Energy Recovery Ventilator Market Share

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.