Ozone is a naturally occurring gas that is made up of three oxygen atoms. It is a reactive toxic and highly unstable gas, which combines with other gases in the air and when found in the stratosphere is known as stratospheric ozone. I addition, ozone protects living things from the harmful ultraviolet (UV) rays of the sun. Ozone helps in the treatment of pharmaceutical and industrial wastes and lighten pulp & paper. Pharmaceutical and industrial discharges containing small quantities of organic compounds, pharmacological compounds, and industrial solvents are rendered by ozone treatment, which results in long-term environmental benefits.
Ozone generation is majorly used for air purification and water treatment. Ozone generators are also used for size effluent and bio-waste treatment. The use of ozone for bio-waste treatment decreases the consumption of chemical & energy treatment which helps in reducing the overall cost related with bio-waste treatment.
COVID-19 Impact and Key Developments in the Global Market
The COVID-19 pandemic has negatively impacted the global ozone generation market owing to the shutting down of various industries to prevent the spread of the deadly coronavirus. However, the prominent players of the market are adopting several strategies such as novel generator launches and others to sustain in the pandemic crisis.
For instance, in July 2020, Airthereal announced the launch of a brand-new, mini & portable ozone generator namely ‘PA50-GO’ for traveling and for small spaces to support homeowners and businesses in the indoor disinfection and cleaning process. The portable ozone generator is available in blue and yellow, is a cordless, battery-powered equipment that is optimal for cars, staying and traveling in unfamiliar spaces, mainly because people should begin to mobilize more during the pandemic.
Moreover, the major market players are increasingly focusing on technological advancements and adopting numerous growth strategies such as mergers & acquisitions, partnerships, partnerships, and novel product launches to obtain a robust position in the overall market, which is subsequently supporting the ozone generation market to grow at a rapid pace.
For instance, in September 2017, Aqua-Aerobic Systems, Inc. and Pinnacle Ozone Solutions, LLC entered into a strategic partnership that confirms Aqua-Aerobic as the exclusive municipal distributor for Pinnacle Ozone’s ozone generation systems. The developed products will be marketed under the brand name of Aqua ElectrOzone M-Series, with models accessible to produce ozone outputs with ranges from 6.8 Kg/Day to 245 Kg/Day.
In August 2020, Faraday Ozone, launched ‘Ozodip,’ which is a patented ozone-based food detoxifier. It is a kitchen ozone generation product that uses ozone to remove all types of viruses, bacteria, and other microorganisms from the surface of vegetables, fruits, meat, fish, and other food products such as cereals. According to the company, Ozodip also effectively eliminates high concentrations of residual chemicals and pesticides
Forecast Analysis of Ozone Generation Market
Global ozone generation market is anticipated to witness a significant growth over the period of forecast owing to the increasing population and rapid urbanization all over the world. The continuous developments in ozone generation technologies across the globe is expected to create lucrative growth opportunities in the global market. Conversely, the high installation costs of ozone generators is predicted to hamper the market growth during the forecast period.
The growing need for clean drinking water along with the growing usage of ozone technologies are the significant factors expected to foster the growth of the global ozone generation market by 2026. Research Dive in its newly published report anticipates that the ozone generation market will generate a revenue of S$1,624.7 million during the forecast period. The Asia Pacific region is likely to hold a significant share in the global market in the estimated timeframe primarily due to the rise in industrialization & urbanization and the increase in the shortage of water in the region. The prominent players operating in the global industry include Chemtronics Co. Ltd, Absolute Systems, Custom Molded Products LLC, EBARA Technologies Inc., Dayton Water Systems, ESCO International, Mitsubishi Electric Corp., International Ozone, Suez, and Toshiba Infrastructure Systems & Solutions Corporation.