Energy Recovery Ventilator Market Report and Forecast 2023-2031

The global energy recovery ventilator market value was USD 3.5 billion in 2022, driven by the stringent energy efficiency regulations structure across the globe. The market size is anticipated to grow at a CAGR of 9.7% during the forecast period of 2023-2031 to achieve a value of USD 8.09 billion by 2031.

Energy Recovery Ventilator Introduction

Energy Recovery Ventilator (ERV) is an HVAC system that helps to improve indoor air quality and reduce energy consumption in buildings by recovering the energy from the outgoing air and transferring it to the incoming air. It is a mechanical ventilation system that uses a heat exchanger to transfer heat and moisture between incoming and outgoing air streams. ERVs are widely used in residential, commercial, and industrial buildings to provide a constant supply of fresh air while minimizing energy consumption.

The global energy recovery ventilator market is expected to grow significantly in the coming years due to increased awareness of energy-efficient HVAC systems, the need for improved indoor air quality, and government initiatives promoting sustainable building practices. The market is also expected to benefit from the increasing demand for green buildings, which require energy-efficient ventilation systems.

North America is expected to be the largest market for energy recovery ventilators, driven by stringent energy efficiency regulations, increased adoption of green building practices, and the presence of major manufacturers in the region. The Asia Pacific region is also expected to witness significant growth in the coming years, driven by the growing construction industry, increasing awareness of energy-efficient systems, and government initiatives promoting sustainable building practices.

Energy Recovery Ventilator Market Scenario

Energy Recovery Ventilators (ERVs) are mechanical ventilation systems that improve indoor air quality while reducing energy consumption by transferring heat and moisture between incoming and outgoing air streams. These systems are designed to meet the demand for energy-efficient ventilation systems in residential, commercial, and industrial buildings. ERVs are equipped with a heat exchanger, which recovers the energy from the outgoing air and uses it to pre-condition the incoming air, thereby reducing the load on heating and cooling systems.

The increasing focus on energy-efficient building systems, along with the rising awareness about indoor air quality, has been driving the growth of the energy recovery ventilator market. Additionally, the stringent regulations mandating the use of energy-efficient building systems are also contributing to the market's growth. The demand for energy recovery ventilators is expected to grow further, driven by the increasing adoption of green building standards and the rising demand for healthy indoor air quality.

The market for energy recovery ventilators is segmented by application into residential, commercial, and industrial. The commercial segment is expected to hold the largest share of the market, driven by the increasing demand for energy-efficient ventilation systems in commercial buildings. The industrial segment is also expected to witness significant growth, driven by the increasing adoption of energy-efficient HVAC systems in the manufacturing and processing industries.

Energy Recovery Ventilator Market Segmentations

Market by Breakup Technology Type

• Rotatory Heat Exchanger
• Run-Around Coil
• Plate Heat Exchanger
• Heat Pipe Heat Exchanger
• Others

Market Breakup by Type

• Ceiling Mount
• Wall-Mount
• Cabinet

Market Breakup by Application

• Residential
• Industrial
• Commercial
• Others

Market Breakup by Region

North America

• United States of America
• Canada

Europe

• United Kingdom
• Germany
• France
• Italy
• Others

Asia Pacific

• China
• Japan
• India
• ASEAN
• Australia
• Others

Latin America

• Brazil
• Argentina
• Mexico
• Others

Middle East and Africa

• Saudi Arabia
• United Arab Emirates
• Nigeria
• South Africa
• Others

Key Trends in the Energy Recovery Ventilator Market

Some key trends in the energy recovery ventilator market are:

• Growing demand for energy-efficient ventilation systems: With the increasing focus on reducing energy consumption and greenhouse gas emissions, there is a rising demand for energy-efficient ventilation systems, including energy recovery ventilators
• Adoption of smart ventilation systems: The use of smart technologies such as IoT (Internet of Things) and AI (Artificial Intelligence) is gaining traction in the HVAC industry. These technologies are being used to develop advanced energy recovery ventilators with better efficiency and performance
• Increasing adoption of green building standards: Many countries are adopting green building standards, which require the installation of energy-efficient ventilation systems, including energy recovery ventilators. This is driving the growth of the energy recovery ventilator market
• Growth of the construction industry: The growth of the construction industry, particularly in developing countries, is driving the demand for energy recovery ventilators. The increasing construction of commercial buildings, residential buildings, and industrial facilities is expected to create significant opportunities for energy recovery ventilator manufacturers
• Rising demand for better indoor air quality: There is a growing awareness of the health hazards of poor indoor air quality. This has led to an increasing demand for energy recovery ventilators, which can improve indoor air quality by providing fresh air and filtering out pollutants
• Increasing demand for residential energy recovery ventilators: The demand for residential energy recovery ventilators is increasing due to the growing trend of energy-efficient homes. Homeowners are looking for ways to reduce their energy bills and improve indoor air quality, which is driving the growth of the residential energy recovery ventilator market

Energy Recovery Ventilator Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Panasonic Corporation
• LG Electronics
• Johnson Controls, Inc
• Fujitsu General Limited
• Carrier Global Corporation
• Nortek Air Solutions, LLC
• Reznor HVAC
• Ostberg Group AB
• Zehnder America
• Ruskin Rooftop Systems
• Loren Cook Company
• Greenheck Fan Corporation
• Broan-Nutone, LLC
• Dunnair (AUST) PTY LTD
• PASCHAL International