Global Recovery Ventilators Market by Functionality (Heat Recovery, Energy Recovery, Enthalpy Recovery (Humidity Recovery) Ventilators, and Hybrid/Multi-functional), by Technology (Plate Heat Exchanger, Heat Pipe Heat Exchanger, Rotary Heat Exchanger, Run-Around Coil, and Others), by Application (Wall Mounted, Ceiling Mounted, Cabinet, and Others), by End User (Residential, Commercial, and Industrial), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
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.
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
Attributes |
Details |
Report Title |
Recovery Ventilators Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
By Functionality (Heat Recovery, Energy Recovery, Enthalpy Recovery (Humidity Recovery) Ventilators, and Hybrid/Multi-functional), By Technology (Plate Heat Exchanger, Heat Pipe Heat Exchanger, Rotary Heat Exchanger, Run-Around Coil, and Others), By Application (Wall Mounted, Ceiling Mounted, Cabinet, and Others), By End User (Residential, Commercial, and Industrial) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered |
ATREA s. r. o., Broan-NuTone, LLC., Carrier, CENTROTEC SE, Daikin Industries, DRI, FUJITSU GENERAL, Heatex, Honeywell International Inc., Johnson Controls, Klimor, Komfovent, Lennox International Inc., LG Electronics, Mitsubishi Electric Corporation, Munters, Nortek, Panasonic Corporation, SALDA UAB, Systemair AB, Zehnder Group, and others |
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.
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.
In terms of end-users, the recovery ventilators market is classified ad residential, commercial, and industrial. The integration of energy-efficient mechanical ventilators into the ductwork of residential or commercial buildings helps achieve proper ventilation. The commercial segment is projected to expand at a high CAGR, due to increasing demand for ventilation systems from new corporate building constructions, growing commercial kitchen sector, and rising construction of commercial green buildings. This, in turn, increases the demand for recovery ventilators in the commercial sectors across the world.
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.
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
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Recovery Ventilators Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Recovery Ventilators Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Recovery Ventilators Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Recovery Ventilators Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Recovery Ventilators Market Size & Forecast, 2018-2028
4.5.1 Recovery Ventilators Market Size and Y-o-Y Growth
4.5.2 Recovery Ventilators Market Absolute $ Opportunity
4.6 Pricing Analysis & Forecast, By Functionality, 2018-2028
4.7 Global Recovery Ventilators Market: Technological Advancement
4.8 Global Recovery Ventilators Market: Regulatory Landscape
Chapter 5 Global Recovery Ventilators Market Analysis and Forecast By Functionality
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Functionality
5.1.2 Basis Point Share (BPS) Analysis By Functionality
5.1.3 Absolute $ Opportunity Assessment By Functionality
5.2 Recovery Ventilators Market Size & Volume Forecast By Functionality
5.2.1 Heat Recovery
5.2.2 Energy Recovery
5.2.3 Enthalpy Recovery (Humidity Recovery) Ventilators
5.2.4 Hybrid Multi-functional
5.3 Market Attractiveness Analysis By Functionality
Chapter 6 Global Recovery Ventilators Market Analysis and Forecast By Technology
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Technology
6.1.2 Basis Point Share (BPS) Analysis By Technology
6.1.3 Absolute $ Opportunity Assessment By Technology
6.2 Recovery Ventilators Market Size & Volume Forecast By Technology
6.2.1 Plate Heat Exchanger
6.2.2 Heat Pipe Heat Exchanger
6.2.3 Rotary Heat Exchanger
6.2.4 Run-Around Coil
6.2.5 Others
6.3 Market Attractiveness Analysis By Technology
Chapter 7 Global Recovery Ventilators Market Analysis and Forecast By Application
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities By Application
7.1.2 Basis Point Share (BPS) Analysis By Application
7.1.3 Absolute $ Opportunity Assessment By Application
7.2 Recovery Ventilators Market Size & Volume Forecast By Application
7.2.1 Wall Mounted
7.2.2 Ceiling Mounted
7.2.3 Cabinet
7.2.4 Others
7.3 Market Attractiveness Analysis By Application
Chapter 8 Global Recovery Ventilators Market Analysis and Forecast By End User
8.1 Introduction
8.1.1 Key Market Trends & Growth Opportunities By End User
8.1.2 Basis Point Share (BPS) Analysis By End User
8.1.3 Absolute $ Opportunity Assessment By End User
8.2 Recovery Ventilators Market Size & Volume Forecast By End User
8.2.1 Residential
8.2.2 Commercial
8.2.3 Industrial
8.3 Market Attractiveness Analysis By End User
Chapter 9 Global Recovery Ventilators Market Analysis and Forecast by Region
9.1 Introduction
9.1.1 Key Market Trends & Growth Opportunities by Region
9.1.2 Basis Point Share (BPS) Analysis by Region
9.1.3 Absolute $ Opportunity Assessment by Region
9.2 Recovery Ventilators Market Size & Volume Forecast by Region
9.2.1 North America
9.2.2 Europe
9.2.3 Asia Pacific
9.2.4 Latin America
9.2.5 Middle East & Africa (MEA)
9.3 Market Attractiveness Analysis by Region
Chapter 10 Coronavirus Disease (COVID-19) Impact
10.1 Introduction
10.2 Current & Future Impact Analysis
10.3 Economic Impact Analysis
10.4 Government Policies
10.5 Investment Scenario
Chapter 11 North America Recovery Ventilators Analysis and Forecast
11.1 Introduction
11.2 North America Recovery Ventilators Market Size & Volume Forecast by Country
11.2.1 U.S.
11.2.2 Canada
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 North America Recovery Ventilators Market Size & Volume Forecast By Functionality
