Global Energy Recovery Ventilator Market Size By Technology (Rotary heat exchanger, Heat pipe exchanger, Plate heat exchanger, Run-around coil), By Application (Commercial, Residential, Industrial), By Geographic Scope And Forecast
Report ID: 330386|No. of Pages: 202
Global Energy Recovery Ventilator Market Size By Technology (Rotary heat exchanger, Heat pipe exchanger, Plate heat exchanger, Run-around coil), By Application (Commercial, Residential, Industrial), By Geographic Scope And Forecast
Energy Recovery Ventilator Market Size And Forecast
Energy Recovery Ventilator Market size was standing at USD 2.9 Billion in 2022 and is estimated to stand at USD 9.8 Billion by 2030, registering a CAGR of 14.3% from 2024 to 2030.
The rising adoption of sustainable building trends and emerging strict government regulations on energy efficiency are the critical factors keeping the global Energy Recovery Ventilator Market. The increasing emphasis on the environment and nature-friendly practices is also expected to offer expansion opportunities for the global Energy Recovery Ventilator Market. The Global Energy Recovery Ventilator Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Energy Recovery Ventilator Market Definition
The Energy Recovery Ventilator is commonly utilized in residential and commercial buildings to enhance the air quality inside the facility. Energy Recovery Ventilator also contributes to reducing the number of outdoor pollutants and allergens that can enter a building. The need to eliminate outdoor pollutants and allergens that can negatively impact the people residing inside the building or premises.
The Energy Recovery Ventilator works when fresh air passes through a heat exchanger. This heat exchanger is connected to the outgoing stale air. The heat exchanger transfers heat and humidity from the outgoing air to the incoming air. This helps in tempering and humidifying the fresh air before it enters the building. The polluted air is expelled outside and fresh air is revolved inside the premises.
An Energy Recovery Ventilator system is used in large commercial premises and residential buildings such as apartments, offices, hospitals, and others. The equipment is highly beneficial for ventilation buildings such as laboratories and hospitals. These systems are also increasingly installed in residential areas as they improve air quality and eliminate severe allergies and harmful pollutants. The Energy Recovery Ventilator system and the best air quality reduce energy costs.
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Global Energy Recovery Ventilator Market Overview
The increasing trend of developing sustainable buildings is offering growth opportunities for the global Energy Recovery Ventilator Market. The emerging strict government regulations on energy efficiency are the critical factors keeping the global Energy Recovery Ventilator Market. The governments are now making it mandatory for trained professionals to install Energy Recovery Ventilator systems to ensure duct installation, ventilation systems, and air balancing. Also, the strict government regulations to improve the air quality in various industries are helping the global Energy Recovery Ventilator Market to develop.
The increasing emphasis on the environment and nature-friendly practices is also expected to offer expansion opportunities for the global Energy Recovery Ventilator Market. Fresh air quality is becoming a concern now and must be addressed. Bad air quality can adversely affect the health, productivity, and well-being of occupants. Hence, the need for energy recovery ventilators is increasing at a staggering rate.
The system effectively replaces the stale air and distributes quality air that is good to inhale. However, the complex installation process is creating barriers to market growth. Sometimes, it is challenging to integrate energy recovery ventilators at a conventional building due to the space not being designed for system installation. This can act as a limiting factor for the global Energy Recovery Ventilator Market.
Global Energy Recovery Ventilator Market Segmentation Analysis
The Global Energy Recovery Ventilator Market is Segmented on the Basis of Technology, Application, And Geography.
Energy Recovery Ventilator Market, By Technology
- Rotary heat exchanger
- Heat pipe exchanger
- Plate heat exchanger
- Run-around coil
- Others
Based on Technology, The Global Energy Recovery Ventilator Market is distributed based on technology into rotary heat exchangers, heat pipe exchangers, plate heat exchangers, run-around coils, and others. The plate heat exchanger will obtain the highest market share owing to the heat-transferring properties between two fluids with diverse temperatures.
Energy Recovery Ventilator Market, By Application
- Commercial
- Residential
- Industrial
Based on Application, The Global Energy Recovery Ventilator Market is further bifurcated into commercial, residential, and industrial based on applications. The commercial segment will obtain the highest number of shares in the market. The commercial sector is a major user of the Energy Recovery Ventilator Market. Hospitals, schools, labs, and other public facilities come under commercial space.
Energy Recovery Ventilator Market, By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Based on Geography, the global automotive ignition systems market is divided into Asia Pacific, North America, the Middle East, Europe, and Latin America. North America will dominate the global Energy Recovery Ventilator Market due to the high adoption of these systems in commercial and residential areas. Asia Pacific will continue to grow and show lucrative growth options for the region.
Key Players
The “Global Energy Recovery Ventilator Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Johnson Controls, Daikin Industries, Carrier, Mitsubishi Electric Corp, LG Electronics, Nortek Air Solutions, Fujitsu Limited, Greenheck, Trane, and Lennox International.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the players mentioned above globally.
Key Developments
- In September 2022, Daikin Industries introduced its latest commercial, residential, and applied product range at an exhibition in Melbourne. Daikin is a leader in providing innovative climate control and air purifying solutions.
- In August 2022, Mitsubishi Electric Corporation showcased its expanded product ranges at ARBS 2022. The company has introduced new products based on a split system and ducted range to enhance residential air quality and conditioning.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Energy Recovery Ventilator Market. We cover the major impacting factors driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Energy Recovery Ventilator Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Johnson Controls, Daikin Industries, Carrier, Mitsubishi Electric Corp, LG Electronics, Nortek Air Solutions, Fujitsu Limited, Greenheck, Trane, and Lennox International. |
| SEGMENTS COVERED |
|
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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Data Collection Matrix
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Industry Analysis Matrix
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