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The heat and energy recovery ventilation system market size is estimated to grow at a CAGR of 8.17% between 2023 and 2028. The market size is forecast to increase by USD 1.77 billion. The growth of the market depends on several factors including the rising demand for heat and energy recovery ventilation system due to awareness of indoor air quality, the increasing demand due to sustainability initiatives and the advancements in heat exchanger technology and control systems.
The research report on the heat and energy recovery ventilation system market offers industry forecasts and segmentation based on Type including ceiling-mounted, wall-mounted, and cabinet-mounted. It also segments the market by End-user, which comprises commercial, residential, and industrial. Geographically, the report covers North America, Europe, APAC, South America, and the Middle East and Africa. The market size, historical data (2018-2022), and future forecasts are presented in terms of value (in USD billion) for all these mentioned segments.
Heat and Energy Recovery Ventilation System Market Forecast 2024-2028
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The global heat and energy recovery ventilation systems market is being driven by the growing recognition of the significance of clean indoor air quality. There is an increasing need for systems that offer both excellent air filtration and effective ventilation as people become more aware of the negative effects indoor air pollution has on their health. By recovering heat or energy from the exhausted interior air and bringing in fresh outdoor air, the heat and energy recovery ventilation system presents a convincing alternative that lowers energy expenses. For example, in highly polluted cities like Delhi, Beijing, or Los Angeles, these systems have become increasingly popular since they keep indoor air quality good by filtering out contaminants.
Furthermore, as indoor air quality rules and regulations become stricter, there is an increasing need for heat and energy recovery ventilation systems from businesses, institutions, and homeowners who want to guarantee a more comfortable and healthy living and working environment. All these factors are expected to drive the global heat and energy recovery ventilation system market during the forecast period.
An emerging trend in the global heat and energy recovery ventilation system market is the growing integration of IoT and smart building technologies, which allows for more intelligent and effective regulation of ventilation systems. The increasing need for sustainable and energy-efficient building solutions is what is driving this integration. Sensors and automation are being added to ventilation systems so they can adjust to changing conditions in real time, maximize air quality, and use less energy. For instance, sensors can measure temperature, air quality, and occupancy levels and then modify ventilation rates appropriately. Smart ventilation solutions, like those offered by Panasonic, employ the IoT to analyze data about indoor air quality and make automated, exact ventilation adjustments.
However, this tendency supports the larger objective of developing ecologically responsible buildings while also improving user comfort and energy efficiency. The integration of heat and energy recovery ventilation systems with smart buildings and IoT systems will have a positive impact on the growth of the global heat and energy recovery ventilation system market during the forecast period.
In the heat and energy recovery ventilation system market, the upfront cost of installing energy recovery ventilation and heat systems poses a considerable challenge. Although the energy efficiency and indoor air quality of these systems are intended to be improved, the initial costs of purchase and installation may be substantial. For example, the price of a household unit may be anywhere from USD 1,500 to USD 5,000, but the cost of an industrial or commercial installation could reach tens of thousands of dollars. This may be a deterrent for certain customers, especially in residential situations where they may choose less-priced but less effective ventilation options.
Moreover, these systems can save expenditures in the long run by reducing energy use and improving air quality, their high initial cost may put off buyers on those with limited funds. Hence, the high upfront cost of heat and energy recovery ventilation systems will thereby negatively impact the heat and energy recovery ventilation system market in terms of revenue during the forecast period.
The ceiling-mounted segment will account for a major share of the market's growth during the forecast period. The adaptability, efficiency, and compact design of ceiling-mounted heat and energy recovery ventilation systems have made them the leading type in the heat and energy recovery ventilation system market in recent years.
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The ceiling-mounted segment was the largest and was valued at USD 1.28 billion in 2018. Furthermore, the efficient dispersion of conditioned air is made possible by their centralized positioning. They minimize visual effects in living spaces and guarantee improved air quality in residential situations. With its capacity for heat recovery, ceiling-mounted systems are becoming increasingly popular as energy efficiency and environmental concerns take center stage. These systems also save money over the long run by consuming less energy. Owing to such factors, ceiling-mounted systems are rapidly becoming the preferred option due to their simplicity, attractiveness, and sustainability. The heat and energy recovery ventilation system market is expected to witness growth during the forecast period.
Based on the end-user, the market has been segmented into commercial, residential, and industrial. The commercial?segment will account for the largest share of this segment. The commercial sector has emerged as a leading end-user of heat and energy recovery ventilation systems in recent years. Commercial buildings are using these systems due to growing awareness of indoor air quality and energy efficiency. To lower energy costs and maintain a comfortable indoor atmosphere, examples of buildings with integrated heat and energy recovery ventilation include office buildings, shopping centers, and hotels. The commercial sectors adoption of these technologies is also motivated by the continuous focus on sustainability and green construction practices. Such factors will drive the growth of the heat and energy recovery ventilation system market during the forecast period.
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North America is estimated to contribute 38% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The North American heat and energy recovery ventilation system market is expected to increase significantly during the forecast period. This growth is being fueled by several factors, such as stricter environmental restrictions, a growing emphasis on indoor air quality, and energy efficiency. Heat and energy recovery ventilation system has become increasingly popular for their capacity to lower energy usage while preserving a healthier interior climate, as consumers and organizations are seeking more environmentally friendly and sustainable alternatives.
Moreover, the demand for heat and energy recovery ventilation systems is boosted as a result, which also motivates manufacturers to improve the functionality and features of their products. Such factors are expected to drive the growth of the regional heat and energy recovery ventilation system market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Carrier Global Corp- The company offers heat and energy recovery ventilation systems such as Comfort energy recovery ventilator, Performance horizontal energy recovery ventilator, and Performance vertical energy recovery ventilator.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Airxchange Inc., Carrier Global Corp., Daikin Industries Ltd., Dais Corp., Fujitsu General Ltd., Greenheck Fan Corp., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., Loren Cook Co., Mitsubishi Electric Corp., Munters Group AB, Nortek Air Solutions LLC, Ostberg Group AB, Panasonic Holdings Corp., Paschal Air Plumbing and Electric., S and P SISTEMAS DE VENTILACION S.L.U., Trane Technologies plc, Zehnder Group AG, and KARYER Heat Transfer San. and Tic. Inc.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The heat and energy recovery ventilation system market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Heat And Energy Recovery Ventilation System Market Scope |
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Report Coverage |
Details |
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Page number |
172 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.17% |
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Market Growth 2024-2028 |
USD 1.77 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.66 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 38% |
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Key countries |
US, Canada, China, Japan, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Airxchange Inc., Carrier Global Corp., Daikin Industries Ltd., Dais Corp., Fujitsu General Ltd., Greenheck Fan Corp., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., Loren Cook Co., Mitsubishi Electric Corp., Munters Group AB, Nortek Air Solutions LLC, Ostberg Group AB, Panasonic Holdings Corp., Paschal Air Plumbing and Electric., S and P SISTEMAS DE VENTILACION S.L.U., Trane Technologies plc, Zehnder Group AG, and KARYER Heat Transfer San. and Tic. Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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