Global Economizer Market Research and Forecast 2017-2022

Posted by Orion Market Research on July 24th, 2018

The global Economizer market is anticipated to grow at the CAGR of 7% during 2017-2022. The major factors that are augmenting the growth of the market includes rising demand of clean and reusable energy and use of economizer in Heating Ventilation and Air Conditioning (HVAC) applications. Moreover, increase in constructional activities and growing usage of refrigeration in medical and automotive domain is also estimated to be major factors that are fuelling the growth of the market. Economizer has been used to cool external environment temperature to preserve hardware for green computing environment. Economizers are used in data centers to replace cooling devices like computer room air conditioners. They save data centers operational costs by more than 50-60%. The increasing demand for economizer across the globe can be predicted by growing use of economizers for different applications in commercial as well as industrial sectors. Globally, the governments of both developed and emerging countries have been taking initiatives to reduce greenhouse gas and their carbon footprints by employing economizer. Fluid economizer and air side economizer are used to fulfill cooling requirements for waste heat recovery systems. The fluid economizer market is growing significantly due to increase applicability in industrial boilers and HVAC systems. In industries economizer are used as a heat ex changers to preheat fluid resulting in energy conservation. Industrial segment is also the fastest and largest growing end use industry segment of the market. However, there are certain factors that are hindering the growth of the market. High maintenance cost and emission of poisonous gases resulting from combustion in power plants are estimated to be the major constraints in the growth of the market.

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Global economizer market is analyzed on the basis of the geographical regions that are contributing significantly towards the growth of the market. On the basis of the geography, market is bifurcated into North America, Europe, Asia Pacific and Rest of the World. Asia Pacific is the largest market for economizer due to the rise in the number of construction projects within the region. The development of new power plants and up gradation of existing plants in various countries such as china and India are major factors driving the Asia Pacific market.

Browse full report at: Global Economizer Market Research

Key players of the economizer market include Honeywell International Inc., Schneider Electric SE, Johnson Controls International PLC,  Alfa Laval AB, Thermax Ltd., Babcock & Wilcox Enterprises, Inc., Belimo Holding AG, Stulz Air Technology Systems, Inc., Secespol SP. z o.o., Cain Industries, Saacke GMBH, Cleaver-Brooks, Inc., Cannon Boilers Works, Super Radiation Coils, Victory Energy Operations, Chanuate, Real boilers Pvt. Ltd., KPtron Engineering, Patwa Tech Pvt. Ltd., Mechno Tech and so on. In order to stay competitive in the market these players adopt different marketing strategies such as merger and acquisitions, product launch, collaboration, geographical expansion and so on. Johnson Controls International PLC  and Tyco entered into partnership in 2016 to create leaders in building products, and technology, integrated solutions and energy storage. Moreover, Johnson controls launched YORK YK-EP “Efficiency Plus” water cooled centrifugal chiller for achieving more capacity and improved efficiency.