The global ozone generation market is anticipated to grow significantly over the forecast period. The world today is facing a serious threat from diseases caused due to contaminated water. The increasing rate of industrialization mainly in emerging economies has been one of the major factors causing water pollution. In order to disinfect the polluted water and make it safe drinkable and useable, regulatory bodies across various nations have been supporting the use of ozone generation technologies. Regulatory support has been acting as one of the major factors driving the market for ozone generation technologies.
The global market for ozone generation is expected to witness significant growth over the next decade owing to water scarcity and the increasing need to treat wastewater and conserve natural water. However, the market for ozone generation has still not penetrated in some of the developing and underdeveloped countries owing to a lack of awareness amongst the consumers regarding the benefits of ozone generation technologies.
Ozone generation is majorly used for water (waste and natural) treatment and air purification/treatment. Water treatment alone accounts for more than three-fourth of the total market for ozone generation. Ozone generation is also used for bio-waste treatment and size effluent. The use of ozone for bio-waste treatment reduces the consumption of energy and a chemical treatment which helps in minimizing the overall cost associated with bio-waste treatment. Other applications of ozone include as a sanitizer. Ozone generation sanitizer is considered to be a cost-effective and eco-friendly solution to traditional methods of sanitization which uses toxic chemicals. Ozone generation sanitizer uses only electricity and oxygen making it a safer and suitable replacement for traditional methods.
Regulatory bodies in developed economies of North America and Europe have been supporting the use of ozone generation technologies which further has been boosting the market for ozone generation. However, Asia Pacific holds significant growth opportunities for market participants owing to rapid industrialization in the region which induces the need for wastewater treatment.
This research report analyzes various factors, which have been driving and inhibiting the global ozone generation market in the past. In addition, the report analyzes the impact of each driver and restraint on the market growth, which forms the base for the market forecast. The report also showcases the opportunities available in the market which may act as future drivers for the market.
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The supply of water treatment chemicals shall witness shortages due to the prevalence of COVID-19 at a pandemic level. The industrial sector as a whole shall register an increase in demand for dewatering equipment, water treatment systems and membranes due to stipulated public health guidelines and greater need for sanitary environment. The report will account for Covid19 as a key market contributor.