BOULDER, Colo.--(BUSINESS WIRE)--An energy recovery ventilator (ERV) is a type of heating, ventilation, and air conditioning (HVAC) equipment that uses the energy associated with the thermally conditioned air being exhausted from a building to precondition the incoming air. ERVs, which offer many advantages for both improved indoor air quality (IAQ) and reduced energy consumption, are one of the fastest-growing segments of improved IAQ management in buildings. Click to tweet: According to a recent report from Navigant Research, worldwide revenue from ERVs will 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,” says 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 of 8.8 percent over that period.
The report, “Indoor Air Quality Monitoring and Management in Smart Buildings”, provides a comprehensive, global look at the state of the various IAQ-related technologies that are currently available and being used in both new and retrofit applications. Revenue forecasts, segmented by technology, building type, and region, extend through 2020. The report includes a detailed look at the market drivers and barriers, technology issues, and key standards for IAQ systems, and profiles key industry players. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Indoor Air Quality Monitoring and Management in Smart Buildings,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.