Economizer Market by Type (Fluid Economizers and Air-side Economizers), Application (Power Plants, Boilers, HVAC, Refrigeration, and Data Centers), End-use Industry (Industrial and Commercial), Region - Global Forecast to 2022
[133 Pages Report] Economizer Market was valued at USD 7.70 Billion in 2016 and projected to reach USD 11.54 Billion by 2022, at a CAGR of 6.7% from 2017 to 2022. Among end-use industries, the industrial segment is projected to lead the economizer market from 2017 to 2022. The power plants application segment is expected to lead the economizer market in 2017. The Asia Pacific economizer market is projected to grow at the highest CAGR during the forecast period. The demand for economizers is expected to increase during the forecast period due to their increased used in various applications such as power plants, boilers, heating, ventilation, and air conditioning (HVAC), etc.
The objectives of this study are:
- To define, describe, and forecast the economizer market on the basis of type, end-use industry, application, and region
- To strategically analyze micromarkets (which refer to further segments and subsegments of the economizer market that are included in the report) with respect to individual growth trends, future prospects, and contribution to the economizer market
- To analyze the opportunities in the economizer market for the stakeholders and draw a competitive landscape for the market leaders
- To forecast the market size, in terms of value with respect to five main regions, namely, Asia Pacific, North America, Europe, Middle East & Africa, and South America, along with their key countries
- To strategically profile the key players in the economizer market and comprehensively analyze their core competencies
- To analyze the competitive developments, such as joint ventures, mergers & acquisitions, new product developments, and research & development (R&D) activities in the economizer market
Years that have been considered for the study are:
- Base Year – 2016
- Estimated Year – 2017
- Projected Year – 2022
- Forecast Period – 2017 to 2022
For the company profiles, 2016 has been considered as the base year. In the cases, wherein information was unavailable for the base year, the years prior to it have been considered.
Research Methodology
This study aims to estimate the size of the economizer market for 2017 and projects its demand till 2022. It also provides a detailed qualitative and quantitative analysis of the economizer market. Various secondary sources that include directories, industry journals, and various associations, have been used to identify and collect information useful for this extensive commercial study of the economizer market. Primary sources such as experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess future prospects of the economizer market. The breakdown of profiles of primaries has been shown in the figure below:
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The value chain of the economizer market includes raw material suppliers and service providers. The leading players operating in the economizer market include Schneider Electric SE (France), Johnson Controls International plc (US), Alfa Laval AB (Sweden), Babcock & Wilcox Enterprises, Inc., (US), Honeywell International Inc. (US), Thermax Limited (India), Cleaver-Brooks, Inc. (US), SAACKE GmbH (Germany), SECESPOL Sp. z o.o. (Poland), STULZ Air Technology Systems, Inc. (US), Kelvion Holding GmbH (Germany), BELIMO Holding AG (Switzerland), Cain Industries (US), Sofame Technologies Inc. (Canada), Cannon Boiler Works (US), Shandong Hengtao Group (China), and MicroMetl Corporation (US).
Key Target Audience
- Manufacturers of Economizers
- Traders, Distributors, and Suppliers of Economizers
- End Users in the Supply Chain of Economizers
- Government and Consulting Organizations
- Regulatory Institutions
- Investment Banks and Private Equity Firms
Scope of the report: This research report categorizes the economizer market on the basis of type, application, end-use industry, and region. The report forecasts revenues as well as analyzes the trends in each of these submarkets of the economizer market.
Economizer Market, by End-use Industry:
- Industrial
- Commercial
Economizer Market, by Type:
- Fluid Economizers
- Air-side Economizers
Economizer Market, by Application:
- Power Plants
- Boilers
- HVAC
- Refrigeration
- Data Centers
Economizer Market, by Region:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- South America
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the specific needs of the companies. The following customization options are available for the report:
- Application Analysis
- Further breakdown of the type and end-use industry segments on the basis of application
The economizer market is projected to reach USD 11.54 Billion by 2022, at a CAGR of 6.7% from 2017 to 2022. The increasing demand for economizers across the globe can be attributed to the growing use of economizers for different applications in commercial and industrial sectors. Moreover, countries such as the US, Denmark, Canada, Sweden, and Poland are investing in clean energy resources to meet the increasing demand for energy, thereby influencing the growth of the economizer market.
