The Latin America Energy Recovery Ventilator Market was worth USD 0.32 billion in 2023 and is anticipated to reach a valuation of USD 1.03 billion by 2032 from USD 0.36 billion in 2024. It is predicted to register a CAGR of 14.06% during the forecast period 2024-2032.
Energy Recovery Ventilator is the energy recovery procedure of exchanging energy in a normally exhausted building and utilizing it to treat the incoming air flow air in residential and commercial HVAC structures. In warmer seasons, the machine pre-cools and dehumidifies while humidifying and pre-heating during the cooler seasons. This technique is useful for meeting the ASHRAE airflow & power requirements while improving indoor air quality and lowering overall HVAC system capacity at the same time.
The growing awareness regarding workplace conditions and employee welfare is leading to the high adoption of electricity-healing ventilators throughout industries, leading to the market’s dominance in the commercial zone. In terms of quantity, the call for energy-healing ventilators from the commercial sector has been increasing rapidly. Then again, the high value associated with these ventilators may act as a predicament to the market’s boom during the forecast period.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 – 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 - 2032 |
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CAGR |
14.06% |
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Segments Covered |
By Technology Type, Application, and Region. |
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Various Analyses Covered |
Global, Regional, & Country Level Analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Country Covered |
Brazil, Chile, Argentina, and Others. |
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Market Leaders Profiled |
Mitsubishi Electric Corporation (Japan), Daikin (Japan), Panasonic Corporation (Japan), LG Electronics (South Korea), Johnson Controls (US), Munters (Sweden), FUJITSU GENERAL (Japan), Carrier Corporation (US), Nortek Air Solutions (US), Greenheck Fan (US), and Others. |
Plate Heat Exchanger is estimated to account for the most significant proportion of the Energy Recovery ventilator market in 2017. The growth of this market section may be attributed to numerous factors such as the enhanced performance of plate warmness exchangers to transfer heat, ease in their upkeep, and compact layout.
The commercial phase is anticipated to account for the largest share of the Energy Recovery ventilator market in 2017. Energy Recovery ventilators introduce pre-tempered air into the primary air conditioner devices. These structures assist in stabilizing the humidity level of the indoor air. Hence, there is an excessive call for these Energy Recovery ventilators in the commercial segment.
Major companies plying their trade in the Latin America Energy Recovery Ventilator Market include
Frequently Asked Questions
The growth of the ERV market in Latin America is fueled by several factors, including increased awareness of energy efficiency, a growing focus on indoor air quality, rising construction of green buildings, and government regulations aimed at reducing carbon emissions.
The residential, commercial, and industrial sectors are the primary contributors to ERV adoption. Residential consumers drive demand due to urbanization, while the commercial sector, including offices, malls, and hospitals, contributes significantly due to the need for sustainable air quality systems. The industrial sector also uses ERVs in facilities like manufacturing plants and data centers to improve energy efficiency.
Government regulations focusing on energy conservation and indoor air quality standards have significantly influenced the adoption of ERVs. Countries like Mexico and Brazil have introduced energy-efficiency codes and incentives to encourage the use of advanced HVAC solutions, creating opportunities for market growth.
Emerging trends in the ERV market include the integration of ERVs with smart building systems, the development of advanced filtration technologies for improved air purification, the use of renewable energy to power ERV systems, and a growing preference for compact and modular designs to cater to space constraints in urban settings.
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