Economizer Market
SHARE
PUBLISHED: 2022 ID: SMRC21629
SHARE

Economizer Market Forecasts to 2028 – Global Analysis By Type (Fluid Economizers, Air-side, Economizers), Application (Refrigeration, Power Plants), End User (Commercial, Industrial) and By Geography

4.9 (77 reviews)
4.9 (77 reviews)
Published: 2022 ID: SMRC21629

This report covers the impact of COVID-19 on this global market
Loading...

According to Stratistics MRC, the Global Economizer Market is accounted for $11.05 billion in 2021 and is expected to reach $19.81 billion by 2028 growing at a CAGR of 8.7% during the forecast period. Economizers are mechanical devices intended to reduce energy consumption, or to perform useful function such as preheating a fluid. In power plants, economizers are used as heat exchanger devices to conserve the residual heat generated by boilers. Economizers are heat exchangers that transfer the heat in the flue gas to another medium‚ generally the boiler feed-water‚ although other streams are sometimes used such as make-up water.

In 2021, the producer price index for heat exchangers in South Korea reached 114.58 points. The PPI slightly increased compared to the previous year. Moreover, following the pandemic the demand is expected to have a positive growth rate with increased preference to complete district energy and renewable energy targets along with the need to suffice HVAC demand. For instance, the UK Government has announced its target of sufficing 17% of UK heating needs through district heating networks by 2030.

Market Dynamics:

Driver:

Rising demand for electricity

A significant increase in the energy consumption and demand for electricity in the world has resulted in the larger size of power plants, so the increasing demand for power plants is driving the growth of the market. Due increase in fuel prices, all power plants are facing pressure for increasing boiler efficiency. So by using an economizer, this pressure can be minimized. In power plants where it is not used, a large quantity of water is required to cool the flue gas before desulphurization which is minimized by using economizers

Restraint:

High Cost

High cost of economizers is a one of the factor restraining the growth of the market. Moreover, economizers require humidification in low temperature, this humidification process further increases cost and time duration of the process which is another factor hampering the growth of the market. Additionally, the high installation and maintenance cost associated with economizers is restraining the growth of this market to some extent.

Opportunity:

Increasing application in data centre

The increasing application of economizers in data centers to complement or replace cooling devices like computer room air conditioners (CRACs) or chillers. Thus demands from data centers are creating opportunities for the market. Economizers can help lower a data center's energy consumption and the associated costs while moving toward a greener computing environment. Economizers are commonly used in data centers to reduce the reliance on cooling devices, such as chillers, compressors, or computer room air conditioners..

Threat:

Stringent Regulation

Stringent environmental regulations along with rising co2 emission are acting as market threat for the growth of the market in the forecast period. Government bodies and professional organizations, provide recommendations and guidelines for deploying economizers effectively.

Power Plants segment is expected to be the largest during the forecast period

The power plants segment is the largest and the fastest-growing application segment of the economizer market, as economizers in power plants are used as heat exchanger devices, which conserve the residual heat generated by boilers. The increasing demand for electricity has led to the installation of new fossil fuel-based thermal power plants in several provinces worldwide, which, in turn, is predicted to drive the demand for economizers, worldwide.

The Industrial segment is expected to have the highest CAGR during the forecast period

The Industrial segment is expected to have the highest CAGR during the forecast period, as in this segment, economizers are used as heat exchangers to preheat fluid, which results in energy conservation. Economizers are also utilized as combustion products, such as flue gases, to recover residual heat. The industrial segment is the largest and the fastest-growing end-use industry segment of the market.

Region with highest share:

The Asia Pacific is projected to hold the highest market share, due to the growing construction sector along with rapid industrialization. Additionally, a rising number of power plant projects and waste heat recovery projects in the region is another factor that is anticipated to propel the growth of the market. In Asia-Pacific, India, China, Indonesia, South Korea, and Japan are some of the major economies that are observing an increase in the investments in the development of new power plants, owing to which, considerable growth is projected to witness in the market. The enhancement of existing power plants and increasing government initiatives for harnessing renewable energy in emerging economies, such as India and China are the prominent factors that propel the growth of the market in this region.

Region with highest CAGR:

North America is projected to have the highest CAGR, due to increasing environmental concerns & awareness about energy efficiency among end-users of cooling systems. Moreover, the rising demand for economizers increases in the existing industries. Economizers have multiple applications which are highly useful for industrial uses such as power plants, HVAC, boilers, refrigeration, and others. These are some of the few factors motivating market growth.

