Ozone Generator Market by Technology (Ultraviolet, Electrolysis, Cold Plasma, Corona Discharge), Application (Laboratory & Medical Equipment, Air Treatment, Water Purification, Others), End-use (Commercial, Industrial, Residential, Municipal), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027
Newark, NJ, Oct. 12, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global ozone generator market is expected to grow from USD 635 million in 2019 to USD 1,066.81 million by 2027, at a CAGR of 6.7% during the forecast period 2020-2027.
Ozone generators are environmentally beneficial devices that are used in air & water treatment due to the strong oxidation effects of ozone, which can break down complex molecules. It removes bad odor and purifies the air by killing bacteria and viruses without using any kind of harmful chemicals. Ozone is also a safe alternative to chlorine for wastewater disinfection since chlorine poses health & environmental hazards. The commercial method to produce ozone gases is by discharging corona using electrical power. Ozone generators find various uses in the treatment of industrial wastewater, municipal wastewater, contaminated groundwater, dye industry wastewater, paper industry wastewater, and swimming pool water, among others. Strict wastewater regulations, growing water scarcity, rapid industrialization & urbanization, especially across developing countries, are some key factors that are driving growth in the global ozone generator market.
With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world's economy and has negatively impacted all kinds of markets, including the ozone generator market. With less disposable income and broken supply chains, the market's growth is expected to slow down.
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Key players operating in the global ozone generator market include Mitsubishi Electric Corporation, Toshiba Corporation, Spartan Environmental Technologies, Faraday Ozone, Daikin Industries, Ltd., Ebara Corporation, Suez, Teledyne API, Corotec Corporation, Ozone Tech Systems OTS AB, Creative Oz-Air (I) Pvt Ltd, and Absolute Systems Inc., among others. To gain a significant market share in the global ozone generator market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Ozonetech Systems OTS AB and Corotec Corporation are some of the biggest manufacturers and suppliers of ozone generators in the global market.
For instance, Ozonetech Systems OTS entered into an agreement with Lohja Municipality in July 2020 to introduce a pharmaceutical treatment. The Ministry of Environment and the ELY Centre (Centre for Economic Development, Transport, and the Environment) are sponsoring this project via the program for efficient water protection in Finland. Lohja will be Finland's first municipality to setup advanced technology for eliminating micropollutant emissions.
In order to boost laminate adhesion and enable accelerated production rates, Corotec Corporation launched a new line of compact ozone generators for use on extrusion coating and laminating lines. At the coating nip, these generators will add ozone to the web, which will drastically increase the bond strength.
Corona discharge segment dominated the market and held the largest market share of 34.1% in the year 2019
Based on technology, the market has been divided into ultraviolet, electrolysis, cold plasma, and corona discharge. Corona discharge dominated the market and held the largest market share of 34.1% in the year 2019. This segment is also expected to expand at a significant CAGR over the projected period due to factors like being able to produce pure ozone & medical-grade ozone without chemicals and availability at mid-range prices.
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Water purification segment dominated the market and was valued at USD 190 million in the year 2019
On the basis of application, the market has been segmented into laboratory & medical equipment, air treatment, water purification, and others. Water purification dominated the market and was valued at USD 190 million in the year 2019. Ozone generators are commonly used for water purification, disinfection, and de-colorization in bottling plants, cooling towers, wastewater treatment plants, swimming pools, & drinking water.
Municipal segment dominated the market and held the largest market share of 37.8% in the year 2019
The end-use segment comprises of commercial, industrial, residential, and municipal. Municipal dominated the market and held the largest market share of 37.8% in the year 2019. Ozone generators are widely used in the treatment of municipal wastewater.
Regional Segment Analysis of the Ozone Generator Market
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)
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On the basis of geography, the global ozone generator market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region accounted for the major market share of 40% in the year 2019 and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as the huge industrial capacity in the region, increasing population, rising awareness about the advantages of ozone generators, and stringent regulations regarding wastewater treatment. On the other hand, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period 2020-2027. This growth is due to factors like rapid industrialization & urbanization, leading to a rise in air pollution & water pollution. Emerging economies like India, Brazil, and China are especially lucrative, considering their growth potential.
About the report:
The global ozone generator market is analyzed on the basis of value (USD Million), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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