November 15, 2019
According to the research report titled ‘Global Energy Recovery Ventilator (ERV) Market: Analysis By Product Type, By Capacity (CFM) Output, By Installation Type, By End Use Application, By Region, By Country (2018 Edition): Opportunities and Forecast (2013-2023)’ available with Market Study Report LLC, the global energy recovery ventilator (ERV) market is expected to grow with a CAGR of 11.34% during the period of 2018-2023.
For the record, energy recovery ventilator (ERV) device works on the principle heat exchange between the contained energy in buildings and utilizing it to precondition the incoming outdoor air in building’s HVAC system. The ERV benefits include the ability to meet ASHRAE standards, improve the air quality indoors and reduce the HVAC equipment’s total capacity.
Rising number of green buildings, coupled with growing awareness regarding sustainable development are driving the growth of ERV market. The market is projected to expand over the forecast period due to rise in per capita income and expenditure of consumers, in tandem with favorable government reforms in various economies to reduce tax on green facilities. Growing focus on constructing environment friendly buildings as per ASHRAE and LEEDS standards, along with surging concerns regarding indoor air quality are augmenting the ERV market.
On the basis of product type, energy recovery ventilator market is categorized as plate heat exchanger, rotary heat exchanger, heat pipe heat exchanger, and run-around coil. As per output generated, the market is split into more than 3600 CFM, 1500-3600 CFM, 600-1200 CFM, 410-595 CFM, and 120-360 CFM.
Based on application spectrum, ERV market is classified into commercial buildings and residential buildings. Commercial buildings include supermarkets, hotels & restaurants, offices, healthcare facilities and others. In terms of installation type, the market is divided into rooftop, and wall & ceiling mounting.
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Considering geographical locations, the global ERV market is fragmented into five major regions, namely Latin America, North America, APAC, Middle East & Africa, and Europe, with key focus on countries like Canada, US, Brazil, Mexico, Germany, Argentina, Russia, France, Spain, Italy, UK, China, Turkey, India, Japan, Australia, Indonesia, South Korea, Malaysia, Saudi Arabia, Singapore, Egypt, UAE, Nigeria, and South Africa.
Main players operating in ERV market include Daikin, Mitsubishi Electric Corp., Panasonic Corp., Johnson Controls, LG Electronics, Fujitsu General, Munters, Nortek Air Solutions, Carrier Corp. and Greenheck Fan.
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