What is Ozone Technology Market?
The ozone technology is used to disinfect water, devices, and surfaces as well as to purify the air. It is also used in the therapy of some of the deadliest diseases such as cancer and human immunodeficiency virus / acquired immunodeficiency syndrome (HIV / AIDS) infection. Ozone technology devices are showing promise for growth in wastewater treatment plants, municipalities, and other water treatment segments that include swimming pools and spas. This growth is due to the many benefits associated with the technology. A high oxidation potential, faster processing time compared to other conventional disinfection techniques, no harmful by-products and long-term cost benefits are some of the main advantages of ozonation. The increasing global health problems due to increasing urbanization, increasing water pollution, and increasing degree of industrialization are driving the ozone technology market worldwide. Government spending on modernizing water infrastructure has risen in all regions over the past few decades, which is also reflected in the five-year plans of the federal states. The municipalities are converting from traditional chlorine-based disinfection to disinfection based on UV and ozone technology, which has boosted the market for ozone technology.
The market study is being classified by Type (Electrolysis Method, Nuclear Radiation Method, Ultraviolet Method and Others), by Application (Potable Water, Waste Water, Industrial Water, Air and Gas, Medicine and Others) and major geographies with country level break-up.
BWT Group (Austria), MKS Instruments (United States), Xylem, Inc. (United States), Mitsubishi Electric (Japan), ClearWater Tech, LLC (United States), Ozomax, Inc. (Canada), Ozonia (Switzerland), Ebara Corporation (Japan), Degremont (France), DEL Ozone (United States), Norland International (United States) and Evoqua Water Technologies LLC (United States) are some of the key players profiled in the study.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Ozone Technology market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Ozone Technology market by Type, Application and Region.
On the basis of geography, the market of Ozone Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Industrialization and Upsurge in Urbanization
- Increased Contamination of Water
- Growing Awareness about the Benefits of Ozone Technology
- Growing Health Concerns and Awareness about Consuming Clean Water
Market Trend
- Rising Usage of Technology in Therapy of Some of the Most Fatal Diseases
- Rising Need for Purification of Polluted Air
Restraints
- Cost-Intensive Installation
- Relatively Higher Power Consumption
Opportunities
- A Rise in Investment by the governments across the Globe in Upgrading Water Infrastructure
- Increasing Demand for the Technology from Municipalities and Commercial Sectors
Challenges
- Unsafe Exposure to Ozone Can Result In Chronic Health Conditions
The UK government's new clean air strategy is expected to create opportunities for product manufacturers in the years to come as the strategy sets out the comprehensive measures needed to create a coherent and stronger framework to eliminate air pollution and risk impose for them to decrease public health and the environment. Overexposure to ozone is highly toxic and can turn VOCs into more dangerous forms, which is expected to limit market growth in the years to come. In addition, the ban on ozone generators in California since 2009 and the ban on the manufacture of air purification systems that emit more than 0.05 ppm of ozone.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Providers of Ozone Technology, Venture Capitalists and Private Equity Firms and End-Use Industry