Future Market Insights
Ozone is a naturally occurring gas in the atmosphere. It is made up of three oxygen atoms. Ozone is a highly unstable and reactive toxic gas, which combines with other gases in the air. Ozone found in the stratosphere is called stratospheric ozone and protects living things from the harmful ultraviolet (UV) rays of the sun. Whereas, the ozone at the ground level is toxic and harmful for the respiratory system. Ozone generator is a device that emits ozone into the air. It is mainly used to clean and purify the air without the use of chemicals. It helps to kill bacteria, viruses, eliminate odours and sanitise home, office, kitchen, hotel and car among others.
On the basis of technology, the ozone generators is segmented into cold plasma ozone generation and corona discharge (CD) ozone generation. In cold plasma technique, the gas is partially ionized and created in room temperature. The ionization takes place between two electrodes, which are separated by an insulating barrier. Corona discharge technique produces ozone by channelling air into corona discharge tube. This is done by applying strong electrical field. Corona discharge technique is commonly used for industrial applications.
Ozone generators can be used for industrial, commercial and residential buildings. Increasing demand from emerging economies as well as increased industrialisation and manufacturing will boost the growth of the global Ozone Generators market during the forecast period.
Global Ozone Generators Market: Drivers and Restraints
The rise in population has increased air pollution to a great extent. Also, high level of greenhouse gases (GHGs) emissions and other ozone-depleting substances are destroying the stratospheric ozone. Thus the upsurge in health problems due to air pollution has greatly increased the demand for air purification systems, particularly ozone generators, in recent times. Rapid urbanization and industrialization coupled with increasing consumer spending power are the other drivers fuelling the growth of ozone generators market. The global ozone generators market is projected to grow at a significant growth rate amidst growing demand from varied end use industries such as automotive, construction, food & beverage and healthcare. Emission reduction targets, stringent laws and regulations by governments are another factors driving the demand for ozone generators.
High pricing of products is limiting the growth and is observed as a major restraint for the ozone generators market. Whereas, growing environmental concerns and emerging APAC market are estimated to create substantial opportunities for the ozone generator manufacturers. The constantly changing consumer requirements leads to significant investments in R&D and this can be a major challenge for new entrants.
Global Ozone Generators Market: Segmentation
On the basis of technology, the global ozone generators market can be segmented into:
On the basis of application, the global ozone generators market can be segmented into:
On the basis of end-use industry, the global ozone generators market can be segmented into:
Global Ozone Generators Market: Region Wise Outlook
Asia Pacific region is expected to lead the global ozone generators market by the end of the forecast period. This can be attributed to rapid industrialisation and aggressive expansion of the construction and manufacturing sectors. North America and Europe are the two prominent markets in terms of manufacturing and sales of ozone generators. Countries such as the U.S., Germany, U.K., France and Canada hold significant market shares. Increasing disposable income of middle class families in China and India is expected to further drive the ozone generators market. Middle East, Latin America and Africa are expected to hold decent shares and are expected to expand with a moderate CAGR over the forecast period.
Global Ozone Generators Market: Market Participants
Examples of some of the market participants in the global Ozone Generators market identified across the value chain include:
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