Product Code: IRTNTR76790
Abstract
The heat recovery ventilators (HRV) market is forecasted to grow by USD 2227.58 mn during 2023-2028, accelerating at a CAGR of 9.72% during the forecast period. The report on the heat recovery ventilators (HRV) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing concerns toward improving IAQ in residential and commercial buildings, high application of HRV systems, and increasing construction activities.
Market Scope |
Base Year | 2023 |
End Year | 2028 |
Series Year | 2024-2028 |
Growth Momentum | Accelerate |
YOY 2024 | 8.78% |
CAGR | 9.72% |
Incremental Value | $2227.58mn |
Technavio's heat recovery ventilators (HRV) market is segmented as below:
By Type
- Automatic heat recovery ventilator
- Manual heat recovery ventilator
By Application
- Non-residential
- Residential
By Geographical Landscape
- APAC
- North America
- Europe
- Middle East and Africa
- South America
This study identifies the emerging smart and connected HRV as one of the prime reasons driving the heat recovery ventilators (HRV) market growth during the next few years. Also, growing preference for customized HRV systems and shift toward energy-efficient buildings/green buildings will lead to sizable demand in the market.
The report on the heat recovery ventilators (HRV) market covers the following areas:
- Heat recovery ventilators (HRV) market sizing
- Heat recovery ventilators (HRV) market forecast
- Heat recovery ventilators (HRV) market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading heat recovery ventilators (HRV) market vendors that include Aldes Ventilation Corp., Astberg Ventilation Pvt. Ltd., BLAUBERG GROUP AG, Broan NuTone LLC, Canarm Ltd., Carrier Global Corp., Daikin Industries Ltd., ELIM Electronics Inc., Elta Group, EnviroVent Ltd., Field Controls LLC, Fujitsu General Ltd., Honeywell International Inc., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., Mitsubishi Electric Corp., Panasonic Holdings Corp., Trane Technologies plc, and Zehnder Group AG. Also, the heat recovery ventilators (HRV) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary - Chart on Market Overview
- Exhibit 02: Executive Summary - Data Table on Market Overview
- Exhibit 03: Executive Summary - Chart on Global Market Characteristics
- Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
- Exhibit 05: Executive Summary - Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary - Chart on Market Segmentation by Application
- Exhibit 07: Executive Summary - Chart on Incremental Growth
- Exhibit 08: Executive Summary - Data Table on Incremental Growth
- Exhibit 09: Executive Summary - Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2023
- 3.4 Market outlook: Forecast for 2023-2028
- Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
- 4.1 Global heat recovery ventilator (HRV) market 2018 - 2022
- Exhibit 18: Historic Market Size - Data Table on global heat recovery ventilator (hrv) market 2018 - 2022 ($ million)
- 4.2 Type Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size - Type Segment 2018 - 2022 ($ million)
- 4.3 Application Segment Analysis 2018 - 2022
- Exhibit 20: Historic Market Size - Application Segment 2018 - 2022 ($ million)
- 4.4 Geography Segment Analysis 2018 - 2022
- Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ million)
- 4.5 Country Segment Analysis 2018 - 2022
- Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Type
- 6.1 Market segments
- Exhibit 30: Chart on Type - Market share 2023-2028 (%)
- Exhibit 31: Data Table on Type - Market share 2023-2028 (%)
- 6.2 Comparison by Type
- Exhibit 32: Chart on Comparison by Type
- Exhibit 33: Data Table on Comparison by Type
