The report "Energy Recovery Ventilator Market by Technology Type (Plate Heat Exchanger, Heat Pipe Heat Exchanger, Rotary Heat Exchanger, Run-Around Coil), Application (Commercial, Residential), and Region (NA, EU, APAC, MEA, SA) - Global Forecast to 2022", The energy recovery ventilator market is projected to grow from USD 1.97 Billion in 2017 to USD 3.37 Billion by 2022, at a CAGR of 11.4% from 2017 to 2022. Growing need to reduce energy consumption in residential and commercial buildings, increasing number of green buildings across the globe, and growing awareness to maintain the quality of indoor air are the key factors driving the growth of the energy recovery ventilator market.
The plate heat exchanger technology type segment is estimated to account for the largest share of the energy recovery ventilator market in 2017. The growth of this segment of the market can be attributed to the high efficiency of plate heat exchangers to transfer heat, ease of their maintenance, and their compact design.
Among applications, the commercial segment is estimated to account for the largest share of the energy recovery ventilator market in 2017. Energy recovery ventilators introduce pre-tempered air into the main air conditioning units. These systems help in stabilizing the humidity levels of the indoor air in buildings. Thus, there is a high demand for these energy recovery ventilators in commercial applications.
Some of the leading players operating in the energy recovery ventilator market include Mitsubishi Electric Corporation (Japan), Daikin (Japan), Panasonic Corporation (Japan), LG Electronics (South Korea), Johnson Controls (US), Munters (Sweden), FUJITSU GENERAL (Japan), Carrier Corporation (US), Nortek Air Solutions (US), and Greenheck Fan (US), among others.
