Energy Recovery Ventilator Core Market worth $1,360 million by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, June 9, 2022 /PRNewswire/ -- According to the new market research report "Energy Recovery Ventilator Core Market by Material Type (Engineered Resin, Fibrous Paper), Shape (Square, Diamond, Hexagon, Wheel), Flow Type (Counter-flow and Crossflow) and Region - Global Forecast to 2027", published by MarketsandMarkets™, the global 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. Major factors driving the growth of the energy recovery ventilator cores include increased attention on indoor air quality due to climate changes. Rising global temperatures also play a major part in the demand for recovery ventilator core. Also, increasing commercial and residential construction activities in developing countries such as China, India, Australia, and others are expected to provide a significant opportunity for growth of the market.
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By Material, the engineered resins segment is estimated to be the fastest-growing segment of energy recovery ventilator core market during 2022 to 2027.
The engineered resins segment, by material of energy recovery ventilator core market is projected to be the fastest-growing segment during forecast period. Engineered resins provides higher durability in wet and freezing conditions, and are less susceptible to degradation by mold and bacteria, which is the primary reason for growth of this segment.
By flow type, the counter flow segment is estimated to be the fastest-growing segment of energy recovery ventilator core market during 2022 to 2027.
The counter flow, by flow type segment of energy recovery ventilator core market is projected to be the fastest-growing segment during forecast period. The growth in this segment is due increasing residential construction activities in developing countries such as India, China and Australia as counter-flow ERV cores are generally used in ventilation and air-conditioning systems and are particularly suitable for controlled airflow of residential buildings.
By shape, the hexagon segment is estimated to be the fastest-growing segment of energy recovery ventilator core market during 2022 to 2027.
The hexagon, by shape segment of energy recovery ventilator core market is projected to be the fastest-growing segment during forecast period. The growth in this segment is because hexagonal shaped energy recovery ventilator cores provides better energy recovery compared to other shapes due to the increased heat and mass transfer surface area resulting from the elongation of one side of the core.
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North America is estimated to be the fastest-growing region in the energy recovery ventilator core market during the forecast period
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.
CORE, Inc. (Germany), Greenheck Fan Corporation (US), Ruskin (US), Beijing Holtop Air Conditioning Co., Ltd (China), Hoval (Liechtenstein), Innergy Tech, Inc (Canada), Xiamen AIR-ERV Technology Co., Ltd (China), Oji Container Co. Ltd (Japan), Dais Corporation (US), Klingenburg USA, LLC (Germany), Karyer Group (Turkey), Recuperator (Turkey), Teasung Co Ltd (South Korea), ERI Corporation (Italy), RenewAire (Italy) are the key players in energy recovery ventilator core market.
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