The global ozone generation market size was valued at $1.5 billion in 2020, and is projected to reach $2.5 billion by 2030, at a CAGR of 5.3% from 2021 to 2030. Ozone is created from Oxygen in nature and in ozone generators for commercial or industrial applications. However, ozone quickly reverts back to molecular Oxygen. Ozone cannot be stored due to a short half-life and must be produced on-site and on-demand. Therefore, the ozone generator is the most important component of any successful ozone system. Industrial and commercial ozone applications use corona discharge ozone generators, almost exclusively.
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The report focuses on the global ozone generation market analysis and the major products and applications where ozone generation are deployed. It further highlights numerous factors that influence the market growth, such as forecast, trends, drivers, restraints, opportunities, and roles of different key players that shape the market. The report focuses on the overall demand for ozone generation in various countries, presenting data in terms of both value and volume. The revenue is calculated by proliferating the volume by region-specific prices, considering the region-wise differentiated prices.
The ozone generation market is segmented on the basis of technology, application, end use, and region. On the basis of technology, he market is classified into ultraviolet, cold plasma, corona discharge, and electrolytic. By application, it is categorized into waste water treatment, air purification, medical equipment, food & beverages, and others. On the basis of end use, it is categorized into industrial, residential, municipal, and others. Region-wise, the market is analysed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this ozone generation industry report 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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Impact Of Covid-19 On Global Ozone Generation Market
- Ozone is created when diatomic oxygen is exposed to an electrical field or ultraviolet (UV) light. In addition, ozone is a highly reactive gas composed of three oxygen atoms. Moreover, the COVID-19 pandemic has turned an existing oxygen gap in many low- and middle-income countries (LMICs) into a crisis. The overwhelming number of patients in need of oxygen therapy far outstrips the existing capacity at hospitals and health facilities: over half a million COVID-19 patients in LMICs need oxygen therapy every day. An estimated 4.2 million children with pneumonia also cannot access this life-saving medical gas each year. However, with crisis of oxygen, the demand for ozone is highly impacted and shows a negative result in the growth of the market.
- The COVID-19 pandemic’s substantial impact on the film industry in 2020, 2021, and further into 2022, mirrors its impacts across all arts sectors. Globally, cinemas and movie theaters were closed, festivals were cancelled or postponed, and film releases were moved to future dates or delayed indefinitely. However, usage of ozone decreased in such public places, which leads to a negative result to ozone demand and hampers the growth of the ozone generator market.
- COVID-19 impacted almost all industries by hindering various industrial operations and disrupting the supply chain. Maximum companies halted their operation due to less workforce. However, there is a sluggish decline in the global ozone generation market due to the impact of COVID-19.
- Furthermore, import and export activities were significantly impacted, which, in turn, adversely affected the industries that use ozone generation; thereby affecting the global ozone generation market.
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