NEWARK, Del, April 17, 2024 (GLOBE NEWSWIRE) -- The global energy recovery ventilator core market is anticipated to reach a valuation of US$ 1.1 Billion in 2024, driven by collaboration with energy service companies. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 8.1% between 2024 and 2034, and reaching a total valuation of approximately US$ 2.5 Billion by 2034.
The increasing frequency and intensity of extreme weather events due to climate change are driving the demand for resilient HVAC systems, including energy recovery ventilators. Energy recovery ventilator core systems play a crucial role in maintaining indoor comfort and air quality during temperature fluctuations and adverse weather conditions.
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The growing emphasis on achieving net zero energy consumption in buildings is propelling the adoption of energy efficient technologies like energy recovery ventilators. The systems help reduce overall energy consumption and contribute to the goal of achieving sustainable building performance and energy neutrality.
Increasingly, building owners and operators are seeking customizable and modular energy recovery ventilator solutions tailored to their specific project requirements and space constraints. Manufacturers that offer flexible and scalable systems stand to capitalize on this demand and gain a competitive edge in the market.
Green building certifications such as Leadership in Energy and Environmental Design and Building Research Establishment Environmental Assessment Method are driving the adoption of energy recovery ventilators as a means to achieve certification requirements related to energy efficiency, indoor air quality, and environmental sustainability.
Key Takeaways from the Market Study
- Global energy recovery ventilator core market was valued at US$ 1.0 Billion in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 10.6%.
- The market in Japan is expected to expand at a CAGR of 9.8% through 2034.
- By material types, the fibrous paper segment to account for a CAGR of 7.8% through 2034.
- The market in the United Kingdom is expected to expand at a CAGR of 9.3% through 2034.
- In terms of shapes, the diamond segment to account for a market share of 7.6% in 2024.
“Ongoing advancements in material science and manufacturing techniques are enabling the development of lightweight, high performance cores with improved thermal conductivity, corrosion resistance, and longevity. Innovations in materials and production processes contribute to the optimization of the system performance and reliability,” - says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
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Competitive Landscape
Prominent players in the energy recovery ventilator core market are Core, Inc., Ruskin, Beijing Holtop Air Conditioning Co., Ltd., Greenheck Fan Corporation, Oji Container Co., Ltd., Innergy Tech, Inc., Hoval, Xiamen AIR-ERV Technology Co., Ltd., Klingenburg USA, LLC, and Dais Corporation, among others.
Company Portfolio
- Mitsubishi Electric is known for its innovative HVAC solutions, including energy recovery ventilators with advanced heat exchange technologies. The emphasis of the company on product quality, energy efficiency, and customer satisfaction strengthens its position in the competitive landscape.
- Johnson Controls offers a diverse portfolio of HVAC products and solutions, including energy recovery ventilators designed to enhance indoor air quality and energy efficiency. The global presence and strong distribution network of the company contribute to its competitiveness in the market.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global energy recovery ventilator core market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the energy recovery ventilator core market, the market is segmented on the basis of material types (fibrous paper, engineered resin, others), shapes (diamond, square, wheel, hexagon), and flow types (crossflow, counter flow), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa).
Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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