Economizer Market is anticipated to grow at a substantial CAGR of 7.0% during the forecast period.An economizer is a device that is used as a heat exchanger for the preheating of fluids and to enhance the efficiency of boilers. It transfers heat from flue gases that come out from boilers to feed water. It provides various benefits to industries, which include the reduction of carbon emissions and waste heat recovery. More efficient economizers are being developed to further enhance the efficiency of the process. Increasing demand for clean energy, power-efficient boilers, and cost-effective cooling across the globe are the factors that are fueling the growth of the economizer market. Additionally, the rising usage of economizers as heat exchangers for preheating fluids to optimize energy consumption coupled with the increasing numbers of power plants is prominently growing the economizer market across the globe.
COVID-19 pandemic hit the globe in early 2020 and spread across the globe like a wildfire. This impacted most people’s lives, and a new way was generated to live. The impact of COVID-19 on the economizer market was explained in the annual report of Alfa Level which said, AlfaLaval proved resilient and showed a good ability to act fast. Inall, order intake declined by 10.0% compared to 2019and amounted to 41 BSEK and total invoicing was 42 BSEK, a decline of 11.0% compared to the previous year. Despite lower volumes, profitability remained on a high level at 17.4%, essentially unchanged compared to 2019. Thestrong operating margin was supported by our well-diversifiedportfolio and aftersales exposure, but also a result of the costsavings program launched in February focusing on short-termsavings with maximum flexibility. In total, the program reducedfixed costs by 700 MSEK compared to 2019. At the end of2020, a restructuring program was announced to adjust certain businesses in the Marine and Oil & Gas sectorsto more structural changes in demand. The program is estimatedto generate annual savings of approximately 300 MSEK with full effect from 2022.
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Market Coverage
- Market number available for – 2021-2029
- Base year- 2021
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Economizer Market Report Segment
By Type
- Fluid Economizer
- Air Side Economizer
By Application
- Power Plants
- HVAC
- Boilers
- Refrigeration
- Others (Data Centers)
By End-User Industry
- Industrial
- Commercial
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Economizer Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
Reasons to Buy from us –
- We cover more than 15 major industries, further segmented into more than 90 sectors.
- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
- Our expert research analysts answer all your questions before and after purchasing your report.
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