Based on type, the economizer market has been segmented into fluid economizers and air-side economizers. Fluid economizers use chilled water to provide cooling requirements for waste heat recovery systems. There are 2 types of fluid economizers, namely, fluid economizers for chilled water systems and fluid economizers for glycol DX systems. The fluid economizers segment is the largest and the fastest-growing type segment of the economizer market, owing to their increasing applicability in industrial boilers and HVAC systems.
Based on end-use industry, the economizer market has been classified into industrial and commercial. In the industrial 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 economizer market.
Based on application, the economizer market has been classified into power plants, boilers, HVAC, refrigeration, and data centers. The power plants segment is the largest and the fastest-growing application segment of the economizer market. Economizers in power plants are used as heat exchanger devices, which conserve the residual heat generated by boilers. The growing demand for electricity has led to the installation of new fossil fuel-based thermal power plants in various regions worldwide, which, in turn, is anticipated to drive the demand for economizers, globally.
Asia Pacific is the largest market for economizers, owing to rise in the number of construction projects in this region. The Asia Pacific economizer market is expected to grow at the highest CAGR between 2017 and 2022. China, Japan, India, South Korea, Indonesia, and Australia are key countries considered for market analysis in this region. Increasing investments in the development of new power plants and upgrade of existing power plants as well as rising government initiatives for harnessing renewable and clean energy in various countries, such as China and India, are major factors driving the growth of the Asia Pacific economizer market.
However, the increasing CO2 emissions resulting from combustion operations carried out in power plants act as a key restraint to the growth of the economizer market.
Major companies operating in the economizer market include Schneider Electric SE (France), Johnson Controls International plc (US), Alfa Laval AB (Sweden), Babcock & Wilcox Enterprises, Inc., (US), Honeywell International Inc. (US), Thermax Limited (India), Cleaver-Brooks, Inc. (US), SAACKE GmbH (Germany), SECESPOL Sp. z o.o. (Poland), STULZ Air Technology Systems, Inc. (US), Kelvion Holding GmbH (Germany), BELIMO Holding AG (Switzerland), Cain Industries (US), Sofame Technologies Inc. (Canada), Cannon Boiler Works (US), Shandong Hengtao Group (China), and MicroMetl Corporation (US).
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Table of Contents
1 Introduction (Page No. - 13)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Years Considered in the Report
1.4 Currency
1.5 Stakeholders
2 Research Methodology (Page No. - 16)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Research Assumptions
2.5 Limitations
3 Executive Summary (Page No. - 25)
4 Premium Insights (Page No. - 30)
4.1 Opportunities in the Economizer Market
4.2 Economizer Market, By End-Use Industry
4.3 Economizer Market, By Application and Region
4.4 Economizer Market Growth
4.5 Economizer Market, By Type
5 Market Overview (Page No. - 33)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Clean and Renewable Energy
5.2.1.2 Growing Use of Economizers in HVAC Application Due to Increasing Construction Activities
5.2.2 Restraints
5.2.2.1 CO2 Emissions Resulting From Combustion Operations Carried Out in Power Plants