Key players in the market:

Some of the key players profiled in the Economizer Market include Thermax Ltd, Stulz Air Technology Systems, Inc, Secespol SP. z o.o., Schneider Electric SE, Saacke GMBH, Johnson Controls International PLC, Honeywell International Inc, Cleaver-Brooks, Inc, Cleaver-Brook, Cain Industries,, Cain Industries, Belimo Holding AG, Babcock & Wilcox Enterprises Inc, Alfa Laval AB, Kelvion, SWEP.

Key developments:

In October 2017: SWEP launched a new B4 model which enables proper heat exchange in applications with compactness requirements and narrow temperature approaches. It is Easy to install and use, and the product is small but flexible, making it a particularly good choice for saving VRF and heat pump-focused applications.

In January 2019: Kelvion launched two new products to transform waste heat into energy: industrial installations and power plants generate waste heat which is generally released into the air. They can turn waste heat into useful forms of energy, reducing emissions and increasing efficiency. Kelvion 2 Recover Waste Heat solutions provide a convenient way to save energy, improve performance and combat global warming.

Types Covered: 
• Fluid Economizers  
• Air-side Economizers    

Applications Covered:
• Refrigeration  
• Power Plants  
• Heating, Ventilation, and Air Conditioning (HVAC)   
• Data Centers  
• Boilers     

End Users Covered:
• Commercial  
• Industrial      

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India        
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

 

Table of Contents

1 Executive Summary  
   
2 Preface  
 2.1 Abstract 
 2.2 Stake Holders 
 2.3 Research Scope 
 2.4 Research Methodology 
  2.4.1 Data Mining
  2.4.2 Data Analysis
  2.4.3 Data Validation
  2.4.4 Research Approach
 2.5 Research Sources 
  2.5.1 Primary Research Sources
  2.5.2 Secondary Research Sources
  2.5.3 Assumptions
   
3 Market Trend Analysis  
 3.1 Introduction 
 3.2 Drivers 
 3.3 Restraints 
 3.4 Opportunities 
 3.5 Threats 
 3.6 Application Analysis 
 3.7 End User Analysis 
 3.8 Emerging Markets 
 3.9 Impact of Covid-19 
   
4 Porters Five Force Analysis  
 4.1 Bargaining power of suppliers 
 4.2 Bargaining power of buyers 
 4.3 Threat of substitutes 
 4.4 Threat of new entrants 
 4.5 Competitive rivalry 
   
5 Global Economizer  Market, By Type  
 5.1 Introduction 
 5.2 Fluid Economizers    
 5.3 Air-side Economizers    
   
6 Global Economizer  Market, By Application  
 6.1 Introduction 
 6.2 Refrigeration    
 6.3 Power Plants    
 6.4 Heating, Ventilation, and Air Conditioning (HVAC)     
 6.5 Data Centers    
 6.6 Boilers     
   
7 Global Economizer  Market, By End User  
 7.1 Introduction 
 7.2 Commercial    
 7.3 Industrial     
   
8 Global Economizer  Market, By Geography  
 8.1 Introduction 
 8.2 North America 
  8.2.1 US
  8.2.2 Canada
  8.2.3 Mexico
 8.3 Europe 
  8.3.1 Germany
  8.3.2 UK
  8.3.3 Italy
  8.3.4 France
  8.3.5 Spain
  8.3.6 Rest of Europe
 8.4 Asia Pacific 
  8.4.1 Japan
  8.4.2 China
  8.4.3 India
  8.4.4 Australia
  8.4.5 New Zealand
  8.4.6 South Korea
  8.4.7 Rest of Asia Pacific
 8.5 South America 
  8.5.1 Argentina
  8.5.2 Brazil
  8.5.3 Chile
  8.5.4 Rest of South America
 8.6 Middle East & Africa 
  8.6.1 Saudi Arabia
  8.6.2 UAE
  8.6.3 Qatar
  8.6.4 South Africa
  8.6.5 Rest of Middle East & Africa
   
9 Key Developments  
 9.1 Agreements, Partnerships, Collaborations and Joint Ventures 
 9.2 Acquisitions & Mergers 
 9.3 New Product Launch 
 9.4 Expansions 
 9.5 Other Key Strategies 
   
