The global economizers market is significantly growing due to the iIncreasing usage of economizers in different application, such as power plants and boilers, and thermal power plant for boilers. The demand for energy is growing rapidly in the developing countries such as India and China that result in setting up of new power plants and these power plants require boilers, which results in contributing to the rising usage of economizers for these boilers. Increasing government regulations and the reduction of fuel consumption are propelling the growth of the market.
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Increasing demand for cost-effective cooling, clean energy, and power-efficient boilers are the key factors that are projected to drive the economizers market. Economizers used as a heat exchange device to conserve the residual heat generated through boilers in power plants. The demand for electricity is increasing across the globe, which results in the installation of new fossil fuel-based power plants. The thermal power plant uses steam energy for the generation of electricity from fossil fuel, such as oil, natural gases, and coal. The process of electrical power generation in a coal-fired thermal power plant is one of the most conventional methods. The enhanced size needs an increase in fuel requirement. The power generation process is becoming more cost effective. Thermal power plants have hundreds of sophisticated instruments and each has a certain amount of power loss, which results in decrease in efficiency of the plant, restricting to 20% to 26% depending upon the plant capacity.
Industrial boilers encompass the category of boilers used in processing, manufacturing, refining, and mining to offer hot water, steam, and electricity. It is located at facilities in the chemical, paper, food, and primary metal industry and refining. It is used for heating with hot water and steam in industrial process applications. Commercial boilers are the category of boilers used in the commercial sector, includes restaurants, stores, apartment buildings, hotels, office buildings, and laundries to provide steam. There is a different type of Industrial, Commercial and Institutional (ICI) boilers such as pulverized coal, fluidized bed, stoker, water tube and fire tube. The boiler economizer is a tube heat exchanger that is located in the final part of the convective duct.
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Current Market Trends Covered In the Report
· Based on the application, the power plant during the forecast period.
· Asia-pacific is one of the largest markets for economizers.
· North America and Europe held a significant share during the forecast period.
Global Economizers Market Segmentation
By Type
· Fluid Economizers
· Air Side Economizers
By Application
· Power Plants
· HVAC
· Boilers
· Refrigeration
· Others (Construction)
By End-Use Industry
· Industrial
· Commercial
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
