There is a growing need for the reduction of CO2 emissions owing to the increasing concerns for the environment and the increasingly stringent norms of the government. Several initiatives taken by different government bodies in the United States to reduce the dependence on the non-renewable source of energy have significantly posed an expensive challenge for the industries.
Moreover, ENERGY STAR labeling, implementation of building energy codes, and state & federal efficiency standards have significantly reduced the energy intensity in commercial and residential buildings. Such factors are raising the adoption of ERV systems, which is anticipated to drive the growth of the North America ERV market.
This report also studies the existing competitive scenario of some of the key players of the North America ERV market, which includes profiling of Carrier Global Corporation (NYSE: CARR), Mitsubishi Electric Corporation (TYO: 6503), Daikin Industries, Ltd. (TYO: 6367), Panasonic Corporation (TYO: 6752), Johnson Controls International plc (NYSE: JCI), Building Performance Equipment, Inc., Zehnder Group AG (SWX: ZEHN), S&P USA Ventilation Systems, LLC and Loren Cook Company
Research Nester has released a report titled “North America Energy Recovery Ventilators (ERV) Market –Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The North America ERV market is anticipated to gain a CAGR of 10.28% during the forecast period, i.e. 2020-2028 owing to the growing research and development in the field of energy recovery ventilation systems, growing trends of developing energy-efficient green building and the growing concerns for the degrading indoor air quality.
The market is expected to garner a value of USD 2198.9 million by the end of 2028 and further attain an incremental $ opportunity of USD 86.8 million in the year 2020 as compared to the previous year.The North America ERV market is additionally anticipated to attain an absolute $ opportunity of USD 1193.4 million by growing at 2.2x during the forecast period.
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The North America ERV market is segmented by products into plate heat exchangers, heat pipe heat exchangers, rotary heat exchangers, and run-around coil. Among these segments, the plate heat exchanger segment registered the largest market share of 42.77%in the year 2019and is further expected to grow by the largest CAGR of 11.15% during the forecast period. The segment, which reached a value of USD 392.9 million in the year 2019, is further expected to gain an absolute $ opportunity of USD 576.6 million by growing at 2.3x during the forecast period.
However, concerns for the lack of awareness for indoor air quality and its ill effects on health, the complex installation process of ERV systems and the high maintenance costs are anticipated to impact negatively the growth of the North America ERV market.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “North America Energy Recovery Ventilators (ERV) Market –Demand Analysis & Opportunity Outlook 2028”, analyses the overall worth American industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the north America ERVmarket in the near future.
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