10 Company Profiling  
 10.1 Thermax Ltd 
 10.2 Stulz Air Technology Systems, Inc 
 10.3 Secespol SP. z o.o. 
 10.4 Schneider Electric SE 
 10.5 Saacke GMBH 
 10.6 Johnson Controls International PLC 
 10.7 Honeywell International Inc 
 10.8 Cleaver-Brooks, Inc 
 10.9 Cleaver-Brook 
 10.10 Cain Industries, 
 10.11 Cain Industries 
 10.12 Belimo Holding AG 
 10.13 Babcock & Wilcox Enterprises Inc 
 10.14 Alfa Laval AB 
 10.15 Kelvion 
 10.16 SWEP 
   
List of Tables   
1 Global Economizer  Market Outlook, By Region (2020-2028) (US $MN)   
2 Global Economizer  Market Outlook, By Type (2020-2028) (US $MN)   
3 Global Economizer  Market Outlook, By Fluid Economizers (2020-2028) (US $MN)   
4 Global Economizer  Market Outlook, By Air-side Economizers (2020-2028) (US $MN)   
5 Global Economizer  Market Outlook, By Application (2020-2028) (US $MN)   
6 Global Economizer  Market Outlook, By Refrigeration (2020-2028) (US $MN)   
7 Global Economizer  Market Outlook, By Power Plants (2020-2028) (US $MN)   
8 Global Economizer  Market Outlook, By Heating, Ventilation, and Air Conditioning (HVAC) (2020-2028) (US $MN)   
9 Global Economizer  Market Outlook, By Data Centers (2020-2028) (US $MN)   
10 Global Economizer  Market Outlook, By Boilers (2020-2028) (US $MN)   
11 Global Economizer  Market Outlook, By End User (2020-2028) (US $MN)   
12 Global Economizer  Market Outlook, By Commercial (2020-2028) (US $MN)   
13 Global Economizer  Market Outlook, By Industrial (2020-2028) (US $MN)   
14 North America Economizer  Market Outlook, By Country (2020-2028) (US $MN)   
15 North America Economizer  Market Outlook, By Type (2020-2028) (US $MN)   
16 North America Economizer  Market Outlook, By Fluid Economizers (2020-2028) (US $MN)   
17 North America Economizer  Market Outlook, By Air-side Economizers (2020-2028) (US $MN)   
18 North America Economizer  Market Outlook, By Application (2020-2028) (US $MN)   
19 North America Economizer  Market Outlook, By Refrigeration (2020-2028) (US $MN)   
20 North America Economizer  Market Outlook, By Power Plants (2020-2028) (US $MN)   
21 North America Economizer  Market Outlook, By Heating, Ventilation, and Air Conditioning (HVAC) (2020-2028) (US $MN)   
22 North America Economizer  Market Outlook, By Data Centers (2020-2028) (US $MN)   
23 North America Economizer  Market Outlook, By Boilers (2020-2028) (US $MN)   
24 North America Economizer  Market Outlook, By End User (2020-2028) (US $MN)   
25 North America Economizer  Market Outlook, By Commercial (2020-2028) (US $MN)   
26 North America Economizer  Market Outlook, By Industrial (2020-2028) (US $MN)   
27 Europe Economizer  Market Outlook, By Country (2020-2028) (US $MN)   
28 Europe Economizer  Market Outlook, By Type (2020-2028) (US $MN)   
29 Europe Economizer  Market Outlook, By Fluid Economizers (2020-2028) (US $MN)   
30 Europe Economizer  Market Outlook, By Air-side Economizers (2020-2028) (US $MN)   
31 Europe Economizer  Market Outlook, By Application (2020-2028) (US $MN)   
32 Europe Economizer  Market Outlook, By Refrigeration (2020-2028) (US $MN)   
33 Europe Economizer  Market Outlook, By Power Plants (2020-2028) (US $MN)   
34 Europe Economizer  Market Outlook, By Heating, Ventilation, and Air Conditioning (HVAC) (2020-2028) (US $MN)   
35 Europe Economizer  Market Outlook, By Data Centers (2020-2028) (US $MN)   
36 Europe Economizer  Market Outlook, By Boilers (2020-2028) (US $MN)   
37 Europe Economizer  Market Outlook, By End User (2020-2028) (US $MN)   
38 Europe Economizer  Market Outlook, By Commercial (2020-2028) (US $MN)   
