The global ozone generation market is set to experience a massive growth during the recent years. Asia-Pacific region is going to dominate the market. Leading players are focusing on further development of the industry by developing new strategies.
NEW YORK, Sept. 23, 2020 /PRNewswire/ — Research Dive has published a new report titled, “Ozone Generation Market, by Technology (Corona Discharge, Cold Plasma, Electrolysis and Ultraviolet), Application (Industrial, Potable water treatment, Municipal, Air Treatment and Others), Regional Outlook (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2018–2026″.
The Global Ozone Generation Market generated a revenue of USD 1,053.0 Million in 2018 and is expected to enhance the revenue to USD 1,624.6 Million by 2026 at a CAGR of 5.2% in the upcoming years.
Asia-Pacific Ozone Generation Market was accounted for USD 413.8 Million in 2018 which is further predicted to grow at a CAGR of 7.3% during the forecast period. The shortage of water among the urban population because of urbanization and industrialization is predicted to boost the market in the forecast period.
Key Segments of the Market
The report has segmented the global ozone generation market based on technology, application, and regional outlook.
- In the technology segment, the corona discharge sub-segment is predicted to be the most beneficial. This segment is estimated to grow with a CAGR of 5.9% in the projected period. Corona discharge ozone generators create higher quantities of ozone more effectively in a cost effective manner as compared to others such as UV-ozone generation. This is main reason behind the growth of the segment.
- In the application segment, municipal application is predicted to be the most profitable. Municipal application sub-segment is predicted to grow with a CAGR of 6.10% during the upcoming years. Increasing product demand due to its high oxidizing power and the ability to oxidize heavy material is predicted to drive the sub-segment.
COVID-19 Impact Analysis on Global Ozone Generation Market: Global Opportunity Analysis and Industry Forecast, 2018–2026 – Request to Download Analysis Sample Report
Driving Factors of Growth of Ozone Generation Market:
One of the most powerful disinfectants, ozone is mostly used for water treatment in different industries. The major driving factor behind this market growth is the necessity of clean and pure water for various household purposes.
The expensive cost of the ozone generators installation is one of the major restraint behind the growth of the market.
Top 10 Key Players of Ozone Generation Market:
The report enlists the leading players of the market which include
1. Toshiba Infrastructure Systems & Solutions Corporation
2. Dayton Water Systems
3. Chemtronics Co. Ltd
4. Absolute Systems.
5. Custom Molded Products LLC
6. Mitsubishi Electric Corp.
7. EBARA Technologies Inc.
8. ESCO International
10. International Ozone
The report also discusses the other vital aspects of the market including fiscal performance of the key players, product portfolio, SWOT analysis, and recent tactical developments. Quick Download Top 5 Companies Development Strategies Summary Report [75 pages]
Porter’s Five Forces Analysis for Ozone Generation Market:
- Bargaining Power of Suppliers: The switching cost from one supplier to another is projected to be High.
The bargaining power of suppliers is very High.
- Bargaining Power of Consumers: In this market, the concentration of buyers is low.
The bargaining power of consumers is Low.
- The threat of New Entrants: Huge initial investments are essential to start a new manufacturing unit of ozone generators.
The threat of new entrants is High.
- The threat of Substitutes: This market has less number of products; moreover, availability of products is also very less due to which switching costs for clients is low.
The threat of substitutes is Low.
- Competitive Rivalry in the Market: Ozone generators have numerous small, medium and large, scale players. Many major players are following several strategies, and product differentiation among them. The competitive rivalry in the industry is High.
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