Recovery Ventilators Market Size, Share & Growth Report 2030

Report Description

Recovery Ventilators Market Market Outlook:

The global recovery ventilators market was valued at USD 8,151.30 million in 2020 and is projected to reach USD 15,614.37 million by 2028, expanding at a CAGR of 9.1% during the forecast period. Heat recovery ventilators (HRVs), energy recovery ventilators (ERVs), and enthalpy recovery ventilators (ERVs) are ventilation systems that transfer heat or coolness from stale exhaust air to new intake air, and enthalpy exchanger recovers a part of the humidity from the extract air to the supply air, helping to maintain the moisture balance.

This balanced ventilation solution improves comfort while conserving energy by removing excess smells, moisture, and pollutants. The heat recovery ventilation system throughout the entire house works continually to extract stale, moist air from wet rooms such as bathrooms, kitchens, and utility rooms, and feeds filtered fresh air to habitable rooms such as dining rooms, living rooms, and bedrooms.

Get Free Sample Report

Macro-economic Factors

Construction Industry

Increasing construction projects of residential and commercial buildings is fueling the demand for recovery ventilators across the globe. Growing urbanization and construction activities in countries such as India, Vietnam, and Indonesia are expected to increase the demand ventilation system such as recovery ventilators in Asia Pacific. Additionally, increasing construction of skyscrapers in the Middle East is expected to drive the market growth globally.

Scope of Recovery Ventilators Market  Report

Market Dynamics

Market Driver- Increasing awareness about indoor environmental quality

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.

Market Driver- Rising demand in the construction segment

Increased construction activities across the globe, due to the increasing population and rising number of green building projects, is projected to increase the demand for recovery ventilators during the forecast period. Few of the major factors fueling the market for the commercial segment are the surging demand for ventilation systems from new corporate building constructions, growing commercial kitchen sector, and rising construction of commercial green buildings. Rapidly growing construction activities in Asia Pacific is anticipated to fuel the demand for recovery ventilators.

Market Restraint- High maintenance and installation costs

Installation and maintenance costs of heat recovery and energy recovery ventilator are high. This is expected to be restraint for the market during the forecast period. The initial costs of installation of the ventilator is high due to the complex requirements. The maintenance costs for the ventilators is high as the filters of the ventilator need to be changed every 3 months or may affect the efficiency of the ventilators, this sufficiently increases the maintenance costs of the ventilators.

Market Opportunity- Favorable Impact of Codes and Standards on Recovery Ventilators Market

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 at least 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

On the basis of functionality, the market is segmented into energy recovery, heat recovery, enthalpy recovery (humidity recovery) ventilators, and hybrid/multi-functional recovery ventilators. The heat recovery ventilators (HRV) segment held a significant share of the market, due to advancements in technologies, such as improvements in heat recovery technology.

Rising urbanization is fueling the demand for energy recovery ventilators. Implementation and formulation of various government regulations regarding the use of energy recovery ventilators to furnish the existing buildings is projected to drive the demand for energy recovery ventilators during the forecast period.

Get Free Sample Report

On the basis of technologies, the market is categorized as heat pipe heat exchanger, rotary heat exchanger, plate heat exchanger, and others. The rotary heat exchanger segment is expected to hold a substantial share of the market during the forecast period, as heat and humidity can be transported with rotary heat exchangers. Rotary heat exchangers transfer heat and humidity use a rotating storage mass that alternates between the exhaust air and supply air flows.

On the basis of application areas, the market is categorized as ceiling-mounted, cabinet, wall-mounted, and others. The ceiling-mounted segment is expected to hold a significant share of the market during the forecast period, as it perfectly caters to the need for comfort and energy-saving. The wall-mounted segment is expected to hold a substantial share of the market during the forecast period, as wall mount energy recovery ventilators (ERVs) bring fresh filtered air from outside into the building.

Get Free Sample Report

Recovery Ventilators Market Regional Outlook

Based on regions, the global recovery ventilators market is fragmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa. Europe is expected to hold a significant share of the market during the forecast period due to rising awareness about the necessity of healthy indoor air. Increasing government initiatives to promote sustainable products that are energy-efficient and environment-friendly are expected to fuel the demand for ventilators in Europe.

Get Free Sample Report

Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global 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