According to a new report published by Allied Market Research titled, Ozone Generation Market by Technology and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global ozone generation market was valued at $880 million in 2016, and is expected to reach at $1,486 million by 2023, registering a CAGR of 7.4% from 2017 to 2023. Asia-Pacific is expected to dominate the market and is expected to maintain this trend throughout the forecast period.
Rise in need for clean drinking water, increase in usage of ozone technologies, and rapid urbanization & demographic growth drive the market. However, high installation & operational cost of ozone generation systems and lack of awareness regarding ozone generators hamper the potential of the market for different applications.
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The potable water treatment segment accounted for around one-third share of the global market, and is expected to maintain its dominance during the forecast period, owing to growth in population and urbanization. However, air treatment applications are also expected to grow with a moderate CAGR due to rise in demand for deodorizers and high ozone-level shock treatments.
Asia-Pacific and North America collectively accounted for around two-thirds share of the global market, while Asia-Pacific is expected to grow at a higher rate during the forecast period. Furthermore, high demand from the emerging countries, such as Japan, India, and China, is estimated to drive the market growth.
The major companies profiled in the report include, Absolute Systems, Inc., Chemtronics Co., Ltd., DEL Ozone, EBARA Technologies, Inc., ESCO International Ltd., Fuji Electric Co., Ltd., International Ozone Technologies Group, Inc., Mitsubishi Electric Corp., Toshiba Infrastructure Systems & Solutions Corporation, and Suez SA.
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Key Findings of the Ozone Generation Market:
• The potable water treatment segment is expected to grow at a CAGR of 8.1% during the forecast period.
• In Asia-Pacific, China is estimated to grow at the highest CAGR of 7.7%, in terms of value.
• Corona discharge segment occupied around two-fifths of the global market share.
• The U.S. accounted for over one-sixth of the global market, and is expected to grow at a significant CAGR of 7.4%.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.