According to our latest study on "Energy Recovery Ventilator Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by technology type, mounting type, end user," the energy recovery ventilator market size was valued at US$ 4,388.12 million in 2024 and is expected to reach US$ 8,128.52 million by 2031; it is estimated to record a CAGR of 8.14% from 2024 to 2031.

The energy recovery ventilator market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. North America dominated the market in 2024, followed by Europe and APAC, respectively. The North America energy recovery ventilator market is segmented into the US, Canada, and Mexico. The market growth in North America can be attributed to a mature and robust demand for energy recovery ventilator from energy and utilities, manufacturing, residential, and commercial & industrial applications. The market is primarily dominated by the US, which accounts for a significant share of both production and consumption in the region. In addition, In North America, the well-established infrastructure in developed countries, including the US and Canada, helps manufacturing firms explore the limits of science, technology, and commerce to improve their production. In addition, increasing government regulations and standards associated with HVAC industry is anticipated to drive the energy recovery ventilator market growth from 2024 to 2031. Codes and standards fuel the adoption of energy recovery ventilators in residential, commercial, and industrial applications. Atlanta-based American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE's) Standard 62.1, "Ventilation for Acceptable Indoor Air Quality," is a major pillar of the International Mechanical Code from the U.S. Green Building Council's LEED rating system and the International Code Council as well as several local ventilation codes. This standard defines the amount of air ventilation required in a building. Further, ASHRAE's Standard 90.1 recommends the usage of energy recovery ventilation systems with a minimum 50% recovery effectiveness for the individual fan systems designed and developed with fan capacities of 5,000 cfm or more and an outdoor air supply of a minimum of 70%.

The federal government mandates the usage of energy recovery ventilators in federal buildings and recommends that small businesses and schools consider the usage of energy recovery ventilators. Furthermore, The Energy Performance of Buildings Directive (EPBD) in Europe - EU/2010/31 aims to increase the pace of building renovations or upgradation in Europe and contributes to improving air quality. The commission has produced a series of standards and accompanying technical reports in supporting the Directive. The EN 16798 series of standards explains the directive application to ventilation aspects. Given the regulation differences between countries, the directive allowed governments to adapt renovation measures to the national context. Thus, government regulations and standards fuel the demand for energy recovery ventilators.

Key Findings of Energy recovery ventilator market Study:

The energy recovery ventilator market is segmented on the basis of technology type, mounting type, and end user. On the basis of technology type, the market is divided into plate heat exchangers, heat pipe heat exchangers, rotary heat exchangers, run-around coil, and others. Based on mounting type, the energy recovery ventilator market is bifurcated into wall mount and ceiling mount. In terms of end user, the energy recovery ventilator market is segmented into residential, commercial, and industrial.

Based on mounting type, the global energy recovery ventilator market is bifurcated into wall mount and ceiling mount. Wall mount energy recovery ventilator registered a higher market share in the energy recovery ventilator market in 2024 and is expected to drive the market growth from 2024 to 2031. An energy recovery ventilation system is a smart way to improve the home air quality while saving energy. It works by exchanging stale indoor air with fresh outdoor air while absorbing energy from the exhaust air for heating or cooling the incoming air. The system has several advantages, such as reducing energy costs and improving comfort. The slim design saves more space for a ceiling-mounted energy recovery ventilator. The residential, commercial, and industrial customers are the key contributors to the energy recovery ventilator market growth across the globe as these customers are responsible for significant energy consumption, which results in high operating costs and environmental impact.

By minimizing energy consumption, industrial facilities can reduce their carbon dioxide footprint and mitigate the negative effects of greenhouse gas or carbon dioxide emissions. This is crucial in an environmentally conscious society, where consumers and stakeholders expect companies to proactively reduce their environmental impact. Thus, the increasing government regulations toward minimizing carbon emissions and efforts from organizations or companies toward adopting sustainable solutions in various operations accelerate market growth.

Daikin Industries Ltd; Greenheck Fan Corp; Munters Group AB; Nortek Air Solutions, LLC; Fujitsu General Ltd.; LG Electronics Inc.; Johnson Controls International Plc; Carrier Global Corp; and Panasonic Holdings Corp are among the key players offering energy recovery ventilation systems or solutions. Research and development activities for new product development and strategic alliances with other companies through mergers and acquisitions, partnership, business expansion, and collaboration are a few of the key business strategies of companies operating in the energy recovery ventilator market. Several other major players were studied and analyzed during the energy recovery ventilator market analysis to get a holistic view of the market and its ecosystem. The energy recovery ventilator market report also provides detailed market insights, which help the key players strategize their growth. The report includes growth prospects owing to the current energy recovery ventilator market trends and their foreseeable impact during the forecast period.

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