5.2.3 Opportunities
5.2.3.1 Increasing Awareness Across the Globe to Save Energy and Reduce Fuel Consumption
5.2.4 Challenges
5.2.4.1 Increased R&D Investments for the Development of New and Advanced Economizers
5.3 Porter’s Five Forces Analysis
5.3.1 Threat of Substitutes
5.3.2 Threat of New Entrants
5.3.3 Bargaining Power of Buyers
5.3.4 Bargaining Power of Suppliers
5.3.5 Intensity of Competitive Rivalry
5.4 Microeconomic Indicators
5.5 Coal Plants, By Country
6 Economizer Market, By Type (Page No. - 46)
6.1 Introduction
6.2 Market Size and Projection
6.3 Fluid Economizers
6.4 Air-Side Economizers
7 Economizer Market, By Application (Page No. - 50)
7.1 Introduction
7.2 Market Size and Projection
7.3 Power Plants
7.4 Boilers
7.5 HVAC
7.6 Refrigeration
7.7 Data Centers
8 Economizer Market, By End Use Industry (Page No. - 59)
8.1 Introduction
8.2 Market Size and Projection
8.3 Industrial
8.4 Commercial
9 Regional Analysis (Page No. - 63)
9.1 Introduction
9.2 Asia Pacific
9.2.1 China
9.2.2 India
9.2.3 Japan
9.2.4 Indonesia
9.2.5 South Korea
9.2.6 Australia
9.2.7 Rest of Asia Pacific
9.3 Europe
9.3.1 Germany
9.3.2 Italy
9.3.3 Poland
9.3.4 France
9.3.5 Russia
9.3.6 UK
9.3.7 Spain
9.3.8 Sweden
9.3.9 Rest of Europe
9.4 North America
9.4.1 US
9.4.2 Canada
9.4.3 Mexico
9.5 Middle East & Africa
9.5.1 South Africa
9.5.2 Saudi Arabia
9.5.3 UAE
9.5.4 Others
9.6 South America
9.6.1 Brazil
9.6.2 Colombia
9.6.3 Argentina
9.6.4 Others
10 Competitive Landscape (Page No. - 91)
10.1 Introduction
10.2 Competitive Leadeership Mappping
10.2.1 Visionary Leaders
10.2.2 Innovators
10.2.3 Dynamic Differentiators
10.2.4 Emerging Companies
10.3 Competitive Benchmarking
10.3.1 Strength of Product Portfolio
10.3.2 Business Strategy Excellence
10.4 Market Ranking
11 Company Profiles (Page No. - 96)
(Business Overview, Products Offered, Scorecard of Product Offering, Scorecard of Business Strategy, and New Product Launch)
11.1 Honeywell International Inc.
11.2 Schneider Electric Se
11.3 Johnson Controls International PLC
11.4 Alfa Laval AB
11.5 Thermax Limited
11.6 Babcock & Wilcox Enterprises, Inc.
11.7 Belimo Holding AG
11.8 Stulz Air Technology Systems, Inc.
11.9 Secespol Sp. Z O.O.
11.10 Cain Industries
11.11 Saacke GmbH
11.12 Cleaver-Brooks, Inc.
11.13 Other Companies in the Economizer Market
*Details Might Not Be Captured in Case of Unlisted Companies
12 Appendix (Page No. - 126)
12.1 Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Marketsandmarkets Subscription Portal
12.4 Introducing RT: Real-Time Market Intelligence
12.5 Available Customizations
12.6 Related Reports
12.7 Author Details
List of Tables (63 Tables)
Table 1 Economizer Market Snapshot
Table 2 Global Energy Consumption, By Country Grouping, 2012–2040 (Quadrillion Btu)
Table 3 Coal Plants, By Country, January 2017 (Units)
Table 4 Economizer Market Size, By Type, 2015-2022 (USD Million)
Table 5 Fluid Economizers Segment, By Region, 2015-2022 (USD Million)
Table 6 Air-Side Economizers Segment, By Region, 2015-2022 (USD Million)
Table 7 Economizer Market Size, By Application, 2015-2022 (USD Million)
Table 8 Economizer Market in Power Plants, By Region, 2015-2022 (USD Million)
Table 9 Economizer Market in Boilers, By Region, 2015-2022 (USD Million)
Table 10 Economizer Market in HVAC, By Region, 2015-2022 (USD Million)
Table 11 Economizer Market in Refrigeration, By Region, 2015-2022 (USD Million)
Table 12 Economizer Market in Data Centers, By Region, 2015-2022 (USD Million)
Table 13 Economizer Market Size, By End Use Industry, 2014-2021 (USD Million)
