Energy Recovery Ventilator Core Market worth $1.56 billion by 2030 - Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Nov. 12, 2024 /PRNewswire/ -- The report "Energy Recovery Ventilator Core Market by Material Type (Engineered Resin, Fibrous Paper, Aluminum, Stainless Steel), Shape (Square, Diamond, Hexagon, Wheel), Flow Type (Counter-flow and Crossflow) and Region - Global Forecast to 2030", is projected to grow from USD 1.01 billion in 2024 to USD 1.56 billion by 2030, at a CAGR of 7.4% during the forecast period. Major factors contributing to the growth of the energy recovery ventilator core market include a heightened focus on indoor air quality driven by climate change. The rise in global temperatures is also significantly boosting demand for recovery ventilator cores. Moreover, the boost in the construction of commercial and residential buildings in developing regions like China, India, and others is anticipated to create substantial growth opportunities for the market.
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The engineered resin segment is expected to account for the largest value share of the energy recovery ventilator core market by material type during the forecast period.
The engineered resin segment is estimated to have the largest market share by value by material type. Engineered resins have superior durability, especially in harsh environments such as wet and freezing, making them suitable for various climate zones. Long-term durability combined with consistent performance and resistance to mold, bacteria, and other forms of degradation prove essential growth factors for this segment. Engineered resins are highly efficient in transferring heat and moisture, enhancing overall energy recovery in HVAC systems.
By flow type, the crossflow segment is expected to account for the largest market share in terms of value during the forecast period.
Based on flow type, the crossflow segment is estimated to account for the largest share of the market during the forecast period. In crossflow ERV cores, exhaust air and supply air pass through separate channels, thus preventing air blending. This avoids the mixing of dirt, bacteria, and odors. The airflow design helps move heat well. Outside, cold air is warmed to near room temperature as it moves through various slats and channels. Thin metal panels, often aluminum, make very good crossflow cores and deliver thermal efficiency from 40% to 65%. These cores are very effective in large ventilation systems since they can remove large volumes of air. This makes them useful for houses, businesses, and factories- both for hospitals and gyms. They come in different sizes and designs, making them even more helpful for various project needs.
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By shape, the hexagon segment is expected to account for the largest market share during the forecast period in terms of value.
Based on shape, the hexagon segment is estimated to account for the largest share of the market during the forecast period, primarily because its designs can be utilized in both counter-flow and cross-flow configurations. Counter-flow hexagonal ERV cores offer higher temperature efficiency than crossflow designs, as the airflow passes through parallel aluminum plates in opposite directions. Using counter-flow hexagonal ERV cores ensures that the fresh air and exhaust air streams are separated so that heat and mass transfer may occur. This leads to heat transfer from the warmer side to the cooler side and water vapor from the moist side to the drier side, all leading to improved energy saving and environmental benefits. Hexagonal cores are generally made from robust materials, like engineered resins or ultra-thin fibrous papers, which afford excellent vapor permeability, breathability, and tear resistance while providing significant mold resistance, structural strength, and minimal air leakage.
North America will register the largest market share during the forecast period.
North America is estimated to lead the market during the forecast period. Growth in this region is mainly due to increased technology, higher adoption of advanced ventilation systems, and rising demands for energy-efficient solutions. An increase in construction activities, coupled with renovating residential and commercial properties and various industrial projects, further prompts the demand for ERV cores. Therefore, North America is a prime market due to better indoor air quality and energy efficiency.
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Some of the leading players in this market include CORE Energy Recovery Solutions (Germany), HOLTOP (China), Greenheck Fan Corporation (US), Ruskin (US), and Innergy Tech Inc. (Canada).
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