the “Economizers Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” report was added to ResearchAndMarkets.com offer.
The Economizer market is expected to grow at a CAGR of over 4% during the forecast period.
Honeywell International Inc.
Johnson Controls International PLC
BELIMO AIRCONTROLS (USA), INC
SWEP International AB
STULZ Air Technology Systems, Inc.
SECESPOL Sp. Zoo
Key market trends
Growing demand for power plant economizers
Economizers are mechanical devices intended to reduce energy consumption or perform a useful function such as preheating a fluid.
In addition, the economizer is used as a heat exchanger in boilers, power plants, heating, refrigeration, ventilation and air conditioning (HVAC).
An economizer in thermal power plants works as a waste heat accumulator, which is then used to preheat the boiler feedwater.
The tremendous increase in demand for electricity across the world has resulted in an increase in the size of power plants. The process of generating electricity, in a coal-fired power plant, is one of the most widespread and conventional methods.
Therefore, due to the above mentioned factors, the application of the power plant economizer is likely to dominate during the forecast period.
The Asia-Pacific region will dominate the market
The Asia-Pacific region is expected to dominate the economizer market during the forecast period. The increasing demand for the power plant economizer and the increasing application in the commercial sector of developing countries like China, Japan and India are expected to drive the economizer demand in this region.
The largest producers of economizers are located in the Asia-Pacific region. Some of the leading companies in economizer production are Honeywell International Inc., Schneider Electric, ALFA LAVAL, Johnson Controls International PLC and BELIMO AIRCONTROLS (USA), INC, among others.
For example, according to the Japan Refrigeration and Air Conditioning Industry Association, in 2018, the global demand for air conditioners was 110.97 million units.
According to the International Energy Agency (IEA) report, global energy demand from air conditioners is expected to triple by 2050.
According to the Indian ministry, the target for electricity production from conventional sources for the year 2018-19 has been set at 1265 BUs, of which 1091,500 BU come from thermal power plants.
Due to the above-mentioned factors, the economizer market in Asia-Pacific region is expected to grow significantly during the study period.
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Demand for Power Plant Economizers
4.1.2 Other pilots
4.2.1 Increasingly stringent environmental regulations limiting nitrogen oxide and sulfur dioxide emissions from power plants
4.2.2 Other restrictions
4.3 Industry Value Chain Analysis
4.4 Porter’s five forces analysis
5 MARKET SEGMENTATION
5.1 Product type
5.2 Boiling efficiency
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing application of economizer in the waste heat recovery system in the boiler
7.2 Other opportunities
For more information on this report, visit https://www.researchandmarkets.com/r/7n3t4g
See the source version on businesswire.com: https://www.businesswire.com/news/home/20210603005588/en/
Laura Wood, Senior Press Director
For EST office hours, call 1-917-300-0470
For USA / CAN call toll free 1-800-526-8630
For GMT office hours, call + 353-1-416-8900