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TMR Analyzes Impact of Outbreak of COVID-19 on Ozone Generation Technologies Market
Ozone offers many advantages in term of higher overall disinfection capacity and better processing speed as compared to other disinfectant such as chlorine and UV, making it the most preferred among end users. High oxidation potential, quicker processing time, no harmful by-product and long run cost benefits are some of the major advantages of ozonation.
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Ozone generation is used for disinfecting water, equipment and sanitizing air. It is also used for therapy of diseases such as cancer and AIDS and for bio-waste treatment. The most common type of ozone generation technology is corona discharge. Ozone can also be produced using traditional methods such as UV light and by electrolytic method, which provides higher concentration and purity. The growing demand to treat waste water in order to make it potable and useful for other purposes is propelling the growth of the ozone generation technologies market.
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The global ozone generation technologies market can be segmented into five segments based on applications such as industrial water, drinking water, waste water, air treatment and others. Ozone generation technologies are generally used for treating water and air or gas. Ozone technology equipment has promising growth in the waste water treatment equipment for industries, for sewage treatment in municipalities, and other waste water treatment in commercial segments like swimming pool, spas and others. Municipalities are upgrading from traditional chlorine-based disinfection to UV and ozone technology based. This has resulted in boost in ozone generation technologies market. Among these applications, waste water treatment accounts for approximately three-fourth of the overall market. Air or gas treatment segment is the fastest growing segment of the ozone generation technologies market.
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Rapid industrialization in the Asia Pacific coupled with growing disposable incomes in emerging economies of India and China provides immense opportunity to players operating in ozone generation technologies market. Growing industrialization in Asia Pacific has increased usage of water and hence the volume of waste water, which increases the need for waste water treatment by various means. Market trends involve increased need for water and air treatment in developing countries. Waste water treatment regulations in some countries leads to modification in their disinfection techniques to improve safety level of water. Regulatory bodies in developed economies of North America and Europe have been supporting the use of ozone generation technologies which has further boosted the demand for the ozone generation technologies market.
Some of the major factors driving the demand for ozone generation technologies include water scarcity, growing need to conserve natural water and treat waste water. Favorable regulatory norms are expected to contribute to increased profitability for stakeholders. Lack of awareness regarding benefits of using ozone for disinfecting has been hindering the growth of global ozone generation technologies market. The increasing global health concerns due to urbanization, increasing water contamination and growing level of industrialization are driving the ozone generation technologies market globally. Simple technology and lack of regulatory requirement for ozone generators in most parts of the world lead to emergence of many small private level regional companies.
Some of the global players in ozone generation technologies market are Ebara corp., Mitsubishi Electric Power Inc., Vermont Inc., Ozomax ltd., Pacific Ozone Technology Inc., and Degremont Ltd., among others. Some of the big players have raised the standards of ozone generating products by introducing high efficiency and low power ozone equipment in the ozone generation technologies market.
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