Energy Recovery Ventilator Market Size, Sales, Growth Drivers, Opportunities, Industry Outlook by 2024
The global energy recovery ventilator market is growing due to increasing demand for energy recovery ventilators from end use industry segments of commercial and residential sectors. Ventilation is an important part in the HVAC systems. Incorrect ventilation system attracts pollutants such as virus, chemicals, ducts, and allows molds to grow rapidly.
The global energy recovery ventilator market has been segmented by technology, application and region. Based on technology, the market has been segmented into run around coil, heat pipe heat exchanger, plate heat exchanger and rotary heat exchanger. On the basis of application, the market has been segmented into commercial and residential.
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The rising demand for fresh air and the need to reduce pollutants are the driving factors for the global energy recovery ventilator market growth. Additionally, increasing demand for energy housing projects and increase in construction activities is expected to drive the growth of the global energy recover ventilator market, during the forecast period (2016 – 2022).
The global energy recovery ventilator market is hindered by lack of awareness among the potential end users regarding the benefits of energy recovery ventilator systems, such as energy efficiency and environment-friendly features. With constant developments in technology, it is important to create awareness about the benefits of energy recovery ventilator systems among the end users.
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The key players operating in the global energy recovery ventilator market are Mitsubishi Electric Corporation, Nortek Air Solutions, LLC, Munters Corporation, Greenheck, Renewaire LLC, Reznor and Zehnder America Inc. Ruskin rooftop system and Innovative Drive Solutions, LLC.
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