Energy Recovery Ventilator Market Size, Share, Trends, Growth and Forecast 2032

Global Energy Recovery Ventilator Market Insights

According to a report from Zion Market Research, the global Energy Recovery Ventilator Market was valued at USD 3.19 Billion in 2023 and is projected to hit USD 7.31 Billion by 2032, with a compound annual growth rate (CAGR) of 8.6% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Energy Recovery Ventilator industry over the next decade.

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Global Energy Recovery Ventilator Market: Overview

Energy recovery ventilator (ERV) is installed in places where high concentrations of people are present and there is a need for sufficient fresh air. It helps in lowering the utility expenses and recover energy in the building. Energy recovery ventilator allows fresh air into the building, lowers the CO2 levels, and keeps the residents healthy and alert. It also assists in controlling odors, where the stale air is exhausted out and fresh air is permitted inside the building. It equalizes the pressure by allowing fresh air into the building and the conditioned air is exhausted out. Energy recovery ventilator maintains cool energy in the summer and warm energy in the winter. It reduces the total HVAC equipment capacity and improves indoor air quality. Energy recovery ventilator offers benefits such as meeting the energy standards and ASHRAE ventilation.

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Global Energy Recovery Ventilator Market: Growth Factors

Growing awareness among people regarding indoor environmental quality is driving the global energy recovery ventilator market growth. Energy recovery ventilator offers benefits such as it enhances internal air quality without consuming much energy. Increasing government investments on the research and development activities and the product differentiation in energy recovery ventilator opens up new growth opportunities. It is used in various applications such as residential, commercial, and industrial sectors. Conversely, the high cost that is associated with these ventilators may restrain the global energy recovery ventilator market growth to some extent.

Energy Recovery Ventilator Market Segmental Analysis

The Energy Recovery Ventilator Market is segmented on the basis of type, Application, Technology and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

By type it is segmented into the Wall Mount, Ceiling Mount, and Cabinet-Mount. 

By Application Energy Recovery Ventilator Market is segmented into the residential, industrial, commercial and others.

By Technology Energy Recovery Ventilator Market is segmented into the heat pipe heat exchanger, run-around coil, plate heat exchanger, rotary heat exchanger and others.

The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa

Energy Recovery Ventilator Market Analysis by Type

It is anticipated that the ceiling mount category will hold a significant share of the market because it is growing at the fastest rate. Because the existing wiring and ducting over the walls ultimately reduces the cost and invasiveness of installation, ceiling mounted ERV are in high demand. Wall-mounted products had the second highest CAGR, Because they can be installed in buildings without mechanical ventilation systems. Buildings without mechanical ventilation prefer to install smaller, wall-mounted ERVs that vent directly outside through the exterior wall in buildings with smaller duct spaces. Due to the high costs of installation and upkeep, the cabinet-mounted ERV is expected to grow at a moderate rate over the forecast period. The type of energy recovery ventilator has a lifespan of more than a year and is typically used in the industrial sector.

Energy Recovery Ventilator Market Analysis by Application

Based on the application, In the market for energy recovery ventilator, it is anticipated that the commercial segment will experience greater growth. Energy recovery ventilators are in high demand, according to the segment. It is anticipated that the need for energy recovery ventilators in commercial buildings will rise in response to the rising demand for improved air quality.

The application segment of the energy recovery ventilator market is classified into residential, commercial, industrial, and others. The industrial sector is the largest among others in the energy recovery ventilator market. The changing inclination in the industrial sector towards employee welfare and working conditions has resulted in the dominance of the segment. Based on technology, the global market is fragmented into a run-around coil, rotary heat exchange, heat pipe heat exchanger, plate heat exchange, and others. The geographical segmentation includes North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Energy Recovery Ventilator Market: Report Scope

Global Energy Recovery Ventilator Market: Regional Analysis

North America dominates the market owing to the presence of a pool of energy recovery ventilator manufacturers and the high adoption rate is expected to drive the global energy recovery ventilator market. Imposition of the various norms and policies regarding air quality management anticipates boosting the global market growth in this region. Growing concerns regarding the greenhouse gas emissions, favorable economic growth in the US, and the increasing government support through federal tax credit projects to propel the market in various applications across several sectors such as commercial and residential. Europe is emerging as a potential market for energy recovery ventilator. Rising demand, increasing population, and the increase in the disposal income in the Asia Pacific region motives the growth of the market in the coming years.

Global Energy Recovery Ventilator Market: Competitive Players

The major participant’s that are operating in the global energy recovery ventilator market includes-

• Airxchange Inc.
• United Technologies Corp.
• Blue Star Ltd.
• Nortek Inc.
• LG Electronics.
• Johnson Controls International Plc.
• Fujitsu Ltd.
• Mitsubishi Electric Corp. Ltd.
• Munters Corp.
• Daikin industries Ltd.

This report segments the Global Energy Recovery Ventilator Market as follows:

Global Energy Recovery Ventilator Market: By Type Analysis

• The Wall Mount
• Ceiling Mount
• Cabinet-mount

Global Energy Recovery Ventilator Market: By Application Analysis

• The Residential
• Industrial
• Commercial 
• Others

Global Energy Recovery Ventilator Market: By Technology Analysis

• The Heat Pipe Heat Exchanger
• Run-around Coil
• Plate Heat Exchanger
• Rotary Heat Exchanger And Others

Global Energy Recovery Ventilator Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

What Report Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.