PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1590396
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1590396
The global energy recovery ventilator core market is projected to grow from USD 1.01 billion in 2024 to USD 1.56 billion by 2030, at a CAGR of 7.4% during the forecast period. This growth is fueled by several factors, including the expansion of residential and commercial construction projects in various developing nations, the implementation of energy efficiency standards and regulations by government bodies, the need to enhance indoor air quality in tightly sealed buildings, and evolving climate conditions.
Scope of the Report | |
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Years Considered for the Study | 2019-2022 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD Million) |
Segments | By Material Type, Shape, Flow Type, and Region. |
Regions covered | Asia Pacific, North America, Europe, Middle East & Africa, and South America |
"Fibrous Paper segment, by material type, is estimated to account for the second largest share during the forecast period."
The fibrous paper segment is projected to secure the second-largest share in the forecast period. The cellulose-based fibrous paper ERV cores are exceptionally good at transferring both sensible and latent heat, ensuring optimal indoor humidity levels are within the range of 40% to 60%. These cores permit water molecules to pass through selectively but deny entry of harmful pollutants like CO2 and NO2. They are, therefore, suitable for use in improving indoor air quality. This paper is fibrous with high moisture permeability, airtightness, and resistance towards aging, mildew, and bacteria growth.
"By flow type, counter-flow segment accounted for the second largest share during the forecast period."
The Counter-flow segment by flow type is expected to have the second-largest share of the energy recovery ventilator core market. The increasing applications in residential and commercial areas drive the growth. Counter-flow ERV cores have superior efficiency and are highly valued for their suitability in HVAC systems in buildings that focus on energy conservation and IAQ. Because the airflow streams run counter-flow, maximum contact time between the two streams is achieved. The design thus extracts the maximum recoverable heat. It is one of the most popular configurations for ensuring efficient energy transfer under various climatic conditions by maximizing the transfer of sensible and latent heat from both airstreams.
"By shape, square segment accounted for the second largest share during the forecast period."
The square segment by shape is expected to have the second-largest share of the energy recovery ventilator core market, primarily owing to its crossflow design, which is highly efficient for low-maintenance applications. The channels for airflow in square-shaped ERV cores are usually formed by flat aluminum foils, through which separate channels pass fresh and exhaust air streams without direct contact between the two airstreams. The design, which uses a polymer membrane in the core, retains high latent efficiency without allowing pollutants, pathogens, or odors to diffuse. Low-pressure-drop configurations and ease of modifications for different configurations make square-shaped ERV cores versatile and durable, a feature desirable both in residential and commercial HVAC systems intended for air quality improvement and energy efficiency.
"Europe region is estimated to account for the second largest share during the forecast period."
Europe is the second-largest region in the energy recovery ventilator core market, primarily because of strict regulatory policies on energy efficiency and growing indoor air quality awareness. The area has dedicated itself to sustainability and carbon emission reduction, resulting in the massive adoption of energy-efficient HVAC systems in residences and commercial domains. Germany, France, and the UK are paramount countries imposing green building standards. This has led to a growing need for more advanced ventilation solutions that can offer high heat and moisture recovery efficiency, as air pollution is a significant cause of damage to human health, especially in population-dense urban areas.
CORE Energy Recovery Solutions (Germany), HOLTOP (China), Greenheck Fan Corporation (US), Ruskin (US), and Innergy Tech Inc. (Canada) are some of the major players in the energy recovery ventilator core market. These players have adopted acquisitions, expansions, product launches, and partnerships to increase their market share and business revenue.
The report defines, segments, and projects the energy recovery ventilator core market based on material type, flow type, shape, and region. It provides detailed information regarding the major factors influencing the market's growth, such as drivers, restraints, opportunities, and challenges. It strategically profiles energy recovery ventilator core manufacturers. It comprehensively analyzes their market shares and core competencies and tracks and analyzes competitive developments, such as expansions, agreements, product launches, and acquisitions, undertaken by them in the market.
The report is expected to help the market leaders/new entrants by providing the closest approximations of revenue numbers for the energy recovery ventilator core market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the market's competitive landscape, gain insights to improve the position of their businesses and make suitable go-to-market strategies. It also enables stakeholders to understand the market's pulse and provides them with information on key market drivers, restraints, challenges, and opportunities.