Core Viewpoint - The recycling of retired wind and solar equipment contains a significant amount of recyclable resources, which can promote resource circulation, reduce dependence on primary resources, and support green low-carbon development [1][4]. Industry Overview - The recycling of retired wind and solar equipment, also known as wind and solar equipment recycling, involves dismantling and resource utilization of retired wind and solar devices to recover valuable materials and components [2][3]. - The global recycling market for retired wind and solar equipment is expected to grow, with the market size reaching 14.51 billion yuan in 2024, where Asia accounts for 45.01%, Europe for 35.35%, and North America for 12.20% [5]. Current Status of the Industry - In China, the total amount of retired wind equipment is projected to be 200 MW and retired solar equipment 420 MW in 2024, with a peak in retirements expected in 2025 [6]. - The recycling volume of retired wind and solar equipment in China is expected to reach 5.56 million tons in 2024, a year-on-year increase of 221.4%, with a total recoverable value of 386 million yuan [6]. Industry Chain - The recycling industry chain includes upstream equipment retirement, midstream dismantling and processing, and downstream remanufacturing and reuse [6][7]. Competitive Landscape - The Chinese recycling industry is in its early stages, characterized by decentralization and regionalization, with no national leading enterprises yet established [8]. - Key participants include third-party environmental companies (e.g., GreenMe, Dongjiang Environmental), equipment manufacturers extending their business (e.g., Longi Green Energy, Goldwind Technology), and power generation group affiliates [8]. Development Trends - As the largest country in terms of installed wind and solar capacity, China is expected to see a rigid growth trend in retirements, providing long-term stable demand for the recycling industry [8]. - By 2031, the market size for recycling retired wind and solar equipment in China is projected to reach 37.186 billion yuan, with solar equipment accounting for 30.492 billion yuan and wind equipment for 6.694 billion yuan [9].