Energy Recovery Ventilator Market Is Growing Steadily At A CAGR Of 7.8% Till 2027 Led By Daikin North America LLC., Mitsubishi Electric, CORE Energy Recovery Solutions

According to the new research report titled “Energy Recovery Ventilator Market Forecast to 2027— COVID-19 Impact and Global Analysis,” published by The Insight Partners, the global energy recovery ventilator market is expected to reach US$ 5.06 billion by 2027, registering a CAGR of 7.8% during the forecast period 2020–2027.

Energy recovery ventilators (ERVs) are connected and used with a regular heating, ventilation, and air conditioning (HVAC) unit to draw clean and fresh air and remove stale air in residential as well as commercial buildings. Energy recovery ventilation systems also help in capturing contaminants, allergens, and pollutants, to ensure that the air in homes or offices is clean as well as healthy. Energy recovery ventilators are designed to offer energy and cost savings in standard mechanical ventilation systems as they precondition outside air which reduces the load on HVAC units and also decreases the required HVAC capacity.

Get a Sample Copy of the Report @ https://bit.ly/3hFycO1

In addition to energy savings, increasing number of codes and standards developed by organizations, such as American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE), U.S. Green Building Council (USGBC), and Illuminating Engineering Society, is one of the major driving factor for rising adoption of energy recovery ventilators, especially in North America. Rising levels of urbanization and industrialization in developing countries due to high population growth coupled with HVAC infrastructure upgrade and growing indoor air quality standards in developed regions are some of the key factors that are expected to boost the demand for energy recovery ventilators worldwide over the forecast period.

However, regular maintenance, such as cleaning filters, grilles, and ductwork, is needed to ensure the ventilation system operates as intended, which, in turn, leads to high cost expenditure. This ultimately impacts the direct and indirect cost of the product. Also, the total cost incurred for the implementation of energy recovery ventilator is high which may eventually affect the average selling price of the energy recovery ventilator. Thus, complexity in implementation and high maintenance cost of products is restricting the growth of energy recovery ventilator market.

Ask For Discount Here: https://bit.ly/2Qx0y1d

Key Findings of Study:

The energy recovery ventilator market is broadly segmented into five major regions—North America, Europe, APAC, MEA, and SAM. Currently, the global market is predominantly dominated by the developed regions such as North America and Europe region accounting for ~60% of the global market collectively. North America is the leading region in the energy recovery ventilator market and is anticipated to be the largest revenue contributor throughout the forecast period. In North America, the implementation of energy recovery ventilation system is backed by large-scale investments from the commercial sector.

North America’s energy recovery ventilator market is primarily driven by increasing demand for energy recovery ventilators from the BFSI, retail, IT & telecom, healthcare, and educational institutes.
With the leading manufacturers such as RenewAire; Carrier; Daikin North America LLC.; Mitsubishi Electric; CORE Energy Recovery Solutions; Nortek Air Solutions, LLC; and Greenheck Fan Corporation present in the US and their focus on energy recovery ventilator R&D and production.

However, from a growth perspective, Asia-Pacific is anticipated to gain significant traction and expected to register the most attractive growth rate during the forecast period. Moreover, Middle East & Africa and South America are anticipated to witness a moderate CAGR during the forecast period. Significant investments in construction industry, increase in per capita income, rapid increase in commercialization, and growth in retail sector across MEA and SAM regions are the major factors that are expected to boost the adoption of energy recovery ventilators in the next few years.

Purchase a Copy of this Report @ https://bit.ly/3luTrUY

Reasons for buy this Report
• Highlights key business priorities to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the Energy Recovery Ventilator market, thereby allowing players to develop effective long term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest to components, type, and end-users.

Contact Us:
Call: +1-646-491-9876
Email: sales@theinsightpartners.com

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.