Persistence Market Research
Global Economizers Market Introduction
With the growing regulations and restrictions pertaining to energy conservation and reduction of fuel consumption, global economizers market is expected to create significant growth opportunities for industry incumbents during the forecast period. An economizer is a mechanical device which acts as a heat exchanger by preheating the feed water to improve the efficiency of the process. Economizers utilize residual heat from combustion products i.e. fuel gases, thereby improving thermal efficiency of the process as the process then requires relatively lesser fuel for the pre-heating the water in order to produce steam. Thus, economizers help in fuel saving and economizing the process and hence are referred to as economizers. Economizers offer numerous benefits, such as waste heat recovery and reduction of carbon emissions. These economizers also help in cooling gases in power plants prior to desulphurization. Thus, economizers help in cost reduction and water conservation. Improved and more efficient economizers are being developed to further improve the efficiency of the process.
Global Economizers Market Dynamics
Increasing government regulations aiming to minimize fuel consumption and to ensure energy conservation have led to the growth of the global economizers market over the recent past. Reportedly, use of economizers enhances the fuel economy by around 5-7%. They also help in achieving a general reduction in cost and improved operational efficiency. Moreover, the rapid growth in the end use industries, such as construction, power generation, especially in the developing regions with rising urbanization and industrialization, is another major factor driving the growth of the market.
However, economizers are susceptible to corrosion which further results in economizer tube failure. Also, in some cases, condensation of flue gases can lead to the formation of acids, which eventually leads to cracking and corrosion problems in economizers. De-aerator cracking, fuel line erosion and overheating are some of the other major challenges that are encountered in economizers. Thus, economizers necessitate regular maintenance.
Significant research and development efforts are being made to create energy efficient and advanced economizers. Newly developed modulating powered economizers have a variable speed fan which is used for high flue gas temperatures and for condensation applications. These economizers efficiently serve multiple boilers, omitting the need for installation of an economizer for every single system. Additionally, in the current scenario, sensors and actuators are being used in economizers to improve process efficiency and to detect and remove failures at the earliest. Moreover, manufacturers, these days, are designing customized economizers made from specific materials to cater to specific requirements and respective working conditions.
Global Economizers Market Segmentation
The global Economizers market can be segmented on the basis of product type, application, sales channel and region.
On the basis of type of product type, global economizers market can be segmented into:
On the basis of application, the global economizers market can be segmented into:
On the basis of sales channel, the global economizers market can be segmented as:
Global Economizers Market: Regional Outlook
The Asia Pacific region is projected to dominate the global economizers market owing to the growing demand from the new power generation plants, construction sector and due to the rapid industrialization in countries, such as India. North America and Europe, together, represent a significant share in the global economizers market owing to stringent regulations regarding energy conservation, increasing emphasis on use of renewable sources of energy and efforts towards reduction of harmful carbon emissions. Latin America is projected to witness significant growth during the latter half of the forecast period. This can be attributed to increasing investments in the region aiming towards the growth of various end use industries. Middle East and Africa is projected to grow at a steady rate over the forecast period.
Global Economizers Market Participants
Some of the market participants identified across the value chain in global economizers market are:
Johnson Controls, Honeywell International Inc., Thermax Limited, SAACKE GmbH, Alfa Laval AB, Cleaver-Brooks, SECESPOL Sp. z o.o., Sofame Technologies Inc, Kelvion Holding GmbH, Clyde Bergemann Australia, and Green's Power, among others.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
The main aim of the report is to:
MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.