Economizer Market Size, Share & Industry Analysis By Type (Fluid or Water Side Economizer and Air Side Economizer), By Application (Boilers, Power Generation Systems, Data Center Processing, HVAC Systems, and Others), By End-User (Industrial and Commercial), and Regional Forecast till 2032

The global economizer market is expanding owing to the rising product adoption across numerous applications such as power generation units and boilers. An economizer is a mechanical device used to reduce energy consumption and act as an energy efficiency product, particularly in industrial processes. The major purpose of an economizer is to reduce operational costs by utilizing waste heat to preheat fluids, typically water or air, before they enter the heating or cooling process.

The expansion of industrial operations fuels the growth of the market. Additional factor supporting industry expansion is the adoption of energy-efficiency products worldwide.

Economizer Market Driver

Growing Demand for Economizers in Power Plants to Boost Market Growth

Economizers are widely used in power plants to cool down gases during the operations of desulphurization. Moreover, it acts as a heat exchanger device by conserving the residual heat generated which is produced by boilers. Such daily industrial activities are boosting the demand for the economizer worldwide. It is expected to grow over the upcoming years as industrial activities are expanding in developing regions.

Economizer Market Restraint

Increasing Environmental Apprehension May Hinder Market Growth

The strict environmental policies and regulations by government bodies are hindering the market growth of economies. For example, cumulative emissions of CO2 resulting from the combustion operations which has passed out by power plants are expected to negatively impact the global economizer demand. In addition, the equipment requires regulation of the humidity which can be problematic to the process. Such factors have led to a drop in the demand for economizers in recent years.

Economizer Market Opportunity

Awareness Regarding Energy-Efficient Products Drives Product Demand

Economizer is one of the energy efficient products in the market. The growing demand for energy-saving products is driving the global market. Economizers can recover the efficiency of industrial boilers and commercial HVAC systems. Moreover, it helps to reduce energy consumption particularly in the cold climate. Such factors can create demand for the economizer globally over the forecast period.

Segmentation

By Type	By Application	By End User	By Geography
Fluid or Water Side Economizer Air Side Economizer	Boilers Power Generation Systems Data Center Processing HVAC Systems Others	Industrial Commercial	North America (U.S. and Canada) Europe (U.K., Germany, France, Spain, Italy, Russia, and the Rest of Europe) Asia Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia Pacific) Latin America (Brazil, Mexico, and the Rest of Latin America) Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)

Key Insights

The report covers the following key insights:

• Recent Advancements in Economizer


• Key Industry Trends


• Regulatory Landscape for Economizer


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Market

Analysis By Type

Based on type, the market covers fluid or water-side economizers and air-side economizers.

The fluid or water-side segment is expected to dominate the global market. This is owing to the wide range of applications at the industrial level. In addition,  fluid or water side economizer is further classified as fluid economizers for chilled water systems and fluid economizers for glycol DX systems make it ideal for several applications.

The air-side economizer segment is the fastest growing segment in the global market, driven by the simple mechanism that uses natural air to cool down the temperature.

Analysis By Application

Based on application, the market is divided into boilers, power generation systems, data center processing, HVAC systems, and others.

The power generation systems segment dominates as it is widely used as heat exchangers in power plants. The boilers segment is the fastest-growing segment globally. This is owing to the rising sales of boilers in regions such as Europe. HVAC systems are one of the major contributors to the global economizer market. This is due to the change in climate in recent years.

Analysis By End User

Based on end user, the market is divided into industrial and commercial.

The industrial segment dominates, driven by the expansion of industrial operations in multiple sectors such as energy & power, infrastructure, and others. The commercial segment is the fastet growing segment in recent years. This is owing to the application of the economizer in commercial buildings such as hotels, malls, offices, and others. It is expected to grow over the forecast period as commercialization is expanding in many countries such as India and Gulf countries.

Regional Analysis

Based on region, the market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The Asia Pacific is expected the dominate the global economizer market due to the growing construction activities along with industrialization. Countries in Asia Pacific will continue to grow during the forecast years due to the increasing focus on renewable energy. For instance, in 2024, as per data provided  by the International Energy Agency, the Asia Pacific consumes the largest amount of energy in the world, with the consumption being about 291.8 exajoules in 2023.

North America is one of the dominating regions globally, driven by the availability of cutting-edge technology economizers.

Europe is also delivering a major share in the the global market owing to the availability of the manufacturers and services of economizers in developed countries. Countries such as Saudi Arabia and the UAE are speeding up in energy-efficient products and are expected to grow over the upcoming years. The Middle East market is rapidly growing due to the increasing commercialization activities in the region.

Key Players Covered

The global market is fragmented in terms of the number of providers. Various market developments and strategic initiatives are anticipated to drive market growth. For instance, in July 2023,

a team of scientists at West Virginia University is creating a modern-age hydrogen flexible boiler to help decarbonize the food and beverage industry and finally eliminate greenhouse gas emissions. The team is about to install an economizer to recover the waste heat from the exhaust gas.

The report includes the profiles of the following key players:

• Honeywell International Inc (U.S.)


• Schneider Electric (France)


• Saacke GMBH (Germany)


• Cleaver-Brooks (U.S.)


• Kelvion Holding GmbH (Germany)


• Stulz Air Technology Systems, Inc (U.S.)


• Johnson Controls (Ireland)


• Babcock & Wilcox Enterprises Inc (U.S.)


• SECESPOL Sp. z o.o. (Poland)


• Cain Industries (U.S.)


• Alfa Laval (Sweden)


• Thermax Limited (India)


• Belimo Holding AG (Switzerland)

Key Industry Developments

• In January 2024, Wärtsilä, the technology group, signed a contract agreement with SAACKE, the German supplier of industrial machinery. The contract reinforces the companies’ ability to offer a complete range of foremost technology solutions to shipyards and ship owners. That will cover SAACKE’s Boilers, air-cooled Gas Combustion Units, and Exhaust Gas Economizers, along with other equipment.


• In May 2022, Mitsubishi Heavy Industries developed a binary power generation system based on Organic Rankine Cycle technology largely for waste heat recapture from sulfur-free fuel-burning engines. This includes steam turbines, waste gas economizers, and power turbines.