The global energy recovery ventilator core market size was valued at around USD 1.01 Billion in 2022 and is anticipated to reach USD 1.95 Billion by 2031, expanding at a CAGR of around 7.5% during the forecast period, 2023 – 2031. The growth of the market is attributed to the increasing demand for energy recovery ventilator cores and rising awareness regarding good indoor air quality.
An energy recovery ventilator refers to a device, which is a part of a central ventilation system, that provides fresh air indoors by removing polluted indoor air and balancing the humidity in the room. The system captures pollen, pollutants, and other hazardous materials. It facilitates the pleasant and clean air to circulate in the room. The core of the energy recovery ventilator is where the transfer of cool and hot air takes place.
The COVID-19 pandemic situation affected moderately to the global energy recovery ventilator core market. Several residential construction activities were halted during the pandemic. The lockdown and travel restrictions forced companies to allow their employees to work from home. This resulted in the decline of HVACs and energy recovery ventilators. The disrupted supply chain created problems for energy recovery ventilator core providers. Conversely, the demand for these ventilators increased in the healthcare industry, as medical facilities required clean and fresh air during the pandemic situation.
Energy Recovery Ventilator Core Market Trends, Drivers, Restraints, and Opportunities
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Rising global temperature fuels the global energy recovery ventilator core market.
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Increasing awareness regarding the quality of indoor air is expected to drive the market during the forecast period.
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Growing residential and commercial construction activities in countries such as India, China, and Australia are estimated to boost the market during the forecast period.
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Discomfort caused by noises from energy recovery ventilators is anticipated to hamper the growth of the market in the coming years.
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Dry air passed from the ventilators in cold climates and its negative effects on health hinder the growth of the market.
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Threat of energy recovery ventilator core to be frozen in sub-zero temperature restrains the growth of the market.
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Increasing demand for energy recovery ventilator core to decrease the load of the HVAC system in infrastructure developments offers growth opportunities to the market players.
Scope of Energy Recovery Ventilator Core Market Report
The report on the global energy recovery ventilator core market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Energy Recovery Ventilator Core Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Material Types (Fibrous Paper, Engineered Resin, and Others), Shapes (Diamond, Square, Wheel, and Hexagon), and Flow Types (Crossflow and Counter-flow)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Core, Inc.; Ruskin; Beijing Holtop Air Conditioning Co., Ltd.; Greenheck Fan Corporation; Oji Container Co., Ltd.; Innergy Tech, Inc.; Hoval; Xiamen AIR-ERV Technology Co., Ltd.; Klingenburg USA, LLC; Dais Corporation; Karyer Group; Teasung Co., Ltd.; Recuperator S.p.A.; Teasung Co., Ltd.; ERI Corporation; RenewAire LLC; and Others
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Energy Recovery Ventilator Core Market Segment Insights
Engineered resin segment dominates the market
Based on material types, the market is divided into fibrous paper, engineered resin, and others. The engineered resin segment is expected to hold a key market share during the forecast period, as engineered resin prohibits air from the energy recovery ventilator core to the other side to avoid cross-contamination. The engineered resin is made from a water vapor-permeable membrane, which allows water vapor to pass through the core more than other gasses. This factor aids in the expansion of the segment.
Hexagon segment holds a significant market share
In terms of shapes, the market is segregated into diamond, square, wheel, and hexagon. The hexagon segment is estimated to register a high CAGR during the forecast period, as the hexagon-shaped energy recovery ventilator cores are more efficient in energy recovery than the other shapes. In hexagon-shaped energy recovery ventilator cores, exhaust airflow and inlet airflow pass in opposite directions, which makes them energy-efficient. This factor aids in the expansion of the segment.
Counter-flow segment holds a key market share
On the basis of flow types, the market is bifurcated into crossflow and counter-flow. The counter-flow segment is estimated to expand rapidly during the forecast period, as cross-flow facilitates efficient heat transfer between the exhaust air and inlet air. These cores create opposing air flows between fresh air and exhaust air by routing them through different channels in the core. This makes the energy recovery ventilator core with a counter-flow layout show more energy efficiency than the crossflow layout.
North America dominates the market
Based on regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is projected to register a significant CAGR during the forecast period, as the majority of commercial and residential buildings in the region consume a large part of the energy for cooling and heating purposes. The increasing demand for devices or equipment, which can heal and humidify the air in the region drives the market. The growing opportunities for green construction and the increasing presence of various energy recovery ventilator manufacturers in the region are expected to boost the market in North America in the coming years.
Segments
The global energy recovery ventilator core market has been segmented on the basis of
Material Types
- Fibrous Paper
- Engineered Resin
- Others
Shapes
- Diamond
- Square
- Wheel
- Hexagon
Flow Types
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Core, Inc.
- Ruskin
- Beijing Holtop Air Conditioning Co., Ltd.
- Greenheck Fan Corporation
- Oji Container Co., Ltd.
- Innergy Tech, Inc.
- Hoval
- Xiamen AIR-ERV Technology Co., Ltd.
- Klingenburg USA, LLC
- Dais Corporation
- Karyer Group
- Teasung Co., Ltd.
- Recuperator S.p.A.
- Teasung Co., Ltd.
- ERI Corporation
- RenewAire LLC
- Others
Competitive Landscape
The global energy recovery ventilator core market is competitive with the presence of key players such as Core, Inc.; Ruskin; Beijing Holtop Air Conditioning Co., Ltd.; Greenheck Fan Corporation; Oji Container Co., Ltd.; Innergy Tech, Inc.; Hoval; Xiamen AIR-ERV Technology Co., Ltd.; Klingenburg USA, LLC; Dais Corporation; Karyer Group; Teasung Co., Ltd.; Recuperator S.p.A.; Teasung Co., Ltd.; ERI Corporation; RenewAire LLC; and others. For example, in March 2022, Greenheck Fan Corporation launched new energy recovery ventilators and ventilator cores for multi-family residential buildings, which have Home Ventilating Institute certified airflow. In March 2021, Innergy Tech, Inc. launched i4, an energy recovery wheel, which has a patented sealing technology used for new air handling units and fitted into existing systems.
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