Aug. 22, 2014: ERVs to Reach Nearly $3 Billion in Annual Revenue by 2020
Units Improve IAQ and Provide Energy Savings
BOULDER, Colo. — Energy recovery ventilators (ERVs), which use the exhaust air from a building to precondition incoming air, offer many advantages for both improving IAQ and reducing energy consumption, and are one of the fastest-growing segments for improved IAQ management in buildings, says Navigant Research. According to a report from the research firm, worldwide revenue from ERVs is forecast to grow from $1.6 billion in 2014 to $2.8 billion in 2020.
“Along with new standards and regulations, the heightened sensitivity to how the health and comfort of office workers affects productivity is driving increased acceptance of IAQ technologies in more buildings,” said Benjamin Freas, research analyst with Navigant Research. “ERVs are growing in popularity because they provide energy-saving benefits without sacrificing IAQ.”
Other IAQ technologies that are experiencing strong growth, according to the report, include carbon dioxide sensors, demand-controlled ventilation, dedicated outdoor air systems, and ultraviolet irradiation to eliminate microbes. Revenue for the overall IAQ market is projected to increase from $3.3 billion in 2014 to $5.6 billion in 2020, expanding at a compound annual growth rate (CAGR) of 8.8 percent over that period.
Publication date: 8/18/2014