The new report by Expert Market Research titled, ‘Global Energy Recovery Ventilator Market Size, Price, Trends, Growth, Analysis, Report and Forecast 2023-2031’, gives an in-depth analysis of the global energy recovery ventilator market, assessing the market based on its segments like technology types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2031)
Forecast CAGR (2023-2031): 9.7%
The rising emphasis on air quality by homeowners and builders is projected to drive the global energy recovery ventilator market. Modern technologies that provide fresh and filtered air to keep occupants healthy, will drive the market expansion. Increasing innovation in energy recovery ventilators to satisfy the specific ventilation requirements of diverse end-users represents a growth opportunity for the global energy recovery ventilator market.
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Further, the rising importance of indoor air quality and increasing awareness amongst people regarding indoor environmental quality will drive the market growth. Additionally, the rising demand for fresh air and the need to reduce pollutants are some of the other factors accelerating the market growth of energy recovery ventilators. The increasing demand for energy housing projects and increase in construction activities is expected to drive the energy recovery ventilator market growth during the forecast period.
Industry Definition and Major Segments
Energy recovery ventilators are most commonly used in climates with dry winters and/or humid summers. During the winter, an energy recovery ventilator helps maintain optimal humidity levels by catching moisture from the exhaust air and transferring it to the intake air. Moisture from the intake air is transported to the exhaust air during the summer, lowering moisture levels.
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By technology type, the market is segmented into:
Rotary Heat Exchanger
Run-Around Coil
Plate Heat Exchanger
Heat Pipe Heat Exchanger
Others
The major applications of the market are:
Residential
Commercial
Others
On the basis of region, the market is segmented into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Market Trends
The rise in the number of green buildings, formulation, and stringent implementation of various government regulations to reduce energy consumption in buildings, and increased demand for highly efficient energy recovery ventilators are accelerating the global market growth. Several innovations in energy recovery ventilators and product differentiation are estimated to generate numerous opportunities for the market.
Also, the growing efforts for saving energy and reducing energy consumption costs are expected to increase the installation of energy recovery ventilator systems across the globe. Additionally, a plate heat exchanger also keeps a building’s temperature stable and provides a well-organized instrument for heat transmission, lowering energy consumption and CO2 emissions even further.
Such properties contribute to the expansion of the plate heat exchanger segment in the global energy recovery ventilator market. Also, the demand from developing countries such as India, China, and Brazil will likely drive market growth over the projection period.
Key Market Players
The major players in the market are Panasonic Corporation, LG Electronics, Johnson Controls, Inc., Fujitsu General Limited, Carrier Global Corporation, and Nortek Air Solutions, LLC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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