Ozone Generation Technology Market Size & Growth (2019 – 2024)
The global market for Ozone Generation Technology is anticipated to grow at a CAGR of roughly 6.10% over the following five years to reach 20.0 million USD in 2024, from 14.0 million USD in 2019.
Ozone offers many benefits in terms of greater overall disinfection capacity and greater processing speed as opposed to another disinfectant such as chlorine and UV, making it the multiple favored among end-users. High oxidation potential and quicker processing time, no harmful by-product and long-run cost benefits are some of the main advantages of ozonation. Ozone generation is used for purifying water, equipment and sanitizing the air. It is also used for the therapy of disorders such as cancer and AIDS and for bio-waste treatment. The most basic type of ozone generation technology is corona discharge. Ozone can also be fabricated using traditional methods such as UV light and by electrolytic method, which gives higher concentration and purity. The increasing demand to treat wastewater in order to make it portable and useful for other purposes is driving the growth of the ozone generation technologies market.
Ozone generation technologies are commonly used for treating water and air or gas. Ozone technology equipment has encouraged growth in the wastewater treatment equipment for industries, for sewerage treatment in municipalities, and other wastewater treatment in commercial sections like swimming pool, spas and others. Municipalities are updating from traditional chlorine-based disinfection to UV and ozone technology-based. This has happened in a boost in the ozone generation technologies market. Among these applications, wastewater treatment accounts for approximately three-fourths of the overall market. The air or gas treatment section is the fastest-growing share of the market.
This research report is segmented & sub-segmented into the following categories:
Ozone Generation Technology Market Analysis – By Type
- Less than 3g/h
- More than 9g/h
Ozone Generation Technology Market Analysis – By Application
- Medical Application
- Industrial Application
Ozone Generation Technology Market Analysis – By Region
- North America - US, Canada, Mexico and Rest of North America
- Europe - UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe
- APAC - India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore and Rest of APAC
- Latin America - Brazil, Argentina, Chile and Rest of Latin America
- Middle East and Africa - KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA
Regionally, Fast industrialization in the Asia Pacific coupled with growing disposable incomes in emerging markets of India and China provides immense opportunity to members operating in the ozone generation technologies market. Increasing industrialization in the Asia Pacific has increased usage of water and hence the volume of wastewater, which increases the need for wastewater treatment by various means. Market inclinations involve an increased need for water and air treatment in emerging countries.
Wastewater treatment regulations in some countries lead to a modification in their disinfection techniques to improve the safety level of water. Regulatory bodies in advanced economies of North America and Europe have been supporting the use of ozone generation technologies which has more boosted the market for the ozone generation technologies market. The leading players in the global ozone generation market focus on product improvement and agreement as their essential strategies to gain significant market share.
Top companies in the market
Some of the global players in the ozone generation technologies market are Vermont Inc., Ozomax ltd., Pacific Ozone Technology Inc., Ebara corp., Mitsubishi Electric Power Inc., and Degremont Ltd., among others. Some of the big players have increased the standards of ozone-generating products by introducing great efficiency and low power ozone equipment in the ozone generation technologies market.
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