Residential Heat and Energy Recovery Ventilators Market Outlook 2031:
The Europe residential heat and energy recovery ventilators market size was valued at USD 1.07 Billion in 2022 and is projected to reach USD 1.85 Billion by 2031, expanding at a CAGR of 6.3% during the forecast period 2023 - 2031.
Every residential place requires ventilation, whether natural or mechanical with the use of a heat recovery ventilator (HRV) or energy recovery ventilator (ERV). The recovery of energy from the exhaust air is gaining popularity in cold regions and in modern day buildings and houses that are constructed to be airtight, such as passive houses or LEED certified homes, unlike previously constructed houses that leaked heat and moist into the air.
ERVs and HRVs are moderately new to the mainstream home construction. Energy recovery ventilators and heat recovery ventilators are considered as air exchange systems that help improve the quality of indoor air, while minimizing the cost of heating. The key purpose of these ventilators is to retain existing heat and optimizing the content of internal humidity in the air.
These mechanical systems use fans, while exhausting stale indoor air to maintain a balanced airflow inside the home. An HRV system draws fresh external air inside the residence and forces stale indoor air out. It retains the temperature from the exhausted air and transfers it to the incoming air; thereby warming the fresh air during the winters, and cooling it during the summers.
This helps in the reduction of energy required to carry the newly absorbed air to the internal room temperature. The heat exchange between the two airstreams is completed by conducting them through separate channels in the ventilator. These are some of the factors, which drives the demand for the market.
Residential Heat and Energy Recovery Ventilators Market Dynamics
Increasing awareness regarding the ill effects on health caused by Bad Air Quality
Longer exposure to certain pollutants increases risk of emphysema. The coarse particulate matter (PM10) causes nasal and upper respiratory problems. Fine particles are less than or 2.5 microns diameter (PM2.5), which penetrate deep into the lungs, leading to cardiac arrests, strokes, asthma, bronchitis, pulmonary disorders, and cancers. Increase in PM2.5 exposure can damage a child brain development. Rising awareness about such ill effects on health due to bad air quality increases the inclination toward HRV/ERV, as it improves air quality.
Growing Number of Government Initiatives in Europe
The need for residential heat & energy recovery ventilators in Europe is expected to grow during forecast period, as governments across the region are introducing energy policies that encourage the use of alternative and clean-energy solutions. The process of achieving the Sustainable Development Goals adopted by the UN in September 2015 enable countries in the region to reduce fossil fuels and focus on renewable energy production by meeting the UN’s objectives by 2030. This, in turn, boosts the market in the region.
Complex Installation Process of Residential Heat & Energy Recovery Ventilators
The HRV/ERV systems require complex installation procedures, which is a key factor limiting the growth of the market. The integration of heat & energy recovery ventilators is difficult in old establishments, which may not have ventilator installation spaces. Incorrect location of these systems can reduce the intake of outdoor air and prevent airflow, resulting in contaminated air being changed with the purified air.
In particular, the system needs an additional significant duration for air conduction, depending on the nature and installation of residential heat & energy recovery ventilator. The ducts need to be screened and isolated from external dirt and dust, which increases product maintenance. This increases direct and indirect costs associated with HRVs and ERVs, thus hampering the market.
Scope of Residential Heat and Energy Recovery Ventilators Market Report
The report on the global residential heat and energy recovery ventilators market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
||Residential Heat and Energy Recovery Ventilators Market- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
||2016 – 2021
||By Technology Types (Plate Heat Exchanger, Rotary Heat Exchanger, Others), and By Axis Types (Horizontal and Vertical)
||Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
||Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
|Key Players Covered in the Report
||ENTROTEC SE, DAIKIN INDUSRIES, Ltd, DRI, FUJITSU GENERAL, Heatex, Johnson Controls, Klimor Sp. z o.o, Komfovent, LG Electroncis, Nortek Air Solutions, LLC, SALDA UAB, Panasonic Corporation, Systemair AB, Zehnder Group AB, ATREA s.r.o.
Residential Heat and Energy Recovery Ventilators Market Segmental Outlook
On the basis of technology types, the market is segmented into plate heat exchanger, rotary heat exchanger, and others. The plate heat exchanger residential heat and energy recovery ventilators segment accounted for over 2/3rd share of the market in 2019.
The rapid growth of the plate heat exchanger segment is attributed to the adoption of plate heat exchanger as, it helps in reaching surface exchange areas up to thousands of square meters. These are some of the factors, which contributes for the demand for the plate heat exchange.
In terms of axis types, the Europe residential heat and energy recovery ventilators market is segregated into horizontal and vertical. Vertical segment is anticipated to expand at a CAGR of 6.4% during the forecast period.
The vertical segment provides better energy management than its counterpart. Moreover, thermal performance of horizontally placed ventilators is considered to be not as good as the vertical ones, indicating an uneven distribution of water film in the exhaust air channels. Moreover, in Europe, where most places are dry, vertical installed recovery ventilators are preferred over its counterpart due to its performance edge.
In terms of countries, the Europe residential heat and energy recovery ventilators market is fragmented into Germany, France, U.K., Italy, Denmark, Norway, Sweden, Finland, Iceland, Spain, Russia, and Rest of Europe. Germany constituted one fourth share in 2020. The market in the Denmark is projected to expand at a CAGR of 6.9% during the forecast period.
Introduction of new technology and rising adoption of the residential heat energy recovery ventilators in homes and offices are some of the factors, which contributes for the growth of the Europe Residential Heat and Energy Recovery Ventilators market in Denmark.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Europe residential heat and energy recovery ventilators market
- Historical, Current and Projected Market Size in terms of Value and volume
- 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 Europe residential heat and energy recovery ventilators market Performance
By Technology Types
- Plate Heat Exchanger
- Rotary Heat Exchanger
By Axis Types
- Rest of the Europe
- CENTROTEC SE
- DAIKIN INDUSTRIES, Inc.
- FUJITSU GENERAL
- Lonza Group Ltd
- Johnson Controls
- Klimor Sp. z o.o
- LG Electronics
- Nortek Air solutions,LLC
- SALDA UAB
- Panasonic Corporation
- Systemair AB
- Zehnder Group AB
- ATREA s.r.o
- Key players in the market include CENTROTEC SE, DAIKIN INDUSRIES, Ltd, DRI, FUJITSU GENERAL, Heatex, Johnson Controls, Klimor Sp. z o.o, Komfovent, LG Electroncis, Nortek Air Solutions, LLC, SALDA UAB, Panasonic Corporation, Systemair AB, Zehnder Group AB, ATREA s.r.o. These companies are considered manufacturers of Europe Residential Heat and Energy Recovery Ventilators market based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.
- The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the is added in the company’s capacity.
- For Instance, In April 2020, CENTROTEC SE's subsidiary Wolf GmbH announced plans to expand its product portfolio with the models CGB-2-38 and CGB-2-55.
- For instance, In March 2015, CENTROTEC SE's subsidiary acquired PRO-KLIMA, a Croatia-based air conditioning and ventilation device manufacturer.