Portland, OR, June 14, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global ozone generation market generated $1.5 billion in 2020, and is projected to reach $2.5 billion by 2030, growing at a CAGR of 5.3% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Significant surge in demand for water purifications and wastewater treatment systems among people, rapid urbanization across the globe, and remarkable application of ozone in various applications such as maintaining food surface hygiene, lowering biological oxygen demand (BOD) and chemical oxygen demand (COD) of food plant waste, and others are expected to drive the growth of the global ozone generation market. On the other hand, high prices of products are expected to hinder the growth to some extent. However, colossal surge in industrialization and increase in awareness about hygiene among people across the globe are expected to create ample opportunities for the growth of the industry.
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COVID-19 Scenario
- The outbreak of COVID-19 has had a negative impact on the growth of the global ozone generation market, owing to the occurrence of lockdowns in various countries across the globe. Lockdowns resulted in the closure of all cinemas and movie theatres during the pandemic due to the stringent social distancing restrictions imposed by the government so as to curb the spread of the virus.
- Thus, the demand for ozone in these public places subsequently decreased which aggravated the impact on the market.
- However, the market is predicted to recoup soon.
The report offers a detailed report on the global ozone generation market based on technology, application, end-use and region.
Based on technology, the corona discharge segment, held the majority market share in 2020, holding two-fifths of the total market. The cold plasma segment, on the other hand is predicted to exhibit the fastest CAGR of 5.6% during the forecast period.
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Based on application, the medical equipment segment held the largest market share in 2020, garnering one-third of the total market. In addition, the same segment is projected to cite the fastest CAGR of 5.6% during the forecast period. Other segments analyzed in the report include waste water, air purification, and food and beverage.
Based on region, the market across North America held the lion’s share in 2020, holding nearly two-fifths of the total market. In addition, the same region, is anticipated to cite the fastest CAGR of 5.8% during the forecast period. Other regions anaylzed in the report include Asia-Pacific, Europe and LAMEA.
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The key players analyzed in the global ozone generation market include Daikin Industries, Ltd., Evoqua Water Technologies LLC, Electrolux, Ebara Corporation, Fuji Electric Co., Ltd., Mitsubishi Electric Corporation, MKS Instruments, Teledyne Technologies, Toshiba Corporation, and Xylem.
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