New York, USA, Oct. 07, 2020 (GLOBE NEWSWIRE) -- The global ozone generation market accounted for $1,053.0 million in 2018 and has been predicted to generate a revenue of $1,624.6 million by 2026 with a CAGR of 5.2%, according to a new report published by Research Dive. The all-inclusive report provides a brief overview of the current scenario of the market including almost all aspects of the market from growth factors, challenges, restraints and various emerging opportunities. The report also mentions all the market figures making it easier and helpful for the new participants to understand the market.
Ozone is the most powerful disinfectant which is used mostly for water treatment across different industries. The increasing demand for clean and pure water for household purposes is predicted to be the major driving factor for the global market.
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The major restraint behind the growth of the market is the installation cost of ozone generators.
The report has segmented the market based on technology, application, and regional outlook.
Corona Discharge Sub-Segment to Be the Most Lucrative
Corona discharge sub-segment accounted for $427.5 million in 2018 and is predicted to grow with a CAGR of 5.9% in the estimated period. Corona discharge ozone generators create higher quantities of ozone more effectively in a cost effective manner as compared to others such as UV-ozone generation.
Municipal Application Will Be the Most Profitable
Municipal application sub-segment accounted for $353.2 million in 2018 and is predicted to grow with a CAGR of 6.10% in the estimated period. Increasing product demand due to its high oxidizing power and the ability to oxidize heavy material is predicted to drive the municipal application sub-segment in the forecast period.
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Asia-Pacific will continue its dominance
Asia-Pacific market recorded a revenue of $413.8 million in 2018 and is further predicted to grow with a CAGR of 7.3% in the estimated period. The shortage of pure drinking water among the urban population because of the growing urbanization and industrialization is predicted to boost the regional market in the upcoming years.
Key Players and Business Strategies
The report enlists the Top 10 leading players of the Ozone Generation Market include -
- Absolute Systems
- Chemtronics Co. Ltd
- Custom Molded Products LLC
- Dayton Water Systems
- EBARA Technologies Inc.
- ESCO International
- International Ozone
- Mitsubishi Electric Corp.
- Toshiba Infrastructure Systems & Solutions Corporation
- Suez
The report also discusses the other important aspects of the market including economic performance of the leading players, product portfolio, SWOT analysis, and the latest developments in strategies. Click Here to Get Absolute Top Companies Development Strategies Summary Report
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