Vietnam Energy Recovery Ventilator Market - By Type (Plate Heat Exchanger, Heat Pipe Heat Exchanger, Rotary Heat Exchanger, Run Around Coil, Others); By Application (Residential, Commercial, Others); Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Vietnam Energy Recovery Ventilator Market Size More Than Doubles to Reach USD 384.3 Million by 2029
Vietnam energy recovery ventilator market is gaining traction because of the rising consumer awareness about poor indoor air quality and strict government policies focusing on installation of ventilators in green buildings.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Vietnam Energy recovery ventilator market size at USD 162.34 million in 2022. During the forecast period between 2023 and 2029, the Vietnam Energy recovery ventilator market size is projected to grow at an impressive CAGR of 13.10% reaching a value of USD 384.29 million by 2029. Expanding residential and commercial building development in the country as well as increased investment in sustainable energy technologies are key growth factors for the Vietnam energy recovery ventilator market. The Vietnam energy recovery ventilator market is expected to have robust expansion during the projected period as a result of rising awareness of the negative health effects of toxic emissions.
Vietnam Energy Recovery Ventilator Market – Overview
An energy recovery ventilator (ERV) is a type of mechanical apparatus used to provide regulated ventilation in a building. It includes a heat exchanger and a ventilation system. By installing an energy recovery ventilator, the residents will be able to maintain airflow while consuming less energy. In an ERV, heated air continually exchanges heat with outside air that is colder and healthier. There are four distinct types of energy recovery ventilators: runaround loop coil, plate heat exchanger, rotary heat exchanger, and heat-pipe heat exchanger.
Vietnam Energy Recovery Ventilator Market – By Application
Based on application, Vietnam energy recovery ventilator market is segmented into residential, commercial, and others. The commercial segment accounts for the highest share of the Vietnam energy recovery ventilator market. These systems are prominently being used in commercial spaces including hotels and restaurants, airports, offices, and others. Energy recovery ventilators are highly efficient in lowering the operational costs of these commercial facilities, which is contributing to its market growth. However, the residential segment is projected to register the highest CAGR during the forecast period owing to increasing housing development in Vietnam
Impact of COVID-19 on Vietnam Energy Recovery Ventilator Market
Vietnam's economy as a whole and the energy recovery ventilators market both had a mild COVID-19 pandemic-related impact. The country's implementation of social distance regulations and nationwide lockdown hampered economic activity and caused a sharp fall in construction activity. Additionally, limitations on import and export operations as well as a fall in consumer purchasing power led to a subsequent decline in the entire market for energy recovery ventilators in Vietnam.
Competitive Landscape
Major players operating in the Vietnam energy recovery ventilator market include Mitsubishi Electric Corporation, Daikin, Panasonic Corporation, LG Electronics, Johnson Controls, Munters, FUJITSU General, Nortek Air Solutions, Greenheck Fan, and Carrier Corporation. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Vietnam Energy Recovery Ventilator Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Vietnam Energy Recovery Ventilator Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Vietnam Energy Recovery Ventilator Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Rising consumer awareness about poor indoor air quality
- 3.2.1.2. Strict government policies focusing on installation of ventilators in green buildings
- 3.2.2. Restraints
- 3.2.2.1. Lack of awareness about the benefits offered by energy recovery utilities
- 3.2.3. Opportunities
- 3.2.3.1. Product innovation in energy recovery ventilators
- 3.2.4. Challenges
- 3.2.4.1. The difficulty involved in retrofitting older buildings with new and improved energy recovery ventilators
- 3.3. Technology Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1.1. Bargaining Power of Suppliers
- 3.5.1.2. Bargaining Power of Buyers
- 3.5.1.3. Threat of New Entrants
- 3.5.1.4. Threat of Substitutes
- 3.5.1.5. Intensity of Rivalry
- 4. Vietnam Energy Recovery Ventilator Market Overview
- 4.1. Market Size & Forecast, by Value, 2019–2029
- 4.1.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Type
- 4.2.1.1. Plate Heat Exchanger
- 4.2.1.2. Heat Pipe Heat Exchanger
- 4.2.1.3. Rotary Heat Exchanger
- 4.2.1.4. Run Around Coil
- 4.2.1.5. Others
- 4.2.2. By Application
- 4.2.2.1. Residential
- 4.2.2.2. Commercial
- 4.2.2.3. Others
- 5. Competitive Landscape
- 5.1. List of Key Players and Their Offerings
- 5.2. Vietnam Energy Recovery Ventilator Company Market Share Analysis, 2022
- 5.3. Competitive Benchmarking, By Operating Parameters
- 5.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
- 6. Impact of Covid-19 on Vietnam Energy Recovery Ventilator Market
- 7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 7.1. Mitsubishi Electric Corporation
- 7.2. Daikin
- 7.3. Panasonic Corporation
- 7.4. LG Electronics
- 7.5. Johnson Controls
- 7.6. Munters
- 7.7. FUJITSU General
- 7.8. Nortek Air Solutions
- 7.9. Greenheck Fan
- 7.10. Carrier Corporation
- 7.11. Other Prominent Players
- 8. Key Strategic Recommendations
- 9. Research Methodology
- 9.1. Qualitative Research
- 9.1.1. Primary & Secondary Research
- 9.2. Quantitative Research
- 9.3. Market Breakdown & Data Triangulation
- 9.3.1. Secondary Research
- 9.3.2. Primary Research
- 9.4. Breakdown of Primary Research Respondents, By Region
- 9.5. Assumptions & Limitations
- *Financial information of case of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
- List of Figures
- Figure 1 Vietnam Energy Recovery Ventilator Segmentation
- Figure 2 Vietnam Energy Recovery Ventilator Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 Vietnam Energy Recovery Ventilator Market Size, By Value (USD Million), 2019–2029
- Figure 5 Vietnam Energy Recovery Ventilator Market Share, By Type, By Value, 2019–2029
- Figure 6 Vietnam Energy Recovery Ventilator Market Share, By Application, By Value, 2019–2029
- List of Tables
- Table 1 Vietnam Energy Recovery Ventilator Segmentation
- Table 2 Vietnam Energy Recovery Ventilator Market Value Chain Analysis
- Table 3 Company Market Size Analysis, 2022
- Table 4 Vietnam Energy Recovery Ventilator Market Size, By Value (USD Million), 2019–2029
- Table 5 Vietnam Energy Recovery Ventilator Market Share, By Type, By Value, 2019–2029
- Table 6 Vietnam Energy Recovery Ventilator Market Share, By Application, By Value, 2019–2029
- Table 7 Mitsubishi Electric Corporation Company Overview
- Table 8 Mitsubishi Electric Corporation Financial Overview
- Table 9 Daikin Company Overview
- Table 10 Daikin Financial Overview
- Table 11 Panasonic Corporation Company Overview
- Table 12 Panasonic Corporation Financial Overview
- Table 13 Johnson Controls Company Overview
- Table 14 Johnson Controls Financial Overview
- Table 15 Munters Company Overview
- Table 16 Munters Financial Overview
- Table 17 FUJITSU General Company Overview
- Table 18 FUJITSU General Financial Overview
- Table 19 Nortek Air Solutions Company Overview
- Table 20 Nortek Air Solutions Financial Overview
- Table 21 Greenheck Fan Company Overview
- Table 22 Greenheck Fan Financial Overview
- Table 23 Carrier Corporation Company Overview
- Table 24 Carrier Corporation Financial Overview
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