Energy recovery ventilator market size was over USD 4.66 billion in 2024 and is likely to exceed USD 12.33 billion by the end of 2037, witnessing over 7.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of energy recovery ventilator is evaluated at USD 4.95 billion. The growth of this market can be attributed to the rising trend of green building construction globally. The trend of constructing green buildings is rising owing to environmental conditions, strict government regulations, standards of energy consumption, and a rise in hazardous emissions. The building manufacturers now are focusing on constructing green buildings in order to get more profit from the income generated from the property business. Therefore, with the rise in the deployment of ventilators the market of energy ventilators is expected to grow more in the upcoming years. Anyhow, the key suppliers align their products in line with green building certifications, Thus, the rise in the construction of the green building is expected to drive the industry growth. The green building consumes 40-50% less energy and 10-20% less water.
On the other hand, the maintenance of air quality has become a major concern nowadays. Deficient indoor air quality poses an adverse impact on the health, productivity, cognitive function, and well-being of people. The ability of energy recovery ventilator to replace stale indoor air with fresh outdoor air, its ability to remove all the pollutant particles from the environment, optimize energy efficiently, minimizes carbon footprints and others are factors driving the growth of this market in the forecast period. In 2020, globally around 3.2 million people died out of bad indoor air quality.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
7.7% |
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Base Year Market Size (2024) |
USD 4.66 billion |
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Forecast Year Market Size(2037) |
USD 12.33 billion |
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Regional Scope |
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Application (Commercial, Residential)
The global energy recovery ventilator market is segmented and analyzed for demand and supply by application into commercial, residential, and others. Out of these, the commercial segment is anticipated to hold the largest market share in the forecast period. Energy recovery ventilators are widely used in commercial buildings such as hospitals, schools, offices, restaurants, commercial kitchens, and other commercial areas. Also, there are more and more "green" buildings, and various government laws to reduce energy use in buildings are being created and strictly enforced. Moreover, the market for energy recovery ventilators for commercial utilization is expanding owing to the increased demand for these devices globally. For instance, 17.2% of green building in the United States belongs to the commercial department.
Type (Plate Heat Exchanger, Heat Pipe Heat Exchanger, Rotary Heat Exchanger)
The market is segmented and analyzed for demand and supply by type into ceiling mount, wall mount, and cabinet. Amongst these, the ceiling mount segment is anticipated to account for the highest market share in the forecast period. Ceiling mount energy recovery ventilators are still high in demand owing to their wiring and ducting over the walls and to reduce the installation cost and invasiveness. The ceiling mount type energy recovery ventilator is high in demand for commercial and residential areas as it lowers the consumption of central spaces and creates afresh indoor air quality.
Our in-depth analysis of the global market includes the following segments:
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By Technology Type
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By Application |
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By Type |
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APAC Market Statistics
The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period. This can be ascribed on the back of the escalating living standards in countries namely China, India, and South Korea, and the increasing modernization of residential and commercial building stocks in the region. In addition, robust growth of the real estate sector is also projected to boost the region’s market growth in the coming years. According to the International Finance Corporation, East and Pacific Asia accounts for the most significant share of the real estate industry as of now. The rising demand for energy recovery ventilators, the growing population, and the rising disposable income are some of the major factors fueling the market's expansion. Also, the growth in the area would have an even greater impact on people's rising living standards. The upgrading of homes and businesses in developing nations will support the region's substantial market expansion.
North American Market Forecast
On the other hand, the market in North America is assessed to grab the largest share during the forecast period. This can be ascribed to the rise in residential fixed investments and intensifying need for installing energy recovery ventilators resulting from the presence of harsh climatic conditions in the region. Residential and commercial buildings in North American regions consume large amounts of energy for heating and cooling purposes. The United States and Canada have cooler climates as compared to other parts of the world. Thus, there is a need for equipment that can heat and humidify the climate in this region. Also, there are significant government investments to boost the economy through federal tax credit initiatives, growing concerns about greenhouse gas emissions, and extremely positive economic development in the United States.
Europe Market Forecast
The market in the Europe region is anticipated to account for a significant market share by the end of 2037. The market is driven by factors such as increasing awareness of the importance of indoor air quality and energy efficiency, and government efforts to promote sustainable building practices. Increased demand for energy-efficient HVAC systems in residential and commercial buildings is expected to drive further market growth in the coming years. Moreover, technological advancements and the development of intelligent ventilation systems are expected to further drive the growth of the energy recovery ventilator market in the coming years.
Author Credits: Dhruv Bhatia
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