Pune, India, Oct. 21, 2021 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global ozone generation market size had reached USD 0.64 billion in the year 2020 and is likely to account for USD 1 billion by 2027, recording a 6.7% compound annual growth ate during the study period. Rapid industrialization and growing demand for wastewater treatment solutions have primarily resulted in the increased product penetration.
Crucial insights pertaining to the market segmentations, such as the segmental share, estimated growth rate, and its overall contribution towards the market dynamics is elaborated. The report also mentions the geographical reach and the competitive scenario of this business space, ensuring high profitability among investors and entrepreneurs.
An ozone generation system helps in purifying the polluted water to make it drinkable or at least useable. Worldwide governments for a while have been encouraging the use of this technology. In addition, rising environmental cognizance is stimulating global ozone generation industry outlook.
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Strict regulations on how wastewater is treated and increasing importance of natural water conservation are adding traction to the overall market size. Technological advancements and surging investments in this business space is also favoring global ozone generation market scenario.
Despite the positive outlook, lack of awareness could potentially act as a restraining factor to the growth of the market.
Elaborating on the application reach
The application scope of global ozone generation market consists of medicine, air and gas treatment, potable water, waste water, and others.
Summarizing the geographical outlook
The worldwide scope of operations of this business space consists of North America, Asia-Pacific, Europe, Latin America, and the rest of the world.
North America currently accounts for the largest share in global ozone generation industry and is likely to showcase similar growth trends in the subsequent years, primarily due to favorable regulatory scenario which encourages use of the technology.
Meanwhile, Asia-Pacific is also predicted to emerge as a lucrative revenue generating opportunity for the industry participants, owing to rapid industrialization and growing demand for wastewater treatment solutions.
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Global Ozone Generation Market by Application Reach (Revenue, USD Billion, 2018-2027)
- Medicine
- Air and Gas Treatment
- Potable Water
- Waste Water
- Others
Global Ozone Generation Market Regional Contribution (Revenue, USD Billion, 2018-2027)
North America
- Canada
- United States
Latin America
- Brazil
- Mexico
Asia-Pacific
- Japan
- South Korea
- China
- Australia
- India
Rest of Asia-Pacific
Europe
- Spain
- Italy
- France
- United Kingdom
- Germany
Rest of Europe
Rest of the World
Global Ozone Generation Market by Competitive Scope (Revenue, USD Billion, 2018-2027)
- Creative OZ-Air India Pvt. Ltd.
- Ozone Tech Systems OTS AB
- Corotec Corporation
- Teledyne API Inc.
- SUEZ
- Ebara Corporation
- Daikin Industries Ltd.
- Faraday Ozone
- Spartan Environmental Technologies LLC
- Toshiba Corp.
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Ozone Generation Market, by Application, 2019-2027 (USD Billion)
1.2.2. Ozone Generation Market, By Region, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Ozone Generation Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Ozone Generation Market Dynamics
3.1. Ozone Generation Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.1.1. The increasing need to treat wastewater and conserve natural water
3.1.1.2. Stringent regulations regarding wastewater treatment
3.1.2. Market Challenges
3.1.2.1. Lack of awareness amongst the users regarding the advantages of ozone generation technologies
3.1.3. Market Opportunities
3.1.3.1. Development of ozone generation technologies with rising investment by companies
Chapter 4. Global Ozone Generation Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economic
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Ozone Generation Market, by Application
5.1. Market Snapshot
5.2. Global Ozone Generation Market by Source, Performance - Potential Analysis
5.3. Global Ozone Generation Market Estimates & Forecasts by Application 2018-2027 (USD Billion)
5.4. Ozone Generation Market, Sub Segment Analysis
5.4.1. Waste Water
5.4.2. Potable Water
5.4.3. Air and Gas Treatment
5.4.4. Medicine
5.4.5. Others
Chapter 6. Global Ozone Generation Market, Regional Analysis
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Worldwide Hydrogen generation market is likely to witness an exponential rise in terms of revenue over the coming years owing to the growing demand for cleaner energy sources. Hydrogen can be used in fuel cells in order to generate power by using a chemical reaction and not by combustion, generating only heat and water as byproducts. Hydrogen can be utilized in houses, portable power, cars, and in other applications as well. It can be generated by using varied and domestic resources like nuclear energy, natural gas & coal, and other renewable energy sources which are geothermal, wind, biomass, hydro-electric, and solar power by using a broad range of processes. Hydrogen production is achieved through various process technologies which includes electrolytic, wherein water splitting is performed by using several energy resources, photolytic process, where splitting of water is carried out by the use of sunlight through electrochemical and biological materials, and thermal process, where there is renewable liquid and biooil processing, natural gas reforming, and coal gasification.
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