Dublin, Feb. 20, 2024 (GLOBE NEWSWIRE) -- The "Ozone Generator Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The ozone generator market has grown strongly in recent years. It will grow from $1.44 billion in 2023 to $1.54 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The expansion observed in the historical period can be attributed to various factors, including heightened concerns about air and water pollution, an increased demand for water treatment and purification solutions, the implementation of stringent environmental regulations and standards, expanded applications in both industrial and municipal sectors, and a growing need for effective odor and VOC (volatile organic compounds) control.
The ozone generator market is expected to see strong growth in the next few years. It will grow to $2.08 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The anticipated growth in the forecast period can be linked to several factors, including the adoption of ozone generators for aquaculture and fish farming, the integration of ozone technology in laundry and textile industries, the expansion of ozone therapy in wellness and medical spa settings, a heightened emphasis on ozone treatment in pharmaceutical and biotech industries, and a growing demand for ozone generators in HVAC (heating, ventilation, and air conditioning) and air purification. Notable trends in the forecast period encompass the development of modular and scalable ozone generation systems, advancements in electrode and dielectric materials, ozone generation using pulsed corona discharge (PCD), the integration of IoT (Internet of Things) and remote monitoring, and the application of ozone in wastewater treatment.
The expected surge in investments to upgrade and expand wastewater treatment facilities is anticipated to drive the ozone generator market's growth. In April 2021, the United States Environmental Protection Agency (EPA) announced $6.5 billion in new funding for water infrastructure projects, accelerating investment in critical water infrastructure across various communities. Consequently, the increasing investments in wastewater treatment facilities are expected to drive demand for ozone generators in the forecast period.
The growth of the paper and pulp manufacturing industry is poised to contribute to the ozone generator market's expansion. According to a February 2021 report from the Confederation of European Paper Industries (CEPI), the economic recovery led to a 5.0% to 5.8% increase in paper and board production across Cepi member nations in 2021. The growth was observed in nearly all paper and board grades, resulting in a total production of 90.2 million tonnes. This surge in production is notable in countries like China, the US, Japan, India, Korea, and Canada, contributing to a 3% worldwide increase in paper and board production in 2021. Hence, the growing paper and pulp manufacturing industry is a driving force behind the ozone generators market's growth.
Innovation in product development stands out as a significant trend in the ozone generator market, with companies introducing new products equipped with innovative technologies to meet industry demands and enhance global business presence. In March 2021, SUEZ SA, a French-based water and waste management company, launched Ozonia L, the next generation of large-capacity ozone generators. Ozonia L offers substantial ozone production on a compact footprint, featuring a web-enabled interface and real-time system optimization for enhanced energy efficiency and reduced total cost of ownership. This product incorporates cutting-edge technology developed in SUEZ's Ozonia innovation labs, solidifying their position as innovators and leaders in the disinfection and oxidation field.
Major companies in the ozone generator market are also developing innovative products like geodesic ozone generators to cater to a broader customer base, increase sales, and boost revenue. A geodesic ozone generator produces ozone (O3) through the ozone generation process. In October 2023, AquaStar Pool Products, a US-based pool technology company, introduced the PureStar Ozone System. This self-contained geodesic ozone generator, known for its simplicity in installation, is compatible with nearly all variable-speed pumps without increasing energy consumption. Its patented plug-and-play design seamlessly integrates in-line, requiring less than 18 inches of horizontal pipe. Featuring a venturi injector with self-regulation, it ensures hydraulic system efficiency, making it effective even when operating at lower speeds.
In March 2022, Konica Minolta, Inc., a Japan-based multinational technology company, entered a strategic collaboration with Tamura TECO Co., Ltd. to jointly develop ozone generators effective in disinfecting viruses, preventing the spread of COVID-19, and maintaining a safe and hygienic environment. Tamura TECO Co., Ltd., a Japan-based company, specializes in the manufacturing and distribution of ozone-related products.
Report Scope
Markets Covered:
1) By Type: Large Ozone Generator (>5kg/h); Middle Ozone Generator (100 gm/h- 5 kg/h); Small Ozone Generator (< 100 gm/h)
2) By Technology: Corona Discharge; Ultraviolet Radiation; Electrolysis; Radiochemical
3) By Application: Water Purification; Air Purification; Pulp Bleaching; Organic Synthesis; Aquaculture; Food Processing; Surface Treatment; Medical & Aesthetics; Other Applications
4) By End-user: Municipal and Industrial Water Treatment; Residential and Industrial Air Treatment; Automotive; Food and Beverage; Paper and Pulp; Pharmaceuticals; Semiconductors; Other End-Users
Key Companies Mentioned: Suez Utilities Company; Mitsubishi Electric Corporation; Ebara Corporation; Toshiba Corporation; METAWATER Co Ltd.
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
A selection of companies mentioned in this report includes:
- Suez Utilities Company
- Mitsubishi Electric Corporation
- Ebara Corporation
- Toshiba Corporation
- METAWATER Co Ltd.
- Daikin Industries Ltd.
- Ozone Tech Systems
- Primozone AB
- Lenntech B.V.
- Ecozone Technologies Ltd.
- Electrolux AB
- Honeywell International Inc.
- Oxyzone
- Ozone Solutions Inc.
- Biozone Corporation
- DEL Ozone
- Sharp Corporation
- Sun-Belt USA
- Whirlpool Corporation
- BES Group
- Chemtronics Technologies (India) Pvt. Ltd.
- Degremont Technologies
- Enaly Ozone Generator
- Faraday ozone
- Xylem Inc.
- Corotec Corporation
- MKS Instruments Inc.
- Ozomax Limited
- Qingdao Guolin Industry Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/414pi4
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