Global Ozone Technology Market to Develop at 8.1% CAGR from 2014-2020 by Persistence Market Research

The increasing global health concerns due to surge in urbanization, increasing water contamination and increasing level of industrialization are driving the ozone technology market globally.

There are numerous benefits associated with ozone technology, which has made it a preferred purification and treatment option among end-use industries, states Persistence Market Research in a recent report. The study, titled “Global Market Study on Ozone Technology: Air and Gas to Witness Highest Growth by 2020”, indicates that, rising from a value of US$715.4 million in 2013, the global ozone technology market is anticipated to develop at an 8.1% CAGR from 2014 to 2020, to reach US$1,242.0 million by 2020.

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The use of ozone technology for disinfection has gained much acceptance in developing countries since governments in these regions seek to overcome the problems of water pollution and provide safe drinking water to the people. This has largely driven the market for ozone technology. The increasing use of ozone technology in newer applications such as spas and swimming pools holds strong promise for growth in the next five years. However, concerns of chronic health problems arising from unsafe exposure to ozone, high installation costs and consumption of power, and the need for an additional cleaning medium in some applications threaten to hamper the growth of the ozone technology market.

Ozone technologies find application in areas such as wastewater, potable water, industrial and other waters, medicine, and air and gas. Water treatment emerges as the primary application of ozone technology given the alarming levels of water pollution across the globe. Ozone is a strong oxidant and disinfectant and is used in iron and manganese oxidation, disinfection of potable water, taste and odor control, algae removal and destruction, and cyanide and nitrite destruction.

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The global ozone technology market is segmented on the basis of geography into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific is a significant market for ozone technology and analysts attribute this to rapid urbanization, which has increased the usage and wastage of water. The need for air and water treatment in developing countries of Asia-Pacific, backed by the rise in disposable incomes in emerging economies of China and India holds immense potential for players within the ozone technology market. The developed economies of Europe and North America have also been witnessing a rise in the use of ozone generation technologies thanks to support from regulatory bodies.

The competitive landscape of the global ozone technology market is rather fragmented and the top rung is dominated by large international companies. Some of the leading players in the ozone technology market are EBARA CORPORATION,OZOMAX Inc.,BWT Group,Norland International, Inc.,Xylem Inc.,OZONIA,Mitsubishi Electric Corporation,ClearWater Tech, LLC,DEL Ozone, and MKS Instruments, Inc. These companies have been profiled in the ozone technology market research report on the basis of parameters such as company overview, financial performance, products and services, and recent developments.

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