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The energy recovery ventilator market size is projected to reach US$ 8,128.52 million by 2031 from US$ 4,698.86 million in 2024. The market is expected to register a CAGR of 8.1% during 2025–2031. The growing sustainability awareness across the globe is likely to bring new key trends in the market in the coming years.
Energy Recovery Ventilator Market Analysis
People in America spend ~90% of their time indoors, so finding the right ventilation strategy is critical to achieving a safe and healthy indoor environment. As buildings become more airtight, compact, and energy-efficient, they retain indoor air pollutants, leading to poor indoor air quality (IAQ). Typical pollutants include VOCs released from cooking, cleaning, upholstery, furniture, and painting, as well as moisture from showering, cooking, and breathing. Adverse effects of poor air quality or poor ventilation include health problems, the spread of airborne diseases, and low productivity. Thus, the rise in awareness toward maintaining good air quality in residential, commercial, and industrial areas is projected to propel the energy recovery ventilator market from 2025 to 2031.
The awareness for improving indoor air quality is rising, supported by government regulations and standards. Moreover, the demand for energy recovery ventilators is growing in corporate buildings, fueling the market growth. However, installation complexity and frequent maintenance requirements are expected to hinder the growth of the energy recovery ventilator market. Moreover, technological developments in energy recovery ventilators are projected to create opportunities for companies operating in the market in the coming years. Further, the role of energy recovery ventilators in achieving sustainability goals is expected to be the key future trend in the energy recovery ventilator market during 2025–2031.
Energy Recovery Ventilator Market Overview
Ventilation helps in reducing the transmission of airborne diseases in indoor spaces. An energy recovery ventilator (ERV) is a passive energy recovery device used to minimize the energy consumption of heating, ventilation, and air conditioning systems. It preconditions ventilation air by transferring energy from the building's exhaust air. Therefore, ventilation and exhaust air streams interact directly or indirectly in the ERV for energy transfer. Key end users of energy recovery ventilators contributing toward the market growth across the globe include residential & commercial buildings and industries such as energy & utilities, data centers, retail, hospitality, and industrial facilities (beyond manufacturing). There is increasing demand for efficient, customized HVAC systems for various industries, such as circuit board manufacturing, mining, food and beverage, pharmaceutical, and cleanroom systems. Several industrial and production buildings have high emissions levels. Production processes require frequent removal of excess heat or pollutants from indoor air using a local or general exhaust system. Therefore, manufacturing facilities are focusing on using energy recovery fans to meet ventilation and energy standards while improving indoor air quality and minimizing overall HVAC equipment capacity. In addition, the recovery in manufacturing value added at the global level entails significant capital investments.
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Energy Recovery Ventilator Market: Strategic Insights
Market Size Value in US$ 2.83 Billion in 2019 Market Size Value by US$ 5.06 Billion by 2027 Growth rate CAGR of 7.8% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Energy Recovery Ventilator Market: Strategic Insights
| Market Size Value in | US$ 2.83 Billion in 2019 |
| Market Size Value by | US$ 5.06 Billion by 2027 |
| Growth rate | CAGR of 7.8% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Energy Recovery Ventilator Market Drivers and Opportunities
Growing Focus on Improving Indoor Air Quality
Indoor air quality has a huge impact on their comfort and health, whether at home or the workplace. Insufficient ventilation can make a room stuffy and uncomfortable. Exposure to indoor pollutants such as radon, mold, pressed wood products (which may contain formaldehyde), secondhand smoke, and other materials can lead to health problems such as lung cancer and asthma. Poor indoor air quality (IAQ) negatively impacts the cognitive function, health, and well-being of indoor occupants. The Environmental Protection Agency (EPA) states that worker productivity in the workspace can be improved by 5–6% when air quality levels are rated good. Balanced and increased ventilation optimizes indoor air quality using an energy recovery ventilator.
Technological Developments in Energy Recovery Ventilator
As applications for energy recovery ventilators increase across different sectors, market players are significantly focusing on developing new products as well as upgrading their existing product lines to meet the needs of their customers. For instance, in February 2024, Panasonic Corporation launched the WhisperComfort 60 energy recovery ventilator. This new energy recovery ventilator is home ventilating institute (HVI) certified and will provide customers with better, energy efficient, and cost-effective house ventilation. In addition, Panasonic Corporation teamed up with ARISTA Homes (homebuilder in North America) to provide residential with WhisperAir RepairR spot purifiers or the Intelli-Balance energy recovery ventilator. Moreover, in July 2020, LG Electronics (LG) introduced an expanded line of Puricare air care solutions. The new solutions provide much-needed relief for poor indoor air environments produced by industrial pollution or local weather phenomena such as sandstorms and dust.
