Energy Recovery Ventilator Market on the Rise, Forecasted to Reach USD 10.73 Billion by 2032

Energy Recovery Ventilator market faces challenges like high costs and integration issues but offers significant energy savings and improved indoor air quality.

AUSTIN, TX, UNITED STATES, February 17, 2025 /EINPresswire.com/ -- The SNS Insider report indicates that the Energy Recovery Ventilator Market size was estimated at USD 4.44 Billion in 2023 and is expected to reach USD 10.73 Billion by 2032 at a CAGR of 10.30% during the forecast period of 2024-2032.

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Key Players:

• Carrier (United Technologies) – Carrier Energy Recovery Ventilators (ERVs)
• Johnson Controls – YORK Energy Recovery Ventilators
• Daikin Industries, Ltd. – Daikin Heat Recovery Ventilators (HRV)
• Mitsubishi Electric Corporation – Lossnay Energy Recovery Ventilator
• Trane – Trane ERV Systems (Thermal and Energy Recovery Ventilators)
• LG Electronics – LG ERV (Energy Recovery Ventilation Systems)
• Nortek Air Solutions, LLC – Nortek ERV Units (Venmar and Broan brands)
• Lennox International Inc. – Lennox HRV/ERV Systems
• Greenheck – Greenheck Energy Recovery Ventilators
• Fujitsu Limited – Fujitsu Energy Recovery Ventilators
• Zehnder Group – Zehnder ComfoAir Energy Recovery Ventilators
• Vent-Axia – Vent-Axia HRV (Heat Recovery Ventilators)
• Renewaire – Renewaire ERVs and HRVs
• Broan-NuTone LLC – Broan ERVs and HRVs
• Airxchange, Inc. – Airxchange Energy Recovery Ventilators
• Panasonic Corporation – Panasonic ERV (Energy Recovery Ventilation Systems)
• Swegon – Swegon Gold and Gold RX ERVs
• Koch Industries, Inc. – Koch Energy Recovery Ventilators
• Daikin Applied – Daikin Applied ERV and HRV Systems
• Robur S.p.A. – Robur Energy Recovery Systems

Dominance of Ceiling-Mount and Commercial Applications in the Energy Recovery Ventilator Market in 2023

By Type: 

The ceiling-mount segment of the Energy Recovery Ventilator (ERV) market dominated with over 42% of the market share in 2023. This type is preferred now because it is easier to install and economical. Ceiling-mounted ERVs utilize existing ducting and wiring systems, thus bringing down installation costs, and minimizing disruption that is generally associated with wall-mounted units. The less invasive installation of the system has increased the demand for better shifts in commercial and residential buildings. Ceiling-mounted ERVs can be more easily integrated into the building design, making them ideal for environments where there might be limited wall space or design considerations.

By Application: 

In 2023, the Commercial segment led the Energy Recovery Ventilator (ERV) market, capturing over 52% of the market share. This dominance is attributable to the surging need for energy-efficient solutions in commercial buildings and spaces. Office buildings, schools, hospitals, and retail establishments are choosing energy conservation and indoor air quality as high priorities. They are used to recover energy from exhausted air (extracted air) and transfer it to incoming fresh air, establishing a balance between energy efficiency and ventilation. This helps minimize heating and cooling costs, making it an attractive prospect for businesses looking to reduce operational costs while following sustainability standards.

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North America Leads ERV Market in 2023, While Asia Pacific Set for Rapid Growth

North America region dominated the market share over 48% in 2023, due to the strong focus on energy efficiency and the improvement of indoor air quality in residential and commercial buildings in the region. As cities in the U.S. and Canada endure heavy snowfalls, rain, hail, and hurricanes, we see an increased demand for good ventilation solutions. Extreme climatic conditions have dire effects on indoor air quality, eventually impacting the comfort and health of the dwellers. The need for ERVs is driven by growing regulations and green building programs that have guided the way to lower energy use.

Asia Pacific region is expected to experience the highest growth rate in the Energy Recovery Ventilator (ERV) market over the forecast period. This increase is fueled by increasing levels of wealth in vital emerging influential jurisdictions like China, India, South Korea, Malaysia, and Thailand. With the rapid urbanization and modernization of these countries, great emphasis is being given to the improvement of residential and commercial building infrastructure. While construction is trending towards energy efficiency, making it a priority within the sector, you will find an increasing number of systems such as ERVs that meet both energy-saving and air quality needs.

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