The Energy Recovery Ventilator Market size was estimated at USD 3.45 Billion in 2022 and is expected to reach USD 6.62 Billion by 2030 at a CAGR of 8.5% during the forecast period of 2023-2030.
The COVID-19 epidemic has had an unprecedented and overwhelming worldwide impact. Despite this, demand for energy recovery ventilators has increased across all areas. Our research indicates that the worldwide market shrank by 7.6% in 2020 as opposed to growing on average per year between 2017 and 2019. When the pandemic is finished, this market's demand and growth will resume to pre-pandemic levels, which would explain the increase in CAGR. A central ventilation system called an energy recovery ventilator (ERV) removes indoor pollutants from the air and regulates the relative humidity in the room to bring in fresh air. It is sometimes referred to as an ERV air exchanger or an ERV ventilation system. Pollutants, pollen, and other dangerous impurities are captured by it to guarantee that only clean air enters the available area in the room.
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Indoor air quality (IAQ) is two to five times worse than outside air quality, according to the Environmental Protection Agency (EPA). A compact building's poor interior air quality is caused by inadequate ventilation. Sick building syndrome (SBS) is one of the many health problems that can arise from breathing in polluted air. ERV, which eliminates moisture and bad air and enhances indoor air quality, is becoming more and more popular as a means of preventing such negative effects. The worldwide market for energy recovery ventilation systems is anticipated to develop in the future years due to the increasing requirement for ventilation.
MARKET DYNAMICS
DRIVERS
Energy Efficiency standards: Since ERVs help reduce building energy usage, the adoption of these devices is being driven by increasing energy efficiency standards as well as environmental concerns.
Increasing Energy Costs: In order to save money on heating and cooling, companies and consumers are investing in energy-efficient refrigerators (ERVs).
Growing Health Concerns About Indoor Air Quality (IAQ): As ERVs enhance ventilation and lower indoor pollutants, there has been a sharp increase in demand for them as a result of growing health concerns about IAQ.
RESTRAIN
Maintenance Requirements: In order to maintain maximum performance, ERVs need to undergo routine maintenance, which can be expensive and time-consuming for end users.
Market Fragmentation: With so many manufacturers and suppliers, the ERV market is extremely fragmented, making it difficult for customers to select the best system.
OPPORTUNITY
Emerging Markets: With rising worldwide awareness of IAQ and energy efficiency concerns, emerging markets provide substantial development potential for ERV suppliers and manufacturers.
Customization and Integration: Businesses now have the chance to provide customized solutions due to the increasing demand for HVAC systems that are connected with ERVs.
Technological Innovation: The market's potential may be increased by pursuing ongoing research and development in ERV technology, which might result in more effective and affordable solutions.
CHALLENGES
Competitive Landscape: There are a number of companies producing comparable goods in the competitive ERV industry. Businesses need to set themselves apart via marketing and innovation.
Regulatory Modifications: Product conformity and market accessibility may be impacted by modifications to energy efficiency and environmental standards.
Education and Awareness: The advantages of ERVs are not well-known to end users. It might be difficult to raise customer awareness and educate them about the benefits of these systems.
IMPACT OF RUSSIA-UKRAINE WAR
The dispute may affect the manufacturing and accessibility of ERV parts and equipment by upsetting the world's supply chain. The conflict may make it difficult for ERV makers to obtain parts and supplies from the area or via other methods. The entire cost of producing ERVs and their operating expenses might be affected by swings in energy prices and currency exchange rates brought on by instability in the area. This may have an impact on ERV market pricing, perhaps raising costs. Economic instability brought on by widespread geopolitical crises may have an impact on real estate development and building projects. The need for ERVs in residential and commercial buildings may be impacted by slower economic development or a recession in some areas. Different nations' energy strategies can be impacted by geopolitical events. Modifications to energy policy may have an effect on the rules and incentives pertaining to energy-efficient technology, such as ERVs. Governments have the ability to reorder their priorities, which may impact the inclusion of ERVs in building standards and codes.
