The Ozone Generation Market was at US$ 1.8 Billion in 2021 and is growing to approx US$ 3.1 Billion by 2030, with a CAGR growth of 7.1% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, February 6, 2023 /EINPresswire.com/ -- According to the study, The Global Ozone Generation Market was estimated at USD 1.8 Billion in 2021 and is anticipated to reach around USD 3.1 Billion by 2030, growing at a CAGR of roughly 7.1% between 2022 and 2030.

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Ozone Generation Market: Overview

An ozone generator is a device used for the conversion of oxygen from sources like concentrated oxygen, ambient air, or dry air which gets converted to ozone. The ozone generator system can produce ozone from oxygen molecules. Ozone solutions are the effective methods widely used for the reduction of air-borne diseases, bacteria, spores, etc.

Ozone Generation Market: Growth Drivers

The ozone generation market is expected to represent significant growth in the upcoming years. The driving factors for the growth include the rapid investments in wastewater treatment facilities and along with the frequent development in the hospitality industry. The rapid usage of ozone in varied industries such as biogas drives the market growth for ozone generation. The ozone has anti-bacterial properties due to which it is 3000 times more efficient than chlorine and is used in biogas industries to combat odour and air contamination. Moreover, the rapid shortage of chlorine and the high demand for an alternative source of chlorine has led to the growth of the ozone generation market.

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Key Insights:

A) As per the analysis shared by our research analyst, the Ozone Generation market is estimated to grow annually at a CAGR of around 7.1% over the forecast period (2022-2030).
B) In terms of revenue, the Ozone Generation market size was valued at around USD 1.8 Billion in 2021 and is projected to reach USD 3.1 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Prolonged exposure to the ozone can lead to several complications such as breathing difficulty which leads to asthma, eye, throat, nose, and lung irritation, and other chronic lung diseases. It can also damage fabrics, electrical wire coating, rubber, etc.,
D) The production of ozone gas is an easy process but its maintenance and control become difficult due to the high price of the ozone sensors. The key manufacturers have taken the initiative to restructure the ozone sensors and order to reduce their high prices.
E) The lack of awareness especially among the developing regions of Middle and East Africa, North America, and Asia-Pacific regarding the use of ozone generators may be a challenge for the market growth.

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Regional Landscape

Based on the regional analysis, the North American region has dominated the ozone generation market in 2021 and is expected to show significant growth during the forecast period.

The market growth can be attributed to the compulsion of regulations to support municipal wastewater treatment coupled with the rapid increase in air pollution. Countries like the US took the initiative to construct a power plant to treat local wastewater. It is the Public-Private Partnership law to enhance investments for such reasons. Such initiatives related to domestic investments have led to the growth of the market across the such region.

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Key Players

Mitsubishi Motors Corp.
Toshiba Corp.
Daikin Industries, Ltd.
Suez
Ozone Tech Systems

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The Ozone Generation Market is segmented as follows:

By Type

Ultraviolet
Cold Plasma
Corona Discharge
Electrolytic

By Application

Waste Water Treatment
Air Purification
Medical Equipment
Food & Beverage
Others

By End-User

Industrial
Residential
Municipal
Others

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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