Energy Recovery Ventilator Market Strategies and Statistics
Energy Recovery Ventilator Market size and Market Growth:
Energy Recovery Ventilator Market size was around USD XX billion in 2018. It is expected to grow at a CAGR of XX% to reach USD XX billion by 2023.
Energy Recovery Ventilator Market Overview:
The worldwide energy recovery ventilator market has been witnessing a tremendous rise in its valuation, thanks to the growing concerns among consumers regarding indoor environmental quality. The rising awareness about the benefits of innovative energy recovery ventilators, such as enhanced internal air quality without consuming much energy, is also adding to the growth of this market substantially.
Energy Recovery Ventilator Market Drivers and Restraints:
The rising demand for fresh air and the need to reduce pollutants are the driving factors for the global energy recovery ventilator market growth. Additionally, increasing demand for energy housing projects an increase in construction activities is expected to drive the growth of the global energy recover ventilator market, during the forecast period (2018 - 2023). However, on the flipside, factors such as inadequate knowledge among consumers regarding the health benefits of these devices and high cost involved in the purchase, installation, and maintenance of energy recovery ventilators are anticipated to challenge the growth of energy recovery ventilators market to some extent.
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Energy Recovery Ventilator Market Geographical segmentation:
Geographically, the global energy recovery ventilator market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. The North American market for energy recovery ventilator is expected to witness the highest growth, during the forecast period. The growing efforts for saving energy and reducing energy consumption cost are expected to increase the installation of energy recovery ventilator systems in the region. Various government guidelines, such as Building Efficiency Standards of California and ANSI/ASHRAE/IESNA Standard 90.1, are supportive of increasing adoption of energy recovery ventilators in commercial and residential buildings, which amplifies the demand for energy recovery ventilators in North America.
Energy Recovery Ventilator Market Key Players:
The key players operating in the global energy recovery ventilator market are Mitsubishi Electric Corporation, Nortek Air Solutions, LLC, Munters Corporation, Greenheck, Renewaire LLC, Reznor, and Zehnder America Inc. Ruskin rooftop system and Innovative Drive Solutions, LLC.
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The Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed, and the prospects with colossal growth potential identified and debated.
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