Energy Recovery Ventilator Market Report Segmentation Analysis
Key segments that contributed to the derivation of the energy recovery ventilator market analysis are technology type, mounting type, and end user.
- Based on technology type, the global energy recovery ventilator market is classified into plate heat exchangers, heat pipe heat exchangers, rotary heat exchangers, run-around coils, and others. The plate heat exchange segment dominated the energy recovery ventilator market share in 2024.
- Based on mounting type, the global energy recovery ventilator market is bifurcated into wall mount, ceiling mount, and cabinet. Wall mount energy recovery ventilators registered the largest market share in the energy recovery ventilator market in 2024.
- Based on end users, the energy recovery ventilator market is segmented into residential, commercial, and industrial. The commercial segment led the market in 2024.
Energy Recovery Ventilator Market Share Analysis
The geographic scope of the Energy Recovery Ventilator market report offers a detailed global analysis. North America, Europe, and Asia Pacific are major regions witnessing significant growth in the energy recovery ventilator market.
North America dominated the energy recovery ventilator market in 2024. Europe is the second-largest contributor to the global energy recovery ventilator market, followed by Asia Pacific. North America is witnessing tremendous growth in the market due to the presence of key players focused on the advancement and adoption of energy recovery ventilators in various industries and real estate sectors. In addition, the presence of the key/manufacturing economies, including the US, Canada, and Mexico, fuels the demand for energy recovery ventilators. The US is the second largest manufacturing powerhouse after China. It accounted for ~16% of the total manufacturing output in the world in 2023. In addition, Canada and Mexico are contributing toward the energy recovery ventilator market growth in North America, with the rise in investment for establishing manufacturing bases. Moreover, the strong focus on research and development, automation, and digitalization is fueling the demand for ventilation solutions in the US.
Europe holds a significant share in the energy recovery ventilator market. The region is known for its well-established manufacturing facilities, including automotive, aerospace, machinery, and construction. These industries rely heavily on energy in manufacturing operations thereby driving the need for ventilation systems for achieving high precision and efficiency in their operations and production. Germany is a major market within Europe, known for its technologically advanced engineering and manufacturing capabilities. Moreover, the residential and commercial real estate sector is growing rapidly in the region.
China dominates the energy recovery ventilator market in Asia Pacific. The presence of manufacturing industries such as automotive, aerospace, defense, and residential & commercial sector growth fuels the demand for energy recovery ventilators in the region. These industries require HVAC systems and chillers in manufacturing operations, which results in higher energy consumption and increased carbon dioxide emissions. Middle East Africa and South America also contributed to the energy recovery ventilator market growth owing to the rise in investment in industrialization, growing urbanization, investment in commercial projects, and an increase in manufacturing bases in the regions.
Energy Recovery Ventilator Market Report Scope
Energy Recovery Ventilator Market News and Recent Developments
The energy recovery ventilator market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Energy Recovery Ventilator market are listed below:
- Panasonic, a leading provider of ventilation and healthy indoor living solutions to the building industry, announced the launch of its BalancedHome Elite and Elite Plus Series of Energy Recovery Ventilators (ERV). The new BalancedHome series ERVs are versatile and efficient, giving builders the flexibility to choose between eight different models with four different CFM levels. (Source: Panasonic Corporation, Press Release, December 2024)
- Daikin Saudi Arabia (Daikin Industries Ltd) opened a new factory in Saudi Arabia. This factory is expected to manufacture air handling units and other applied air conditioning solutions. Through this expansion, the company strengthened its position in the energy recovery ventilator market in the Middle East and Africa. (Source: Daikin Industries Ltd, Press Release, November 2020)
Energy Recovery Ventilator Market Report Coverage and Deliverables
The "Energy Recovery Ventilator Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Energy Recovery Ventilator market size and forecast at country levels for all the key market segments covered under the scope
- Energy Recovery Ventilator market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Energy Recovery Ventilator market analysis covering key market trends, country framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Energy Recovery Ventilator market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology Type and End User and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The energy recovery ventilator market is expected to reach US$ 8,128.52 million by 2031.
North America is anticipated to have largest share in energy recovery ventilator market.
The key companies operating in the energy recovery ventilator market include 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; Mistubishi.
The energy recovery ventilator market was valued at US$ 4,698.86 million in 2024 and is projected to reach US$ 8,128.52 million by 2031; it is expected to register a CAGR of 8.1% during 2025–2031.
The plate heat exchanger segment led the energy recovery ventilator market with a significant share in 2024.
Role of Energy Recovery Ventilator in Achieving Sustainability Goals
Growing Focus on Improving Indoor Air Quality; Increasing Government Regulations and Standards; Rising Demand for Energy Recovery Ventilators in Corporate Buildings
The List of Companies - Energy Recovery Ventilator Market
- 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
- Panasonic Holdings Corp
- Mitsubishi Electric Corp.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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