Enjoy complimentary customisation on priority with our Enterprise License!
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.
Heat and Energy Recovery Ventilation System Market Forecast 2024-2028
To learn more about this report, Request Free Sample
The global market for heat recovery ventilators and eco-friendly ventilation systems is witnessing significant growth, driven by increasing awareness of the importance of clean indoor air quality. As people become more conscious of the detrimental effects of indoor air pollution on their health, there is a growing demand for ventilation systems that not only provide excellent air filtration but also effectively ventilate indoor spaces. Heat and energy recovery ventilation systems offer a compelling solution by recovering heat or energy from the exhausted indoor air and bringing in fresh outdoor air. This not only improves indoor air quality but also helps lower energy costs.
In highly polluted cities such as Delhi, Beijing, or Los Angeles, the popularity of heat and energy recovery ventilation systems is on the rise as they play a crucial role in maintaining good indoor air quality by filtering out contaminants. Moreover, with stricter regulations governing indoor air quality, businesses, institutions, and homeowners are increasingly turning to heat and energy recovery ventilation systems to ensure a comfortable and healthy living and working environment. These market trends, along with comprehensive market research and growth analysis, indicate promising opportunities for the global heat and energy recovery ventilation system market, with strong growth and forecasting prospects in the coming years.
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 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 market growth analysis, market growth and forecasting, and market forecasting 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.
Customised Report as per your requirements!
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.
For more insights on the market share of various regions Download Sample PDF now!
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.
The Heat and Energy Recovery Ventilation System Market plays a vital role in enhancing HVAC systems and ensuring optimal indoor air quality while prioritizing energy efficiency. These systems, also known as ventilation solutions, incorporate advanced heat recovery systems and energy recovery units to minimize heat loss and maximize energy conservation. By facilitating efficient air exchange and promoting building ventilation, they contribute to the creation of sustainable buildings and the adoption of green building technologies. Equipped with air filtration systems and heat exchangers, these systems provide a continuous supply of fresh air while effectively managing building climate control. As part of building energy management, heat and energy recovery ventilation systems represent an eco-friendly approach to ventilation technologies, ensuring both comfort and environmental responsibility.
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.
Heat And Energy Recovery Ventilation System Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.17% |
Market Growth 2024-2028 |
USD 1.77 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.66 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 38% |
Key countries |
US, Canada, China, Japan, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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. |
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. |
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
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.