Technology To Drive HRV Growth

Smart heat recovery ventilator (HRV) sensing technology is luring customers and generating revenue opportunities for system providers, says a report from Fact.MR. The market is forecast to witness steady growth on the back of homeowners’ rising need for ventilation and air purification systems. The global heat recovery market was valued at US$3.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.4 per cent through 2032 to a value of $7.2 billion. As of 2021, there were more than 4.9 million HRV systems installed and more than 50 per cent of those were installed in residential buildings. On the basis of mounting type, wall mount and ceiling mount ventilators accounted for around 35 per cent of the global market share in 2021. With the introduction of the VIRTUO smart exchanger by Venmar, the evolution of smart ventilating systems along with compatible heat sensing and remote operation on IOT-based technology is expected to be a future trend.