ResearchAndMarkets has added latest report “Global Solar Panel Recycling Market 2019-2023″ to its offering. The research firm in its latest report projects the global solar panel recycling to grow at a CAGR of 30.46% during the period 2019-2023.
The report that has been prepared based on an in-depth market analysis with inputs from industry experts covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is the increase in solar PV panel recycling R&D activities. This increases the benefits of recycling for the solar PV panel owners, thus encouraging the buyers to recycle the solar PV panel waste rather than disposing of them. This, in turn, increases the demand for solar PV panel recycling.
Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the increase in solar PV panel recycling R&D activities. This increases the benefits of recycling for the solar PV panel owners, thus encouraging the buyers to recycle the solar PV panel waste rather than disposing of them. This, in turn, increases the demand for solar PV panel recycling.”
According to the report, one of the major drivers for this market is the growth in solar PV panel installation. The increase in solar PV [panel installations, the need for solar PV panel waste management increases, which propels the growth of the global solar panel recycling market.
Further, the report states that one of the major factors hindering the growth of this market is the challenges associated with product characteristics. The challenges associated with the product characteristics and requirement of technical expertise to recycle the solar PV panel waste make it difficult to recycle the solar PV panels efficiently, thus hindering the growth of the market.