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Global Energy Recovery Ventilator Market – Industry Trends and Forecast to 2030

  • Chemical and Materials
  • Upcoming Report
  • Aug 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Energy Recovery Ventilator Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR - 11.9% Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 4.62 Billion
Diagram Market Size (Forecast Year) USD 11.04 Billion
Diagram CAGR 11.9%

Global Energy Recovery Ventilator Market, By Type (Ceiling-Mount, Wall-Mount, Cabinet), Technology (Heat Pipe Heat Exchanger, Run-Around Coil, Plate Heat Exchanger, Rotary Heat Exchanger, Other), Application (Residential, Industrial, Commercial, Others) – Industry Trends and Forecast to 2030.

Energy Recovery Ventilator Market

Energy Recovery Ventilator Market Analysis and Size

Energy Recovery Ventilator (ERV) is a mechanical ventilation system used in buildings to provide fresh air while minimizing energy loss. It is designed to exchange stale indoor air with fresh outdoor air while recovering the energy from the outgoing air to precondition the incoming air. Its applications can be seen in residential, commercial, green, and industrial facilities.

Data Bridge Market Research analyses that the energy recovery ventilator market, which was USD 4.62 billion in 2022, will reach USD 11.04 billion by 2030 and is expected to undergo a CAGR of 11.9% during the forecast period. “Ceiling-Mount” dominates the type segment of the Energy Recovery Ventilator market by their versatile properties like compact design, which makes them ideal for building with limited floor spaces, and their application can be seen in commercial and office spaces. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Energy Recovery Ventilator Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

By Type (Ceiling-Mount, Wall-Mount, Cabinet), Technology (Heat Pipe Heat Exchanger, Run-Around Coil, Plate Heat Exchanger, Rotary Heat Exchanger, Other), Application (Residential, Industrial, Commercial, Others)

Countries Covered

(U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa)

Market Players Covered

Carrier (United Technologies) (U.S.), Johnson Controls(Ireland), Daikin Industries, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Trane (Ireland), LG Electronics (South Korea), Nortek Air Solutions, LLC (U.S.), Lennox International Inc. (U.S.), Greenheck (U.S.), Ostbery ( Sweden), Ruskin(U.S.), UltimateAir, Inc. (U.S.)

Market Opportunities

  • Growth in the deployment of advanced technologies
  • High cost of raw material
  • Rising research and development opportunities

Market Definition

Energy recovery ventilation (ERV) is the energy recovery process in residential and commercial HVAC systems that exchanges the energy contained in the normally exhausted air of a building or conditioned space, using it to treat (precondition) the incoming outdoor ventilation air. The specific equipment involved may be called an Energy Recovery Ventilator or ERV.

Global Energy Recovery Ventilator Market Dynamics

Drivers

  • Increasing awareness among individuals about indoor environmental quality

Increasing awareness among individuals about indoor environmental quality is driving the growth of the global market for energy recovery ventilators. The energy recovery ventilator provides advantages such as enhancing internal air quality without wasting much energy. The growing urbanization is partly responsible for maintaining the increasing demand for ventilators for energy recovery. Implementing and developing multiple government regulations on using energy recovery ventilators to furnish existing structures and including green buildings resulting in growing investment in the construction sector, are anticipated to push the demand for ventilators for energy recovery over the forecast timeframe.​​​​​​​

  •  Growing Demand in New Commercial and Residential Projects

Rising demand for new commercial and residential projects is giving rise to the energy recovery ventilator market for indoor air quality purposes. The U.S. Environmental Protection Agency (EPA) has identified indoor air pollution as a major environmental problem because indoor air can be up to five times more polluted than outdoor air. To address this issue, the EPA recommends using ventilation systems to improve indoor air quality in commercial and residential projects, which helps to boost the market.

  • Growing Demand in New Commercial and Residential Projects

Rising demand for new commercial and residential projects is giving rise to the energy recovery ventilator market for indoor air quality purposes. The U.S. Environmental Protection Agency (EPA) has identified indoor air pollution as a major environmental problem because indoor air can be up to five times more polluted than outdoor air. To address this issue, the EPA recommends using ventilation systems to improve indoor air quality in commercial and residential projects.

Opportunities

  • Green Building Projects

As the demand for green building projects continues to rise, there is an opportunity for ERVs to be integrated into new construction or renovation projects that prioritize energy efficiency and sustainable practices. Green building projects often prioritize energy efficiency, sustainability, and occupant health. Energy Recovery Ventilators (ERVs) align well with these objectives and can contribute significantly to green building projects.

