The global ventilator market is expected to generate a revenue of $1.0 billion by 2022, progressing at a 7.7% CAGR during the forecast period (2016–2022). Every corner of the world right now is trying to combat the novel coronavirus, which has affected millions of people. After its initial outbreak in Wuhan, China, the virus continued to spread in different countries and a large number of people have already lost their lives due to the disease.
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Due to the rising global population, there has been a drastic rise in the industrialization and urbanization rates in several countries across the world. This is mainly because of the ballooning requirement for residential buildings and various consumable and non-consumable products in those countries. This rapid surge in the residential and industrial sectorss has pushed up the requirement for energy recovery ventilators, especially in those settings where heating, ventilation, and air conditioning (HVAC) equipment are extensively used.
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Globally, the energy recovery ventilator market is predicted to register huge expansion in North America in the forthcoming years. This is ascribed to the increasing efforts being made in the North American countries for conserving energy and reducing the costs of energy consumption. Moreover, the enactment of several regulations by the governments in these countries such as ANSI/ASHRAE/IESNA Standard 90.1 and Building Efficiency Standards of California is tremendously augmenting the usage of energy recovery ventilators in this region.
This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the market and their service offerings