The energy recovery ventilator core market is projected to grow from USD 947 million in 2022 to USD 1,360 million by 2027, at a CAGR of 7.5% from 2022 to 2027. The growth of the market is driven by the increasing demand for good ventilation system in residential and commercial projects, the rising need for good indoor air quality and meeting the energy efficient standards.
North America is projected to be the fastest-growing market for energy recovery ventilator core market during the forecast period. Rising technological sophistication, technology adaptation, and increasing demand in the region for efficient ventilation systems are expected to drive the growth of the energy recovery ventilator core market in North America. Also, growth in construction activities and the renovation of residential and commercial buildings, along with various industrial projects are among the major factors influencing the growth of the energy recovery ventilator core in North America.
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Companies such as CORE, Inc. (Germany), Greenheck Fan Corporation (US), Ruskin (US), Beijing Holtop Air Conditioning Co., Ltd (China), Hoval (Liechtenstein) fall under the winners’ category. These are leading players in the energy recovery ventilator core market, globally. These players have adopted the strategies of new product launch, partnership, agreement, and acquisition to fulfil the rising demand for energy recovery ventilator core on the regional as well as global levels.
In March 2022, Greenheck Fan Corporation has introduced its new residential ERVs for multifamily buildings. The company has introduced these four models with a variety of options and accessories.
In December 2021, Greenheck Fan Corporation has completed the acquisition of Metal Industries. This acquisition may help to expand product portfolio of Greenheck Fan Corporation in air terminal units, diffusers, and other products.
In March 2021, Innergy Tech, Inc has launched new product 132-inch diameter energy recovery wheel named as i4 Energy Recovery Wheel which has patented sealing technology and can be used for new air handling units as well as field installed retrofit or mechanical room installations.
In February 2021, Recuperator has developed E-Fit series heat exchanger which has characteries such as hexagonal shape, highly efficient vortex generation.
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