  • Retrofitting Existing Buildings

As the demand for green building projects continues to rise, there is an opportunity for ERVs to be integrated into new construction or renovation projects that prioritize energy efficiency and sustainable practices. Retrofitting existing buildings with Energy Recovery Ventilators (ERVs) can be a valuable strategy to improve indoor air quality, energy efficiency, and occupant comfort. Retrofitting existing buildings with ERVs requires careful planning, assessment, and coordination with building professionals. By considering these factors, building owners can improve indoor air quality, energy efficiency, and occupant comfort while optimizing the benefits of ERV technology in their existing structures.

Restraints/Challenges

  • Complex Installation of Energy Recovery Ventilators

Installing ERVs can be more complex than conventional ventilation systems due to the need for ductwork, electrical connections, and system integration. This complexity may pose challenges during installation, particularly in existing buildings. Given the complexity involved in ERV installation, it is recommended to engage qualified HVAC professionals or contractors experienced in ERV systems. They can effectively plan, design, and execute the installation process, ensuring proper integration, compliance with codes and regulations, and optimal system performance.

  • Maintenance and Filter Replacement of Energy Recovery Ventilators

ERVs require regular maintenance, including filter replacement and cleaning, to ensure optimal performance and air quality. This ongoing maintenance can pose a challenge for some building owners or operators. By implementing regular maintenance routines and timely filter replacement, building owners can optimize the performance and longevity of their ERV systems. Adhering to manufacturer guidelines and working with experienced HVAC professionals can provide valuable insights and ensure proper maintenance practices are followed. The lack of favorable reimbursement scenarios and technology penetration in the developing economies, heavy custom duty imposed on medical devices, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2023-2030.

This energy recovery ventilator market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the energy recovery ventilator market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Recent Developments

  • In March 2022, Greenheck fan Corporation launched a new residential energy recovery ventilator for multi-family residential buildings. The company introduced four models with a variety of options and accessories. All these newly launched models have a Home Ventilating Institute (HVI) certified now
  • In March 2021, Innergy Tech, Inc. launched a new energy recovery wheel named i4 Energy Recovery Wheel. This energy recovery ventilator core has a patented sealing technology and can be used for new air handling units and can also be retrofitted into existing systems.

Global Energy Recovery Ventilator Market Scope

The energy recovery ventilator market is segmented on the basis of type, technology, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Ceiling-Mount
  • Wall-Mount
  • Cabinet

Technology

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

Application

  • Residential
  • Industrial
  • Commercial
  • Others

Global Energy Recovery Ventilator Market Regional Analysis/Insights

The global energy recovery ventilator market is analysed and market size insights and trends are provided by country, type, technology, and application as referenced above.

The countries covered in the Energy Recovery Ventilator market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.

North America dominates the energy recovery ventilator market owing to the high adoption rate and presence of a pool of energy recovery ventilator manufacturers in the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 because of the owing to the rising population and the rising disposal income of people in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Energy Recovery Ventilator Market Share Analysis

The energy recovery ventilator market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the energy recovery ventilator market.

Some of the major players operating in the energy recovery ventilator market are:

  • Carrier (United Technologies) (U.S.)
  • Johnson Controls (Ireland)
  • Daikin Industries, Ltd. (Japan)
  • Mitsubishi Electric Corporation (Japan)
  • Trane (Ireland)
  • LG Electronics (South Korea)
  • Nortek Air Solutions,LLC (U.S.)
  • Lennox International Inc. (U.S.)
  • Greenheck (U.S.)
  • Ostbery ( Sweden)
  • Ruskin (U.S.)
  • UltimateAir, Inc. (U.S.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The energy recovery ventilator market value was USD 4.62 billion in 2022.
The growth rate of the energy recovery ventilator market is 11.9% By 2030.
Increasing awareness among individuals about indoor environmental quality, Growing Demand in New Commercial and Residential Projects and growing Demand in New Commercial and Residential Projects are the growth drivers of the energy recovery ventilator market.
Type, technology, and application are the factors on which the energy recovery ventilator market research is based.
Major companies in the energy recovery ventilator market are Carrier (United Technologies) (U.S.), Johnson Controls(Ireland), Daikin Industries, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Trane (Ireland), LG Electronics (South Korea), Nortek Air Solutions, LLC (U.S.), Lennox International Inc. (U.S.), Greenheck (U.S.), Ostbery ( Sweden), Ruskin(U.S.), UltimateAir, Inc. (U.S.)
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