The global ozone technology market is estimated to grow at 8.1% CAGR between the years 2014 to 2020. The factors that drive this market include greater health concerns as a result of widespread industrialization, presence of contaminated water and rise in urbanization.
Governments across the globe are investing heavily in developing water infrastructure and these get implemented under the five year plans of these economies. The ozone technology market has got significant boost due to the municipalities upgrading their water disinfecting processes from being chlorine based to UV and ozone technology based.
Apart from being widely applied in purifying and disinfecting air, water, surfaces and equipment, ozone technology is also used extensively in the field of medicine for treating life-threatening diseases like AIDS and cancer. The growing demand for ozone technology equipment can be observed in other areas of water treatment which include spas and swimming pools.
Ozonation has several advantages like high potential for oxidation, no release of harmful by-products, lesser processing time as compared to other conventional disinfection methods and long run cost benefits.
Market Segmentation of the Global Ozone Technology Market
The global ozone technology market can be segmented into two main parts; the first segment includes gas and air treatment and medicine and the other segment includes wastewater applications and water applications. The wastewater segment of ozone technology application is expected to reach a value worth $634 million by the year 2016. And the medicine, gas and air treatment segment is estimated to reach a value worth $204 million by 2016.
The triatomic form of oxygen, O3 (ozone) has proved to be a very useful and is an extensively applied gas. Water treatment, which is the fastest growing segment, dominates the global ozone technology market. The gas and air treatment segment has huge growth potential. Also, the incidence of investment in ozone technology is on the rise due to higher need for protecting the environment and for repairing decaying treatment works.
Among end users, ozone is most preferred to disinfection mediums like UV and chlorine. Furthermore, in many countries various regulations are being implemented that pertain to adopting better and improved disinfection methods that ensure the safety level of water.
Trends Prevailing in the Global Ozone Technology Market
The global ozone technology market is highly fragmented. However, there are a few prominent key players in the industrial water, potable water and waste water segments. Brand image plays a pivotal role for large buyers. Many small private regional companies are emerging in this market globally due to the absence of regulatory requirements with respect to ozone generators and the prevalence of simple technology. These small scale regional companies cater to the needs to their clients by providing them with customized solutions. The sale of ozone generators is continuously rising at a very strong rate despite the prevailing global economic downturn.
The ozone technology market in the Asia Pacific is fueled by increasing demand for industrial process water, drinking water and treatment of waste water. These factors are a consequence of insufficient availability of purification capacity and water scarcity in emerging markets like India and China.
Some of the prominent companies in the global ozone technology market include Mitsubishi Electric Corporation, BWT Group, Norland International, Inc., MKS Instruments, Inc., DEL Ozone, Xylem Inc., EBARA Corporation, ClearWater Tech, LLC, OZONIA and OZOMAX Inc.
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