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The energy recovery ventilator is the energy recovery method and is regarded to be a significant element for improving indoor air quality in an HVAC system. It suits the cold climate atmosphere, in homes where the warmth of the season is not abundant, and also in homes in hotter environments where the external humidity is high. The alarming rise in air pollution has boosted consumer concern about health problems.
This will result in increased demand for the market for energy recovery ventilators in the years to come. In some areas, rapid growth in air pollution is likely to boost demand for the market for energy recovery ventilators in the coming years. This may be another factor that will considerably increase this market's development in the near future.
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The energy recovery ventilator market is bifurcated as technology and application. Due to increased demand for plate heat exchangers from the business and residential industries to handle, regulate and track energy consumption in houses, the plate heat exchanger segment is anticipated to lead the energy recovery ventilator industry among technology kinds.
The development of the energy recovery ventilator market business application segment can be ascribed to the growing use of these ventilators in business and residential applications. In addition, increasing the number of green buildings, formulating and rigorously implementing various public laws to decrease energy consumption in houses, and rising demand for highly efficient energy recovery ventilators around the globe also contribute to the development of the market's business application segment.
The energy recovery ventilator market is increasing due to the growing need to reduce energy consumption in residential & commercial buildings along with the increasing number of green building across the globe & growing importance of indoor air quality. In addition, increasing developments in power recovery ventilators to satisfy the tailored ventilation demands of different end customers are an option for the growth of the global market for energy recovery ventilators.
Lack of knowledge of the advantages provided by energy recovery ventilators and elevated costs associated with purchasing, installing and maintaining energy recovery ventilators are the factors anticipated to inhibit the development of the global energy recovery ventilator industry.
Some of the key players in energy recovery ventilator market are Mitsubishi Electric Corporation, Daikin, Panasonic Corporation, LG Electronics, Johnson Controls, Munters, FUJITSU GENERAL, Carrier Corporation, Nortek Air Solutions, Greenheck Fan Blue Star Ltd., Renewaire, Reznor and Zehnder America Inc, HEATEX AB, Ostberg Group, and Ruskin Rooftop Systems.
· Plate Heat Exchanger
· Heat Pipe Heat Exchanger
· Rotatory Heat Exchanger
· Run Around Coil
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, and Rest of Latin America)
· Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
The energy recovery ventilator market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to be the most dominant player owing to the growing demand for energy recovery ventilators from the residential and commercial sectors of the region. The European market is expected to be a major player due to growing concerns regarding greenhouse gas emissions and favorable economic growth. The Asia Pacific is expected to grow owing to rising demand, increasing population, and the increase in the disposal income. Latin America and the Middle East and Africa are expected to grow in the upcoming years due to rapid industrialization and urbanization.
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