Ozone Generator Market 2024 - By Industry Analysis, Competitive Landscape, Growth Factors, Revenue And Outlook By 2033

The Business Research Company recently released a comprehensive report on the Global Ozone Generator Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The ozone generator market size has grown strongly in recent years. It will grow from $1.44 billion in 2023 to $1.54 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increased concerns about air and water pollution, growth in demand for water treatment and purification, stringent environmental regulations and standards, expanded applications in industrial and municipal sectors, need for effective odor and voc control.

The ozone generator market size is expected to see strong growth in the next few years. It will grow to $2.08 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to adoption of ozone generators for aquaculture and fish farming, integration of ozone technology in laundry and textile industries, expansion of ozone therapy in wellness and medical spa settings, emphasis on ozone treatment in pharmaceutical and biotech industries, growing demand for ozone generators in hvac and air purification. Major trends in the forecast period include modular and scalable ozone generation systems, advanced electrode and dielectric materials, ozone generation with pulsed corona discharge (pcd), integration of iot and remote monitoring, ozone application in wastewater treatment.

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Market Drivers and Trends:

Rising investments in upgrading and expanding wastewater treatment facilities is expected to propel the growth of the ozone generator market. A wastewater treatment plant treats industrial effluent and removes pollutants using various methods including physical, chemical, and biological methods. As water resources become increasingly scarce, wastewater reuse has become more important as climate change progresses. Treating water with ozone begins with the production of ozone(O3)in an ozone generator by applying energy to oxygen molecules (O2), causing the oxygen atoms to separate and temporarily recombine with other oxygen molecules, thus used to disinfect and purify water. For instance, in April 2021, in a notice published by the United States Environmental Protection Agency, the EPA announced new funding for water infrastructure projects totaling $6.5 billion. These fundings will help accelerate investment in critical water infrastructure by providing innovative and flexible financing for various projects in both large and small communities. Therefore, the rising investment in upgrading and expanding wastewater treatment facilities is expected to boost demand for ozone generators during the forecast period.

Product Innovation is a key trend gaining popularity in the ozone generator market. The companies operating in ozone generator are developing new products with innovative technologies to meet specific industry demands and strengthen their business presence across the globe. For instance, in March 2021, SUEZ SA, a French-based company that deals in water and waste management, launched Ozonia L, the next generation of large-capacity ozone generators. This Ozonia L provides large-scale ozone production on a small footprint, with a new web-enabled interface and real-time system optimization for energy efficiency and reduced total cost of ownership. This product incorporates the most advanced technology developed in the Ozonia innovation labs and builds on SUEZs as innovators and leaders in the disinfection and oxidation field.

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Major Key Players of the Market:

Suez Utilities Company, Mitsubishi Electric Corporation, Ebara Corporation, Toshiba Corporation, METAWATER Co Ltd., Daikin Industries Ltd., Ozone Tech Systems, Primozone AB, Lenntech B.V., Ecozone Technologies Ltd., Electrolux AB, Honeywell International Inc., Oxyzone, Ozone Solutions Inc., Biozone Corporation, DEL Ozone, Sharp Corporation, Sun-Belt USA, Whirlpool Corporation, BES Group, Chemtronics Technologies (India) Pvt. Ltd., Degrémont Technologies, Enaly Ozone Generator, Faraday ozone, Xylem Inc., Corotec Corporation, MKS Instruments Inc., Ozomax Limited, Qingdao Guolin Industry Co. Ltd.

Ozone Generator Market 2024 Key Insights:

• The ozone generator market size is expected to see strong growth in the next few years. It will grow to $2.08 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.
• Expanding Wastewater Treatment Facilities Drive Growth In The Ozone Generator Market
• Elevating The Ozone Generator Market Through Innovative Product Development
• North America was the largest region in the ozone generator market in 2023

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