- 6.3 Automatic heat recovery ventilator - Market size and forecast 2023-2028
- Exhibit 34: Chart on Automatic heat recovery ventilator - Market size and forecast 2023-2028 ($ million)
- Exhibit 35: Data Table on Automatic heat recovery ventilator - Market size and forecast 2023-2028 ($ million)
- Exhibit 36: Chart on Automatic heat recovery ventilator - Year-over-year growth 2023-2028 (%)
- Exhibit 37: Data Table on Automatic heat recovery ventilator - Year-over-year growth 2023-2028 (%)
- 6.4 Manual heat recovery ventilator - Market size and forecast 2023-2028
- Exhibit 38: Chart on Manual heat recovery ventilator - Market size and forecast 2023-2028 ($ million)
- Exhibit 39: Data Table on Manual heat recovery ventilator - Market size and forecast 2023-2028 ($ million)
- Exhibit 40: Chart on Manual heat recovery ventilator - Year-over-year growth 2023-2028 (%)
- Exhibit 41: Data Table on Manual heat recovery ventilator - Year-over-year growth 2023-2028 (%)
- 6.5 Market opportunity by Type
- Exhibit 42: Market opportunity by Type ($ million)
- Exhibit 43: Data Table on Market opportunity by Type ($ million)
7 Market Segmentation by Application
- 7.1 Market segments
- Exhibit 44: Chart on Application - Market share 2023-2028 (%)
- Exhibit 45: Data Table on Application - Market share 2023-2028 (%)
- 7.2 Comparison by Application
- Exhibit 46: Chart on Comparison by Application
- Exhibit 47: Data Table on Comparison by Application
- 7.3 Non-residential - Market size and forecast 2023-2028
- Exhibit 48: Chart on Non-residential - Market size and forecast 2023-2028 ($ million)
- Exhibit 49: Data Table on Non-residential - Market size and forecast 2023-2028 ($ million)
- Exhibit 50: Chart on Non-residential - Year-over-year growth 2023-2028 (%)
- Exhibit 51: Data Table on Non-residential - Year-over-year growth 2023-2028 (%)
- 7.4 Residential - Market size and forecast 2023-2028
- Exhibit 52: Chart on Residential - Market size and forecast 2023-2028 ($ million)
- Exhibit 53: Data Table on Residential - Market size and forecast 2023-2028 ($ million)
- Exhibit 54: Chart on Residential - Year-over-year growth 2023-2028 (%)
- Exhibit 55: Data Table on Residential - Year-over-year growth 2023-2028 (%)
- 7.5 Market opportunity by Application
- Exhibit 56: Market opportunity by Application ($ million)
- Exhibit 57: Data Table on Market opportunity by Application ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 59: Chart on Market share By Geographical Landscape 2023-2028 (%)
- Exhibit 60: Data Table on Market share By Geographical Landscape 2023-2028 (%)
- 9.2 Geographic comparison
- Exhibit 61: Chart on Geographic comparison
- Exhibit 62: Data Table on Geographic comparison
- 9.3 APAC - Market size and forecast 2023-2028
- Exhibit 63: Chart on APAC - Market size and forecast 2023-2028 ($ million)
- Exhibit 64: Data Table on APAC - Market size and forecast 2023-2028 ($ million)
- Exhibit 65: Chart on APAC - Year-over-year growth 2023-2028 (%)
- Exhibit 66: Data Table on APAC - Year-over-year growth 2023-2028 (%)
- 9.4 North America - Market size and forecast 2023-2028
- Exhibit 67: Chart on North America - Market size and forecast 2023-2028 ($ million)
- Exhibit 68: Data Table on North America - Market size and forecast 2023-2028 ($ million)
- Exhibit 69: Chart on North America - Year-over-year growth 2023-2028 (%)
- Exhibit 70: Data Table on North America - Year-over-year growth 2023-2028 (%)
- 9.5 Europe - Market size and forecast 2023-2028
- Exhibit 71: Chart on Europe - Market size and forecast 2023-2028 ($ million)
- Exhibit 72: Data Table on Europe - Market size and forecast 2023-2028 ($ million)
- Exhibit 73: Chart on Europe - Year-over-year growth 2023-2028 (%)
