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.
Market Overview:
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 more.
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 METRIC |
DETAILS |
Market Size Available |
2023 – 2029 |
Base Year |
2023 |
Forecast Period |
2024 - 2029 |
CAGR |
13.10% |
Segments Covered |
By Application, Technology, and Region. |
Various Analyses Covered |
Global, Regional and 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. |
Market Segmentation
The commercial application sector of the global energy recovery ventilator market is estimated to rise with the highest CAGR over the foreseen period from 2023 to 2029.
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.
Market 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.
Market Key Players:
Some of the important players in the global Energy Recovery Ventilator Market include:
Market Key Developments:
FAQ's
The Global Energy Recovery Ventilator Market is expected to grow with a CAGR of 13.10% between 2024-2029.
The Global Energy Recovery Ventilator Market size is expected to reach a revised size of US$ 7.50 billion by 2029.
Nortek Air Solutions, Ostberg Group¸ Carrier Airconditioning & Refrigeration Ltd. are the three Energy Recovery Ventilator Market key players.
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