The global ozone technology market was valued at USD 715.4 million in 2013 and is expected to grow at a CAGR of 8.1% from 2014 to 2020, to reach an estimated value of USD 1,242.0 million in 2020.
New York, NY -- (SBWIRE) -- 10/31/2017 -- According to a new market report published by Persistence Market Research "Global Market Study on Ozone Technology: Air and gas to Witness Highest Growth by 2020," the global ozone technology market was valued at USD 715.4 million in 2013 and is expected to grow at a CAGR of 8.1% from 2014 to 2020, to reach an estimated value of USD 1,242.0 million in 2020.
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Ozone technology is used for disinfecting water, equipment and surfaces and purifying air. It is also used in therapy of some of the most fatal diseases such as cancer and human immunodeficiency virus infection/acquired immune deficiency syndrome (HIV/AIDS). Ozone technology equipment has promising growth rate in the waste water treatment equipment, in municipalities, and other water treatment segment which include swimming pools and spas. This growth is attributed to the many benefits associated with the technology. High oxidation potential, quicker processing time compared to other traditional disinfection techniques, no harmful by-product and long run cost benefits are some of the major advantages of ozonation.
The increasing global health concerns due to surge in urbanization, increasing water contamination and increasing level of industrialization are driving the ozone technology market globally. The government expenditure on upgrading water infrastructure has increased in the past decades across all regions, which are also reflected in the five year plans of countries. Municipalities are upgrading from traditional chlorine-based disinfection to UV and ozone technology based disinfection which has boosted ozone technology market.
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The ozone technology market is expected to grow at a CAGR of 8.1% during 2014-2020. Ozone offers many advantages in terms of higher overall disinfection capacity and better processing speed for water disinfection as compared to the other disinfection mediums such as chlorine and UV, thus making it one of the preferred choices among end users. Water treatment related regulations in some of the countries are also compelling water and waste water service establishments to modify their disinfection techniques to improve safety level of water.
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Simple technology and lack of regulatory requirement for ozone generators in most part of the world lead to emergence of many small private level regional companies, serving their clients with customized solutions. However, for large buyers brand image also plays an important role.
The market is fragmented though there are only few big international players operating on top (especially in potable water, other water, industrial water and waste water segments). Most of the large companies, such as Ebara Corporation and Degrémont, operate through their subsidiaries. Some of the big players such as Mitsubishi Electric Corporation have raised the standard of products by introducing high efficiency and low power ozone equipment in the market.
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