The global energy recovery ventilator core market is poised to reach a valuation of USD 1.1 billion by 2024, driven by partnerships with energy service companies. This trend is set to unlock new avenues for market growth, with a projected CAGR of 8.1% between 2024 and 2034, culminating in a total valuation of around USD 2.5 billion by 2034.
The increasing frequency and severity of extreme weather events attributed 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 amid temperature fluctuations and adverse weather conditions.
The growing focus on achieving net zero energy consumption in buildings is accelerating the adoption of energy-efficient technologies such as energy recovery ventilators. These systems not only reduce overall energy consumption but also contribute to sustainable building performance and energy neutrality goals.
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Building owners and operators are increasingly 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 (LEED) and Building Research Establishment Environmental Assessment Method (BREEAM) 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.
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“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,” – remarks an FMI analyst.
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).
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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