Global Economizer Market to reach USD 15.5 billion by 2027.Global Economizer Market is valued approximately USD 9.9 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6.7% over the forecast period 2021-2027.
Economizers, or economizers, are mechanical devices intended to reduce energy consumption. Its applications include the preheating of boiler feed water, waste heat recovery, Economizers are also used in waste heat boilers and other heating and cooling equipment. Growing demand from data centers and increasing construction market are the main drivers for growth of Economizer market.
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According to Gartner- ???End-user spending on global data center infrastructure is projected to reach USD 200 billion in 2021, an increase of 6% from USD 189 billion in 2020 ., Despite a 10.3% decline in data center spending in 2020 due to the pandemic, the data center market is still expected to grow positively year-over-year through 2024. Also, increasing applications of economizer in various end use industries is expected to grow the economizer market. However, growing pollution from power plants and rising environmental concern impede the growth of the market over the forecast period of 2021-2027.
The key regions considered for the global Economizer market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to growing data center infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such as rising government initiatives for harnessing renewable and clean energy in various countries, such as China and India would create lucrative growth prospects for the Economizer market across Asia-Pacific region.
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Major market player included 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)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type: Fluid Economizers Air-side Economizers
By Application: Power Plants, Boilers, HVAC, Refrigeration, Data Centers
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By End Use Industry: Commercial Industrial
By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE
Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019 Base year – 2020 Forecast period – 2021 to 2027
Target Audience of the Global Economizer Market in Market Study:
Key Consulting Companies & Advisors Large, medium-sized, and small enterprises Venture capitalists Value-Added Resellers (VARs) Third-party knowledge providers Investment bankers Investors
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