IMPACT OF ONGOING RECESSION
Construction and building renovations usually decline during recessions because firms and households may postpone or abandon projects because of unpredictability in the economy. It is anticipated that there will be less demand for ERVs, which are frequently used in new building and remodeling projects. Sales of ERV units may decrease as a result of this. Demand for ERVs has decreased, although the extent of the decline varies by location; those most hit by the recession have seen the biggest decline in demand. A mild recession may cause the demand for ERVs to decline by around 10% to 20%, whilst a severe recession may cause the demand to decline by as much as 30% or more. Prices may be under pressure from declining demand and heightened competition in a limited market. In order to stay competitive, manufacturers can reduce their pricing, which might result in ERV system prices dropping. Prices might drop anywhere from 5% to 15% or more, depending on the state of the economy and the depth of the recession.
By Type
Wall-Mount
Celling-Mount
Cabinet
By Application
Residential
Commercial
Others (Industrial)
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REGIONAL COVERAGE
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
REGIONAL ANALYSES
The market size, trends, and analysis for energy recovery ventilators worldwide are presented according to the aforementioned criteria: country, type, technology, and application. The United States, Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, United Kingdom, Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirates, Saudi Arabia, Egypt, South Africa, Israel, and the Rest of Middle East and Africa are the nations covered by the Energy Recovery Ventilator market report.
Because of the high acceptance rate and abundance of energy recovery ventilator manufacturers in the region, North America leads the global market for these devices.
Due in large part to the region's growing population and increased disposable income, Asia-Pacific is predicted to see strong growth between 2023 and 2030. The report's nation section additionally includes specific market-impacting variables and domestic regulatory changes that have an effect on the market's present and potential future trends. The market situation for each country is predicted using a variety of data sources, including case studies, technological trends, Porter's five forces analysis, and upstream and downstream value chain analysis. In addition, the existence and accessibility of international brands, the difficulties they encounter as a result of intense or little rivalry from regional and local brands, the effect of trade and domestic tariffs, and the trade routes are taken into account while supplying prediction analysis for the national data.
The major Key players are Carrier (United Technologies), Johnson Controls, Daikin Industries, Ltd., Mitsubishi Electric Corporation, Trane, LG Electronics, Nortek Air Solutions, LLC, Lennox International Inc., Greenheck, Fujitsu Limited, and others.
Daikin Industries, Ltd-Company Financial Analysis
RECENT DEVELOPMENT
IRA: In Sep 2022, The IRA is a significant federal government commitment to clean energy and related technologies, providing much-needed assistance to investors and project developers in renewable energy projects.
| Report Attributes | Details |
| Market Size in 2022 | US$ 3.45 Bn |
| Market Size by 2030 | US$ 6.62 Bn |
| CAGR | CAGR of 8.5% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Wall-Mount, Celling-Mount, Cabinet) • By Application(Residential, Commercial, Others (Industrial)) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Carrier (United Technologies), Johnson Controls, Daikin Industries, Ltd., Mitsubishi Electric Corporation, Trane, LG Electronics, Nortek Air Solutions, LLC, Lennox International Inc., Greenheck, Fujitsu Limited |
| Key Drivers | • Energy Efficiency standards: Since ERVs help reduce building energy usage, the adoption of these devices is being driven by increasing energy efficiency standards as well as environmental concerns. • Increasing Energy Costs: In order to save money on heating and cooling, companies and consumers are investing in energy-efficient refrigerators (ERVs). • Growing Health Concerns About Indoor Air Quality (IAQ): As ERVs enhance ventilation and lower indoor pollutants, there has been a sharp increase in demand for them as a result of growing health concerns about IAQ. |
| Market Restrain | • Maintenance Requirements: In order to maintain maximum performance, ERVs need to undergo routine maintenance, which can be expensive and time-consuming for end users. • Market Fragmentation: With so many manufacturers and suppliers, the ERV market is extremely fragmented, making it difficult for customers to select the best system. |
The Energy Recovery Ventilator Market is expected to grow at 8.5% CAGR from 2023 to 2030.
According to our analysis, the Energy Recovery Ventilator Market is anticipated to reach USD 6.62 billion By 2030.
Driven by the growing significance of indoor air quality (IAQ), the global market.
The leading participants in the, Carrier (United Technologies), Johnson Controls, Daikin Industries, Ltd., Mitsubishi Electric Corporation, Trane, LG Electronics, Nortek Air Solutions.
