The global Energy Recovery Ventilator market is projected to rise with a CAGR of 8% during 2018-2023.
The growing concerns for pollution and the rising cost of energy has affected the demand for energy recovery ventilators. The North American region will dominate the demand for energy recovery ventilators as there is a growing population in the region, and the subsequent rising construction. It will be closely followed by the Asian region, which consists of India and China that is also undergoing rising construction to accommodate the population.
What is an Energy Recovery Ventilator?
Energy Recovery Ventilators are units that recover energy from indoor supply air to outdoor supply air so that the owners of buildings, whether residential or commercial, can reduce costs. Energy Recovery Ventilators can be used in a variety of locations whether it is a classroom, restaurant or home. These systems have become a staple part of HVAC systems.
What are the applications of Energy Recovery Ventilator?
Energy Recovery Ventilator are of various types such as Rotary Heat Exchanger, Plate Heat Exchanger, Heat-Pipe Exchanger, runaround Coils, Thermosiphon, Twin towers and others. They are mostly used in Commercial Buildings, Residential Buildings, Public Infrastructure, Industrial Facilities, Healthcare Institutions, Educational Institutions and others.
Market Research and Market Trends:
- US Tariffs on steel and aluminum and steel will affect the production of all HVAC products. The prices of the products could rise as manufacturers sought to cover the increased cost of manufacturing, although the demand is not expected to be affected as these ventilators have numerous benefits.
- The EU has sought out to improve energy savings by 20% by 2020 and in order to do this, by imposing regulations on various industries. Consumers will also sought to reduce their energy consumption as a result, and help in combatting pollution.
- Energy Enforcement Regulations in 2009 and more such reforms are pushing manufacturers to develop more energy efficient devices, so that the rate of pollution can be subdued. More such regulations will keep manufacturers in check to deliver such devices and energy recovery ventilator manufacturers will be encouraged.
Who are the key players in the Energy Recovery Ventilator market?
The key players in the Energy Recovery Ventilator market are Johnson Controls, Mitsubishi Electric, Panasonic, Nortek Air Solutions, Carrier Corporation, Munters, Lennox Residential, LG, Daikin, Zehnder America, Fujitsu General, Greenheck and various other companies.
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