Recovery Ventilators Market Outlook
The Europe Recovery Ventilators Market was valued at USD 2,725.3 Mn in 2020, and is projected to reach USD 4,701.9 Mn by 2028, expanding at a CAGR of 7.6% during the forecast period. The recovery ventilators market consists of heat recovery, energy recovery, and enthalpy recovery (humidity recovery) ventilators. Heat Recovery Ventilators (HRV) use the heat from the air leaving the building to heat the air that enters the building in the winters.
Additionally, these ventilators are used to cool the air in the summers. Energy Recovery Ventilators (ERV) replace both heat and humidity from the air, thus maintaining both heat and humidity in the building. In a recovery ventilation system, an enthalpy exchanger is utilized to reduce the risk of low indoor humidity levels in the winter. Enthalpy recovery ventilation (ERV) recovers energy in terms of both temperature and moisture, whereas heat recovery ventilation (HRV) recovers energy in terms of temperature.
Recovery Ventilators Market Dynamics
There is an increased awareness among individuals related to indoor environmental quality that is expected to drive the growth of the market. The pollution in the developing and developed countries is expected to fuel the demand for the ventilators.
Heat recovery ventilators (HRVs) and energy recovery ventilators (ERVs) are in high demand because they improve indoor air quality, lower heating costs, sustain current heat, and improve the moisture content of indoor air. Fans are used in these mechanical systems to ensure a balanced airflow around the house while also expelling stale indoor air. In residential settings, the need for HRV/ERV is increasing. HRVs/ERVs ventilate and warm homes in the winter, lowering the need for air conditioning in the summer.
During the forecast period, the demand for recovery ventilators is likely to increase in Europe, as governments across the region implement energy policies that encourage the use of alternative and clean-energy solutions. The process of reaching the UN's Sustainable Development Goals, which were established in September 2015, allows countries in the region to reduce their reliance on fossil fuels and focus on renewable energy production by 2030. As a result, the market in the region grows.
The indoor climate in residential buildings is affected by the people that live in the house and their activities. One of the purposes of a ventilation system is to keep the house from becoming too humid by eliminating some of the moisture. In the winter, the moisture balance is affected, resulting in low humidity in the house. In a recovery ventilation system, an enthalpy exchanger is utilized to reduce the risk of low indoor humidity levels in the winter. Enthalpy recovery ventilation (ERV) recovers energy in terms of both temperature and moisture, whereas heat recovery ventilation (HRV) recovers energy in terms of temperature. Positive impact of enthalpy recovery ventilation on the residential sector is expected to increase the demand for recovery ventilators.
Energy recovery ventilator systems are difficult to install. Some of the reasons expected to hamper the expansion of the recovery ventilators market include lack of sufficient information among technicians for the installation of ERV systems, and scarcity of skilled technicians for such installation activities. Energy recovery ventilation systems provide controlled ventilation while minimizing energy loss. Lack of awareness in the engineering community about correct ERV implementation, poor performance, unsatisfied customers, health and safety issues, and the potential of lawsuits hinders the market growth. Additionally, lack of awareness about indoor air quality and its negative consequences on health of people, and high maintenance costs are hampering the market growth.
Growing usage of energy recovery ventilation technology is attributed to the favorable impact of codes and standards. For instance, The International Code Council, as well as numerous local ventilation codes, use the Green Building Council's LEED grading system. This standard specifies the amount of air ventilation that should be provided in a structure. ASHRAE Standard 90.1 requires the use of energy recovery ventilation systems with atleast 50 percent recovery efficacy for individual fan systems with fan capacity of 5,000 cfm or more and a minimum 70 percent external air supply. The establishment of regulatory authorities is expected to increase the usage of energy recovery ventilators in buildings, which acts as a lucrative opportunity for the players in the market.
Recovery Ventilators Market Segmental Outlook
Based on functionality, the market is segmented into heat recovery, energy recovery, and enthalpy recovery (humidity recovery) ventilators. The HRV segment accounted for a significant market share in 2020 and the ERV segment is anticipated to expand at a moderate CAGR during the forecast period. The HRV segment held a significant share of the market, due to industrial applications in the chemical, food and beverages, paper, and HVAC industries. Technological advancements in the segment are expected to drive the market. The enthalpy recovery (humidity recovery) ventilators segment is expected to grow at a rapid pace during the forecast period, as it helps to maintain moisture balance by recovering a portion of the humidity from the extract air and transferring it to the supply air. The effect of ERV is detected in airtight buildings with moisture sources (cooking, showering, plants).
