The global ozone generation market is estimated to garner a sizeable revenue and grow at a CAGR of ~7% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing need for clean drinking water, rapidly growing urbanization, and rise in the usage of ozone technologies. According to the Centers for Disease Control and Prevention, by 2030, an estimated 2.2 billion people need access to safely managed drinking water, including th2 884 million who don’t have any basic drinking water services. In addition to these, ozone disinfection for water treatment is a great alternative to chemical methods, such as chlorination as water borne pathogens cannot exist in ozone disinfected water. This is expected to be a crucial factor driving market growth in the upcoming years. Furthermore, increasing investments by developed countries in emerging nations to effectively treat industrial and municipal water is projected to provide ample growth opportunities to the market in the near future.
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The market is segmented by technology into ultraviolet radiation, electrolysis, radiochemical, and corona discharge, out of which, the corona discharge segment is anticipated to hold the largest share in the global ozone generation market on account of the cost effectiveness and low maintenance of corona discharge technology compared to others, and its largescale use in commercial and industrial applications. Additionally, on the basis of application, the potable water treatment segment is predicted to grab the largest share during the forecast period owing to the wide range of applications of ozone generators for water purification, disinfection and de-colorization in wastewater treatment plants. Along with these, strict government regulations for water treatment are also evaluated to drive market growth by the end of 2030.
In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
On the basis of geographical analysis, the global ozone generation market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of the growing industrialization and increase in disposable income of the population in China and India. As per the World Bank, the adjusted national per capita income of China in the year 2019 was USD 8,394, whereas that of India was USD 1,822. Apart from these, rising water consumption is also assessed to drive market growth in the region in the upcoming years. Moreover, the market in North America is expected to gather the largest share during the forecast period owing to the escalating awareness associated with the benefits of ozone generation technologies and rapid rise in the population in the region.
The global ozone generation market is further classified on the basis of region as follows:
Our in-depth analysis of the global ozone generation market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major growth drivers for the market are increasing need for clean drinking water and rapid growth of urbanization around the world.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2030.
Lack of awareness regarding the use of ozone generation techniques is estimated to hamper the market growth.
Asia Pacific will provide more business growth opportunities to the market owing to the growing industrialization and increase in disposable income of the population.
The major players in the market are Xylem, Inc., Ebara Corporation, Industrie De Nora S.p.A., METAWATER Co., Ltd., Spartan Environmental Technologies, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by technology, application, and by region.
The corona discharge segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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