Ozone Generator Market Size Worth $1.0 Billion By 2027 | CAGR 6.9% | Grand View Research, Inc.

November 10 12:08 2020
Ozone Generator Market Size Worth $1.0 Billion By 2027 | CAGR 6.9% | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc., The global ozone generator market size was valued at USD 608.4 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.9% over the forecast period. Rising investments towards up-gradation and expansion of wastewater treatment facilities coupled with the positive outlook towards industrial sector growth are expected to surge the product demand over the coming years.

The global ozone generator market size is expected to reach USD 1.0 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 6.9% over the forecast period. Rising investments in up-gradation and expansion of wastewater treatment facilities are expected to boost the product demand over the coming years.

Prolonged exposure of ozone can cause lung, throat, nose, and eye irritation; shortness of breath; can adversely affect indoor plants, can damage materials including fabrics, electrical wire coating, and rubber; and can exacerbate chronic respiratory diseases, such as asthma. All these factors are expected to restrict market growth over the coming years.

The demand for ozone generators in the residential segment is anticipated to witness the highest growth. Ozone can reach every corner of the environment, unlike ultraviolet sterilization, which leaves some places unsterilized. It also leaves no poisonous residue and can be produced by simple equipment, which can be used for public transportation modes, such as high-speed railways, airplanes, ships and buses; single rooms; and large public places.

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The ozone industry has seen rapid growth since the early 2000s in China owing to the rising product demand for the wastewater treatment industry. According to the statistics provided by the Chinese Ozone Association, more than 20 companies are manufacturing large-size generators, more than 400 companies are producing small- & medium-sized, and others are manufacturing mini generators for residential/personal uses.

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Ozone Generator Market Report Highlights

  • Corona discharge segment is anticipated to be the largest one over the coming years as these generators produce pure ozone with no hint of chemicals and gases
  • Cold plasma ozone generators are projected to register the fastest CAGR from 2020 to 2027 owing to the high ozone concentration along with low oxygen and energy consumption
  • Demand for ozone disinfection in municipal wastewater treatment plants is expected to register a CAGR of 6.4% over the forecast period because of its high oxidizing power and oxygen as by-products
  • China is expected to witness a significant growth in the APAC regional market owing to rising water shortages and water pollution due to rapid urbanization and industrialization
  • Key players in the market are collaborating with other manufacturers to gain a competitive advantage to use advanced technologies in the field and develop a strong foothold in the industry

Ozone gas has been proven to kill the SARS virus with a killing rate of 99.2% according to the experiment conducted by the national P3 labora640tory in China. COVID-19 is 80% similar to the SARS virus and it is sensible to predict that ozone could be equally effective in controlling and preventing the spread of COVID-19.

Ozone gas production is easy but difficult to control at certain levels because of the price of ozone sensors. Manufacturers are focusing on reducing the price of these sensors to make it an affordable air-cleaning unit for the residential sector. Amid the pandemic, few hospitals are using ozone for sterilization to control the spread, which, if proves effective, could create opportunities for the product manufacturers.

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However, prolonged exposure to ozone can cause lung, throat, nose, and eye irritation; shortness of breath; can damage materials including fabrics, electrical wire coating, and rubber; and can exacerbate chronic respiratory diseases, such as asthma. All these factors are expected to restrict market growth over the coming years.

Major manufacturers are aiming to contribute to the improvement of the water environment and expand their regional presence to strengthen their market positions. One such company is Metawater that is planning to accelerate the expansion of its overseas business by utilizing silent discharge technology for efficient generation of ozone. Companies are focusing on manufacturing low-cost and highly efficient devices to gain a competitive edge. For instance, Toshiba’s latest innovation, TGOGS series; is designed for optimum efficiency in a less bulky package that can be used in large-scale water treatment plants and also benefits the environment.

Some of the prominent players operating in the global ozone generator market include:

  • Mitsubishi Motors Corp.
  • Toshiba Corp.
  • Daikin Industries, Ltd.
  • Suez
  • Ozone Tech Systems

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Grand View Research has segmented the global ozone generator market on the basis of technology, application, end use:

Ozone Generator Technology Outlook (Revenue, USD Million, 2016 – 2027)

  • Corona Discharge
  • Cold Plasma
  • Electrolysis
  • Ultraviolet

Ozone Generator Application Outlook (Revenue, USD Million, 2016 – 2027)

  • Wastewater Treatment
  • Air Treatment
  • Laboratory & Medical Equipment
  • Others

Ozone Generator End-use Outlook (Revenue, USD Million, 2016 – 2027)

  • Municipal
  • Industrial
  • Commercial
  • Residential

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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