Energy Recovery Ventilator Market Key Manufacturers, Development Trends and Competitive Analysis

Energy Recovery Ventilator Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Technology Type (Plate Heat Exchanger, Heat Pipe Heat Exchanger, Rotary Heat Exchanger, Run-Around Coil, and Other Types) and End User (Residential, Commercial, and Industrial) and Geography

Increasing Construction of Green Buildings Worldwide to Provide Growth Opportunities for Energy Recovery Ventilator Market
According to our latest market study on "Energy Recovery Ventilator Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Technology Type (Plate Heat Exchanger, Heat Pipe Heat Exchanger, Rotary Heat Exchanger, Run-Around Coil, and Other Types) and End User (Residential, Commercial, and Industrial)" the market was valued at US$ 2.83 billion in 2019 and is expected to grow at a CAGR of 7.8% during the forecast period of 2020 to 2027 to reach US$ 5.06 billion by 2027.

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With the developing economy, innovative building technologies have begun to transform the urban landscape. The advent of low-wattage fluorescent lighting, reflective glass, air conditioning, and structural steel made possible enclosed glass-and-steel building/facilities, which can be cooled and heated through massive heating, ventilating, and air conditioning (HVAC) systems. The Green Building movement has been pushing the HVAC market to develop innovative solutions to reduce energy costs and improve indoor air quality. The air conditioning and ventilation system, a major component in green building design, is on the edge of a paradigm shift. This shift is offering ventilation system manufacturers opportunities for exploring energy efficient designs. Increase in construction of green buildings due to growing awareness of environmental sustainability is expected to drive the growth of the energy recovery ventilator market. Stringent government norms with respect to environmental protection are also supporting the implementation of green infrastructure, which is projected to promote the market.

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Geographically, North America region held the largest share of the energy recovery ventilator market in 2019, followed by the Europe and Asia Pacific. Further, Asia Pacific is projected to witness the highest growth rate over the forecast period of 2020 to 2027. The energy recovery ventilator market has been segmented based on technology type, end user, and geography. In terms of technology type, the market is categorized into plate heat exchanger, heat pipe heat exchanger, rotary heat exchanger, run-around coil, and other types. The plate heat exchanger segment represented the largest share of the overall market during the forecast period. Based on end user, the energy recovery ventilator market is segmented into residential, commercial, and industrial. In 2019, commercial segment accounted for a substantial share in the global energy recovery ventilator market.

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Major companies operating in energy recovery ventilator market include Carrier Corporation; Daikin Industries, Ltd.; Fujitsu General; Greenheck Fan Corporation; Johnson Controls International Plc.; LG Electronics; Mitsubishi Electric Corporation; Munters; Nortek Air Solutions; and Panasonic Corporation. Several other companies are also offering these energy recovery ventilators, which is boosting the growth of the market.

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