Global Heat Recovery Ventilator Market to be worth US$ 7.7 Billion by 2032, Fact.MR Report

NEW YORK, Feb. 24, 2022 /PRNewswire/ -- The global heat recovery ventilator market is expected to be worth US$ 3.7 billion in 2022 and US$ 7.7 billion by the end of 2032, growing at a 7.4% CAGR between 2022 and 2032.

According to Fact.MR's most recent analysis, heat recovery ventilators accounted for 6– 8% of total sales, with this figure expected to rise to 10–12% by 2032. This is due to the increasing use of heat recovery ventilators in end-use industries such as automotive, aerospace, and machinery manufacturing.

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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Given the current rate of climate change and the increase in the number of green buildings, as well as other supporting factors, demand for heat recovery ventilation systems is expected to skyrocket.

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.

Key Takeaways:

• The global heat recovery ventilator (HRV) market has been positioned as a moderate growth, high dollar opportunity market, with a US$4.2 billion absolute dollar opportunity.
• By mounting type, wall mount and ceiling mount ventilators to account for 35% revenue share
• North America is expected to provide an abundance of opportunities for heat recovery ventilators. In 2021, the United States alone accounted for 40.5% of the global heat recovery ventilator (HRV) market.
• Europe is expected to be a lucrative market, contributing significantly to the market's growth curve over the next decade. During the forecast period, Italy is expected to generate an absolute $ opportunity of US$ 630 Mn.
• Horizontal heat recovery ventilators are expected to account for an absolute dollar opportunity of US$ 3.6 Bn in the venting market between 2022 and 2032.

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.

Key Restraints:

• Improper placement of such systems can reduce outdoor air intakes and cause airflow obstruction, resulting in the intake of contaminated air. As a result, the cost of product maintenance rises further because these ducts must be sealed and insulated from outside dirt and dust.

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Competitive Landscape:

The various leading players in the HRV market are focusing on offering various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations, and partnerships.

• In Oct 2021, Mitsubishi announced Integrated Building Systems to build a subsidiary via a company split. Building systems, being one of the growth areas, would help the realization of a decarbonized society through HRVs and ERVs.
• In Sep 2021, Mitsubishi electric launched bypass ventilation systems for homeowners and corporates, which have a high range of variants that can be used as per user compatibility.
• In August 2021, Systemair launched a new generation of AHU air filters capable of neutralizing viruses.

Key Companies Profiled by Fact.MR

• Panasonic Corporation
• Mitsubishi Electric
• Fujitsu General
• Johnson Controls
• Honeywell International Inc
• Daikin Industries, Ltd
• LG Electronics

More valuable Insights on Heat Recovery Ventilator Market

Fact.MR, in its report, offers a market analysis of the global heat recovery ventilator market analysing forecast period through 2022 and beyond. This survey reveals the growth of technology in the heat recovery ventilator market with detailed segmentation as follows: -

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

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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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