A thermal wheel, also known as a rotary heat exchanger, or rotary air-to-air enthalpy wheel, or heat recovery wheel, is a type of energy recovery heat exchanger positioned within the supply and exhaust air streams of an air-handling system or in the exhaust gases of an industrial process, in order to recover the heat energy.
Currently, silica gel and molecular sieve are the two types with the largest market shares in the heat recovery wheel industry, accounting for 53.33% and 38.51% of the market share, respectively. Enthalpy wheels made from silica gel are an excellent desiccant for saturated or near-saturated gas streams. Compared to most molecular sieves, silica gel can retain more moisture in air streams above 50% RH on an equal weight basis. And molecular sieve is a well-known adsorbent material that can provide high moisture transfer. It also has a well-defined structure that avoids the transfer of odor-producing molecules. The molecular sieve heat wheel provides sensible and latent energy recovery with a very low level of cross-contamination between incoming outdoor air and exhaust system emissions.
Heat recovery wheels are applied in multiple industries such as residential, commercial, and industrial. The commercial and industrial sectors account for the vast majority of the heat recovery wheel market, at 42.78% and 41.48%, respectively. In the industrial sector, heat recovery wheel recover heat energy from dusty exhaust gases from various drying ovens, heat treatment furnaces, heating furnaces, and boilers. Its market value has achieved $651.77 million in 2019.
Global Heat Recovery Wheel Industry Market Status and Prospect Analysis
The global Heat Recovery Wheel market has a total sales value of $1418.24 million back in 2015, and increased to $1540.78 million in 2020. The market value of Heat Recovery Wheel market is expected to reach $1733.14 million by 2025. The CAGR of Heat Recovery Wheel is 2.38% from 2020 to 2025.
North America was the largest revenue market with a market share of 25.41% in 2015 and 25.24% in 2020 with a decrease of 0.17%. The United States is the most developed economy and the country that attracts the most foreign investment. The favorable business environment, huge consumer demand, global leading technology, and well-developed infrastructure have made America one of the most competitive, innovative, and open economies in the world. In 2019, its market value is $396.67 million, making it the highest value in the global heat recovery wheel market.
Europe ranked the second market with the market share of 23.14% in 2019. At present, the EU has established relations with most countries and regions of the world and has concluded various political and economic cooperation agreements. The free movement of goods, people, capital and services in Europe can basically freely flow without internal barriers, which provides a lot of convenience for the economic development of countries. It is expected to reach a market value of $394.34 million by 2025.
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The Asia Pacific and South America markets for Heat Recovery Wheel are expected to be the market with the most promising growth rate. Development of economy, increase downstream demand, technology innovation progress in emerging economies such as China, India and Brazil have led to an increase in demand.
Opportunities and Challenges in the Heat Recovery Wheel Industry
As the awareness of environmental protection gradually awakens, energy saving is becoming more and more important. The heat recovery wheel is an efficient heat exchanger. Compared with ordinary heat exchangers, its heat transfer performance and heat recovery efficiency are higher, and it can easily handle dust in the airflow, and operate dust-containing exhaust gas continuously and stably. With low investment cost, low energy cost, and no hygiene problems caused by condensate water, the heat recovery wheel has good product performance.
In addition, good service is necessary to improve user satisfaction and increase user loyalty. Under the premise of ensuring the immediate interests of users, providing good pre-sale, in-sale and after-sale services will bring good reputation to the enterprise and establish a quality brand image. It will bring more users and improve enterprise revenue. Heat recovery wheel may have various problems during the working process, so the adjustment involving mechanical and electrical control parameters is more common and frequent. Providing pre-sales, sales and after-sales services can not only improve user satisfaction with the brand and create a good reputation for the product, but also help the enterprise to understand the market feedback on the product in time and provide data for the improvement of procurement and production.
For some developing regions, the development of manufacturing technology and process equipment technology in the heat recovery wheel industry is slow. Most enterprises, especially the old state-owned enterprises, are still producing traditional equipment as the main force. Heat treatment process, equipment and many other technical issues related to the life and reliability of the heat exchanger failed to achieve a breakthrough. Secondly, the level of economic development is limited, enterprises in the construction of innovation systems, research and development and innovation capital investment, talent training and other aspects are still at a low level. Meanwhile, the gradual commercialization of research institutes has weakened the R&D capability of the industry.
However, as the world pays more attention to sustainability and energy costs, energy efficiency and green environmental protection have now become mandatory measures of the law, creating greater opportunities for the growth of the heat recovery wheel market. The establishment of brand awareness also plays a big role in the development of heat recovery wheel companies. As a kind of identification mark, brand carries a unique corporate culture and irreproducible product attributes. It is an important reflection of the core competitiveness of the enterprise, and its difference and reputation are important references for users to make purchase decisions. In order to avoid homogeneous competition in the market, enterprises should actively innovate and produce high-quality products to improve market competitiveness so that form their own brand advantages.
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