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Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Energy Recovery Ventilator Market, By Type
8.1 Wall-Mount
8.2 Celling-Mount
8.3 Cabinet
9. Energy Recovery Ventilator Market, By Application
9.1 Residential
9.2 Commercial
9.3 Others (Industrial)
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Energy Recovery Ventilator Market by Country
10.2.2North America Energy Recovery Ventilator Market By Type
10.2.3 North America Energy Recovery Ventilator Market By Application
10.2.4 USA
10.2.4.1 USA Energy Recovery Ventilator Market By Type
10.2.4.2 USA Energy Recovery Ventilator Market By Application
10.2.5 Canada
10.2.5.1 Canada Energy Recovery Ventilator Market By Type
10.2.5.2 Canada Energy Recovery Ventilator Market By Application
10.2.6 Mexico
10.2.6.1 Mexico Energy Recovery Ventilator Market By Type
10.2.6.2 Mexico Energy Recovery Ventilator Market By Application
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Energy Recovery Ventilator Market by Country
10.3.1.2 Eastern Europe Energy Recovery Ventilator Market By Type
10.3.1.3 Eastern Europe Energy Recovery Ventilator Market By Application
10.3.1.4 Poland
10.3.1.4.1 Poland Energy Recovery Ventilator Market By Type
10.3.1.4.2 Poland Energy Recovery Ventilator Market By Application
10.3.1.5 Romania
10.3.1.5.1 Romania Energy Recovery Ventilator Market By Type
10.3.1.5.2 Romania Energy Recovery Ventilator Market By Application
10.3.1.6 Hungary
10.3.1.6.1 Hungary Energy Recovery Ventilator Market By Type
10.3.1.6.2 Hungary Energy Recovery Ventilator Market By Application
10.3.1.7 Turkey
10.3.1.7.1 Turkey Energy Recovery Ventilator Market By Type
10.3.1.7.2 Turkey Energy Recovery Ventilator Market By Application
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Energy Recovery Ventilator Market By Type
10.3.1.8.2 Rest of Eastern Europe Energy Recovery Ventilator Market By Application
10.3.2 Western Europe
10.3.2.1 Western Europe Energy Recovery Ventilator Market by Country
10.3.2.2 Western Europe Energy Recovery Ventilator Market By Type
10.3.2.3 Western Europe Energy Recovery Ventilator Market By Application
10.3.2.4 Germany
10.3.2.4.1 Germany Energy Recovery Ventilator Market By Type
10.3.2.4.2 Germany Energy Recovery Ventilator Market By Application
10.3.2.5 France
10.3.2.5.1 France Energy Recovery Ventilator Market By Type
10.3.2.5.2 France Energy Recovery Ventilator Market By Application
10.3.2.6 UK
10.3.2.6.1 UK Energy Recovery Ventilator Market By Type
10.3.2.6.2 UK Energy Recovery Ventilator Market By Application
10.3.2.7 Italy
10.3.2.7.1 Italy Energy Recovery Ventilator Market By Type
10.3.2.7.2 Italy Energy Recovery Ventilator Market By Application
10.3.2.8 Spain
10.3.2.8.1 Spain Energy Recovery Ventilator Market By Type
10.3.2.8.2 Spain Energy Recovery Ventilator Market By Application
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Energy Recovery Ventilator Market By Type
10.3.2.9.2 Netherlands Energy Recovery Ventilator Market By Application
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Energy Recovery Ventilator Market By Type
10.3.2.10.2 Switzerland Energy Recovery Ventilator Market By Application
10.3.2.11 Austria
10.3.2.11.1 Austria Energy Recovery Ventilator Market By Type
10.3.2.11.2 Austria Energy Recovery Ventilator Market By Application
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Energy Recovery Ventilator Market By Type
10.3.2.12.2 Rest of Western Europe Energy Recovery Ventilator Market By Application
10.4 Asia-Pacific
10.4.1 Asia Pacific Energy Recovery Ventilator Market by Country
10.4.2 Asia Pacific Energy Recovery Ventilator Market By Type
10.4.3 Asia Pacific Energy Recovery Ventilator Market By Application
10.4.4 China
10.4.4.1 China Energy Recovery Ventilator Market By Type
10.4.4.2 China Energy Recovery Ventilator Market By Application
10.4.5 India
10.4.5.1 India Energy Recovery Ventilator Market By Type
10.4.5.2 India Energy Recovery Ventilator Market By Application
10.4.6 Japan
10.4.6.1 Japan Energy Recovery Ventilator Market By Type
10.4.6.2 Japan Energy Recovery Ventilator Market By Application