11.6.1 Heat Recovery
11.6.2 Energy Recovery
11.6.3 Enthalpy Recovery (Humidity Recovery) Ventilators
11.6.4 Hybrid Multi-functional
11.7 Basis Point Share (BPS) Analysis By Functionality
11.8 Absolute $ Opportunity Assessment By Functionality
11.9 Market Attractiveness Analysis By Functionality
11.10 North America Recovery Ventilators Market Size & Volume Forecast By Technology
11.10.1 Plate Heat Exchanger
11.10.2 Heat Pipe Heat Exchanger
11.10.3 Rotary Heat Exchanger
11.10.4 Run-Around Coil
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis By Technology
11.12 Absolute $ Opportunity Assessment By Technology
11.13 Market Attractiveness Analysis By Technology
11.14 North America Recovery Ventilators Market Size & Volume Forecast By Application
11.14.1 Wall Mounted
11.14.2 Ceiling Mounted
11.14.3 Cabinet
11.14.4 Others
11.15 Basis Point Share (BPS) Analysis By Application
11.16 Absolute $ Opportunity Assessment By Application
11.17 Market Attractiveness Analysis By Application
11.18 North America Recovery Ventilators Market Size & Volume Forecast By End User
11.18.1 Residential
11.18.2 Commercial
11.18.3 Industrial
11.19 Basis Point Share (BPS) Analysis By End User
11.20 Absolute $ Opportunity Assessment By End User
11.21 Market Attractiveness Analysis By End User
Chapter 12 Europe Recovery Ventilators Analysis and Forecast
12.1 Introduction
12.2 Europe Recovery Ventilators Market Size & Volume Forecast by Country
12.2.1 Germany
12.2.2 France
12.2.3 Italy
12.2.4 U.K.
12.2.5 Spain
12.2.6 Russia
12.2.7 Rest of Europe
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Europe Recovery Ventilators Market Size & Volume Forecast By Functionality
12.6.1 Heat Recovery
12.6.2 Energy Recovery
12.6.3 Enthalpy Recovery (Humidity Recovery) Ventilators
12.6.4 Hybrid Multi-functional
12.7 Basis Point Share (BPS) Analysis By Functionality
12.8 Absolute $ Opportunity Assessment By Functionality
12.9 Market Attractiveness Analysis By Functionality
12.10 Europe Recovery Ventilators Market Size & Volume Forecast By Technology
12.10.1 Plate Heat Exchanger
12.10.2 Heat Pipe Heat Exchanger
12.10.3 Rotary Heat Exchanger
12.10.4 Run-Around Coil
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis By Technology
12.12 Absolute $ Opportunity Assessment By Technology
12.13 Market Attractiveness Analysis By Technology
12.14 Europe Recovery Ventilators Market Size & Volume Forecast By Application
12.14.1 Wall Mounted
12.14.2 Ceiling Mounted
12.14.3 Cabinet
12.14.4 Others
12.15 Basis Point Share (BPS) Analysis By Application
12.16 Absolute $ Opportunity Assessment By Application
12.17 Market Attractiveness Analysis By Application
12.18 Europe Recovery Ventilators Market Size & Volume Forecast By End User
12.18.1 Residential
12.18.2 Commercial
12.18.3 Industrial
12.19 Basis Point Share (BPS) Analysis By End User
12.20 Absolute $ Opportunity Assessment By End User
12.21 Market Attractiveness Analysis By End User
Chapter 13 Asia Pacific Recovery Ventilators Analysis and Forecast
