An energy recovery ventilator (ERV) is a type of mechanical ventilation system that helps to improve indoor air quality by exchanging the air in a room with fresh air from outside while also recovering the energy from the exhaust air. The recovered energy is used to heat or cool the fresh air, which makes the ERV more efficient than a traditional ventilation system.
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Key Trends
There are several key trends in energy recovery ventilator technology. One is the development of more efficient heat exchangers. This is important because energy recovery ventilators rely on heat exchangers to transfer heat from the exhaust air to the incoming air. The more efficient the heat exchanger, the more energy that can be recovered.
Another key trend is the development of more compact energy recovery ventilators. This is important because compact energy recovery ventilators can be installed in a wide variety of locations, including homes and businesses.
Finally, another key trend is the development of energy recovery ventilators that can recover both heat and humidity. This is important because many areas have high humidity levels, which can lead to condensation and mold growth.
Key Drivers
The key drivers of energy recovery ventilator market are as follows:
1. Increasing awareness about the energy saving potential of energy recovery ventilators: Energy recovery ventilators are gaining popularity due to the awareness about the energy saving potential of these devices. Energy recovery ventilators help in reducing the energy consumption of HVAC systems by up to 30%.
2. Stringent government regulations: Stringent government regulations regarding the energy efficiency of buildings are one of the key drivers of the energy recovery ventilator market. Various countries have implemented energy efficiency standards and regulations which mandate the use of energy recovery ventilators in new and existing buildings.
3. Increasing focus on indoor air quality: There is an increasing focus on indoor air quality due to the health hazards associated with poor air quality. Energy recovery ventilators help in improving indoor air quality by exchanging the stale indoor air with fresh outdoor air.
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Market Segments
The Energy Recovery Ventilator Market is segmented by technology type, end-user, and region. By technology type, the market is divided into plate heat exchanger, heat pipe heat exchanger, rotary heat exchanger, and others. Based on end-user, it is bifurcated into residential, commercial, and industrial. Region-wise, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Energy Recovery Ventilator Market includes players such as Carrier Corporation, Daikin Industries, Ltd., Fujitsu General, Greenheck Fan Corporation, Johnson Controls International Plc., LG Electronics, Mitsubishi Electric Corporation, Munters, Nortek Air Solutions and Panasonic Corporation.
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