Ozone Generators Market - Forecasts from 2021 to 2026
The ozone generators market is expected to grow at a compound annual growth rate of 7.36% over the forecast period to reach a market size of US$835.020 million in 2026 from US$507.925 million in 2019. Ozone generators have many applications in the industrial water treatment and purification, food, and beverage industry as they produce ozone for the treatment, purification, and disinfection of air and water. They are used in various industrial applications to improve the overall shelf life of products and to reduce the risk of product contamination.
Rapid industrialization and urbanization with consumers spending power are the factors that are driving the growth of the market. Industries such as automotive, construction, food, or healthcare have a high demand for ozone generators. Rapid industrialization and expansion of construction or manufacturing industries are fuelling the growth of the ozone generators market. Asia-Pacific is expected to be the global leader in the ozone generators market as it is the world's largest food, beverage, and tobacco producer in the world.
Globally, the population is rising day by day which has increased air pollution to a great extent. China is the most populous country in the world with a population of more than 1.4 billion followed by India. In 2018, India has a population of over 1.355 billion people and its population growth is expected to continue by 2050. It is expected that by 2030, India will become the most populous country in the world. The increasing number of populations has increased the demand for ozone generators to get rid of air pollution and is expected to be the major driver for the growth of the market during the forecasted period.
The Asia Pacific is expected to dominate the market over the forecast period. Frequent incidents of sick house syndrome, asthma, and novel coronavirus disease have raised public concern about this infectious disease. The increasing air pollution and contaminated air hugely impact the health of the people due to which the sales of the ozone generators are continuously rising in countries such as China, India, South Korea, and Japan.
The high operational and maintenance cost of ozone generators is one of the major challenges faced by this market. Ozonation costs are relatively high in comparison with other disinfectant techniques. The capital costs and maintenance expenditure of the ozone generator is quite high and act as a restraint on the growth of the ozone generators market.
Lack of awareness about the use of ozone generators. ozone generators are a new concept for many countries which are still using traditional water disinfectant techniques. The lack of awareness about its application of ozone sanitization and disinfection amongst consumers can be seen as a big challenge for the growth of the market.
Many countries are taking initiatives of investing in the wastewater treatment systems of developing countries where people are facing a shortage of clean and safe drinking water. This initiative is expected to offer an opportunity for the ozone generator market to grow in developing countries.
Covid-19 Pandemic has a positive impact on the ozone generator market. Ozone generators are used by healthcare providers, shops, and many other public places during the pandemic because covid-19 is an airborne virus, and ozone is proven to be effective for the inactivation of the Sars-cov-2-virus. So, to stop the spread of the virus these generators are used by schools, restaurants, hospitals, clinics, and others.
The increasing demand for ozone generators has led to the entry of several new players in the ozone generators market. Now, to increase their clientele as well as increase their market share in the upcoming years, many of these market players have taken various strategic actions like partnerships and the development of novel solutions, which is expected to keep the market competitive and constantly evolving. Major Market Players such as Oion Technologies, Forever Ozone Store LLC, A2Z Zone Inc., Ozone Clean, Jenesco, Inc., Enaly Ozone Generator, Ebara Corporation, ESCO International.
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