The energy recovery ventilator market size is projected to reach US$ 8,128.52 million by 2031 from US$ 4,698.86 million in 2024. The market is expected to register a CAGR of 8.1% during 2023–2031. The growing sustainability awareness across the globe is likely to bring new key trends in the market in the coming years.
People in America spend ~90% of their time indoors, so finding the right ventilation strategy is critical to achieving a safe and healthy indoor environment. As buildings become more airtight, compact, and energy-efficient, they retain indoor air pollutants, leading to poor indoor air quality (IAQ). Typical pollutants include VOCs released from cooking, cleaning, upholstery, furniture, and painting, as well as moisture from showering, cooking, and breathing. Adverse effects of poor air quality or poor ventilation include health problems, the spread of airborne diseases, and low productivity. Thus, the rise in awareness toward maintaining good air quality in residential, commercial, and industrial areas is projected to propel the energy recovery ventilator market from 2025 to 2031.
The awareness for improving indoor air quality is rising, supported by government regulations and standards. Moreover, the demand for energy recovery ventilators is growing in corporate buildings, fueling the market growth. However, installation complexity and frequent maintenance requirements are expected to hinder the growth of the energy recovery ventilator market. Moreover, technological developments in energy recovery ventilators are projected to create opportunities for companies operating in the market in the coming years. Further, the role of energy recovery ventilators in achieving sustainability goals is expected to be the key future trend in the energy recovery ventilator market during 2025–2031.
Ventilation helps in reducing the transmission of airborne diseases in indoor spaces. An energy recovery ventilator (ERV) is a passive energy recovery device used to minimize the energy consumption of heating, ventilation, and air conditioning systems. It preconditions ventilation air by transferring energy from the building's exhaust air. Therefore, ventilation and exhaust air streams interact directly or indirectly in the ERV for energy transfer. Key end users of energy recovery ventilators contributing toward the market growth across the globe include residential & commercial buildings and industries such as energy & utilities, data centers, retail, hospitality, and industrial facilities (beyond manufacturing). There is increasing demand for efficient, customized HVAC systems for various industries, such as circuit board manufacturing, mining, food and beverage, pharmaceutical, and cleanroom systems. Several industrial and production buildings have high emissions levels. Production processes require frequent removal of excess heat or pollutants from indoor air using a local or general exhaust system. Therefore, manufacturing facilities are focusing on using energy recovery fans to meet ventilation and energy standards while improving indoor air quality and minimizing overall HVAC equipment capacity. In addition, the recovery in manufacturing value added at the global level entails significant capital investments.
Indoor air quality has a huge impact on their comfort and health, whether at home or the workplace. Insufficient ventilation can make a room stuffy and uncomfortable. Exposure to indoor pollutants such as radon, mold, pressed wood products (which may contain formaldehyde), secondhand smoke, and other materials can lead to health problems such as lung cancer and asthma. Poor indoor air quality (IAQ) negatively impacts the cognitive function, health, and well-being of indoor occupants. The Environmental Protection Agency (EPA) states that worker productivity in the workspace can be improved by 5–6% when air quality levels are rated good. Balanced and increased ventilation optimizes indoor air quality using an energy recovery ventilator.
As applications for energy recovery ventilators increase across different sectors, market players are significantly focusing on developing new products as well as upgrading their existing product lines to meet the needs of their customers. For instance, in February 2024, Panasonic Corporation launched the WhisperComfort 60 energy recovery ventilator. This new energy recovery ventilator is home ventilating institute (HVI) certified and will provide customers with better, energy efficient, and cost-effective house ventilation. In addition, Panasonic Corporation teamed up with ARISTA Homes (homebuilder in North America) to provide residential with WhisperAir RepairR spot purifiers or the Intelli-Balance energy recovery ventilator. Moreover, in July 2020, LG Electronics (LG) introduced an expanded line of Puricare air care solutions. The new solutions provide much-needed relief for poor indoor air environments produced by industrial pollution or local weather phenomena such as sandstorms and dust.
Key segments that contributed to the derivation of the energy recovery ventilator market analysis are technology type, mounting type, and end user.
The geographic scope of the Energy Recovery Ventilator market report offers a detailed global analysis. North America, Europe, and Asia Pacific are major regions witnessing significant growth in the energy recovery ventilator market.
North America dominated the energy recovery ventilator market in 2024. Europe is the second-largest contributor to the global energy recovery ventilator market, followed by Asia Pacific. North America is witnessing tremendous growth in the market due to the presence of key players focused on the advancement and adoption of energy recovery ventilators in various industries and real estate sectors. In addition, the presence of the key/manufacturing economies, including the US, Canada, and Mexico, fuels the demand for energy recovery ventilators. The US is the second largest manufacturing powerhouse after China. It accounted for ~16% of the total manufacturing output in the world in 2023. In addition, Canada and Mexico are contributing toward the energy recovery ventilator market growth in North America, with the rise in investment for establishing manufacturing bases. Moreover, the strong focus on research and development, automation, and digitalization is fueling the demand for ventilation solutions in the US.
Europe holds a significant share in the energy recovery ventilator market. The region is known for its well-established manufacturing facilities, including automotive, aerospace, machinery, and construction. These industries rely heavily on energy in manufacturing operations thereby driving the need for ventilation systems for achieving high precision and efficiency in their operations and production. Germany is a major market within Europe, known for its technologically advanced engineering and manufacturing capabilities. Moreover, the residential and commercial real estate sector is growing rapidly in the region.
China dominates the energy recovery ventilator market in Asia Pacific. The presence of manufacturing industries such as automotive, aerospace, defense, and residential & commercial sector growth fuels the demand for energy recovery ventilators in the region. These industries require HVAC systems and chillers in manufacturing operations, which results in higher energy consumption and increased carbon dioxide emissions. Middle East Africa and South America also contributed to the energy recovery ventilator market growth owing to the rise in investment in industrialization, growing urbanization, investment in commercial projects, and an increase in manufacturing bases in the regions.
The regional trends and factors influencing the Energy Recovery Ventilator Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Energy Recovery Ventilator Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 4,698.86 Million |
| Market Size by 2031 | US$ 8,128.52 Million |
| Global CAGR (2023 - 2031) | 8.1% |
| Historical Data | 2021-2023 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Technology Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Energy Recovery Ventilator Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Energy Recovery Ventilator Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The energy recovery ventilator market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Energy Recovery Ventilator market are listed below:
The "Energy Recovery Ventilator Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
The energy recovery ventilator market was valued at US$ 4,698.86 million in 2024 and is projected to reach US$ 8,128.52 million by 2031; it is expected to register a CAGR of 8.1% during 2025–2031.
Growing Focus on Improving Indoor Air Quality; Increasing Government Regulations and Standards; Rising Demand for Energy Recovery Ventilators in Corporate Buildings
Role of Energy Recovery Ventilator in Achieving Sustainability Goals
The key companies operating in the energy recovery ventilator market include Daikin Industries Ltd; Greenheck Fan Corp; Munters Group AB; Nortek Air Solutions, LLC; Fujitsu General Ltd.; LG Electronics Inc.; Johnson Controls International Plc; Carrier Global Corp; and Panasonic Holdings Corp; Mistubishi.
The plate heat exchanger segment led the energy recovery ventilator market with a significant share in 2024.
The energy recovery ventilator market is expected to reach US$ 8,128.52 million by 2031.
North America is anticipated to have largest share in energy recovery ventilator market.