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).
New York, NY -- (SBWIRE) -- 06/10/2016 -- Ozone technology finds application in disinfecting water, surfaces, and equipment, and purifying air. The technology is also used in the treatment of some of the most fatal diseases such as HIV/AIDS and cancer. With the increasing use of ozone technology in wastewater treatment equipment in municipalities and other industries, the global ozone technology market sees impressive growth opportunities.
A report released by Persistence Market Research, titled "Global Market Study on Ozone Technology: Air and Gas to Witness Highest Growth by 2020," provides a comprehensive overview of the growth trajectory exhibited by the ozone technology market between 2014 and 2020. The report studies the market from the ground up covering the market definition, segmentation, and factors impacting its growth trajectory.
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In the last few years, the market for ozone technology has witnessed a substantial rise in demand, particularly for water treatment in swimming pools and spas. The technology boasts benefits such as high oxidation potential, fast processing time compared to traditional disinfection technologies, long-term cost benefits, and no harmful by-products, which subsequently fuels its demand across various industries.
The rising health concerns around the world due to surging urbanization, rapid industrialization, and the subsequent increase in water contamination are driving the market for ozone technology. Governments across several nations have adopted efficient five-year plans for upgrading their water infrastructure, which in turn has given substantial impetus to the market for ozone technology. With municipalities upgrading the traditional chlorine-based disinfection to ozone technology-based water treatment techniques, the market for the latter is likely to witness an impressive rise in demand.
Due to the aforementioned factors, the global market for ozone technology is anticipated to exhibit a positive CAGR of 8.1% between 2014 and 2020. Ozone technology offers better processing speed and higher disinfection capacity than chlorine- and UV-based disinfection techniques, owing to which it has emerged as the most preferred choice for carrying out wastewater treatment. Favorable water treatment regulations implemented across several countries compelling wastewater service establishments to upgrade the disinfection techniques they use to improve the overall water safety will significantly bolster the demand for ozone technology, states the report.
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The market, in the last few years, has witnessed the emergence of several small and medium-sized regional companies due to the lack of stringent regulatory compliances and simple technology. These companies are pacing up against prevailing competition by offering customized solutions to clients. However, the larger buyers are often attracted by the brand image.
The global market for ozone technology is, therefore, fragmented, though there are a few international players who operate at the top. Most of the large companies operate through their ancillaries in the market. The report provides a holistic analysis on the prevailing competitive landscape of the market. Using SWOT analysis, it weighs out the strengths, weaknesses, opportunities, and threats witnessed by these companies.
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