Global Energy Recovery Ventilator Market Research Report - Segmentation By Technology Type (Plate Heat Exchanger, Heat Pipe Heat Exchanger, Rotary Heat Exchanger, Run-Around Coil), By Application (Commercial, Residential) & By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends, Forecasts | 2024 to 2029

Updated On: January, 2024
ID: 7768
Pages: 175

Global Energy Recovery Ventilator Market Size (2024 - 2029):

The Global Energy Recovery Ventilator Market size is estimated at USD 4.06 billion in 2023 to reach a valuation of USD 7.50 billion by 2029, at a current CAGR of 13.10% from 2024 to 2029.

Current Scenario of the Global Energy Recovery Ventilator Market

An energy recovery ventilator is the procedure of energy restoration and is known to be the major component in an HVAC system for the enhancement of indoor air quality. It fits in the cold climate atmosphere, in homes where there is zero abundance of seasonal moisture in the warmth, and additionally for homes located in warmer climates where the outside humidity level is higher.

An energy recovery ventilator (ERV) is installed in places where high concentrations of individuals are present, and there is a requirement for sufficient fresh air, It assists in lowering the utility expenses and recovering energy in the building. The energy recovery ventilator allows fresh air into the building, reduces CO2 levels, and keeps the residents healthy and alert. It also helps in controlling odors, where the stale air is exhausted, and fresh air is permitted inside the building. It equalizes the pressure by allowing fresh air into the building, and the conditioned air is exhausted. The energy recovery ventilator keeps refreshing energy in the summer and warmth in the winter. It decreases the total HVAC equipment capacity and enhances indoor air quality. It also provides advantages like meeting energy standards and ASHRAE ventilation.

MARKET DRIVERS AND RESTRAINTS

Rising awareness among individuals relating to indoor environmental quality is driving the global energy recovery ventilator market expansion. An energy recovery ventilator provides advantages like improved internal air quality without consuming much energy. Rising government investments in research and development activities and product differentiation in an energy recovery ventilator open up new expansion opportunities. It is employed in different applications like residential, commercial, and industrial segments.

The rising requirement to decrease energy consumption in residential and commercial buildings, the rising number of green buildings across the world, and increasing awareness to keep constant the quality of indoor air are the major factors driving the expansion of the energy recovery ventilator market across the globe. Nevertheless, the lack of awareness about the advantages provided by energy recovery ventilators and the high prices included in the buying, installation, and maintenance of energy recovery ventilators act as restraints to the expansion of the worldwide energy recovery ventilator market.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

CAGR

13.10%

Segments Covered

By Application, Technology, and Region.

 

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

Market Leaders Profiled

Fujitsu General, Mitsubishi Electric Corporation, LG Electronics, Munters, HEATEX AB, Johnson Controls, Daikin, Greenheck Fan Corporation, Panasonic Corporation, Nortek Air Solutions, Ostberg Group¸ Carrier Airconditioning & Refrigeration Ltd., Airxchange, Paschal Heat, Air & Geothermal, Reznor Manufacturing Company, Ruskin Rooftop Systems, Renewaire, Zehnder America, Lennox International, and Loren Cook Company, and Others.

 

SEGMENTAL ANALYSIS

Global Energy Recovery Ventilator Market Analysis By Application

The commercial application sector of the global energy recovery ventilator market is estimated to rise with the highest CAGR over the foreseen period from 2024 to 2029. 

Global Energy Recovery Ventilator Market Analysis By Technology

The rotary heat exchanger technology sector of the global energy recovery ventilator market is estimated to rise at the highest CAGR throughout the foreseen period. The expansion of this sector of the market can be credited to the compact design and high efficiency of rotary heat exchangers.

