Energy Recovery Ventilator Market was worth USD 2.9 billion in 2019 and is projected to grow at a CAGR of 11.80%, to reach USD 5.1 billion by 2024. Energy Recovery Ventilator is the energy recovery procedure of exchanging the energy contained in a normally exhausted building and utilizing it to treat the incoming air flow air in residential and commercial HVAC structures. In warmer seasons, the machine pre-cools and dehumidifies while humidifying and pre-heating during the cooler seasons. This technique is useful for meeting the ASHRAE air flow & power requirements, while improving indoor air quality and lowering overall HVAC system capacity at the same time.
Market Drivers and Restraints:
The growing awareness regarding work-place conditions and employee welfare is leading to the high adoption of electricity healing ventilators throughout industries, leading to the market’s dominance in the commercial zone. In terms of quantity, the call for energy healing ventilators from the commercial sector has been increasing rapidly. Then again, the high value associated with these ventilators may act as a predicament to the market’s boom during the forecast period.
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Report segmented as
By Technology Type:
- Plate Heat Exchanger
- Heat Pipe Heat Exchanger
- Rotary Heat Exchanger
- Run-Around Coil
On the basis of regional segregation, the global Energy Recovery Ventilator market is categorized into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America leads the Energy Recovery Ventilator market due to the presence of large number of companies operating in the market. The developing demand for energy recovery ventilators from the residential and business sectors in addition to implementation of various government regulations pertaining to the improved use of electricity-efficient gadgets which includes energy recovery ventilators are anticipated to fuel the development of the market in this region.
Important Market Players:
Some of the major players in Energy Recovery Ventilator market are Mitsubishi Electric Corporation (Japan), Daikin (Japan), Panasonic Corporation (Japan), LG Electronics (South Korea), Johnson Controls (US), Munters (Sweden), FUJITSU GENERAL (Japan), Carrier Corporation (US), Nortek Air Solutions (US), and Greenheck Fan (US).
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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