Energy Recovery Ventilator Market Trends, Players and Forecast 2031

The Energy Recovery Ventilator Market size is projected to reach US$ 5.67 billion by 2031 from US$ 3.95 billion in 2023. The market is expected to register a CAGR of 4.6% in 2023–2031. The energy recovery ventilators are primarily designed as energy efficient & cost effective in standard mechanical ventilation systems as they filter outside air that lowers the pressure on HVAC units and reduces the conventional HVAC capacity. The booming concern and urge to minimize HVAC energy consumption and increase energy efficiency in residential and commercial buildings is propelling the demand for energy recovery ventilators at the global level. Additionally, the rising demand for competent solutions to improve indoor air quality is fostering the adoption of these systems. However, a lack of consumer awareness about the potential benefits of energy recovery ventilators and supplementary installation & maintenance expenditures may act as impeding factors for the growth of the market.

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