Economizer Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Economizer Market Analysis
The Economizer market is expected to grow at a CAGR of over 4% during the forecast period. Major factor driving the market studied is the rapidly growing demand of economizer from power plants. On the flip side,iIncreasingly stringent environmental regulations limiting nitrogen oxide and sulfur dioxide emission from power plant and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
- Growing application of economizer in waste heat recovery system in boiler is forecasted to offer various opportunities for the growth of the market over the forecast period.
- Economizer from power plant application is expected to dominate the market studied over the forecast period.
- Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.
Economizer Market Trends
This section covers the major market trends shaping the Economizer Market according to our research experts:
Growing Demand of Economizer from Power Plants
- Economizers are mechanical devices intended to reduce energy consumption, or to perform useful function such as preheating a fluid.
- Additionally, Economizer is used as heat exchanger in boiler, power plant, heating, refrigeration, ventilating, and air conditioning (HVAC).
- An economizer in thermal plants works as a waste heat store, which further used in preheating the feed water of boilers.
- The considerable increase of the demand of electricity throughout the world has resulted in increased size of power plant. The process of electrical power generation, in a coal fired thermal power plant is one of the most widespread and conventional methods.
- Hence, owing to the above-mentioned factors, the application of economizer from thermal power plant is likely to dominate during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for economizer during the forecast period. The rising demand of economizer from thermal power plant and growing application in commercial sector in developing countries like China, Japan and India is expected to drive the demand for economizer in this region.
- The largest producers of economizer are located in Asia-Pacific region. Some of the leading companies in the production of economizer are Honeywell International Inc., Schneider Electric, ALFA LAVAL, Johnson Controls International PLC, and BELIMO AIRCONTROLS (USA), INC among others.
- For instance, According to the Japan Refrigeration and Air Conditioning Industry Association, in 2018, the global demand for air conditioners stood at 110.97 million units.
- According to the report by the International Energy Agency (IEA), Global energy demand from air conditioners is anticipated to triple by 2050
- According to ministry of India, the electricity generation target of conventional sources for the year 2018-19 was fixed at 1265 BU comprising of 1091.500 BU from thermal power plants.
- Owing to the above-mentioned factors, the market for economizer in the Asia-Pacific region is projected to grow significantly during the study period.
Economizer Industry Overview
The global economizer market is partially consolidated in nature with only few major players dominating the market. Some of the major companies are Honeywell International Inc., Schneider Electric, ALFA LAVAL, Johnson Controls International PLC, and BELIMO AIRCONTROLS (USA), INC among others.
Economizer Market Leaders
Honeywell International Inc.
Schneider Electric
ALFA LAVAL
Johnson Controls International PLC
BELIMO AIRCONTROLS (USA), INC.
*Disclaimer: Major Players sorted in no particular order
Economizer Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Growing Demand of Economizer from Power Plants
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4.1.2 Other Drivers
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4.2 Restraints
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4.2.1 Increasingly Stringent Environmental Regulations Limiting Nitrogen Oxide and Sulfur Dioxide Emission from Power Plant
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4.2.2 Other Restraints
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4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Product Type
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5.1.1 Fluid Side Economizer
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5.1.2 Air Side Economizer
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5.2 Boiling Efficiency
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5.2.1 Condensing
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5.2.2 Non-Condensing
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5.3 Application
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5.3.1 Power Plants
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5.3.2 Boilers
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5.3.3 HVAC
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5.3.4 Refrigeration
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5.3.5 Others
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5.4 Geography
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5.4.1 Asia-Pacific
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5.4.1.1 China
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5.4.1.2 India
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5.4.1.3 Japan
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5.4.1.4 South Korea
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5.4.1.5 Rest of Asia-Pacific
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5.4.2 North America
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5.4.2.1 United States
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5.4.2.2 Canada
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5.4.2.3 Mexico
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5.4.3 Europe
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5.4.3.1 Germany
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5.4.3.2 United Kingdom
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5.4.3.3 France
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5.4.3.4 Italy
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5.4.3.5 Rest of Europe
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5.4.4 South America
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5.4.4.1 Brazil
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5.4.4.2 Argentina
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5.4.4.3 Rest of South America
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5.4.5 Middle-East and Africa
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5.4.5.1 Saudi Arabia
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5.4.5.2 South Africa
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5.4.5.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share/Ranking Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 Honeywell International Inc.
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6.4.2 Schneider Electric
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6.4.3 ALFA LAVAL
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6.4.4 Johnson Controls International PLC
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6.4.5 BELIMO AIRCONTROLS (USA), INC
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6.4.6 Cain Industries
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6.4.7 Cleaver-Brooks, Inc
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6.4.8 SAACKE GmbH
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6.4.9 SWEP International AB
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6.4.10 Thermax Limited
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6.4.11 STULZ Air Technology Systems, Inc.
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6.4.12 SOFAME Technologies
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6.4.13 SECESPOL Sp. z o.o.
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6.4.14 MicroMetl Corporation.
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Growing Application of Economizer in Waste Heat Recovery System in Boiler
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7.2 Other Opportunities
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Economizer Industry Segmentation
The economizer market report includes:
| Product Type | |
| Fluid Side Economizer | |
| Air Side Economizer |
| Boiling Efficiency | |
| Condensing | |
| Non-Condensing |
| Application | |
| Power Plants | |
| Boilers | |
| HVAC | |
| Refrigeration | |
| Others |
| Geography | |||||||
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Economizer Market Research FAQs
What is the current Economizer Market size?
The Economizer Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Economizer Market?
Honeywell International Inc. , Schneider Electric, ALFA LAVAL, Johnson Controls International PLC and BELIMO AIRCONTROLS (USA), INC. are the major companies operating in the Economizer Market.
Which is the fastest growing region in Economizer Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Economizer Market?
In 2024, the Asia Pacific accounts for the largest market share in Economizer Market.
What years does this Economizer Market cover?
The report covers the Economizer Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Economizer Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Economizer Industry Report
Statistics for the 2024 Economizer market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Economizer analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
