November 11th, 2021 Emergen Research Releases
Surging demand for industrial and municipal wastewater treatment and rising need to reduce air pollution are some of the major factors driving market revenue growth
According to Emergen Research, the global ozone generator market size was USD 998.10 million in 2020 and is expected to reach USD 1,590.40 million in 2028 and register a revenue CAGR of 5.9% during the forecast period, 2021-2028.
The global ozone generator market revenue growth can be primarily attributed to factors such as increasing levels of environmental pollution worldwide, rising cases of health issues caused by air pollution, growing demand for ozone generators across the industrial, commercial, municipal, and residential sectors, and stringent environmental regulations imposed by central and local governments. Rise in industrial and commercial activities globally, increasing levels of greenhouse gas (GHG) emissions and release of other ozone-depleting substances, increasing cases of health issues caused by air pollution, and rising demand for ozone for treatment of industrial and municipal wastewater are among the other important factors accounting for the global ozone generator market revenue growth.
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Ozone generators are used to treat the impurities present in air, and these machines also help treat liquid wastes such as phenols and cyanides and clean and deodorize gases released from sewage. Increasing research activities to develop more advanced and portable ozone generators for residential or private uses, growing awareness about the effectiveness of these devices in killing the novel coronavirus, and increasing cases of COVID-19 worldwide are further expected to bolster market revenue growth. However, unfavorable factors such as lung, throat, and eye irritation and chronic respiratory diseases like asthma caused by prolonged exposure to ozone gas are expected to restrict the global ozone generator market revenue growth to a significant extent over the forecast period.
Corona Discharge Technology Segment Accounted for Largest Revenue Share in 2020:
Based on technology, the global ozone generator market is segmented into corona discharge, cold plasma, ultraviolet, and electrolysis. The corona discharge segment accounted for the largest revenue share in the global market in 2020 due to favorable factors. Growth of this segment is majorly attributed to increasing availability of corona discharge ozone generators at reasonable/affordable prices and rising demand for these devices in various industries as they produce medical-grade ozone.
Asia Pacific Accounted for Largest Revenue Share in 2020:
Among regional markets, the Asia Pacific ozone generator market accounted for the largest revenue share in the global market share in 2020. Factors such as rapid industrialization and urbanization – particularly in developing countries like China, India, and Japan – rapidly rising levels of environmental pollution, increasing adoption of air and water treatment technologies such as ozone disinfection, and presence of leading industry players in the region, including Toshiba Corporation, Mitsubishi, and Daikin Industries Ltd., are key drivers for the Asia Pacific market growth.
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Major Companies in the Market Include:
For the purpose of this report, Emergen Research has segmented the global ozone generator market based on technology, application, end-use, and region:
Technology Outlook (Revenue, USD Million; 2018–2028)
Application Outlook (Revenue, USD Million; 2018–2028)
End-use Outlook (Revenue, USD Million; 2018–2028)
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Region Outlook (Revenue: USD Million; 2018–2028)
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