Ozone Generator Market

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Ozone Generator Market worth US$ 1144.6 Billion 2029 with a CAGR of 6.6 %

The report "Global Ozone Generator Market, By Technology (Corona Discharge, Radiochemical, Electrolysis, and Ultraviolet), By Application (Air treatment and Water treatment (Drinking Water, Industrial Water, and Waste Water)), and Region - Global Forecast to 2029"

Ozone generator market is projected to grow from US$ 642.6 billion in 2020 to US$ 1144.6 billion by 2029. Global ozone generator market is driven by growing demand for ozone generators from water treatment plants. Lack of clean water is raising the need for its recycling and reuse. Ozone is considered one of the most effective sterilizers of water, water pollution and water shortage is propelling demand for water purification. Increase in usage of ozone technologies, and rapid urbanization & demographic growth is another factor fuelling growth of ozone generators market. In addition, stratospheric ozone layer is destroying by increasing air pollution and emission of greenhouse gases (GHG). In order to avoid health problems which are caused by air pollution and particularly production of ozone for purification, air purification systems are in demand. Increasing environment concerns and healthcare problems are other key factors expected to fuel growth of the global ozone generators market over forecast period. Moreover, ozone generators also have its application in swimming pools for water treatment. Thus, government expenditure on upgrading water infrastructure has also increased in the past decades across the globe which in turn, creates major opportunities for growth of the global market

Key Highlights:

On July 2018, International Ozone Technologies Group, Inc. has started using hydroxyl generators for disaster restoration.
On June 2019, Fuji Electric Co., Ltd. has announced an acquisition of leading Indian power electronics manufacturer to expand the power electronics systems business in India.
On October 2018, ESCO International has awarded new contracts to design and supply two industrial AOP pilot systems. The contract involves ozone-based advanced oxidation technologies for the oxidative destruction of VOCs in waste gas stream and TOC in process water for reuse purposes.

Key Market Insights from the report:

The global ozone generator market accounted for US$ 642.6 billion in 2020 and is projected to register a moderate CAGR of 6.6% over the forecast period. The market report has been divided on the basis of technology, application, and region.

By technology, the global ozone generator market is classified into corona discharge, radiochemical, electrolysis, and ultraviolet.
By application, the global ozone generator market is categorized into air treatment and water treatment. Water treatment application segment is further bifurcated into drinking water, industrial water, and waste water. Water treatment is accounted to show highest growth rate along with significant return on investment for the stakeholders. This is attributed due to its notable revenue contribution over the forecast period.
By region, Asia Pacific is accounted for highest revenue share in the global ozone generator market followed by North America and Europe. Growth of ozone generators in Asia Pacific is high, owing to growing industrialization and controlling air pollution caused by it in the region. Growth of the global market in North America and Europe is attributed to favorable government policies towards environment safety and high disposable income in the region.

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The prominent player operating in the global ozone generator market includes Absolute Systems, Inc., Chemtronics Co., Ltd., DEL Ozone, Inc., EBARA Technologies, Inc., ESCO International Ltd., Fuji Electric Co., Ltd., International Ozone Technologies Group, Inc., Mitsubishi Electric Corp., Toshiba Infrastructure Systems & Solutions Corporation, and Suez SA.