REGIONAL ANALYSIS

The North American energy recovery ventilator market is estimated to showcase the highest expansion during the foreseen period. The rising efforts for saving energy and decreasing energy consumption prices are estimated to escalate the installation of energy recovery ventilator systems in the region.  The expansion of the North American energy recovery ventilator business can be attributed to the formulation and implementation of different government rules relating to the employment of these ventilators in green buildings as well as retrofitting the existing buildings with energy recovery ventilators. The rise in the number of commercial buildings in the region is also estimated to boost the expansion of the North American market between 2023 and 2029. Different government guidelines, like Building Efficiency Standards of California and ANSI/ASHRAE/IESNA Standard 90.1, are supportive of escalating the adoption of energy recovery ventilators in commercial and residential buildings that boost the call for energy recovery ventilators in this area.

KEY PLAYERS IN THE GLOBAL ENERGY RECOVERY VENTILATOR MARKET

Companies playing a prominent role in the global energy recovery ventilator market include Fujitsu General, Mitsubishi Electric Corporation, LG Electronics, Munters, HEATEX AB, Johnson Controls, Daikin, Greenheck Fan Corporation, Panasonic Corporation, Nortek Air Solutions, Ostberg Group¸ Carrier Airconditioning & Refrigeration Ltd., Airxchange, Paschal Heat, Air & Geothermal, Reznor Manufacturing Company, Ruskin Rooftop Systems, Renewaire, Zehnder America, Lennox International, and Loren Cook Company, and Others.

RECENT HAPPENINGS IN THE GLOBAL ENERGY RECOVERY VENTILATOR MARKET

  • Fujitsu is yet to start an Air Conditioning deal with the formation of a straight sale in India. Fujitsu General will initiate an air conditioner deal with the formation of a straight sale through our Indian sales Auxillary of Fujitsu  General  (India) Pvt. Ltd. (hereinafter “FG (India)”) in India from 21st January. We will see to further enhance our brand by boosting marketing projects and after-sales offerings under our startup in a broad variety of businesses. Within Agricultural firms, the main agenda is to manage the climate for animals and plants.
  • In the previous year, Carrier launched the newly invented Aero 39M after hearing from our consumers’ requests for more capability and accomplished in an air handler, according to Greg Alcorn of Carrier Commercial Systems. This year, they have made even more additions of flexibility by making ERVs present in units up to size 61. the future. Hand in hand, we will also focus on growing our air conditioner industry in India by escalating our sales channels by opening stores under our straight operation and the advancement of the latest distributors involving commercial sectors.
  • Munters AB declared that it has agreed to sign a definitive agreement to attain 100 % of the shares in Reventa (www. reventa.de) a firm which is specialized in climate control systems for livestock construction. Reventa with its headquarters based in Horstmar, Germany, where also Sales, R&D, and Manufacturing are situated. Munters is a global leader in several energy-efficient air treatment solutions. Utilizing innovative techniques, the group’s expert engineers make a suitable climate for consumers.

DETAILED SEGMENTATION OF THE GLOBAL ENERGY RECOVERY VENTILATOR MARKET INCLUDED IN THIS REPORT

This global energy recovery ventilator market research report has been segmented and sub-segmented based on application, technology and region.

By Application

  • Residential
  • Commercial
  • Industrial
  • Others  

By Technology

  • Run-Around Coil
  • Rotary Heat Exchanger
  • Heat Pipe Heat Exchanger
  • Plate Heat Exchanger
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa 

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Frequently Asked Questions

1. What is the Energy Recovery Ventilator Market growth rate during the projection period?

The Global Energy Recovery Ventilator Market is expected to grow with a CAGR of 13.10% between 2024 and 2029.

2. What can be the total Energy Recovery Ventilator Market value?

The Global Energy Recovery Ventilator Market size is expected to reach a revised size of US$ 7.50 billion by 2029.

3. Name any three Energy Recovery Ventilator Market key players?

Nortek Air Solutions, Ostberg Group¸ Carrier Airconditioning & Refrigeration Ltd. are the three Energy Recovery Ventilator Market key players.

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