The Heat Recovery Ventilators (HRV) Market is being driven by Growing concerns toward improving IAQ in residential and commercial buildings
The Heat Recovery Ventilators (HRV) Market is expected to grow at a CAGR of 9.72% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2227.58 million. The global Heat Recovery Ventilator (HRV) market is witnessing a notable trend towards the adoption of smart and IoT-connected HRV systems. These advanced systems enable real-time monitoring and data sharing, empowering end-users to effectively manage their HRV systems. IoT integration enhances the capabilities of HRVs by providing predictive maintenance features, enabling manufacturers to proactively address potential issues and minimize downtime for their geographically dispersed devices.
Get more information on Heat Recovery Ventilators (HRV) Market by requesting a sample report
Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Automatic heat recovery ventilator, Manual heat recovery ventilator) Application (Non-residential, Residential) Geography (APAC, North America, Europe, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
Rich Experience: 20+ years leading global market research, trusted insights across industries.
Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.
Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.
Key Features in Heat Recovery Ventilators (HRV) Market Research Report
Find out which segment is leading the market by accessing the free PDF report
The Heat Recovery Ventilator (HRV) market encompasses various industries, including automotive, aerospace, machinery manufacturing, and HVAC. With growing concerns over global warming, HRVs are increasingly being adopted in construction and green buildings. These systems improve Indoor Air Quality (IAQ) by exchanging stale air with fresh air while reducing energy consumption and carbon footprint. HVAC companies offer Energy Recovery Ventilator (ERV) air exchangers, such as exhaust fans, Wallmount ERVs, and Cabinet HRVs, which use technologies like RunAround Coils, Plate Heat Exchangers, and Rotary Heat Exchangers. These systems are essential for residential, industrial, and commercial applications, particularly in green building projects and retrofitting existing structures to address Air pollutants, Sick Building Syndrome, and maintain optimal IAQ.
The Heat Recovery Ventilators (HRV) market is a significant segment of the expansive Global Industrial Machinery, Supplies and Component Market, according to Technavio's market research. This market encompasses organizations involved in the production of industrial machinery and components, including presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. The Global Industrial Machinery, Supplies and Component Market's size is determined by the consolidated revenue generated by manufacturers of machinery and components utilized in industrial settings. Key growth drivers for this market include the increasing industrial output leading to capacity expansions in process and discrete industries, such as automotive, aerospace, machinery manufacturing, HVAC, and construction, which are witnessing significant growth due to global warming and the trend towards green buildings. The demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages continues to surge in developing countries, fueling this market's expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
