Ozone Generation Market Forecasts to 2028 – Global Analysis By Technology (Cold Plasma, Corona Discharge), Application (Potable Water Treatment, Medicine), End User (Commercial, Industrial) and By Geography
According to Stratistics MRC, the Global Ozone Generation Market is accounted for $0.74 billion in 2022 and is expected to reach $1.22 billion by 2028 growing at a CAGR of 8.6% during the forecast period. Ozone generator refers to a device used to convert oxygen from sources like ambient air, concentrated oxygen, or dry air into ozone. This system can produce ozone by adding energy to the oxygen molecules, which results in the separation of oxygen atoms and allows for temporary recombination with other oxygen molecules. Ozone solutions are used as an effective method to prevent biological coating and eliminate airborne viruses, spores, and bacteria.
Qatar had the largest population-weighted concentration of ambient ozone pollution in 2019, at 67.2 part per billion. This was closely followed by Nepal. Countries with high concentrations of ozone pollution were typically located in the Middle East and South Asia. In 2019, the seasonal population-weighted concentration of ozone pollution in Laos amounted to around 42 parts per billion. This was an increase from 2000, in which the seasonal population-weighted concentration of ozone pollution in Laos amounted to just over 32 parts per billion.
Market Dynamics:
Driver:
Rise in need for clean drinking water
Ozone is considered to be one of the best oxidants. It is the most powerful disinfectant which is majorly used for water treatment in various industries. Increasing demand for clean water in various regions for drinking purposes is predicted to be the major driving factor for the global market in the estimated period. In addition, there has been a steep rise in the population across the globe due to which the demand for clean drinking water has also increased, which is predicted to be one of the major driving factors for the market in the estimated period. Moreover, rapid urbanization across the globe is predicted to drive the global ozone generation market in the forecast period.
Restraint:
High installation & operational cost of ozone generation systems
The installation cost of ozone generators is predicted to be very high which may hinder the market growth in the forecast period. Due to the high-cost factor, most of the places cannot afford ozone generators. The operational cost of various ozone generators is also on a higher-end, which is predicted to be the biggest restraint for the global market in the forecast period.
Opportunity:
Development in ozone generation technologies particularly in emerging countries
Advancements in ozone generation technologies are expected to drive market revenue growth during the forecast period. Recent advancements in ozone-based advanced oxidation processes for the treatment of wastewater are resulting in increasing demand for ozone generation technology. Ozone-based Advanced Oxidation Processes (AOP) offers more enhanced treatment efficiency and are considered a good option for removing recalcitrant organic materials in wastewater by oxidation reactions with hydroxyl radical.
Threat:
Lack of awareness regarding ozone generators
The market for ozone generation has still not penetrated in some of the developing and underdeveloped countries owing to a lack of awareness amongst the consumers regarding the benefits of ozone generation technologies. Moreover, the lack of awareness among the masses regarding residential applications of ozone for sanitization and disinfection is a threat to the growth of the ozone generation market.
Covid-19 Impact
The pandemic is predicted to have a negative impact on the global ozone generation market. Ozone generators are used in food and beverage processing and chemical industries for purification purposes. As in chemical industry the ozone generators are used for dis infection and oxidation processes. The lockdown due the COVID-19 pandemic has forced businesses to shut down indefinitely. Once the unlock process starts, the market is expected to increase dramatically in terms of revenue.
The potable water treatment segment is expected to be the largest during the forecast period
The potable water treatment segment is expected to be the largest share due to the high demand for clean drinking water owing to the increase in population and urbanization over the years. Thus, potable water treatment is anticipated to show a high growth rate along with a significant return on investment for the stakeholders, owing to its notable revenue contribution.
Region with largest share:
North America is projected to hold the largest share in the market due to the escalating awareness associated with the benefits of ozone generation technologies and the rapid rise in the population. This market growth can be credited to the enforcement of regulations to support municipal wastewater treatment plants, along with the increasing air pollution. Nearly 68 million tons of pollutants were emitted into the atmosphere in the U.S., thereby amplifying demand for robust ozone generation systems in the region.
Region with highest CAGR:
The Asia Pacific is projected to have the highest CAGR due to the growing industrialization and increase in disposable income of the population in China and India. The region is attracting investors to set up production facilities because of the availability of raw materials and labor at lower prices. It has witnessed significant growth in manufacturing activities due to low manufacturing costs and the support of the local governments. Increasing investments in R&D activities related to wastewater treatment are driving the growth of the market in this region.
Key players in the market
Some of the key players profiled in the Ozone Generation Market include Corotec Corporation, Creative OZ-Air India Pvt. Ltd., Daikin Industries Ltd., Ebara Corporation, and Faraday Ozone, Industrie De Nora S.p.A., METAWATER Co., Ltd., Mitsubishi Electric Corporation, MKS Instruments, Inc, Ozone Tech Systems OTS AB, Spartan Environmental Technologies LLC, SUEZ, Teledyne API Inc. , Toshiba Corporation, and Xylem, Inc.
Key developments:
In August 2020: Faraday Ozone launched ozone-based food detoxifier. Ozodip is a compact electrical product that generates ozone from the oxygen in the atmosphere and uses it to detoxify the food.
In July 2020: Ozone Tech Systems OTS entered partnered with Lohja Municipality to introduce a pharmaceutical treatment. This will be Finland's first municipality to install advanced technology for eliminating water pollution by ozone generation technology.
In January 2018: MKS Instruments announced the launch of the MKS new lab program. The program, which is free to join, includes high-quality products and solutions across lasers, photonics, optics, opto-mechanics, and motion and vibration control.
Technologies Covered:
• Cold Plasma
• Corona Discharge
• Electrolysis
• Ultraviolet Radiation
• Radiochemical
Capacities Covered:
• ≥ 5 GM/HR
• 5 GM/HR - 100 GM/HR
• 100 GM/HR - 1 KG/HR
• 1 KG/HR - 5 KG/HR
• > 5 KG/HR
Applications Covered:
• Air and Gas Treatment
• Potable Water Treatment
• Medicine
• Waste Water
End Users Covered
• Commercial
• Industrial
• Municipal
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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