13.1 Introduction
13.2 Asia Pacific Recovery Ventilators Market Size & Volume Forecast by Country
13.2.1 China
13.2.2 Japan
13.2.3 South Korea
13.2.4 India
13.2.5 Australia
13.2.6 South East Asia (SEA)
13.2.7 Rest of Asia Pacific (APAC)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Asia Pacific Recovery Ventilators Market Size & Volume Forecast By Functionality
13.6.1 Heat Recovery
13.6.2 Energy Recovery
13.6.3 Enthalpy Recovery (Humidity Recovery) Ventilators
13.6.4 Hybrid Multi-functional
13.7 Basis Point Share (BPS) Analysis By Functionality
13.8 Absolute $ Opportunity Assessment By Functionality
13.9 Market Attractiveness Analysis By Functionality
13.10 Asia Pacific Recovery Ventilators Market Size & Volume Forecast By Technology
13.10.1 Plate Heat Exchanger
13.10.2 Heat Pipe Heat Exchanger
13.10.3 Rotary Heat Exchanger
13.10.4 Run-Around Coil
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis By Technology
13.12 Absolute $ Opportunity Assessment By Technology
13.13 Market Attractiveness Analysis By Technology
13.14 Asia Pacific Recovery Ventilators Market Size & Volume Forecast By Application
13.14.1 Wall Mounted
13.14.2 Ceiling Mounted
13.14.3 Cabinet
13.14.4 Others
13.15 Basis Point Share (BPS) Analysis By Application
13.16 Absolute $ Opportunity Assessment By Application
13.17 Market Attractiveness Analysis By Application
13.18 Asia Pacific Recovery Ventilators Market Size & Volume Forecast By End User
13.18.1 Residential
13.18.2 Commercial
13.18.3 Industrial
13.19 Basis Point Share (BPS) Analysis By End User
13.20 Absolute $ Opportunity Assessment By End User
13.21 Market Attractiveness Analysis By End User
Chapter 14 Latin America Recovery Ventilators Analysis and Forecast
14.1 Introduction
14.2 Latin America Recovery Ventilators Market Size & Volume Forecast by Country
14.2.1 Brazil
14.2.2 Mexico
14.2.3 Rest of Latin America (LATAM)
14.3 Basis Point Share (BPS) Analysis by Country
14.4 Absolute $ Opportunity Assessment by Country
14.5 Market Attractiveness Analysis by Country
14.6 Latin America Recovery Ventilators Market Size & Volume Forecast By Functionality
14.6.1 Heat Recovery
14.6.2 Energy Recovery
14.6.3 Enthalpy Recovery (Humidity Recovery) Ventilators
14.6.4 Hybrid Multi-functional
14.7 Basis Point Share (BPS) Analysis By Functionality
14.8 Absolute $ Opportunity Assessment By Functionality
14.9 Market Attractiveness Analysis By Functionality
14.10 Latin America Recovery Ventilators Market Size & Volume Forecast By Technology
14.10.1 Plate Heat Exchanger
14.10.2 Heat Pipe Heat Exchanger
14.10.3 Rotary Heat Exchanger
14.10.4 Run-Around Coil
14.10.5 Others
14.11 Basis Point Share (BPS) Analysis By Technology
14.12 Absolute $ Opportunity Assessment By Technology
14.13 Market Attractiveness Analysis By Technology
14.14 Latin America Recovery Ventilators Market Size & Volume Forecast By Application
14.14.1 Wall Mounted
14.14.2 Ceiling Mounted
14.14.3 Cabinet
14.14.4 Others
