Economizers are mechanical devices that are used to make machines energy efficient by lowering their energy consumption. Economizers, owing to their exceptional characteristic of energy conservation and fuel saving, are been widely used in industrial boilers. 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), Kelvion Holding GmbH (Germany), BELIMO Holding AG (Switzerland), Cain Industries (US), Sofame Technologies Inc. (Canada), Cannon Boiler Works (US), Shandong Hengtao Group (China), and MicroMetl Corporation (US) are key players operating in the economizer market.
Acquisitions, contracts, expansions, and collaborations are major growth strategies adopted by leading companies in the economizer market. These companies are also investing in R&D activities to strengthen their product portfolio and enhance their presence in the economizer market.
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Schneider Electric SE is a global specialist in energy management and automation solutions. The company was founded in 1836 and is headquartered in Rueil-Malmaison (France). It operates through 4 business segments, namely, building, industry, infrastructure, and information technology. Schneider Electric SE offers energy saving products under its critical power, cooling, and racks segment. The company focuses on sustainable development and has a broad product portfolio, along with a wide industry coverage. The company also specializes in industrial software design, process & machines management, security management, power management, industrial automation and control, IT room management, simulation and optimization, building management, and safety systems and instrumentation. Schneider Electric SE offers EcoBreeze air economizer products.
The company focuses on the adoption of both, organic and inorganic growth strategies to expand its geographic reach in the economizer market. For instance, in October 2016, Schneider Electric SE and Panasonic Corporation (Japan) jointly developed HVAC equipment and building management solutions to reduce energy consumption in various applications. Furthermore, in February 2014, AREVA (France) and Schneider Electric SE signed a strategic partnership to develop energy management and storage solutions based on the hydrogen fuel cell technology.
Johnson Controls International plc, another key player in the economizer market, was founded in 1885 and is headquartered in Cork (Ireland). In 2016, the company changed its name from Johnson Controls, Inc. to Johnson Controls International plc. The company is engaged in the manufacturing and marketing of building management systems; Heating, Ventilating, and Air Conditioning (HVAC) systems; residential air conditioning and heating systems; security and mechanical equipment; and industrial refrigeration products. It engages in the production and supply of economizer products worldwide.
Johnson Controls International plc adopted inorganic growth strategies, such as mergers, to strengthen its foothold in the economizer market. For instance, in September 2016, the company merged with Tyco (Ireland) to provide building efficiency solutions for commercial buildings, large institutions, retail, and industrial markets.
Related Reports:
Economizer Market by Type (Fluid Economizers and Air-side Economizers), Application (Power Plants, Boilers, HVAC, Refrigeration, and Data Centers), End-use Industry (Industrial and Commercial), Region – Global Forecast to 2022
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