing a new solar module recycling facility at Rousset, south of France, for recycling decommissioned solar modules.
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.
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Global solar panel recycling management industry is slated to be fiercely competitive owing to the existence of several companies involved in the manufacture of solar panels and the increasing preference toward sustainable energy sources. Key players include Canadian Solar, PV Recycling, LLC, PV Recycling, LLC, Envaris, Reiling Glass Recycling, First Solar, Rinovasol, Silcontel, ECS Refining, Silcontel, Eiki Shoji Ltd, Chaoqiang Silicon Material, Cellnex Energy, REMA PV Systems, IG Solar Private, Darfon Electronics Corporation, and Suzhou Shangyunda Electronics. Companies engage in tactics such as product innovation and enhanced recycling procedures to sustain their position in solar panel recycling management market.
Glimpse of Table of Content (ToC)
Chapter 3 Solar Panel Recycling Management Industry Insights
3.1 Industry segmentation
3.2 Industry size & forecast, 2013 – 2024
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.4 Technology & innovation landscape
3.5 Regulatory landscape
3.6 Industry impact forces
3.6.1 Growth drivers
188.8.131.52 Increasing adoption of solar panels
184.108.40.206 Government regulations
220.127.116.11 Effective disposal of solar panels
18.104.22.168 Untapped potential
3.6.2 Industry pitfalls & challenges
22.214.171.124 Expensive technology
3.7 Growth potential analysis
3.8 Porter’s analysis
3.9 Competitive landscape, 2015
3.9.1 Strategy dashboard
3.10 PESTEL analysis
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