“The economizer market is projected to reach USD 11.54 billion by 2022, at a CAGR of 6.7 between 2017 and 2022.”
The economizer market is projected to reach USD 11.54 billion by 2022, at a CAGR of 6.7% from 2017 to 2022. Increasing usage of economizers in various applications such as power generation plants and boilers is driving the growth of the economizer market across the globe. Moreover, the growing construction industry and increasing number of ongoing construction projects, worldwide are also fueling the growth of economizer market. However, increasing CO2 emissions resulting from the combustion operations carried out by power plants are expected to negatively impact the growth of the economizer market across the globe.
“The power plants application segment is projected to lead the economizer market during the forecast period.”
Among applications, the power plants segment is projected to lead the economizer market during the forecast period. Moreover, this application segment of the market is projected to grow at the highest CAGR between 2017 and 2022. The growth of the power plants application segment of the market can be attributed to the increased use of economizers in thermal power plants for boilers. As the demand for energy is increasing rapidly in the emerging economies, it is resulting in the setting up of new power plants. These new power plants require boilers, which, in turn, contribute to the increased use of economizers for these boilers, thereby contributing to the growth of the economizer market.
“The Asia Pacific region is projected to lead the economizer market during the forecast period.”
The Asia Pacific region is estimated to account for the largest share of the economizer market in 2017. It is expected to be followed by the European and North American regions. China is one of the major producers and consumers of economizers in the Asia Pacific region. The Asia Pacific economizer market is projected to grow at the highest CAGR between 2017 and 2022. The rising energy consumption in the Asia Pacific region has resulted in the increased installation of economizers in the region, thereby leading to the growth of the Asia Pacific economizer market.
Breakdown of Primary Interviews
In the process of determining and verifying the market size gathered through secondary research for several segments and subsegments, extensive primary interviews have been conducted with the key industry experts. The break-up of profiles of primary discussion participants has been given below.
Breakdown of the Profiles of Primary Participants:
- By Company Type: Tier 1 - 35%, Tier 2 - 41%, and Tier 3 - 24%
- By Designation: C Level - 56%, Director Level - 28%, and Others - 16%
- By Region: Asia Pacific - 33%, North America - 27%, Europe - 20%, Middle East & Africa - 13%, and South America - 7%
The key companies profiled in this report are 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).
This report offers an overview of the market trends, drivers, and restraints with respect to the economizer market. It also provides a detailed overview of the market across five regions, namely, Asia Pacific, North America, Europe, Middle East & Africa, and South America. The report categorizes the economizer market on the basis of application, type, and end-use industry. A detailed analysis of the leading players, along with the key growth strategies adopted by them is also covered in the report.
Reasons To Buy the Report:
This report covers the following key aspects:
- What would be the size of the economizer market by 2022 and what would be the growth rate of the market between 2017 and 2022?
- What are the key trends for the economizer market?
- What are the factors expected to drive the growth of the economizer market?
- What are the restraints for the economizer market?
- Who are the key players in the economizer market
- This report covers key regions, such as North America, Europe, and Asia Pacific, including major countries, such as the US, China, Japan, India, Germany, Italy, etc. of these regions.