Global Economizer Market, By Product Type (Fluid or Water Side Economizer, Air Side Economizer), Application (Boilers, Industrial and Commercial Refrigeration Systems, Power Generation Systems, Data Center Processing, HVAC Systems, Others), Boiling Efficiency (Condensing, Non-Condensing) Sales Channel (OEM, Aftermarket), End User (Industrial, Commercial) – Industry Trends and Forecast to 2029
Economizer Market Analysis and Size
Global economizer market is highly driven by some factors such as high use of economizer because of rising construction sector, growing demand of renewable energy and rising concern regarding environment. The growing concern about environment has increased the government regulations which goal to reduce the fuel consumption and ensure the conservation of energy these are some major factors that are providing lucrative opportunities for the growth of the economizer market. Moreover, the increasing demand of economizer in the end-user industries such as construction and power generation in the emerging economies with growing urbanization and industrialization is another major factor for the growth of the economizer market during the forecast period.
Data Bridge Market Research analyses that the economizer market is expected to undergo a CAGR of 6.60% during the forecast period. This indicates that the market value, which was USD 10.60 billion in 2021, would rocket up to USD 17.68 billion by 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Economizer Market Scope and Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2022 to 2029
|
|
Base Year
|
2021
|
|
Historic Years
|
2020 (Customizable to 2014 - 2019)
|
|
Quantitative Units
|
Revenue in USD Billion, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Product Type (Fluid or Water Side Economizer, Air Side Economizer), Application (Boilers, Industrial and Commercial Refrigeration Systems, Power Generation Systems, Data Center Processing, HVAC Systems, Others), Boiling Efficiency (Condensing, Non-Condensing) Sales Channel (OEM, Aftermarket), End User (Industrial, Commercial)
|
|
Countries Covered
|
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
|
|
Market Players Covered
|
Honeywell International Inc (U.S.), Schneider Electric (France), Johnson Controls (Ireland), Alfa Laval (Sweden), Thermax Limited (India), Babcock & Wilcox Enterprises Inc (U.S.), Belimo Holding AG (Switzerland), Stulz Air Technology Systems, Inc (U.S.), SECESPOL Sp. z o.o. (Poland), Cain Industries (U.S.), Saacke GMBH (Germany), Cleaver-Brooks (U.S.), Kelvion Holding GmbH (Germany), Sofame Technologies (Canada), Cannon Boiler Works (U.S.), Shandong Hengtao Energy Saving & Environment Protection Co., Ltd. (China), MicroMetl Corporation (U.S.)
|
|
Market Opportunities
|
|
Market Definition
Economizers or economisers are mechanical equipment intended to minimize energy consumption or perform beneficial functions such as preheating a fluid. The term economizer is also used for other purposes as well as for heating, refrigeration, boiler, power plant, ventilating, and air conditioning (HVAC) purposes. In simple words, an economizer is a heat exchanger device.
Economizer Market Dynamics
Drivers
- Increasing demand of economizer in several purposes
Economizers are used in several applications such as boilers and in power generation plants and which is expected to drive the growth rate of the economizer market. Furthermore, the rising construction sector and growing number of ongoing construction projects globally are also expected to fuel the growth of economizer market.
- Growing use of economizer as combustion product
The economizers are also used as combustion products such as flue gases in industries, to recover the residual heat. The rising use of economizer as combustion products in the industries are anticipated to drive the economizer market growth rate during the forecast period of 2022-2029.
- Rising demand of economizers in power plants
Economizers is widely used in power plants as heat exchanger devices. It conserve the residual heat generated which has produced by boilers. The rising demand of economizer for generation of electricity has led to the installation of new fossil fuel-based thermal power plants in several nations globally which, in turn, is expected to drive the demand for economizers worldwide.
Furthermore, rapid urbanization as well as industrialisation overall the globe, prevalence of product with improved operational efficiency are some factors which also accelerate the growth of the economizer market during the forecast period of 2022-2029.
Opportunities
- Government initiatives and increased research activities
The extensive research and development activities by major market players in collaboration with government authorities are serving improve quality of economizer devices. Also, the technological advancements in manufacture of economizer by using different raw materials are profiting end-users which create the immense opportunities for the growth of the economizer market.
- Increasing government regulations
The increasing government regulation which aims to reduce the consumption of fuel and ensure the conservation of energy are some major factors which will create lucrative growth opportunities to the economizer market.
Also, rising awareness among the consumer regarding save energy and the fuel consumption will further increase several opportunities that will lead to the growth of the economizer market during the forecast period.
Restraints/Challenges
- Environmental concern
The stringent environmental regulations along with increasing emission of CO2 resulting from the combustion operations which has carried out by power plants are anticipated to negatively impact the demand of economizer and restrain the growth rate of the economizer market.
Furthermore, the rising number of investment for research and development of advanced economizer will become the major challenge in the growth of the economizer market.
This economizer market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the economizer market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Economizer Market
The outbreak of COVID-19 has affected several number of industries in a number of countries due to travel bans, lockdowns and business closures. All major industries are experiencing severe disruptions, including technology event cancellations, supply chain breakdowns and office closures because of this pandemic. China is the global manufacturing hub of economizer with the presence of largest raw material suppliers. The economizer market is also suffering from this COVID-19 outbreak due to supply chain obstacles, factory closures and the global economic downturn.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Economizer Market Scope
The economizer market is segmented on the basis of product type, application, boiling efficiency, sales channel and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Fluid or Water Side Economizer
- Air Side Economizer
Application
- Boilers
- Industrial and Commercial Refrigeration Systems
- Power Generation Systems
- Data Center Processing
- HVAC Systems
- Others
Boiling Efficiency
- Condensing
- Non-Condensing
Sales Channel
- OEM
- Aftermarket
End User
- Industrial
- Commercial
Economizer Market Regional Analysis/Insights
The economizer market is analysed and market size insights and trends are provided by country, product type, application, boiling efficiency, sales channel and end user as referenced above.
The countries covered in the economizer market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the economizer market due to the growing construction industry along with the rapid industrialisation in this region.
Asia-Pacific will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to the increasing preferences towards renewable and clean source of energy.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Economizer Market Share Analysis
The economizer market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to economizer market.
Some of the major players operating in the economizer market are:
- Honeywell International Inc (U.S.)
- Schneider Electric (France)
- Johnson Controls (Ireland)
- Alfa Laval (Sweden)
- Thermax Limited (India)
- Babcock & Wilcox Enterprises Inc (U.S.)
- Belimo Holding AG (Switzerland)
- Stulz Air Technology Systems, Inc (U.S.)
- SECESPOL Sp. z o.o. (Poland)
- Cain Industries (U.S.)
- Saacke GMBH (Germany)
- Cleaver-Brooks (U.S.)
- Kelvion Holding GmbH (Germany)
- Sofame Technologies (Canada)
- Cannon Boiler Works (U.S.)
- Shandong Hengtao Energy Saving & Environment Protection Co., Ltd. (China)
- MicroMetl Corporation (U.S.)
SKU-