39 Europe Economizer  Market Outlook, By Industrial (2020-2028) (US $MN)   
40 Asia Pacific Economizer  Market Outlook, By Country (2020-2028) (US $MN)   
41 Asia Pacific Economizer  Market Outlook, By Type (2020-2028) (US $MN)   
42 Asia Pacific Economizer  Market Outlook, By Fluid Economizers (2020-2028) (US $MN)   
43 Asia Pacific Economizer  Market Outlook, By Air-side Economizers (2020-2028) (US $MN)   
44 Asia Pacific Economizer  Market Outlook, By Application (2020-2028) (US $MN)   
45 Asia Pacific Economizer  Market Outlook, By Refrigeration (2020-2028) (US $MN)   
46 Asia Pacific Economizer  Market Outlook, By Power Plants (2020-2028) (US $MN)   
47 Asia Pacific Economizer  Market Outlook, By Heating, Ventilation, and Air Conditioning (HVAC) (2020-2028) (US $MN)    
48 Asia Pacific Economizer  Market Outlook, By Data Centers (2020-2028) (US $MN)   
49 Asia Pacific Economizer  Market Outlook, By Boilers (2020-2028) (US $MN)   
50 Asia Pacific Economizer  Market Outlook, By End User (2020-2028) (US $MN)   
51 Asia Pacific Economizer  Market Outlook, By Commercial (2020-2028) (US $MN)   
52 Asia Pacific Economizer  Market Outlook, By Industrial (2020-2028) (US $MN)   
53 South America Economizer  Market Outlook, By Country (2020-2028) (US $MN)   
54 South America Economizer  Market Outlook, By Type (2020-2028) (US $MN)   
55 South America Economizer  Market Outlook, By Fluid Economizers (2020-2028) (US $MN)   
56 South America Economizer  Market Outlook, By Air-side Economizers (2020-2028) (US $MN)   
57 South America Economizer  Market Outlook, By Application (2020-2028) (US $MN)   
58 South America Economizer  Market Outlook, By Refrigeration (2020-2028) (US $MN)   
59 South America Economizer  Market Outlook, By Power Plants (2020-2028) (US $MN)   
60 South America Economizer  Market Outlook, By Heating, Ventilation, and Air Conditioning (HVAC) (2020-2028) (US $MN)   
61 South America Economizer  Market Outlook, By Data Centers (2020-2028) (US $MN)   
62 South America Economizer  Market Outlook, By Boilers (2020-2028) (US $MN)   
63 South America Economizer  Market Outlook, By End User (2020-2028) (US $MN)   
64 South America Economizer  Market Outlook, By Commercial (2020-2028) (US $MN)   
65 South America Economizer  Market Outlook, By Industrial (2020-2028) (US $MN)   
66 Middle East & Africa Economizer  Market Outlook, By Country (2020-2028) (US $MN)   
67 Middle East & Africa Economizer  Market Outlook, By Type (2020-2028) (US $MN)   
68 Middle East & Africa Economizer  Market Outlook, By Fluid Economizers (2020-2028) (US $MN)   
69 Middle East & Africa Economizer  Market Outlook, By Air-side Economizers (2020-2028) (US $MN)   
70 Middle East & Africa Economizer  Market Outlook, By Application (2020-2028) (US $MN)   
71 Middle East & Africa Economizer  Market Outlook, By Refrigeration (2020-2028) (US $MN)   
72 Middle East & Africa Economizer  Market Outlook, By Power Plants (2020-2028) (US $MN)   
73 Middle East & Africa Economizer  Market Outlook, By Heating, Ventilation, and Air Conditioning (HVAC) (2020-2028) (US $MN)   
74 Middle East & Africa Economizer  Market Outlook, By Data Centers (2020-2028) (US $MN)   
75 Middle East & Africa Economizer  Market Outlook, By Boilers (2020-2028) (US $MN)   
76 Middle East & Africa Economizer  Market Outlook, By End User (2020-2028) (US $MN)   
77 Middle East & Africa Economizer  Market Outlook, By Commercial (2020-2028) (US $MN)   
78 Middle East & Africa Economizer  Market Outlook, By Industrial (2020-2028) (US $MN)   

 

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials