PUBLISHER: Grand View Research | PRODUCT CODE: 1611615
PUBLISHER: Grand View Research | PRODUCT CODE: 1611615
The global solar panel recycling market size is estimated to reach USD 548.0 million by 2030, registering a CAGR of 7.4% from 2025 to 2030, according to a new report by Grand View Research, Inc. Increasing preference for renewable energy over conventional sources of energy considering the nominal ecological impact is likely to boost the market growth over the projected period.
The growing number of photovoltaic installations on account of their declining prices is likely to further enhance the demand for the recycling of solar panels. Also, the rising awareness about the cost as well as ecological benefits related to solar energy is expected to trigger the market growth. With the extensive R&D, various mechanisms and processes to carry out the active recycling of solar panels have progressed.
Moreover, several strict regulations and government certifications with regards to appropriate solar panel waste treatment and to encourage the implementation of solar energy projects are expected to drive the market. To permit supportable development, certain government authorities are also providing numerous support schemes and incentives for the effective recycling of solar panels.
The mechanical solar panel recycling process type segment led the market in 2024. The segment will retain its dominant position throughout the forecast years on account of the wide usage of this process due to its efficiency and low impact on the environment. The monocrystalline solar panels recycling accounted for the largest share in 2024. High-efficiency stages and longer shelf life along with space efficacy are projected to surge the demand for such panels over the upcoming years.
Europe is the leading regional market owing to the wide consumer acceptance and early product adoption across the region. Moreover, various government actions to legalize the recycling process in countries, such as the U.K. and Germany, are estimated to thrust the market growth. Certain technological advancements to boost the rate of recycling are expected to drive the product demand further.