- Exhibit 74: Data Table on Europe - Year-over-year growth 2023-2028 (%)
- 9.6 Middle East and Africa - Market size and forecast 2023-2028
- Exhibit 75: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
- Exhibit 76: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
- Exhibit 77: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Exhibit 78: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- 9.7 South America - Market size and forecast 2023-2028
- Exhibit 79: Chart on South America - Market size and forecast 2023-2028 ($ million)
- Exhibit 80: Data Table on South America - Market size and forecast 2023-2028 ($ million)
- Exhibit 81: Chart on South America - Year-over-year growth 2023-2028 (%)
- Exhibit 82: Data Table on South America - Year-over-year growth 2023-2028 (%)
- 9.8 China - Market size and forecast 2023-2028
- Exhibit 83: Chart on China - Market size and forecast 2023-2028 ($ million)
- Exhibit 84: Data Table on China - Market size and forecast 2023-2028 ($ million)
- Exhibit 85: Chart on China - Year-over-year growth 2023-2028 (%)
- Exhibit 86: Data Table on China - Year-over-year growth 2023-2028 (%)
- 9.9 US - Market size and forecast 2023-2028
- Exhibit 87: Chart on US - Market size and forecast 2023-2028 ($ million)
- Exhibit 88: Data Table on US - Market size and forecast 2023-2028 ($ million)
- Exhibit 89: Chart on US - Year-over-year growth 2023-2028 (%)
- Exhibit 90: Data Table on US - Year-over-year growth 2023-2028 (%)
- 9.10 Japan - Market size and forecast 2023-2028
- Exhibit 91: Chart on Japan - Market size and forecast 2023-2028 ($ million)
- Exhibit 92: Data Table on Japan - Market size and forecast 2023-2028 ($ million)
- Exhibit 93: Chart on Japan - Year-over-year growth 2023-2028 (%)
- Exhibit 94: Data Table on Japan - Year-over-year growth 2023-2028 (%)
- 9.11 Germany - Market size and forecast 2023-2028
- Exhibit 95: Chart on Germany - Market size and forecast 2023-2028 ($ million)
- Exhibit 96: Data Table on Germany - Market size and forecast 2023-2028 ($ million)
- Exhibit 97: Chart on Germany - Year-over-year growth 2023-2028 (%)
- Exhibit 98: Data Table on Germany - Year-over-year growth 2023-2028 (%)
- 9.12 UK - Market size and forecast 2023-2028
- Exhibit 99: Chart on UK - Market size and forecast 2023-2028 ($ million)
- Exhibit 100: Data Table on UK - Market size and forecast 2023-2028 ($ million)
- Exhibit 101: Chart on UK - Year-over-year growth 2023-2028 (%)
- Exhibit 102: Data Table on UK - Year-over-year growth 2023-2028 (%)
- 9.13 Market opportunity By Geographical Landscape
- Exhibit 103: Market opportunity By Geographical Landscape ($ million)
- Exhibit 104: Data Tables on Market opportunity By Geographical Landscape ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 105: Impact of drivers and challenges in 2023 and 2028
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 107: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 108: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 109: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 110: Matrix on vendor position and classification
- 12.3 Astberg Ventilation Pvt. Ltd.
- Exhibit 111: Astberg Ventilation Pvt. Ltd. - Overview
- Exhibit 112: Astberg Ventilation Pvt. Ltd. - Product / Service
- Exhibit 113: Astberg Ventilation Pvt. Ltd. - Key offerings
- 12.4 Broan NuTone LLC
- Exhibit 114: Broan NuTone LLC - Overview
- Exhibit 115: Broan NuTone LLC - Product / Service
- Exhibit 116: Broan NuTone LLC - Key offerings
- 12.5 Canarm Ltd.
- Exhibit 117: Canarm Ltd. - Overview
- Exhibit 118: Canarm Ltd. - Product / Service
- Exhibit 119: Canarm Ltd. - Key offerings
- 12.6 Carrier Global Corp.
