The energy recovery ventilator market is projected to grow from USD 1.97 Billion in 2017 to USD 3.37 Billion by 2022, at a CAGR of 11.4% from 2017 to 2022. The growing need to reduce energy consumption in residential and commercial buildings, increasing number of green buildings across the globe, and growing importance of indoor air quality are the key factors driving the growth of the energy recovery ventilator market. Mitsubishi Electric Corporation (Japan), Daikin (Japan), Panasonic Corporation (Japan), LG Electronics (South Korea), Johnson Controls (US), Munters (Sweden), FUJITSU GENERAL (Japan), Carrier Corporation (US), Nortek Air Solutions (US), and Greenheck Fan (US) are some of the leading players operating in the energy recovery ventilator market.
Based on technology type, the rotary heat exchanger segment of the energy recovery ventilator market is projected to grow at the highest CAGR from 2017 to 2022. Low initial costs as compared to other technology types, reasonable pressure drop, ease of maintenance, and compact size are some of the key factors fueling the growth of the rotary heat exchanger segment of the energy recovery ventilator market during the forecast period.
