Energy Recovery Ventilator Market: Forecast for Growth and Trends by 2024

The global energy recovery ventilator market size was valued at USD 3.44 billion in 2022. The market is projected to grow from USD 3.72 billion in 2023 to USD 6.67 billion by 2030, exhibiting a CAGR of 8.7% during the forecast period.

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Industry developments of energy recovery ventilator market:

• Mitsubishi Electric Corporation unveiled an expanded lineup of products aimed at enhancing residential air conditioning. The company introduced new offerings that utilize both split system and ducted technologies reflecting their extensive expertise in air treatment and energy recovery ventilators.
• Greenheck Fan Corporation announced launch of a new energy recovery ventilator for multi-family residential buildings. The company came up with four different models that gave a variety of options and accessories for the customer.
• Holtop developed and launched a new energy recovery ventilator equipped with DX coils that offers cool and warm fresh air to customers. It operates with both VRF/VRV for optimal indoor comfort.
• Mitsubishi Electric Trane HVAC US launched Lossnay energy recovery ventilator units that make use of a free-cooling function that assist in increasing efficiency and reducing cost
• Mitsubishi Electric Corporation’s European subsidiary named ‘Mitsubishi Electric Europe B.V.’ acquired AQS PRODUKTER AB to strengthen commercial cooling and heating products in Sweden and total solution capabilities Mitsubishi Electric Europe B.V.

Top Companies of energy recovery ventilator market:

• Carrier (United Technologies) (U.S.)
• Johnson Controls (Ireland)
• Daikin Industries, Ltd. (Japan)
• Mitsubishi Electric Corporation (Japan)
• LG Electronics (South Korea)
• Nortek Air Solutions, LLC (U.S.)
• Lennox International Inc. (U.S.)
• Greenheck Fan Corporation (U.S.)
• Fujitsu Limited (Japan)
• Zehnder Group AG (Switzerland)

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Energy Recovery Ventilator Market Segmentation

Energy Recovery Ventilator Market Share, Size & Industry Analysis, By Type (Wall-mount, Ceiling-mount, and Cabinet), By Application (Residential, Commercial, and Others), and Regional Forecast Between, 2023-2030

Reasons to buy this report:

The present state of the market, trends, growth areas, and competitive dynamics in the energy recovery ventilator market are all thoroughly examined in this report. It helps companies to see areas for expansion and improvement while pointing out possible difficulties and dangers. The report’s evaluation of product portfolios and business segments helps stakeholders make better-informed investments and market strategies.

Developing successful success strategies in the energy recovery ventilator market can be facilitated and decision-making greatly enhanced by having a solid understanding of the industry dynamics described in the report. All things considered, this report is a great resource for anyone looking for in-depth knowledge about this quickly evolving industry.

Regional Atributes:

• North America (By Type, By Application, and By Country)
  • U.S. (By Application)
  • Canada (By Application)
• Europe (By Type, By Application, and By Country)
  • Germany (By Application)
  • U.K. (By Application)
  • France (By Application)
  • Rest of Europe
• Asia Pacific (By Type, By Application, and By Country)
  • China (By Application)
  • Japan (By Application)
  • India (By Application)
  • Southeast Asia (By Application)
  • Rest of Asia Pacific
• Middle East and Africa (By Type, By Application, and By Country)
  • GCC (By Application)
  • South Africa (By Application)
  • Rest of Middle East & Africa
• Latin America (By Type, By Application, and By Country)
  • Brazil (By Application)
  • Mexico (By Application)
  • Rest of Latin America

Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Industry Developments – Merger, Acquisitions, and Partnerships
  • Porter’s Five Forces Analysis
  • SWOT Analysis
  • Technological Developments
  • Value Chain Analysis

TOC Continued…!

Energy Recovery Ventilator Market Drivers and restrains:

• Driver: Increasing Focus on Energy EfficiencyThe growing emphasis on energy conservation and reducing operational costs drives the adoption of energy recovery ventilators (ERVs), which enhance HVAC system efficiency by recovering and reusing energy from exhaust air.
• Driver: Rising Demand for Improved Indoor Air QualityIncreased awareness of indoor air quality and the need for effective ventilation solutions boost the demand for ERVs, which provide fresh air while minimizing energy loss and maintaining optimal indoor environments.
• Driver: Stringent Building Codes and RegulationsStricter building codes and regulations that mandate energy-efficient systems and improved ventilation standards drive the adoption of ERVs to comply with these requirements and achieve energy efficiency goals.
• Restraint: High Initial CostsThe substantial upfront investment required for purchasing and installing energy recovery ventilators can be a barrier for some consumers and businesses, particularly those with budget constraints.
• Restraint: Maintenance and Operational ComplexityEnergy recovery ventilators require regular maintenance and can involve complex installation processes, which may deter some users and add to the overall cost of ownership and operation.

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