United States, Rockville MD, July 20, 2022 (GLOBE NEWSWIRE) -- Fact.MR Industrial Goods Research Division, in its recent publication on the global heat recovery ventilator (HRV) market, has positioned it as a moderate growth, high dollar opportunity market, with an absolute dollar opportunity of US$ 4.2 Bn. Heating, ventilation, and air conditioning (HVAC) unit sales are soaring every quarter, thereby driving strong sales for allied industries.
As per latest analysis by Fact.MR, heat recovery ventilator sales accounted for 6%-8%, which is predicted to rise to 10%-12% by 2032. The global heat recovery ventilator market is estimated at US$ 3.7 Bn in 2022, and is forecast to reach US$ 7.7 Bn by the end of 2032, increasing at a CAGR of 7.4% over the 2022-2032 assessment period.
While the world is concerned about global warming, there has been significant progress in the construction and maintenance of buildings, which have been identified as micro contributors to climate change. The number of green buildings is growing, with efficient heat recovery systems such as heat recovery ventilators replacing other component installations such as exhaust fans.
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Key Takeaways from Market Study
- Consumption of heat recovery ventilators is expected to grow 2.2X by 2032.
- Ceiling-mounted heat recovery ventilators represented 47.2% of total sales in 2021.
- At 55%, residential heat recovery ventilators commanded the largest share of global revenue in end-use verticals.
- On the basis of venting, horizontal heat recovery ventilators are projected to account for and. absolute dollar opportunity of US$ 3.6 Bn during 2022 – 2032.
- In terms of air flow volume, heat recovery ventilators with 0 – 100 cfm accounted for 64.3% share in the global market in 2021.
“With efficient ventilation turning out to be inevitable in the building and construction industry, the heat recovery ventilator market is poised to grow on a splendid note in the next 10 years” says a Fact.MR analyst.
Growth Drivers:
- Many countries have either recommendations or regulations regarding ventilation standards for new homes and light commercial applications. Along with indoor air quality, this has pushed the agenda of energy efficiency to the forefront, increasing demand for heat exchangers, including heat recovery ventilators.
- While heat recovery ventilation systems are becoming a standard feature of new construction in developed countries, their affordability remains an issue in late adopter countries. However, recent trends in heat recovery ventilators indicate that consumers' desire to improve their quality of life in emerging countries is encouraging them to invest in ventilation systems as well.
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Market Developments
The key participants in heat recovery ventilator market include ELIM Electronics, Panasonic Corporation, LG Electronics, Mitsubishi Electric, Daikin Industries, Ltd., and Fujitsu General.
- Mitsubishi, in October 2021, did announce launching “Integrate Building Systems” for building a subsidiary for helping in realization of decarbonized society via heat recovery ventilators.
- Mitsubishi Electric, in September 2021, tabled bypass ventilation systems for corporates and homeowners. They have a huge range of variants for use according to user’s compatibility.
- Systemair, in August 2021, did come up with an altogether newer generation of AHU filters for neutralising viruses.
- Bryant, in April 2021, did announce putting forth IoT-based “New Bryant Home App” with features as well as advantages for remote access as well.
- Venmar, in October 2020, came up with VIRTUO smart air exchanger. It comes across as the first air exchanger embedded with AI-based technology.
- Zehnder America, in September 2020, did announce launching fresh air energy recovery ventilation system to cater to the residential buildings.
Key Segments of Heat Recovery Ventilator Industry Research
- By Mounting:
- Wall-Mounted Heat Recovery Ventilators
- Ceiling-Mounted Heat Recovery Ventilators
- Cabinet-Mounted Heat Recovery Ventilators
- By Venting:
- Horizontal Heat Recovery Ventilators
- Vertical Heat Recovery Ventilators
- By Control:
- Automatic Heat Recovery Ventilators
- Manual Heat Recovery Ventilators
- By Air Flow:
- Below 100 cfm Heat Recovery Ventilators
- 100-150 cfm Heat Recovery Ventilators
- 150-200 cfm Heat Recovery Ventilators
- 200-250 cfm Heat Recovery Ventilators
- Above 250 cfm Heat Recovery Ventilators
- By Heat Exchanger Type:
- Cross Flow Plates
- Counterflow Plate Heat Plates
- Rotating Heat Exchangers
- By End Use:
- Residential Heat Recovery Ventilators
- Commercial Heat Recovery Ventilators
- Industrial Heat Recovery Ventilators
- By Region:
- North America Heat Recovery Ventilator Market
- Latin America Heat Recovery Ventilator Market
- Europe Heat Recovery Ventilator Market
- East Asia Heat Recovery Ventilator Market
- South Asia & Oceania Heat Recovery Ventilator Market
- Middle East & Africa Heat Recovery Ventilator Market
Key Questions covered in the Heat recovery ventilator Market Report
- What is the global Heat recovery ventilator Market scenario?
- How far is the global demand expected to reach over the forecasted period?
- What was the last 5-year CAGR for the demand in the demand in the Heat recovery ventilator Market?
- Who are the prominent players in the global Heat recovery ventilator Market?
- Which is the most leading region in the Heat recovery ventilator Market?
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More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global heat recovery ventilator market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by mounting (wall-mounted, ceiling-mounted, and cabinet-mounted), by venting (horizontal and vertical), by control (automatic and manual), by air flow (below 100 cfm, 100-150 cfm, 150-200 cfm, 200-250 cfm, and above 250 cfm), by type of heat exchanger (cross flow plates, counterflow plate heat plates, and rotating heat exchangers), by end-use (residential, commercial, and industrial), and by region (North America, LATAM, Europe, East Asia, South Asia & Oceania, and MEA).
Fact.MR’s Domain Knowledge in Industrial Goods
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the industrial goods division across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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