According to a recent market study published by Growth Market Reports, titled, “North America Residential Energy Recovery Ventilators (ERV) market by technology types, applications, air flow volumes, and countries: Size, Share, Trends and Opportunity Analysis, 2018-2028”, the market was valued at USD 108.8 million in 2020 and is expected to grow at a growth rate of around 10.3% by the year 2028. An energy recovery ventilator (ERV) is a centralized ventilation system, which delivers fresh air by balancing humidity within the room area and eliminating polluted indoor air.

It is sometimes referred to as ERV ventilation system or ERV air exchanger. It collects pollutants, pollen, and other potentially dangerous particles to guarantee that only fresh air reaches the available room area. An ERV is built in areas with high concentration of people. It helps to reduce utility costs and collect energy in the building. An energy recovery ventilator introduces fresh air into the building, decreases CO2 levels, and keeps people alert and healthy.

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The North America residential Energy Recovery Ventilators (ERV) market is moderately consolidated based on technology types, applications, air flow volumes, and countries.

In terms of technology types, the market is segmented into plate heat exchanger, heat pipe heat exchanger, rotary heat exchanger, run-around coil, and others. Based on the applications, the North America residential Energy Recovery Ventilators (ERV) market is segmented into new homes and retrofit projects. In terms of air flow volumes, the market is categorized as 0-100 cfm, 100-150 cfm, 150-200 cfm, 200-250 cfm, and 250-1500 cfm. Based on countries, the North America Residential Energy Recovery Ventilators (ERV) market is segmented into US and Canada.

The outbreak of COVID-19 has largely impacted the production and supply of the Residential Energy Recovery Ventilators (ERV). Insufficient supply of raw materials due to disturbed logistics has decreased the demand for Residential Energy Recovery Ventilators (ERV), thus slowing the growth of the market.

Conversely, the market is expected to recover at a significant pace in the future, owing to the increasing number of residential buildings across globe. The North America residential Energy Recovery Ventilators (ERV) market is expected to grow at a substantial pace, as the lockdowns are being lifted and productions in various industries have started, with necessary precautions.

As per GMR industry analysts Rajat Verma, “The North America Residential Energy Recovery Ventilators (ERV) market is anticipated to witness significant growth during forecast period 2021-2028 driven by factors such as the increasing construction of green buildings, rising awareness about indoor air quality (IAQ), and regulations.”

Key Takeaways from the Study

  • Top four market player includes Carrier, Broan-NuTone, LLC., Panasonic Corporation, and Zehnder Group AG.
  • The US accounts for a major share of the market, followed by Canada. The market in US is projected to expand at significant CAGR during the forecast period.
  • In terms of technology types, plate heat exchanger is anticipated to expand at a significant CAGR during the forecast period.
  • Various rules and regulations by the government to reduce energy consumption in buildings are projected to drive the demand for Residential Energy Recovery Ventilators (ERV) during the forecast period.

Report Scope

Report Metric

Details

Market Value in 2020

USD 108.8 Million

Market Growth Rate (from 2021 to 2028)

10.3%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 - 2028

Units Considered

Value (USD Million)

Market Segments

By technology types, By applications, By air flow volumes

Regional Scope

North America

Country Scope

U.S., Canada

Key Companies Profiled

ALDES Aéraulique, Broan-NuTone, LLC, Carrier, Lifebreath, Mitsubishi Electric Trane HVAC US LLC, Panasonic Corporation, Reversomatic Manufacturing Limited, S&P USA Ventilation Systems, LLC., UltimateAir, Inc., and Zehnder Group AG.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Residential Energy Recovery Ventilators (ERV) material manufacturers, raw material suppliers, primary respondents, and distributors.
  • Research; Development Facilities, Semiconductor & Electronics, Solar Devices, Medical Equipment, etc.
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies.
  • Associations and Industry Bodies: American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE), US Green Building Council, U.S. Green Building Council (USGBC), and Illuminating Engineering Society (IESNA).