Europe Residential Heat & Energy Recovery Ventilator Market Expected to Reach USD 1,334.1 Million by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Europe Residential Heat & Energy Recovery Ventilator Market by Technology Types, Axis Types, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 897.2 Million in 2019 and is expected to grow at a growth rate of 6.3% by the year 2027.

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The Europe Residential Heat & Energy Recovery Ventilator market is anticipated to grow owing to the rise in the adoption of residential heat and energy ventilators. The demand for heat recovery ventilators (HRVs) and energy recovery ventilators (ERVs) is high, as they enhance indoor air quality, decrease heating costs, maintain existing heat, and improve indoor air moisture content. These mechanical systems use fans to maintain a balanced airflow in the house, while exhausting stale indoor air. Demand for HRV/ERV is rising in a residential setup. In the winters these HRVs/ERVs ventilate and warm the homes, thus reducing the need for air conditioning in the summers. Rise in the number of green buildings, formulations and stringent implementation of various government regulations to reduce energy consumption in buildings, and increased demand for highly efficient energy recovery ventilators are also contributing to the growth of the commercial application segment of the market. The rising disposable income has also led to the rise in the adoption of the ventilator for the purification of air in homes, which are some of the factors, which contributes for the demand for residential heat and energy recovery ventilators market.

The Europe Residential Heat & Energy Recovery Ventilator market is fragmented based on technology types, axis types, and region. Based on technology types, the Europe residential heat & energy recovery ventilator market is segmented into plate heat exchanger, rotary heat exchanger, and others. In terms of axis types, the Europe residential heat & energy recovery ventilator market is segmented into horizontal and vertical. Based on region, the Europe residential heat & energy recovery ventilator market is segmented into countries such as Germany, France, Italy, U.K., Denmark, Norway, Sweden, Finland, Iceland, Spain, Russia, Rest of Europe.

The effect of COVID-19 pandemic is diminishing production activities across construction industries in Europe and hence the demand for Residential Heat & Energy Recovery Ventilator slowed down throughout the pandemic. As construction and building maintenance activities either stopped completely or have been halted in some cases. The global supply chain has at the same time slowed down due to restrictions on national borders. Regarding the Residential Heat & Energy Recovery Ventilator market as production has slowed down as only half the workforce is working. Although the demand and supply pattern of the market is expected to return to normal growth pattern post COVID.

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As per GMR industry analyst Vidya Jadhav, “The Europe Residential Heat & Energy Recovery Ventilator market is anticipated to witness significant growth during forecast period 2021-2027 driven by the rising demand for fresh air and the need to reduce pollutants are driving factors for the Europe residential heat and energy recovery ventilators market. Additionally, there has been an increase in the energy housing projects, which has led to the rise in the adoption of the residential heat and energy recovery ventilators.”

Key Takeaways from the Study:

• Germany accounts for a significant share of the market, followed by Rest of Europe. The market in Iceland is projected to expand at significant CAGR during the forecast period.
• In terms of value, the rotary heat exchanger segment is projected to increase at a substantial CAGR during the forecast timeline. The rotary heat exchangers are used in the several construction activities, thus, contributes to the segmental growth.

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Report Scope:

Target Audience:

• Supply-side: Europe residential heat & energy recovery ventilator manufacturers, raw material suppliers, primary respondents, and distributors.
• Demand Side: Residential buildings, houses, commercial buildings, offices, etc.
• Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
• Associations and Industry Bodies: International Organization for Standardization, United States Environmental Protection Agency, European Commission, European Committee for standardization, European Ventilation Industry Association.

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