Based on technologies, the market is categorized as plate heat exchanger, heat pipe heat exchanger, rotary heat exchanger, run-around coil, and others. The plate heat exchangers segment is expected to hold a significant share of the market during the forecast period, as they are widely used as an alternative to traditional tube & shell types. These exchangers were initially used in the food and dairy industry for milk pasteurization. Currently, they are preferred in recovery ventilators for residential applications. Twin-tower enthalpy recovery systems are designed for low-temperature applications and are not suitable for high-temperature applications. These systems work well in the summer, even when the outside air temperature is as high as 46°C. Winter supply air temperatures as low as –40°C are handled without freezing or icing problems since the sorbent solution is an effective antifreeze in all useful concentrations. Rising preference of plate heat exchangers is attributed to the increasing construction of residential buildings in Europe.
By Application Areas
Based on application areas, the market is categorized as wall-mounted, ceiling-mounted, cabinet, and others. The ceiling-mounted segment is expected to hold a significant share of the market during the forecast period, due to reduction of the existing wiring and ductwork over the walls, installation cost, and invasiveness. The wall-mounted segment is expected to hold a substantial share of the market during the forecast period, due to its feasibility of installation in buildings without mechanical ventilation systems. Limited and unitized wall-mounted recovery ventilators that vent directly outside the outer wall are preferred in buildings with small duct spaces and without mechanical systems. The cabinet segment is anticipated to grow at a rapid pace during the forecast period. This type of recovery ventilator is mainly integrated into the industrial sector with a life span of more than a decade.
In terms of end-users, the heat and energy recover ventilator market is classified into residential, commercial, and industrial. The commercial segment dominated the market and held a significant market share in 2020. The residential segment is estimated to register moderate growth during the forecast period. The commercial segment is projected to expand at a high CAGR, owing to factors such as increased construction activities undertaken by the government to promote urbanization and increased population, which is considered to fuel the demand for ventilation systems. Increasing industrialization, specifically the automobile sector, is a significant contributor to the growth of the market. The industrial segment is expected to grow at a rapid pace during the forecast period, due to ongoing product advancements as a result of exponential industrialization and increasing investments in research and development of energy efficient solutions, resulting in significant expansion of recovery ventilators.
Country Wise Outlook
The market in Europe is segmented into Germany, France, Italy, the UK, Spain, Russia, and Rest of Europe. The market in Europe is expected to hold a significant share during the forecast period. The growth of the market is attributed to rising awareness about the necessity of healthy indoor air. Several changes in legislations and rapid construction of residential buildings in the region fuels the market. According to the legislations, it is mandatory to maintain building standards across Europe, thereby emphasizing on minimizing energy consumption. Moreover, rising energy prices made consumers amenable towards the use of alternate energy sources. Increasing industrialization is expected to fuel the demand for ventilators in the region, due to the ability of these ventilators to maintain humidity and air quality in buildings.
Key Benefits for Industry Participants & Stakeholders
- In-Depth Analysis of the Recovery Ventilators Market.
- Historical, Current and Projected Market Size in Terms of Value.
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on From Recovery Ventilators Market Performance
- Heat Recovery
- Energy Recovery
- Enthalpy Recovery (Humidity Recovery) Ventilators
- Plate Heat Exchanger
- Heat Pipe Heat Exchanger
- Rotary Heat Exchanger
- Run-Around Coil
- Wall Mounted
- Ceiling Mounted
- Rest of Europe
Key Market Players Profiled in the Report
- CENTROTEC SE
- FUJITSU GENERAL
- SALDA UAB
- LG Electronics
- Panasonic Corporation
- Systemair AB
- ATREA s. r. o.
- Mitsubishi Electric Corporation
- Johnson Controls
- Zehndar group
- DAIKIN INDUSTRIES, Ltd
- Key players in the recovery ventilators market are CENTROTEC SE, DRI, FUJITSU GENERAL, Heatex, Klimor, Komfovent, Nortek, SALDA UAB, LG Electronics, Panasonic Corporation, Systemair AB, ATREA s. r. o., Munters, Mitsubishi Electric Corporation, Johnson Controls, Zehndar group, Carrier, and DAIKIN INDUSTRIES, Ltd.
- The players are adopting key strategies such as product development, geographical expansion, mergers and acquisition and many other strategies to cater the increasing demand for recovery ventilators.