According to the latest report, titled “Energy Recovery Ventilator market: Industry Trends, Share, Size, Growth, Opportunity and Forecast’ the India facility management market is expected to exhibit a Huge CAGR during the Forecast Period. The Energy Recovery Ventilator market is projected to grow from USD 3.18 billion in 2021 to USD 5.61 billion in 2028 at a CAGR of 8.4% during the 2021-2028 period.
This COVID-19 analysis of the report includes COVID-19 IMPACT on the production and, demand, supply chain. This report provides a detailed historical analysis of the global Energy Recovery Ventilator market by region/country and subsectors. The report covers the revenue, sales volume, price, historical growth, and future perspectives in the Energy Recovery Ventilator market.
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A few top players in the industry are–
- Carrier (United Technologies) (United States)
- Johnson Controls (Ireland)
- Daikin Industries, Ltd. (Japan)
- Mitsubishi Electric Corporation (Japan)
- Trane (Ireland)
- LG Electronics (South Korea)
- Nortek Air Solutions, LLC (United States)
- Lennox International Inc. (United States)
- Greenheck (United States)
- Fujitsu Limited (Japan)
- Zehnder (Switzerland)
- HIMPEL (South Korea)
- Renewaire (United States)
- Dae Ryun Ind. Co. Ltd. (Korea)
- Ostberg (Sweden)
- Ruskin (United States)
- S&P USA Ventilation Systems, LLC (United States)
- UltimateAir, Inc. (United States)
The report gives a precise view of the future perspective and present market demands. The report also includes facts and statistics, tables & figures referred to in this report for strategic planning which leads to the success of the organizations. In this market report, the market share that various manufacturers hold in the global Energy Recovery Ventilator market and the market concentration is described in the report.
On the basis of Geography, the Global Energy Recovery Ventilator market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold a considerable share in the global Energy Recovery Ventilator market. Due to increasing investment for research and development process and adoption of solutions in the region whereas Asia-Pacific is expected to grow at a faster pace during the forecasted period.
The growing number of Energy Recovery Ventilator market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.
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Rising Trend of Green Building to Propel Market Growth
The increasing trend of green buildings is fueling the energy recovery market growth. The U.S. Green Building Council (USGBC) reports that green and healthier buildings with ventilation systems provide a return on investment (ROI) of about 19%. Moreover, the building asset is also increased by 10%. Additionally, major suppliers are thus coming up with green building certifications to allure their customers. For instance, RenewAire Company offers air exchangers that meet the stringent energy-efficiency requirements for green building certifications. Therefore, the growing construction activities across the globe for green buildings is expected to drive the energy recovery ventilator market growth.
North America to Remain at Forefront; Harsh Climatic Conditions in the Region to Spur Demand
North America is expected to remain at the forefront and hold the highest position market during the forecast period due to the region’s harsh climatic conditions. Increased hailstorms and jungle fires have worsened the indoor air quality, therefore affecting people’s health. Additionally, rising residential prices are promoting the market. The region stood at USD 1.01 billion in 2020.
Asia Pacific is expected to showcase a significant energy recovery ventilator market share. It is attributable to the enhanced living standard in countries such as China, India, Malaysia, South Korea, Thailand, and others.
An overview of the Energy Recovery Ventilator market’s regional outlook:
The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is further subdivided into countries such as the United States and Canada. The Europe region is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific are subdivided into Asia Pacific. The Latin America region is separated into Brazil, Mexico, and the rest of Latin America, whereas the MEA region is divided into GCC, Turkey, South Africa, and the rest of MEA.
Key Players Focusing on Acquisitions to Intensify Market Growth
The market is consolidated by major companies striving to maintain their position by focusing on mergers and acquisitions. For instance, in March 2019, Qinggonglian Electrical Installation Engineering Co., Ltd. was acquired by LG Electronics. LG aims to capture the competitive market of air conditioners in China. It also focuses on widening its product portfolio in large cities with a demand for air conditioner solutions across China. Additionally, other key players are adopting proactive strategies such as new partnerships, mergers, and collaborations that will favor the market’s growth in the upcoming years.
- What is the driving factor for the growth of the Energy Recovery Ventilator market?
- How will the COVID-19 pandemic impact the demand and consumption of the Energy Recovery Ventilator market?
- What is the major application area of the Energy Recovery Ventilator market?
- Who are the Energy Recovery Ventilator market manufacturers across the globe?
- Which geographical location is dominant in the Energy Recovery Ventilator market?
- Which are the top industry players in the Energy Recovery Ventilator market?
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