10.4.7 South Korea
10.4.7.1 South Korea Energy Recovery Ventilator Market By Type
10.4.7.2 South Korea Energy Recovery Ventilator Market By Application
10.4.8 Vietnam
10.4.8.1 Vietnam Energy Recovery Ventilator Market By Type
10.4.8.2 Vietnam Energy Recovery Ventilator Market By Application
10.4.9 Singapore
10.4.9.1 Singapore Energy Recovery Ventilator Market By Type
10.4.9.2 Singapore Energy Recovery Ventilator Market By Application
10.4.10 Australia
10.4.10.1 Australia Energy Recovery Ventilator Market By Type
10.4.10.2 Australia Energy Recovery Ventilator Market By Application
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Energy Recovery Ventilator Market By Type
10.4.11.2 Rest of Asia-Pacific APAC Energy Recovery Ventilator Market By Application
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Energy Recovery Ventilator Market by Country
10.5.1.2 Middle East Energy Recovery Ventilator Market By Type
10.5.1.3 Middle East Energy Recovery Ventilator Market By Application
10.5.1.4 UAE
10.5.1.4.1 UAE Energy Recovery Ventilator Market By Type
10.5.1.4.2 UAE Energy Recovery Ventilator Market By Application
10.5.1.5 Egypt
10.5.1.5.1 Egypt Energy Recovery Ventilator Market By Type
10.5.1.5.2 Egypt Energy Recovery Ventilator Market By Application
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Energy Recovery Ventilator Market By Type
10.5.1.6.2 Saudi Arabia Energy Recovery Ventilator Market By Application
10.5.1.7 Qatar
10.5.1.7.1 Qatar Energy Recovery Ventilator Market By Type
10.5.1.7.2 Qatar Energy Recovery Ventilator Market By Application
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Energy Recovery Ventilator Market By Type
10.5.1.8.2 Rest of Middle East Energy Recovery Ventilator Market By Application
10.5.2 Africa
10.5.2.1 Africa Energy Recovery Ventilator Market by Country
10.5.2.2 Africa Energy Recovery Ventilator Market By Type
10.5.2.3 Africa Energy Recovery Ventilator Market By Application
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Energy Recovery Ventilator Market By Type
10.5.2.4.2 Nigeria Energy Recovery Ventilator Market By Application
10.5.2.5 South Africa
10.5.2.5.1 South Africa Energy Recovery Ventilator Market By Type
10.5.2.5.2 South Africa Energy Recovery Ventilator Market By Application
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Energy Recovery Ventilator Market By Type
10.5.2.6.2 Rest of Africa Energy Recovery Ventilator Market By Application
10.6 Latin America
10.6.1 Latin America Energy Recovery Ventilator Market by Country
10.6.2 Latin America Energy Recovery Ventilator Market By Type
10.6.3 Latin America Energy Recovery Ventilator Market By Application
10.6.4 Brazil
10.6.4.1 Brazil Energy Recovery Ventilator Market By Type
10.6.4.2 Brazil Africa Energy Recovery Ventilator Market By Application
10.6.5 Argentina
10.6.5.1 Argentina Energy Recovery Ventilator Market By Type
10.6.5.2 Argentina Energy Recovery Ventilator Market By Application
10.6.6 Colombia
10.6.6.1 Colombia Energy Recovery Ventilator Market By Type
10.6.6.2 Colombia Energy Recovery Ventilator Market By Application
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Energy Recovery Ventilator Market By Type
10.6.7.2 Rest of Latin America Energy Recovery Ventilator Market By Application
11. Company Profile
11.1 Carrier (United Technologies)
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Johnson Controls
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Daikin Industries, Ltd.
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Mitsubishi Electric Corporation
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Trane
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 LG Electronics
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Nortek Air Solutions
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Lennox International Inc
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Greenheck
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Fujitsu Limited
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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