Ozone Generators: Introduction
- Increasing industrialization coupled with rapid population growth across the globe has created a huge demand for fresh water. Furthermore, freshwater resources have been depleting significantly for the last few years. Consequently, governments of several nations are beginning to enact stringent regulations to maximize water treatment plant use and ozone generators could provide a better alternate to chlorine water treatment. Thus, companies and governments across the globe are currently investing in the development of cost-effective ozone generator technology.
Key Drivers and Restraints of Ozone Generators Market
- Scarcity of freshwater for drinking and other human consumption purposes is a key factor driving the ozone generators market in the near future. Rapid industrialization has led to a water crisis across the globe. Ozone generators are utilized in the treatment of recycling of wastewater in industries, which can reduce the pressure on existing freshwater sources. Hence, a rise in scarcity of freshwater is a major factor driving the ozone generators market.
- Governments and regulatory authorities are enacting stringent regulations regarding wastewater treatment and reuse. Governments across the globe are promoting adoption of wastewater treatment facilities. Thus, enactment of stringent regulations by governments is estimated to drive the ozone generators market during the forecast period.
- High initial investment is expected to hamper the ozone generators market. Ozone generators manufacturing requires high investment. Moreover, operational and maintenance cost of ozone generators is high, which can increase the overall operational expenditure of a company. Thus high cost is restraining the global ozone generators market.
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Global Ozone Generators Market: Segmentation
- The global ozone generators market can be segmented based on technology, application, and end-user
- In terms of technology, the global ozone generators market can be segregated into ultraviolet, cold plasma, corona discharge, electrolytic, and others. The corona discharge segment is estimated to expand at a high CAGR during the forecast period due to low cost and maintenance.
- In terms of application, the global ozone generators market can be classified into wastewater treatment, aquaculture, swimming pool, portable water treatment, and others. The wastewater treatment segment is expected to expand at a rapid pace during the forecast period, owing to the high demand for wastewater treatment applications from municipal and industrial users.
- In terms of end-user, the global ozone generators market can be bifurcated into municipal and industrial. Furthermore, the industrial segment can be split into oil & gas, power, chemical, textiles, food & beverage, pulp & paper, and others. The municipal segment is expected to expand significantly during the forecast period, due to an increase in adoption of ozone generators all over the world.
Global Ozone Generators Market: Regional Segmentation
- Based on region, the global ozone generators market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific dominated the global ozone generators market in 2019. The region is expected to dominate the market during the forecast period, due to rapid industrialization and urbanization in countries such as China, India, Singapore, Indonesia and Japan, which led to an increase in water consumption. This fuels the demand for ozone generators in the region.
- Europe and North America are key regions of the global ozone generators market. Stringent government regulations in these regions is reducing water pollution, which is a key factor driving the market in these regions.
- The market in Middle East & Africa and Latin America is estimated to expand at a steady pace during the forecast period. Increase in investment in water treatment activities by developing countries, such as Brazil and Mexico, is expected to drive the ozone generators market in these regions during the forecast period.
COVID-19 Impact on Ozone Generators Market
- The global impact of the coronavirus pandemic was completely unpredicted, and it has put the world economy in huge distress. There were delays in water treatment projects due to a lack of manpower and financial funding due to the COVID-19 lockdown. However, increased use of water in last few months, as it is essential for good hygiene practices, has led to a rise in the demand for ozone generators all across the world.