The Energy Recovery Ventilator Market size is projected to reach US$ 5.67 billion by 2031 from US$ 3.95 billion in 2023. The market is expected to register a CAGR of 4.6% in 2023–2031. The energy recovery ventilators are primarily designed as energy efficient & cost effective in standard mechanical ventilation systems as they filter outside air that lowers the pressure on HVAC units and reduces the conventional HVAC capacity.

Energy Recovery Ventilator Market Analysis

The booming concern and urge to minimize HVAC energy consumption and increase energy efficiency in residential and commercial buildings is propelling the demand for energy recovery ventilators at the global level. Additionally, the rising demand for competent solutions to improve indoor air quality is fostering the adoption of these systems. However, a lack of consumer awareness about the potential benefits of energy recovery ventilators and supplementary installation & maintenance expenditures may act as impeding factors for the growth of the market. Despite some challenges, the rising trend of green and sustainable buildings and continuous developments in the energy recovery ventilators’ performance are a few of the prime factors that are projected to drive the development of the energy recovery ventilator market over the forecast period.

Energy Recovery Ventilator Market Overview

The market for energy recovery ventilators is classified into technology type, end user, and geography. Based on technology type, the energy recovery ventilator market is bifurcated into plate heat exchangers, rotary heat exchangers, heat pipe heat exchangers, run-around coils, and others. Plate heat exchanger is anticipated to be the largest segment over the forecast period from 2024 to 2031. Based on end users, the market is categorized into commercial, residential, and industrial. The commercial segment contributed a significant share in 2023. The increasing adoption of energy recovery ventilators in the commercial sector is anticipated to propel the demand for the energy recovery ventilator market over the forecast period.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Get 10% FREE CUSTOMIZATION

Energy Recovery Ventilator Market: Strategic Insights

Energy Recovery Ventilator Market

• 
  CAGR (2023 - 2031)

  4.6%
• Market Size 2023
  US$ 3.95 Billion
• Market Size 2031
  US$ 5.67 Billion

Market Dynamics

GROWTH DRIVERS

• Increasing Demand for Energy-efficient Solutions are Expected to be the Prime Driver for Energy Recovery Ventilator Market

FUTURE TRENDS

• Growing Proliferation of Energy Recovery Ventilators in Industrial Sector

OPPORTUNITIES

• Growing Green Infrastructure Development

Key Players

• Carrier Corporation
• Daikin Industries
• Ltd.
• Fujitsu General
• Greenheck Fan Corporation
• Johnson Controls International Plc.
• LG Electronics
• Mitsubishi Electric Corporation
• Munters

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Technology Type

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

End User

• Residential
• Commercial
• Industrial

Download Free Sample

   Buy Now   

• Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Energy Recovery Ventilator Market Drivers and Opportunities

Growing Demand for Energy-efficient Solutions is Expected to be the Prime Driver for Energy Recovery Ventilator Market

Consumer preference for energy-efficient appliances has been growing in recent times. Energy efficiency can provide long-term benefits by reducing overall electricity demand by lowering the need to invest in new infrastructure. To attain energy efficiency, many manufacturing industries and commercial manufacturing companies are procuring high-efficiency energy recovery ventilator systems. An efficient energy recovery ventilator system utilizes less energy and operates more effectively than conventional systems, lowering the carbon footprint. High-end energy recovery ventilator systems can be used in residential, commercial, and industrial setups to decrease energy costs and greenhouse gas emissions. Thus, the growing demand for energy-efficient solutions drives the evolution of the energy recovery ventilator market.

Growing Green Infrastructure Development

Mounting investment in sustainable infrastructure paves the way for green infrastructure opportunities, encouraging the application of eco-friendly alternatives energy efficient systems, promoting economic growth, and improving livelihoods. It also offers a pathway for countries to incorporate their infrastructure development and climate goals together by participating in projects that decrease carbon presence, including sustainable and green construction and manufacturing ecosystems. The construction and infrastructure industry is focusing on reducing its carbon footprint, as it is the key contributor to the growing demand for energy recovery ventilators globally. Rising focus on green infrastructure and growing focus on more sustainable products are acting as one of the major opportunities for the energy recovery ventilator market.

Energy Recovery Ventilator Market Report Segmentation Analysis

Key segments that contributed to the derivation of the energy recovery ventilator market analysis are technology type and end user.

• Based on technology type, the energy recovery ventilator market has been divided into plate heat exchanger, heat pipe heat exchanger, rotary heat exchanger, run-around coil, and others. The plate heat exchanger segment held a larger market share in 2023.
• In terms of end user, the market has been segmented into residential, commercial, and industrial. The commercial segment dominated the market in 2023.

Energy Recovery Ventilator Market Share Analysis by Geography

The geographic scope of the Energy Recovery Ventilator Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.

North America dominated the Energy Recovery Ventilator Market in 2023. The North America region includes the US, Canada, and Mexico. The Energy Recovery Ventilator Market growth in North America is attributed to developing and growing large-scale investments by the commercial sector. Additionally, the rising demand for energy recovery ventilator systems from the retail, BFSI, IT and telecom, healthcare, and education institutes are also contributing to the evolution of the market in North America. The US holds the major share in the energy recovery ventilator market in North America.

Energy Recovery Ventilator Market News and Recent Developments

The Energy Recovery Ventilator Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for Energy Recovery Ventilator Market and strategies:

• On February 2024, Panasonic Corporation launched the WhisperComfort 60 Energy Recovery Ventilator (ERV). (Source: Panasonic Corporation, Press Release/Company Website/Newsletter)
• On April 2022, Mitsubishi Electric Trane HVAC US launched Lossnay RVX2, the next generation of Lossnay Energy Recovery Ventilator units. (Source: Mitsubishi, Press Release/Company Website/Newsletter)

Energy Recovery Ventilator Market Report Scope

Download Free Sample

   Buy Now   

• Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Energy Recovery Ventilator Market Report Coverage and Deliverables

The “Energy Recovery Ventilator Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles with SWOT analysis