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Energy Recovery Ventilator (ERV) Market to Reach $5.07 bn by 2027; Increasing Feasibility of Wall-mounted ERV to Augment Growth

June 01, 2020 | Machinery & Equipment

The global energy recovery ventilator market size is predicted to reach USD 5.07 billion by 2027. The rising awareness about the indoor air pollutants such as mold, lead particles, nitrogen oxide and carbon monoxide (CO) will spur opportunities for the market during the forecast period, mentioned in a report, titled Energy Recovery Ventilator (ERV) Market Size, Share & Industry Analysis, By Type (Wall-mount, Ceiling-mount, Cabinet), By Application (Residential, Commercial, Others) and Regional Forecast, 2020-2027” the market size stood at 2.71 billion in 2019 and is likely to register a CAGR of 8.2% between 2020 to 2027.


Release of AIR DESIGN’s PREMA to Promote Business Expansion


AIR DESIGN, an HVAC company also a part of Elta Group announced the launch of PREMA, an innovative range of horizontal energy recovery ventilation units, specifically intended to improve indoor air quality along with the eco-design directive as per the building regulations. The new range of ERV units will uplift the energy recovery ventilator market share because it is the only lightest and compact energy recovery ventilation units available on the market. Moreover, the units with the airflow range of 0.006 – 0.936 m³/s will be used in ceiling voids at schools and offices as well as commercial construction, such as hotels, restaurants, shops, and others, thus enabling full flexibility. Furthermore, the increasing demand for small units, low energy filters, easy installation, and low maintenance will spur openings for the PREMA range, which in turn, will augur well for the market. In addition, the growing collaborations and partnerships among major players will foster the growth of the market in the forthcoming years. For instance, in May 2018 Ingersoll Rand, a major producer of innovative products announced that it has signed an agreement with Mitsubishi Electric Corporation, an electronics multinational company based in Japan for the distribution of ductless and variable refrigerant flow (VRF) heating and air conditioning solutions in the U.S. and selected Latin America countries. The Mitsubishi distribution channels will be used for supply and trade operations.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/energy-recovery-ventilator-market-101139


Implementation of Cutting-edge Technology in ERV Systems to Foster Growth


The increasing government initiatives and policies for the development of energy-efficient buildings will bolster the healthy growth of the market. The growing focus to curb emission emissions in the construction of residential and commercial spaces will further augment the growth of the market. As per the U.S. Department of Energy, building waste accounts for 30% of total energy intake in the U.S. The growing proclivity for efficient building designs and effective power management will support the expansion of the market during the forecast period. Moreover, the rising inclination for excellent indoor air quality among occupants will boost the market during the forecast period. As per the Environmental Protection Agency, the productivity of workers at the workplace increases to five to six percent when indoor air quality is viewed as “good.” In addition, the introduction of innovative and superior quality ERV systems by leading industry players will subsequently foster healthy growth of the market in the foreseeable future.


Daikin and Zehnder’s Product Portfolio to Reinforce Business Proceedings


The market is dominated by the presence of Daikin and Zehnder Group with its enhanced product portfolio. The company is focused on adopting various strategies to strengthen its position in the market and expand its distribution across the residential and commercial sectors. In February 2019, Daikin Group announced that it has acquired Cool international Holding GmbH through its subsidiary in Europe named Daikin Europe N.V. The deal will help the company to expand its commercial refrigeration business and enhance its product offerings related to energy savings and refrigerants. Moreover, the introduction of innovative products by the major company will have a tremendous impact on the market.


The Report Lists the Main Companies in the Energy Recovery Ventilator (ERV) Market:



  • Carrier (United Technologies) (United States)

  • Johnson Controls (Ireland)

  • Daikin Industries (Japan)

  • Trane (Ireland)

  • Nortek Air Solutions, LLC (United States)

  • Lennox International Inc. (United States)

  • Mitsubishi Electric (Japan)

  • Greenheck (United States)

  • Fujitsu Limited (Japan)

  • Zehnder (Switzerland)

  • LG Electronics (South Korea)

  • HIMPEL (South Korea)

  • Renewaire (United States)

  • Ostberg (Sweden)


Further Report Findings:



  • Regional Analysis: North America generated a revenue of USD 929.8 million in 2019 and is expected to remain dominant during the forecast period owing to the rising focus towards a safe and well-suited indoor environment in the building. The market in Asia Pacific is likely to witness a significant growth rate during the forecast period owing to the expansion of the commercial and residential sectors in the region.

  • Leading Segment: The wall-mounted segment is expected to hold the lion’s share during the forecast period owing to its easy installation and low maintenance factor.


The ERV Market is Segmented into:








































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD billion) Units (Thousand Units)



Segmentation



By Type



  • Wall-Mount

  • Ceiling-Mount

  • Cabinet



By Application



  • Residential

  • Commercial

  • Others (Industrial)



By Region



  • North America (the U.S. and Canada)

  • Europe (UK, Germany, France, Rest of Europe)

  • Asia Pacific (China, Japan, India, Southeast Asia, and the Rest of Asia Pacific)

  • Rest of the World (the Middle East & Africa and Latin America)


Energy recovery ventilator (ERV) Market
  • PDF
  • 2018
  • 2016-2018
  • 160

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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