The global energy recovery ventilator market is growing due to increasing demand for energy recovery ventilators from end use industry segments of commercial and residential sectors. Ventilation is an important part in the HVAC systems. Incorrect ventilation system attracts pollutants such as virus, chemicals, ducts, and allows molds to grow rapidly. The use of advanced heating and energy recovery ventilation technology has allowed these systems to provide various benefits and help end-users in choosing from a wide range of high efficiency energy recovery ventilators (ERVs).
The rising demand for fresh air and the need to reduce pollutants are the driving factors for the global energy recovery ventilator market growth. Additionally, increasing demand for energy housing projects and increase in construction activities is expected to drive the growth of the global energy recover ventilator market, during the forecast period (2016 - 2022).
The global energy recovery ventilator market has been segmented by technology, application and region. Based on technology, the market has been segmented into run around coil, heat pipe heat exchanger, plate heat exchanger and rotary heat exchanger. On the basis of application, the market has been segmented into commercial and residential.
Based on technology, the plate heat exchanger segment is expected to witness highest growth in the global energy recovery ventilator market, during the forecast period. Plate heat exchanger maintains the temperature of a building and provides well-organized instrument for heat transfer, which further reduces energy consumption and CO2 emission. Such features support further growth of the plate heat exchanger segment in the global energy recovery ventilator market. The market is expected to grow further, during the forecast period, on account of demand from developing nations such as China, India and Brazil.
On the basis of application, the commercial segment is expected to witness higher growth in the global market for energy recovery ventilator. The segment reports huge demand for energy recovery ventilators. The rising demand for improved air quality is expected to bring an increase in the demand for energy recovery ventilators from commercial buildings.
Geographically, the global energy recovery ventilator market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. The North American market for energy recovery ventilator is expected to witness the highest growth, during the forecast period. The growing efforts for saving energy and reducing energy consumption cost are expected to increase the installation of energy recovery ventilator systems in the region. Various government guidelines, such as Building Efficiency Standards of California and ANSI/ASHRAE/IESNA Standard 90.1, are supportive of increasing adoption of energy recovery ventilators in commercial and residential buildings, which amplifies the demand for energy recovery ventilators in North America.
The global energy recovery ventilator market is hindered by lack of awareness among the potential end users regarding the benefits of energy recovery ventilator systems, such as energy efficiency and environment-friendly features. With constant developments in technology, it is important to create awareness about the benefits of energy recovery ventilator systems among the end users.
The key players operating in the global energy recovery ventilator market are Mitsubishi Electric Corporation, Nortek Air Solutions, LLC, Munters Corporation, Greenheck, Renewaire LLC, Reznor and Zehnder America Inc. Ruskin rooftop system and Innovative Drive Solutions, LLC.
