Energy Recovery Ventilator Market is Poised to Grow at a CAGR of 11.4% during the Forecast Period of 2022-2031

The report predicts the global Energy Recovery Ventilator Market to grow with a CAGR of 11.4% over the forecast period from 2022-2031.

“In terms of value, the energy recovery ventilator market is projected to grow at a CAGR of 11.4% from 2022 to 2031.”

The energy recovery ventilator market is projected to grow from USD 1.97 billion in 2022 to USD 3.37 billion by 2031, at a CAGR of 11.4% from 2022 to 2031. Growing need to reduce energy consumption in residential and commercial buildings, increasing number of green buildings across the globe, and growing awareness to maintain the quality of indoor air are the key factors driving the growth of the energy recovery ventilator market across the globe. However, lack of awareness about benefits offered by energy recovery ventilators and high costs involved in the purchase, installation, and maintenance of energy recovery ventilators act as restraints to the growth of the energy recovery ventilator market.

“Among technology types, the rotary heat exchanger segment of the energy recovery ventilator market is projected to grow at the highest CAGR between 2022 and 2031.”

The rotary heat exchanger technology type segment of the energy recovery ventilator market is projected to grow at the highest CAGR during the forecast period. The growth of this segment of the market can be attributed to the compact design and high efficiency of rotary heat exchangers.

“Among applications, the commercial segment of the energy recovery ventilator market is projected to grow at the highest CAGR during the forecast period.”

The commercial application segment of the energy recovery ventilator market is projected to grow at the highest CAGR from 2022 to 2031. Energy recovery ventilators have proven to be cost-effective ventilation solutions that are ideal for delivering fresh outdoor air inside buildings while reducing the requirements for mechanical heating, cooling, and humidification of buildings. These ventilators improve the humidity level of inside air and maintain superior indoor air quality (IAQ).

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“The North America energy recovery ventilator market is projected to grow at the highest CAGR from 2022 to 2031.”

The North America energy recovery ventilator market is projected to grow at the highest CAGR during the forecast period. The growth of the North America energy recovery ventilator market can be attributed to the formulation and implementation of various government regulations regarding the use of these ventilators in green buildings as well as retrofitting the existing buildings with energy recovery ventilators. The increase in the number of commercial buildings in the region is also expected to fuel the growth of the North America energy recovery ventilator market between 2022 and 2031.

The break-up of profiles of primary participants for the report has been given below:

  • By Company Type: Tier 1 – 25%, Tier 2 – 35%, and Tier 3 – 40%
  • By Designation: C Level – 25%, D Level – 25%, and Others – 50%
  • By Region: Asia Pacific – 40%, Europe – 25%, North America – 22%, the Middle East & Africa – 8%, and South America – 5%

As a part of qualitative analysis, this research study provides a comprehensive overview of drivers, restraints, opportunities, and challenges for the energy recovery ventilator market. It also discusses competitive strategies adopted by the leading market players such as 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), among others to strengthen their position in the energy recovery ventilator market.

Research Coverage:

This report defines, segments, and projects the energy recovery ventilator market based on technology type, application, and region. It strategically profiles key players and comprehensively analyzes their market shares and core competencies. It also tracks and analyzes competitive developments such as expansions, acquisitions & mergers, and new product launches in the energy recovery ventilator market.

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Reasons to Buy the Report:

This report is expected to help market leaders/new entrants in this market by providing them the closest approximations of revenues of the energy recovery ventilator market and its subsegments. This report is also expected to help the stakeholders to obtain an improved understanding of the competitive landscape, gain insights to enhance the position of their businesses, and enable them to make suitable go-to-market strategies. The report is expected to enable the stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities

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