PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1836235
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1836235
PVT (Photovoltaic-Thermal) Collectors Market size was valued at US$ 2,345.87 Million in 2024, expanding at a CAGR of 5.2% from 2025 to 2032.
The Photovoltaic-Thermal (PVT) Collectors Market, which combines solar photovoltaic panels with thermal collectors to generate both electricity and heat from the same surface, is expected to expand steadily from 2025 to 2035. Growth is driven by rising demand for hybrid renewable systems, government incentives for solar adoption, and the increasing need for efficient building energy solutions, with companies like Abora Solar and DualSun advancing PVT technologies for residential and commercial use. However, high installation costs, limited consumer awareness, and integration challenges with existing infrastructure act as restraints. Opportunities arise in smart cities, industrial process heating, and net-zero energy buildings where dual-output systems maximize efficiency.
PVT (Photovoltaic-Thermal) Collectors Market- Market Dynamics
Rising Demand for Hybrid Renewable Systems and Energy-Efficient Buildings Driving Growth of the Photovoltaic-Thermal (PVT) Collectors Market
Governments and institutions are increasing support for multifunctional solar systems: for instance, France led with 42% of global PVT installation area in 2019, followed by South Korea (24%), China (11%), and Germany (10%). Early U.S. deployments remain modest; as of 2020, just 2 MW-thermal of PVT systems had been installed. Still, public-sector installations have paved the way: a notable demonstration at the U.S. O'Neill Federal Building combined 31.5 kW electric and 69 kW thermal output (approx.). These government-backed projects and rising adoption in Europe underscore growing recognition of PVT systems as dual-output, space-saving solutions in sustainable building and infrastructure. Additionally, initiatives under the EU's Green Deal are fostering large-scale PVT integration in energy-efficient buildings. In Asia, government-funded pilot projects in India and Japan are exploring PVT for industrial process heating, highlighting its role in decarbonization strategies across multiple sectors.
PVT (Photovoltaic-Thermal) Collectors Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.2% over the forecast period (2025-2032)
Based on Material Type segmentation, silicon-based collectors were predicted to show maximum market share in the year 2024
Based on Collector Type segmentation, liquid-based collectors were the leading Collector Type in 2024
Based on Mounting Type segmentation, Roof Mounted was the leading Mounting Type in 2024
Based on technology segmentation, Flat-Plate Photovoltaic Thermal Collector was the leading technology in 2024
Based on Application segmentation, Residential was the leading Application in 2024
On the basis of region, North America was the leading revenue generator in 2024
The Global PVT (Photovoltaic-Thermal) Collectors Market is segmented on the basis of Material Type, Collector Type, Mounting Type, Technology, Application, and Region.
The market is divided into two categories based on Material Type: Silicon-Based Collectors and Non-Silicon-Based Collectors. Silicon-based collectors hold the highest priority due to their proven efficiency, scalability, and dominance in photovoltaic technologies. Non-silicon-based collectors follow, gaining traction in niche applications where flexibility, lightweight design, or emerging materials like perovskites provide added advantages.
The market is divided into two categories based on Collector Type: Air-Based Collectors and Liquid-Based Collectors. Liquid-based collectors dominate as they deliver higher thermal efficiency and are widely used in residential and commercial heating. Air-based collectors follow, valued for simpler design, lower maintenance, and suitability in ventilation or building-integrated applications.
PVT (Photovoltaic-Thermal) Collectors Market- Geographical Insights
Europe holds a dominant share of the PVT market, accounting for roughly 64% of the global installed area, especially in France, Germany, and the Netherlands, driven by supportive regulations and innovation hubs. The Asia-Pacific region is the fastest-growing market, with revenues estimated at US$220 million in 2024 and a projected CAGR of around 14.8% through 2033, as China, India, Japan, and South Korea scale hybrid renewable projects. North America follows with an expanding footprint fueled by incentives and green-building momentum. Notable collaborations include the IEA's multi-country Task 60 initiative, which united industry and research to standardize PVT performance metrics and highlight emerging opportunities. The Middle East is also showing rising interest, with countries like the UAE exploring PVT integration in solar parks to optimize land use. Meanwhile, Latin America, led by Brazil and Chile, is testing PVT in distributed generation projects to enhance energy efficiency.
The PVT collectors market features a blend of established players and innovative newcomers, each vying through technological advancement and strategic alignment. Firms like NIBE Energy Systems deepen their appeal by integrating PVT units with ground-source heat pumps, simplifying installations and enhancing system efficiency. In France, DualSun launched the "Springer" PVT panel in December 2024, offering 21.8 % photovoltaic efficiency and strong thermal output for residential use. Germany's Sunmaxx PVT captured nearly a quarter of Northern Europe's commercial PVT demand by partnering with district heating networks, leveraging strong regional infrastructures. Across the Asia-Pacific, Sunpreme achieved rapid growth via vertically integrated production and a strategic tie-up with Vietnam's largest construction firm, mandating PVT inclusion in high-rise projects. These differentiated strategies, product innovation, end-to-end systems integration, and market-specific collaborations define the competitive dynamics of the PVT industry.
In January 2023, the German Federal Ministry for Economic Affairs and Climate Action funded the PVTsolutions project (approximately €1.8 million), where Fraunhofer ISE, Solvis, and Solab developed and field-tested photovoltaic-thermal (PVT) collectors integrated with heat pumps for efficient electricity and heat generation.
In April 2025, TWL Technologie GmbH unveiled its Prisma PVT RBX panels, rigid photovoltaic-thermal collectors featuring double-glass construction and monocrystalline TOPCon cells designed specifically for integration with ground-source heat pumps