Ozone Generation Market

Ozone Generation Market Forecast-2030

The global ozone generation market size was valued at $1.5 billion in 2020, and is projected to reach $2.5 billion by 2030, growing at a CAGR of 5.3% from 2021 to 2030. Ozone is a highly reactive gas composed of three oxygen atoms. It is both, natural and man-made product that occurs in the Earth's upper atmosphere ozone molecule (the stratosphere) and lower atmosphere (the troposphere).

The COVID-19 pandemic has a substantial impact on the film industry in 2020, 2021 and further into 2022. Globally, cinemas and movie theatres have been closed and usage of ozone has decreased for such public places. However, there is a sluggish decline in the global ozone generation market due to the impact of COVID-19.

Ozone is created when diatomic oxygen is exposed to an electrical field or ultraviolet (UV) light. Exposure to these high levels of energy causes a portion of the diatomic oxygen molecules to split into individual oxygen atoms. These free oxygen atoms combine with diatomic oxygen molecules to form ozone.

Ozone is an unstable molecule due to the weak bonds holding the third oxygen atom, making ozone a naturally powerful oxidizing and disinfecting agent. Ozone delivers oxidizing power, either directly or through the generation of hydroxyl-free radicals in the decomposition of dissolved ozone into water.

This reaction yields three simultaneous processes, such as oxidation, disinfection, and decomposition. During the oxidation process, ozone can be generated directly and through the highly reactive hydroxyl-free radicals or it can be generated by breaking of chemical bonds of organic compounds. For example, the components of the cell walls of microorganisms can be oxidized and broken down by ozone. This process facilitates disinfection by disrupting and lysing cell walls, exposing the contents of the cell to further oxidation and inactivation. All common bacteria, viruses, molds, cysts, and parasites can be destroyed by ozone in this manner. In the end, ozone decomposes to diatomic oxygen, leaving no unwanted residual taste or odor.

In addition, there are numerous application areas of ozone in the various industries, such as food surface hygiene, sanitation of food plant equipment, reuse of waste water, treatment, and lowering biological oxygen demand (BOD) and chemical oxygen demand (COD) of food plant waste. However, rise in such industries across the globe leads to increase in the scope of ozone generation, and is expected to act as the major driving factor for the market.

The ozone generation market is segmented on the basis of technology, application, end use, and region. On the basis of technology, he market is classified into ultraviolet, cold plasma, corona discharge, and electrolytic. By application, it is categorized into waste water treatment, air purification, medical equipment, food & beverages, and others. On the basis of end use, it is categorized into industrial, residential, municipal, and others. Region-wise, the market is analysed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in this ozone generation industry report include. Daikin Industries, Ltd., Evoqua Water Technologies LLC, Electrolux, Ebara Corporation, Fuji Electric Co., Ltd., Mitsubishi Electric Corporation, MKS Instruments, Teledyne Technologies, Toshiba Corporation, and Xylem.

Global Ozone Generation Market, by Technology

By technology, the corona discharge segment dominated the global ozone generation market in 2020, and is projected to remain the fastest-growing segment during the forecast period. This is attributed due to its renewable nature and it is one of the easiest procedures as compared to other technologies.

Global Ozone Generation Market, by Application

By application, the medical equipment segment dominated the global ozone generation market in 2020, and is projected to remain the fastest-growing segment during the forecast period. This is attributed due to rise in health infrastructure and high usage of ozone as air purification at crowded places such as hospitals, health centers, and other places.

Global Ozone Generation Market, by End Use

By product, the industrial segment dominated the global ozone generation market in 2020, and is projected to remain the fastest-growing segment during the forecast period. This is attributed to rapid expansion industries and rise in dependency on the ozone.

Ozone Generation Market, by Region

By region, Asia-Pacific dominated the global ozone generation market in 2020, and is projected to remain the fastest-growing segment during the forecast period. This is attributed to numerous factors, including the largest production of oxygen in the region, which in turn leads to production of ozone.

Key Benefits For Stakeholders

• The report provides an in-depth analysis of the global ozone generation market trends along with the current and future market forecast.
• This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
• Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global ozone generation market for strategy building.
• A comprehensive global ozone generation market analysis covers factors that drive and restrain the market growth.
• The qualitative data in this report aims on market dynamics, trends, and developments.

Impact Of Covid-19 On Global Ozone Generation Market

• Ozone is created when diatomic oxygen is exposed to an electrical field or ultraviolet (UV) light. In addition, ozone is a highly reactive gas composed of three oxygen atoms. Moreover, the COVID-19 pandemic has turned an existing oxygen gap in many low- and middle-income countries (LMICs) into a crisis. The overwhelming number of patients in need of oxygen therapy far outstrips the existing capacity at hospitals and health facilities: over half a million COVID-19 patients in LMICs need oxygen therapy every day. An estimated 4.2 million children with pneumonia also cannot access this life-saving medical gas each year. However, with the crisis of oxygen, the demand for supply of ozone is highly impacted and shows a negative result to the market.
• The COVID-19 pandemic has a substantial impact on the film industry in 2020, 2021 and further into 2022, mirroring its impacts across all arts sectors. Globally, cinemas and movie theaters have been closed, festivals have been cancelled or postponed, and film releases have been moved to future dates or delayed indefinitely. However, usage of ozone has decreased for such public places, which leads to a negative result to ozone demand and hampers the growth of the ozone generator market.
• COVID-19 impacted almost all industries by hindering various industrial operations and disrupting the supply chain. Maximum companies halted their operation due to less workforce. However, there is a sluggish decline in the global ozone generation market due to the impact of COVID-19. 
• Furthermore, import and export activities were significantly impacted, which, in turn, adversely affected the industries that use ozone generation; thereby, affecting the global ozone generation market growth.

 Ozone Generation Market Report Highlights