Global Energy Recovery Ventilator (ERV) Market: Overview
Energy recovery ventilators have marked a significant demand after the spread of COVID-19. People have become more aware about the ventilation systems. Poor ventilation can lead to shortness of breath, tiredness and severe headaches. To prevent the build-up of Co2 and depletion of oxygen, the Energy Recovery Ventilator is used. Residential and commercial buildings require excellent ventilation. The rising demand for fresh air and correct ventilation has brought a growth in the ERV market.
The pollutants like virus and chemicals accumulate at one place cause harm to human health. However, the manufacturers are adopting new innovations for constant development in the technology.The prime focus is on improving the indoor air quality and help end-users to ensure uniform circulation of fresh air in closed premises. The Energy-recovered ventilation system is a cost-effective solution. For instance, it saves energy for the treatment or precondition of ventilation air entering HVAC systems.
The key player like Abb Ltd. Is working constantly to develop environmentally friendly technology. To serve the purpose of transforming stale air from the storage rooms and cool the interior air. while recovering energy and pre-cooling incoming air. Manufacturers of ERV like Nortek Air Solutions are taking bold steps, to amplify the scientific approach for the HVAC challenges in buildings. They are focusing on specific requirements for the energy efficiency and high performance while increasing reliability.
Energy Recovery Ventilators are widely used in high occupant density places like big auditoriums, churches, schools, fitness centres. The manufacturers are finding scopes in the renovation and restructuring of such buildings. Energy Recovery Ventilator lowers maintenance cost and increase product life in industries. Designing of energy efficient buildings has a wide usage of Energy Recovery Ventilator to support comfort conditions. This system ensures maximum energy savings and is used to supply fresh air. The adoption of Energy Recovery Ventilator is directly linked with the construction of energy efficient buildings.
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Global Energy Recovery Ventilator (ERV) Market: Dynamics
The demand for energy recovery ventilator has continued to amplify substantially throughout the years. Rising urbanization is partially responsible for sustaining the growing demand for energy recovery ventilator. Implementation and formulation of various government regulations regarding the use of energy recovery ventilators to furnish the existing buildings and, incorporation of green buildings leading to an increasing investment in construction sector are some factors, which are anticipated to drive the demand for energy recovery ventilator throughout the forecast period.
LEED certification by builders has also envisaged the use of energy ventilators in commercial and residential building establishments. The demand for energy recovery ventilator is directly linked with the economic development of economies and rapid industrialization. Advancements in technologies, such as improvements in heat recovery technology, are vibrant factors expected to drive the global energy recovery ventilator market.
The various end users of energy recovery ventilators are industrial, residential, commercial, etc. As these end-users seek energy saving solutions at economical prices, the energy recovery ventilators become a dynamic part of their end-use industries.
The energy recovery ventilator industry is anticipated to be highly competitive and is subjected to face business risks owing to factors such as geographic presence, the technology used, the product’s performance, the price of the products and the customer service. However, growing renovation and repair activities in the residential sector is one of the factors creating opportunities for energy recovery ventilator.
Similarly, the growing importance directed at safeguarding renewable and energy efficient sources along with government initiatives in developing support for energy recovery ventilator across municipalities is expected to boost the growth of the energy recovery ventilator market during the forecast period, globally.
The trend in the energy recovery ventilator market is the innovation and sustainability of the products. Industrial buyers primarily focus on factors such as maintenance cost of equipment, the lifespan of products, the operational and energy optimization of the equipment.
There are investments in new production technologies and new distribution channels taken up by the industries. The energy recovery ventilator market is expected to influence continuous product developments in regard to exponential industrialization and the rising investments on research and development of energy efficient solutions, which eventually leads to significant growth of energy recovery ventilatorsBuying
Global Energy Recovery Ventilator (ERV) Market: Region-wise Outlook
The rapidly growing construction activity in the Asia Pacific region is anticipated to foster the demand for energy recovery ventilator. Renovation and repair activities being undertaken in North America along with increasing construction spending in the Middle Eastern region is expected to drive the demand for energy recovery ventilator in the region.
Europe is expected to witness a high demand for energy efficient and certified products. As Europe witnesses frequently cold weather throughout the year, the sales of energy recovery ventilator may boost during the forecast period. Several stringent regulations in regards to the increased use of renewable energy sources in Europe are projected to boost the installation of energy recovery ventilator.
Global Energy Recovery Ventilator (ERV) Market: Market Participants
Examples of some of the market participants identified across the value chain of the global energy recovery ventilator market are
- ABB Ltd
- Nortek Air Solutions
- FUJITSU General
- Greenheck Fan
- General Electric Company
- LG Electronics
- Panasonic Corporation
- Mitsubishi Electric Corporation
- Johnson Controls
- Carrier Corporation
Global Energy Recovery Ventilator (ERV) Market: Segmentation
On the basis of type, the global energy recovery ventilator (ERV) market can be segmented into:
- Run around coil
- Heat pipe
- Rotary enthalpy wheel
- Fixed plate
- Twin tower
On the basis of application, the global energy recovery ventilator (ERV) market can be segmented into:
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