According to the report by Expert Market Research (EMR), the global energy recovery ventilator market growth, reached a value of USD 3.5 billion in 2023. Aided by the rising demand for energy-efficient ventilation systems and the expanding applications of ERVs across several industries, the market is projected to further grow at a CAGR of 9.7% between 2024 and 2032 to reach a value of USD 8.09 billion by 2032.
Energy recovery ventilators are used for exchanging the energy contained in normally exhausted building or space air and using it to treat (precondition) the incoming outdoor ventilation air in residential and commercial HVAC systems. These ventilators play a significant role in improving indoor air quality, regulating humidity, and reducing energy consumption in heating, ventilation, and air conditioning (HVAC) systems.
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The growing emphasis on energy efficiency is propelling the global energy recovery ventilator market growth. As energy consumption and the cost of cooling and heating continue to rise, the demand for ERVs, which reduce the load on HVAC systems and lower energy costs, has surged. Furthermore, government regulations and policies aimed at promoting energy efficiency have led to an increase in the implementation of ERVs in commercial and residential buildings.
The broadening applications of ERVs across numerous sectors also significantly contribute to the energy recovery ventilator market expansion. In the commercial sector, ERVs are employed in offices, educational institutions, hotels, and hospitals to maintain indoor air quality and control humidity. In the residential sector, the growing awareness about the benefits of improved indoor air quality, such as reduced allergens and pollutants, is leading to the increased adoption of ERVs.
In addition, the increasing concerns regarding indoor air pollution and its impact on health have heightened the demand for effective ventilation systems, thereby promoting the growth of the ERV market. As ERVs help reduce pollutants and allergens in the indoor environment, their importance in maintaining a healthy indoor atmosphere is indisputable.
Furthermore, the ongoing research and development in the field of HVAC technology, aimed at enhancing energy efficiency and reducing costs, provide promising growth opportunities for the ERV market. For instance, the development of smart ERVs that can be controlled through smartphones and other devices is expected to boost the energy recovery ventilator market growth in the future.
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Energy Recovery Ventilator Market Segmentation
The market can be divided based on technology type, type, application, and region.
Market Breakup by Technology Type
- Rotatory Heat Exchanger
- Run-Around Coil
- Plate Heat Exchanger
- Heat Pipe Heat Exchanger
- Others
Market Breakup by Type
- Ceiling Mount
- Wall-Mount
- Cabinet
Market Breakup by Application
- Residential
- Industrial
- Commercial
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global energy recovery ventilator companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Panasonic Corporation
- LG Electronics
- Johnson Controls, Inc.
- Fujitsu General Limited
- Carrier Global Corporation
- Nortek Air Solutions, LLC
- Reznor HVAC
- Ostberg Group AB
- Zehnder America
- Ruskin Rooftop Systems
- Loren Cook Company
- Greenheck Fan Corporation
- Broan-Nutone, LLC
- Dunnair (AUST) PTY LTD
- PASCHAL International
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