- Exhibit 120: Carrier Global Corp. - Overview
- Exhibit 121: Carrier Global Corp. - Business segments
- Exhibit 122: Carrier Global Corp. - Key news
- Exhibit 123: Carrier Global Corp. - Key offerings
- Exhibit 124: Carrier Global Corp. - Segment focus
- 12.7 Daikin Industries Ltd.
- Exhibit 125: Daikin Industries Ltd. - Overview
- Exhibit 126: Daikin Industries Ltd. - Business segments
- Exhibit 127: Daikin Industries Ltd. - Key news
- Exhibit 128: Daikin Industries Ltd. - Key offerings
- Exhibit 129: Daikin Industries Ltd. - Segment focus
- 12.8 ELIM Electronics Inc.
- Exhibit 130: ELIM Electronics Inc. - Overview
- Exhibit 131: ELIM Electronics Inc. - Product / Service
- Exhibit 132: ELIM Electronics Inc. - Key offerings
- 12.9 Field Controls LLC
- Exhibit 133: Field Controls LLC - Overview
- Exhibit 134: Field Controls LLC - Product / Service
- Exhibit 135: Field Controls LLC - Key offerings
- 12.10 Fujitsu General Ltd.
- Exhibit 136: Fujitsu General Ltd. - Overview
- Exhibit 137: Fujitsu General Ltd. - Product / Service
- Exhibit 138: Fujitsu General Ltd. - Key offerings
- 12.11 Honeywell International Inc.
- Exhibit 139: Honeywell International Inc. - Overview
- Exhibit 140: Honeywell International Inc. - Business segments
- Exhibit 141: Honeywell International Inc. - Key news
- Exhibit 142: Honeywell International Inc. - Key offerings
- Exhibit 143: Honeywell International Inc. - Segment focus
- 12.12 Johnson Controls International Plc
- Exhibit 144: Johnson Controls International Plc - Overview
- Exhibit 145: Johnson Controls International Plc - Business segments
- Exhibit 146: Johnson Controls International Plc - Key news
- Exhibit 147: Johnson Controls International Plc - Key offerings
- Exhibit 148: Johnson Controls International Plc - Segment focus
- 12.13 Lennox International Inc.
- Exhibit 149: Lennox International Inc. - Overview
- Exhibit 150: Lennox International Inc. - Business segments
- Exhibit 151: Lennox International Inc. - Key news
- Exhibit 152: Lennox International Inc. - Key offerings
- Exhibit 153: Lennox International Inc. - Segment focus
- 12.14 LG Electronics Inc.
- Exhibit 154: LG Electronics Inc. - Overview
- Exhibit 155: LG Electronics Inc. - Product / Service
- Exhibit 156: LG Electronics Inc. - Key offerings
- 12.15 Mitsubishi Electric Corp.
- Exhibit 157: Mitsubishi Electric Corp. - Overview
- Exhibit 158: Mitsubishi Electric Corp. - Business segments
- Exhibit 159: Mitsubishi Electric Corp. - Key news
- Exhibit 160: Mitsubishi Electric Corp. - Key offerings
- Exhibit 161: Mitsubishi Electric Corp. - Segment focus
- 12.16 Panasonic Holdings Corp.
- Exhibit 162: Panasonic Holdings Corp. - Overview
- Exhibit 163: Panasonic Holdings Corp. - Product / Service
- Exhibit 164: Panasonic Holdings Corp. - Key news
- Exhibit 165: Panasonic Holdings Corp. - Key offerings
- 12.17 Zehnder Group AG
- Exhibit 166: Zehnder Group AG - Overview
- Exhibit 167: Zehnder Group AG - Business segments
- Exhibit 168: Zehnder Group AG - Key offerings
- Exhibit 169: Zehnder Group AG - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 170: Inclusions checklist
- Exhibit 171: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 172: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 173: Research methodology
- Exhibit 174: Validation techniques employed for market sizing
- Exhibit 175: Information sources
- 13.5 List of abbreviations
- Exhibit 176: List of abbreviations