The ozone technology market is thriving due to a number of emerging applications in government as well as commercial sectors worldwide. The global ozone technology market is estimated at a healthy CAGR by Persistence Market Research. PMR’s recent report on the global market for ozone technology is an extensive study of the ozone technology market, the factors associated with its growth, current status, and forecast position on a global level. The forecast period considered for this report is 2014-2020, considering 2013 as the base year for calculation of all the market values.
The report offers an overview of the ozone technology and its typical end-users in order to craft the overall scope for the technology and its growing application base. It further discusses key factors influencing directly or indirectly influencing the market movements in a favorable or unfavorable manner. The market evolves with changing consumer trends, which are precisely covered in the report’s next part. Apart from this, it also provides valuable data on the biggest upcoming opportunities.
In the next section, the ozone technology market report elaborates various segments of the market on the basis of technology. Regional analysis features all the four key regional markets and growth pattern estimates for each. This part of the report helps to identify potential growth opportunities in different geographical regions and all the aspects that need to be considered while looking at the expansion of a particular market.
The next section, key market players, profiles the leading companies competing in the global market for ozone technology. The competitive landscape section maps the competitive position of key companies based on maturity and growth of the market in several regions. Company profiles are included at the end of the report, offering the company overview, products and services portfolio, financial overview, and recent developments of the companies. The report provides historic, present, and forecasted market size, analysis, share, and growth prospects. The report also provides porters five forces analysis of the market.
To deduce the global ozone technology market size, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by product type, vehicle type, and distribution channel; and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution in the global ozone technology market.
The report begins with sizing the market in terms of value and volume for the base year, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, gathered data is triangulated via different analysis based on supply side and demand side drivers and other key dynamics of the global ozone technology market. To develop the market forecast, Persistence Market Research has also conducted a factor analysis to understand the impact of various forces/factors on the target market. The report provides forecasts not only in terms of CAGR but also presents a detailed analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities.
Another key feature of this report is an analysis of the global ozone technology market and the corresponding revenue forecast in terms of absolute dollar opportunity, usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global ozone technology market. Further, to understand key segments in terms of their growth and overall global ozone technology market performance, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the global ozone technology market.
Ozone technology is a growing industry with numerous applications, including water disinfection and air purification. A growing number of applications are currently driving the global market for ozone technology. In 2013, the global ozone technology market revenues reached a value of US$ 715.4 Mn, which is expected to climb up to US$ 1.24 Bn by the end of 2020. The market expansion is estimated at a CAGR of 8.1% over the forecast period, 2014-2020.
Key Market Dynamics
Growing industrialization and upsurge in urbanization result in increased contamination of water. However, growing health concerns and awareness about consuming clean water are pushing the demand for disinfection of water. This has been a key factor fueling the demand for ozone technology worldwide. In addition, rising need for purification of polluted air also boosts the market. Several governments across the globe are investing more in upgrading water infrastructure, which will continue to support the market growth over the forecast period. Traditional chlorine-based disinfection of water tanks is rapidly getting replaced by advanced technologies, including UV and ozone technology. This is another factor anticipated to push the market growth. The demand for ozone technology in disinfecting waste water treatment equipment, public swimming pools, spas, and other water treatment segments will remain a major factor sustaining the market growth. Growing awareness about the benefits of ozone technology, such as higher disinfection capacity, quicker processing time, higher oxidation potential, long run cost, without producing any harmful by-product, is also foreseen to be a key factor expanding the adoption of the technology. Moreover, this technology is also used in therapy of some of the most fatal diseases, including cancers and AIDS. This is estimated to be another driver to the market growth.
However, cost-intensive installation and relatively higher power consumption may continue to be the major roadblocks to mass penetration of the ozone technology across the globe. In addition, unsafe exposure to ozone can result in chronic health conditions, which is predicted to restrict adoption rate and hamper the growth of the market in the next few years, by 2020 end.
Based on technology, the global ozone technology market is segmented into potable water, waste water, industrial water, other waters, air and gas, and medicine. While water and air or gas segments represent the major market shares, the waste water segment is expected to present promising opportunities to the ozone technology market growth. This growth is attributed to increasing demand for the technology from municipalities and commercial sectors, such as swimming pools and spas. The waste water application segment already accounts for nearly three-fourth of the entire market share, whereas air or gas treatment segment will witness the fastest growth during the forecast period.
By region, the global market for ozone technology is segmented into four key regional markets viz. North America (the U.S.), Europe (the U.K., France, Germany), Asia Pacific (China, Japan), and rest of the world. Developed economies, such as North America and Europe have widely adopted the ozone technology for air and water purification. Regulatory bodies in these regions have been supporting advanced techniques over the years, and eventually the market. Although these regions will continue to represent the key markets globally, the ozone technology market will witness significant growth in developing markets, such as Asia Pacific. Japan and China are especially expected to witness notable growth due to scarcity of water, burgeoning need for air and water treatment, water conservation need, and favorable regulatory norms.
Key Market Players
Some of the key players in the global ozone technology market are ozone generation technologies market are Ebara Corporation, Mitsubishi Electric Power Inc., Vermont Inc., Ozomax ltd., Pacific Ozone Technology Inc., and Degremont Ltd. Leading companies are increasingly focusing on innovating high efficiency, low power zone ozone generation equipment.