Table 14 Economizer Market for Industrial, By Region, 2015-2022 (USD Million)
Table 15 Economizer Market for Commercial, By Region, 2015-2022 (USD Billion)
Table 16 Economizer Market, By Region, 2015-2022 (USD Million)
Table 17 Asia Pacific: Economizer Market, By Country, 2015-2022 (USD Million)
Table 18 Asia Pacific: Economizer Market, By Type, 2015-2022 (USD Million)
Table 19 Asia Pacific: Economizer Market, By End User, 2015-2022 (Million Tons)
Table 20 Asia Pacific: Economizer Market, By Application, 2015-2022 (USD Million)
Table 21 China: Economizer Market, By Application, 2015-2022 (USD Million)
Table 22 India: Economizer Market, By Application, 2015-2022 (USD Million)
Table 23 Japan: Economizer Market, By Application, 2015-2022 (USD Million)
Table 24 Indonesia: Economizer Market, By Application, 2015-2022 (USD Million)
Table 25 South Korea: Economizer Market, By Application, 2015-2022 (USD Million)
Table 26 Australia: Economizer Market, By Application, 2015-2022 (USD Million)
Table 27 Rest of Asia Pacific: Economizer Market, By Application, 2015-2022 (USD Million)
Table 28 Europe: Economizer Market, By Country, 2015-2022 (USD Million)
Table 29 Europe: Economizer Market, By Type, 2015-2022 (USD Million)
Table 30 Europe: Economizer Market, By End Use Industry, 2015-2022 (USD Million)
Table 31 Europe: Economizer Market, By Application, 2015-2022 (USD Million)
Table 32 Germany: Economizer Market, By Application, 2015-2022 (USD Million)
Table 33 Italy: Economizer Market, By Application, 2015-2022 (USD Million)
Table 34 Poland: Economizer Market, By Application, 2015-2022 (USD Million)
Table 35 France: Economizer Market, By Application, 2015-2022 (USD Million)
Table 36 Russia: Economizer Market, By Application, 2015-2022 (USD Million)
Table 37 UK: Economizer Market, By Application, 2015-2022 (USD Million)
Table 38 Spain: Economizer Market, By Application, 2015-2022 (USD Million)
Table 39 Sweden: Economizer Market, By Application, 2015-2022 (USD Million)
Table 40 Rest of Europe: Economizer Market, By Application, 2015-2022 (USD Million)
Table 41 North America: Economizer Market, By Country, 2015-2022 (USD Million)
Table 42 North America: Economizer Market, By Type, 2015-2022 (USD Million)
Table 43 North America: Economizer Market, By End Use Industry, 2015-2022 (USD Million)
Table 44 North America: Economizer Market, By Application, 2015-2022 (USD Million)
Table 45 US: Economizer Market, By Application, 2015-2022 (USD Million)
Table 46 Canada: Economizer Market, By Application, 2015-2022 (USD Million)
Table 47 Mexico: Economizer Market, By Application, 2015-2022 (USD Million)
Table 48 Middle East & Africa: Economizer Market, By Country, 2015-2022 (USD Million)
Table 49 Middle East & Africa: Economizer Market, By Type, 2015-2022 (USD Million)
Table 50 Middle East & Africa: Economizer Market, By End Use Industry, 2015-2022 (USD Million)
Table 51 Middle East & Africa: Economizer Market, By Application, 2015-2022 (USD Million)
Table 52 South Africa: Economizer Market, By Application, 2015-2022 (USD Million)
Table 53 Saudi Arabia: Economizer Market, By Application, 2015-2022 (USD Million)
Table 54 UAE: Economizer Market, By Application, 2015-2022 (USD Million)
Table 55 Others: Economizer Market, By Application, 2015-2022 (USD Million)
Table 56 South America: Economizer Market, By Country, 2015-2022 (USD Million)
Table 57 South America: Economizer Market, By Type, 2015-2022 (USD Million)
Table 58 South America: Economizer Market, By End Use Industry, 2015-2022 (USD Million)
Table 59 South America: Economizer Market, By Application, 2015-2022 (USD Million)
