Ozone Generator Market Size Estimation, Growth Rate, and Future Trends
The global ozone
generator market is expected to display higher growth rate
over the next seven years. The market is subject to witness a substantial
growth due to the growing concerns regarding water and air pollution. Major
applications of ozone generator include water treatment and air purification in
various end-user industries across the globe. In addition, increasing demand
for ozone generator from food & beverages sector for processing application
is anticipated to drive the growth of the market over the forecast period.
Globally, the market is predicted to generate
massive revenue over next seven years, providing numerous opportunities for
market players to invest for research and development in the ozone generator
market. Furthermore, rising adoption of ozone generator from chemical
industries for purification application is expected to favor industry expansion
in the upcoming years. Ozone generators are also used to limit energy
requirements during bleaching process in the chemical industries. Use of
chemical substances during bleaching process can be avoided with the use of
ozone generator. Ozone generator offers advantages such as reduction of time
needed to carry out the entire process and cost efficiency. These factors are
expected to boost market demand for ozone generator over the next seven years.
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Primary application of ozone
generators include water treatment and wastewater treatment. Increasing
adoption of ozone generators for non-conventional applications such as
enhancements in the performance of extrusion coatings are projected to drive
the growth of the market over the next seven years. Use of ozone gas to the
lower temperatures to manufacture lower temperature resins (EVAs) is estimated
to boost market growth in the upcoming years.
Ozone gas enhances properties of
chemical compound, for instance, addition of ozone gas in hydrogen and nitrogen
oxides improves their bonding characteristics, heat scalability, color and
odor, thus amplifying overall product value. The market is broadly categorized
into five major segments based on the application type such as healthcare
sector, semiconductor industry, chemical industry, purified water treatment and
wastewater treatment. The water treatment is considered as one of the fastest
growing segment in the ozone generator market with substantial revenue generation
in the last few years. Growing popularity of ozone generator in the water
treatment segment is attributed to the increasing concerns regarding water
pollution.
The market is divided by region as
North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise in the implementation
of latest technologies, increase in the number of research & development
activities, growing concerns regarding air & water pollution, and existence
of well-established infrastructure.
Asia-Pacific region is predicted to
hold major market share in the ozone generator market with massive growth in
forecast period. Countries such as India, China and Singapore are leading the
Asia-Pacific market with strong economic growth in region, increasing demand
for waste water management, and significant investment by leading industry
players considering potential growth opportunities in the region.
The key players in the ozone generator
market are Honeywell International Inc., Daikin Industries, Ltd., Whirlpool
Co., Sharp Co., Sun-Belt USA, Inc., Electrolux, Inc., Biozone Co., Ozone
Solutions, IN USA, Inc., and Ozo Tech Systems AB.
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