North America Residential Heat Recovery Ventilators Market Outlook
The North America Residential Heat Recovery Ventilators (HRV) market was valued at USD 303.7 Million in 2020 and is projected to reach USD 473.3 Million by 2028, expanding at a CAGR of 6.1% during the forecast period. A heat recovery ventilator (HRV) is a ventilation system, which delivers fresh air by balancing humidity within the room area and eliminating polluted indoor air. It is sometimes referred to as HRV ventilation system or HRV air exchanger or mechanical ventilation.
It collects pollutants, pollen, and other potentially dangerous particles to guarantee that only fresh air reaches the available room area. An HRV is built in areas with high concentration of people. It helps to reduce utility costs and collect energy in the building. A heat recovery ventilator introduces fresh air into the building or rooms, decreases CO2 levels, and keeps people alert and healthy. It aids in odor management by allowing stale air to be evacuated and new air to enter the structure.
The key purpose of an HRV is to deliver passive homes with a ventilation system, which takes away humid and stale air and delivers fresh air into the home. Some of the key benefits of installing an HRV includes:
- Removal and filtering of formaldehyde, allergens, and other toxins from indoor spaces
- Improves respiration for asthma sufferers
- Reduces bathroom, cooking, kitchen and pet odors
- Boosts energy efficiency of homes
- Mitigating mildew and mold risks
- Keeps temperatures consistent
- Traps and recalculates pollutants.
North America Residential Heat Recovery Ventilators Market Dynamics
Various rules and regulations by the government to reduce energy consumption in buildings are projected to drive the demand for Residential Heat Recovery Ventilators (HRV) during the forecast period. HRV systems supply fresh air to living spaces at uncomfortable temperatures. As a result, occupants turn off the unit or use it intermittently. This poses a concern; as indoor air quality is hampered without constant ventilation.
According to the United States Environmental Protection Agency (EPA), buildings use around 40% of the annual energy consumption and nearly 75% of the electricity demand in the US. Moreover, buildings account for nearly 30% of the total carbon dioxide, which is the main greenhouse gas related to atmospheric warming, approximately 25% of the nitrogen oxides, and 49% of the sulfur dioxide emitted in the US; thus, the need to decrease energy consumption in buildings is essential in order to meet environmental and national energy challenges.
Growing need to reduce energy consumption in residential buildings is anticipated to boost the demand for Residential Heat Recovery Ventilators (HRV) during the forecast period.
HRV systems save energy, which reduces utility bills. A heat exchanger transfers heat from the exhaust air to the incoming air. Heat recovery ventilators are up to 95% efficient, which saves energy. This helps to reduce the size of the HVAC equipment, as it reduces the work of the HRV unit to heat and cool the intake air.
High-speed operation is often triggered when humidity levels rise, such as when the kitchen or bathroom is in use, or during a party with high numbers of occupants. High-speed operation is used to quickly expel noxious chemicals such as cigarette smoke or emissions during house construction and exhaust pollutants such as VOCs and formaldehyde.
Demand for replacing and modernizing existing equipment, regulatory changes, the level of housing starts, and manufactured housing shipments are the principal factors that affect the market for residential HVAC products. Demand for replacement of outdated products is anticipated to continue to exceed the demand for new products, as a large number of previously installed heating and cooling products become outdated or reach the end of their useful lives.
Demand for residential cooling products is affected by spring and summer temperatures; however, the seasonal effects are less dramatic than those experienced in the window air conditioning market.
HRV systems require complicated installation procedures, which is a key factor limiting the market growth. Integration of heat recovery fans is difficult in old facilities without space for installing fans. The wrong position of these systems reduces the intake of outdoor air and prevents airflow, causing the polluted air to be changed by the purified air. The system requires a large amount of additional air conduction for longer duration, depending on the nature and installation of residential heat recovery ventilators. The pipe needs to be shielded and isolated from external dirt and dust, which increases product maintenance.
Proper maintenance of HRV is critical. Filters should be cleaned and/or replaced every 3 months and the exterior exhaust and intake hoods and screens should be inspected and cleaned at least once per year, which increases the cost. HRV systems are not always installed in adherence with best practices. Most homeowners do not understand or follow usage and maintenance guidelines for their HRV units.
Rising demand for heat recovery ventilators and increasing competition are expected to influence continuous product developments, due to accelerated industrialization and rising investments in research and development of eco-friendly solutions. Companies are trying to introduce new technologies in products to attract consumers interested in sustainable products. Companies are also trying to reduce the cost of the product, which will help them to get an additional advantage in the competitive market.
Increasing innovations in heat recovery ventilators to meet the customized ventilation requirements of various end users act as an opportunity for the growth of the heat recovery ventilator market.
North America Residential Heat Recovery Ventilators Segmental Outlook
Based on types, the Residential Heat Recovery Ventilators (HRV) market is divided into wall mounted and central mounted. The central segment accounted for a significant share of the market in 2019, owing to its rising demand as government has mandatory to install the HRV.
Based on applications, the market is divided into new homes and retrofit projects. The new homes segment is projected to grow at a considerable CAGR of 6.3% during the forecast period. This growth is attributed to the increasing demand for green buildings and rising awareness about Indoor Air Quality (IAQ).
On the basis of air flow volume, the Residential Heat Recovery Ventilators (HRV) market is classified as 0-100 cfm, 100-150 cfm, 150-200 cfm, 200-250 cfm, and 250-1500 cfm. The 0-100 cfm segment is projected to grow at a considerable 6.4% CAGR during the forecast period. This growth is attributed to the increasing demand for Energy Recovery Ventilators (HRV) in small homes with 0-5 bedrooms and low cost associated with 0-100 cfm HRV as compared to other airflow volumes.
Regional Outlook
In terms of countries, the North America Residential Heat Recovery Ventilators (HRV) market is fragmented into US and Canada. The US is a promising country of the market. The Residential Heat Recovery Ventilators (HRV) market is expected to expand at a substantial pace in the US owing to the implementation and formulation of government rules involving the employment of HRV in green buildings along with retrofitting the existing buildings with Residential Heat Recovery Ventilators.
Moreover, increasing investment in the residential sector is projected to boost the requirement for installation of heat recovery ventilators in the US to offer a healthy and safe indoor environment across the sector.
Key Benefits for Industry Participants & Stakeholders
- In-depth analysis of the North America Residential Heat Recovery Ventilators (HRV) market
- Historical, current and projected market size in terms of value (USD million), volume (tons)
- 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 North America Residential Heat Recovery Ventilators (HRV) market performance
Segments
By Types
- Wall mounted
- Central mounted
By Applications
- New Homes
- Retrofit Projects
By Air Flow Volumes
- 0-100 cfm
- 100-150 cfm
- 150-200 cfm
- 200-250 cfm
- 250-1500 cfm
By Countries
- U.S.
- Northeast
- Southeast
- Midwest
- Southwest
- West
- Canada
- The Atlantic Provinces
- Central Canada
- The Prairie Provinces
- The West Coast
- The Northern Territories
Key Players
Competitive Landscape
- Key players in the Residential Heat Recovery Ventilators (HRV) market include Zehnder Group AG, Field Controls, LLC, Lennox International Inc., Vents-US, Airia Brands Inc (Lifebreath), blauberg-na, Carrier, Fantech, Venmar, Nu Air.
- Zehnder Group AG started a local sourcing initiative using North America based manufacturing for its new ComfoFlex ducting and register boxes, as the demand for Zehnder Heat Recovery Ventilator (HRV) and Energy Recovery Ventilator (ERV) Comfosystems increased significantly in the market in the US over the past few years.
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