Table 60 Brazil: Economizer Market, By Application, 2015-2022 (USD Million)
Table 61 Colombia: Economizer Market, By Application, 2015-2022 (USD Million)
Table 62 Argentina: Economizer Market, By Application, 2015-2022 (USD Million)
Table 63 Others: Economizer Market, By Application, 2015-2022 (USD Million)
List of Figures (41 Figures)
Figure 1 Research Design: Economizer Market
Figure 2 Bottom-Up Approach
Figure 3 Top-Down Approach
Figure 4 Economizer Market: Data Triangulation
Figure 5 The Fluid Economizers Type Segment is Projected to Lead the Economizer Market From 2017 to 2022
Figure 6 Asia Pacific Accounts for the Largest Share Across All Application in 2017
Figure 7 Economizer Market, By End-Use Industry, 2017 & 2022 (USD Million)
Figure 8 The Asia Pacific Economizer Market is Projected to Grow at the Highest CAGR From 2017 to 2022
Figure 9 The Economizer Market is Projected to Witness Substantial Growth From 2017 to 2022
Figure 10 The Industrial Segment of the Economizer Market is Projected to Grow at the Highest CAGR From 2017 to 2022
Figure 11 The Power Plants Application Segment to Account for the Largest Share of the Economizer Market in 2017
Figure 12 The India Economizer Market is Projected to Grow at the Highest CAGR From 2017 to 2022
Figure 13 Fluid Economizer Type is Projected to Lead the Economizer Market Through 2022
Figure 14 Drivers, Restraints, Opportunities, and Challenges for the Economizer Market
Figure 15 Carbon Dioxide Emissions, By Fuel, 2000-2014 (Million Tons)
Figure 16 Economizer Market: Porter’s Five Forces Analysis
Figure 17 Fluid Economizers Segment is Projected to Grow at A Higher CAGR During the Forecast Period
Figure 18 Asia Pacific to Account for the Largest Share in the Fluid Economizer Market During the Forecast Period
Figure 19 Asia Pacific is Projected to Be the Leading Market for Air Side Economizers During the Forecast Period
Figure 20 Power Plant Segment is Expected to Lead the Market of Economizer Between 2017 & 2022
Figure 21 The Power Plants Segment is Projected to Lead the Economizer Market in Asia Pacific During the Forecast Period
Figure 22 The Boilers Segment is Projected to Lead the Economizer Market in Asia Pacific During the Forecast Period
Figure 23 The HVAC Segment is Projected to Lead the Economizer Market in Asia Pacific During the Forecast Period
Figure 24 Refrigeration Segment in the Asia Pacific Economizer Market is Projected to Grow at the Highest CAGR During the Forecast Period
Figure 25 The Data Centers Segment is Projected to Lead the Asia Pacific Economizer Market During the Forecast Period
Figure 26 Industrial Segment is Estimated to Be the Largest Segment of Economizer Market
Figure 27 Industrial Segment is Projected to Be the Largest Segment in Asia Pacific
Figure 28 Commercial Industry is Estimated to Be the Largest Market in Asia Pacific
Figure 29 Asia Pacific Economizer Market Snapshot
Figure 30 Europe Economizer Market Snapshot
Figure 31 North America Economizer Market Snapshot
Figure 32 Middle East & Africa Economizer Market Snapshot
Figure 33 South America Economizer Market Snapshot
Figure 34 Economizer Market, Competitive Leadership Mapping, 2016
Figure 35 Honeywell International Inc. (U.S.) is the Leading Player in the Economizer Market
Figure 36 Honeywell International Inc.: Company Snapshot
Figure 37 Schneider Electric Se: Company Snapshot
Figure 38 Johnson Controls International PLC: Company Snapshot
Figure 39 Alfa Laval AB: Company Snapshot
Figure 40 Thermax Limited: Company Snapshot
Figure 41 Belimo Holding AG: Company Snapshot
Growth opportunities and latent adjacency in Economizer Market