14.15 Basis Point Share (BPS) Analysis By Application
14.16 Absolute $ Opportunity Assessment By Application
14.17 Market Attractiveness Analysis By Application
14.18 Latin America Recovery Ventilators Market Size & Volume Forecast By End User
14.18.1 Residential
14.18.2 Commercial
14.18.3 Industrial
14.19 Basis Point Share (BPS) Analysis By End User
14.20 Absolute $ Opportunity Assessment By End User
14.21 Market Attractiveness Analysis By End User
Chapter 15 Middle East & Africa (MEA) Recovery Ventilators Analysis and Forecast
15.1 Introduction
15.2 Middle East & Africa (MEA) Recovery Ventilators Market Size & Volume Forecast by Country
15.2.1 Saudi Arabia
15.2.2 South Africa
15.2.3 UAE
15.2.4 Rest of Middle East & Africa (MEA)
15.3 Basis Point Share (BPS) Analysis by Country
15.4 Absolute $ Opportunity Assessment by Country
15.5 Market Attractiveness Analysis by Country
15.6 Middle East & Africa (MEA) Recovery Ventilators Market Size & Volume Forecast By Functionality
15.6.1 Heat Recovery
15.6.2 Energy Recovery
15.6.3 Enthalpy Recovery (Humidity Recovery) Ventilators
15.6.4 Hybrid Multi-functional
15.7 Basis Point Share (BPS) Analysis By Functionality
15.8 Absolute $ Opportunity Assessment By Functionality
15.9 Market Attractiveness Analysis By Functionality
15.10 Middle East & Africa (MEA) Recovery Ventilators Market Size & Volume Forecast By Technology
15.10.1 Plate Heat Exchanger
15.10.2 Heat Pipe Heat Exchanger
15.10.3 Rotary Heat Exchanger
15.10.4 Run-Around Coil
15.10.5 Others
15.11 Basis Point Share (BPS) Analysis By Technology
15.12 Absolute $ Opportunity Assessment By Technology
15.13 Market Attractiveness Analysis By Technology
15.14 Middle East & Africa (MEA) Recovery Ventilators Market Size & Volume Forecast By Application
15.14.1 Wall Mounted
15.14.2 Ceiling Mounted
15.14.3 Cabinet
15.14.4 Others
15.15 Basis Point Share (BPS) Analysis By Application
15.16 Absolute $ Opportunity Assessment By Application
15.17 Market Attractiveness Analysis By Application
15.18 Middle East & Africa (MEA) Recovery Ventilators Market Size & Volume Forecast By End User
15.18.1 Residential
15.18.2 Commercial
15.18.3 Industrial
15.19 Basis Point Share (BPS) Analysis By End User
15.20 Absolute $ Opportunity Assessment By End User
15.21 Market Attractiveness Analysis By End User
Chapter 16 Competition Landscape
16.1 Recovery Ventilators Market: Competitive Dashboard
16.2 Global Recovery Ventilators Market: Market Share Analysis, 2020
16.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
16.3.1 Johnson Controls
16.3.2 CENTROTEC SE
16.3.3 Panasonic Corporation
16.3.4 Mitsubishi Electric Corporation Corporation
16.3.5 Systemair AB
16.3.6 LG Electronics
16.3.7 Nortek
16.3.8 SALDA UAB
16.3.9 ATREA s. r. o.
16.3.10 Munters
16.3.11 Komfovent
16.3.12 Klimor
16.3.13 Heatex
16.3.14 FUJITSU GENERAL
16.3.15 DRI
16.3.16 Zehnder Group
16.3.17 Carrier
16.3.18 Daikin Industries
16.3.19 Broan-NuTone, LLC.
16.3.20 Honeywell International Inc.
16.3.21 Lennox International