Ozone Technology Market to Witness Massive Growth by 2028 : BWT Group.,MKS Instruments, Inc.,Xylem Inc.

Ozone technology is a burgeoning sector with several uses, such as air purification and water treatment. The global ozone technology market is now being driven by an expanding variety of applications. Revenues from the global ozone technology market totaled US$ 715.4 Mn in 2013, and by the end of 2020, they are predicted to increase to US$ 1.24 Bn. Over the projected period, 2014-2020, the market is expected to grow at a CAGR of 8.1%.

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Water contamination rises as a result of expanding industrialization and urbanisation. The demand for water disinfection is being driven by rising health concerns and knowledge about drinking clean water. This has been a major driver of ozone technology demand across the globe. Additionally, the market for ozone technology is being stimulated by the.

Segment Analysis

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.

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Regional Analysis

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.

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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.

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