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 include rising demand for clean and reusable energy and use of economizer in Heating Ventilation and Air Conditioning (HVAC) applications. Moreover, an increase in constructional activities and growing usage of refrigeration in the medical and automotive domain is also estimated to be a major factor that is fuelling the growth of the market. Economizer has been used to cool external environment temperature to preserve hardware for the 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 the 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 an economizer. The fluid economizer and airside 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, the economizer is used as a heat exchanger to preheat fluid resulting in energy conservation. The 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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The 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, the market is bifurcated into North America, Europe, Asia Pacific and Rest of the World. The 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.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- 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
Global 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
The Report Covers
- Comprehensive research methodology of the global Economizer market
- In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global Economizer market
- Insights about market determinants which are stimulating the global Economizer market
- Detailed and extensive market segments with regional distribution of researched revenues
- Extensive profiles and recent developments of market players
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