PUNE, MAHARASHTRA, INDIA, October 10, 2019 /EINPresswire.com/ — Summary:
A new market study, titled “Discover Global Ozone Generator Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Global Ozone Generator Market
An ozone generator is a device which is responsible for the production of ozone. The device exposes oxygen (O2) with an energy source to produce ozone (O3). Once the oxygen exposed to the energy, the two oxygen atoms are separated from each other. The individual oxygen atom bonds in a group of three to form O3 (ozone). As the requirement for ozone is gradually increasing at the global level, the industry is expected to grow shortly.
Primarily, the ozone is used for air cleaning purpose. The ozone air cleaner extensively used in various residential and commercial areas to remove dangerous indoor airborne particles. Ozone is also used to improve the intake of oxygen in the body and ensures better usability. It helps to activate the body’s immune system. Ozone therapy is widely used to limit the effects of various microorganisms like viruses, fungi, protozoa, yeast, and bacteria. Thanks to ozone’s oxidation power, it can be used for water treatment purpose to remove the color, odor and taste of water.
Due to a wide range of application and high-profit margin, investors are risking their money in Ozone Generator Market. The top five biggest company in the market contributes 36% of the revenue market. According to a study, the global Ozone Generator Market reaches past 450 million USD in 2019. The industry is expected to grow at a compound annual growth rate (CAGR) of 3.2% over the next five years. As a result, the global market share will reach 530 million USD by the end of 2024.
Market Segmentation of World Ozone Generator Industry
The global Ozone Generator Market can be segmented by product type, application, and region.
Based on product type, the market can be segmented into Small Ozone Generator, Middle Ozone Generator, and Large Ozone Generator.
By application, the market can be classified as Potable Water Treatment, Food, Medical,
Industrial wastewater treatment, municipal wastewater treatment, and Gas denitrification.
Geographical Market Segmentation of World Ozone Generator Industry
The regional market segmentation of global Ozone Generator Market includes Indo-Pacific, Latin & Central America, Eastern Europe, Middle East & African region, North America, and Western Europe.
Some of the focused countries in the forecast are Saudi Arabia, U.A.E., Canada, France, the USA, Japan, India, Brazil, Mexico, Italy, Russia, the UK, Germany, China, Indonesia, South Africa, Spain, and Argentina.
Europe produces the highest amount of ozone generator and leading the whole industry, followed by China which occupied around 30% of the total production in 2017. North America region is rapidly growing its market share. China is the largest consumer of ozone generator accounting 26% of the world consumption.
Recent News from the Industry
Recently, a West Indian city Mohali organized a three-day international conference on holistic healing. In the conference, experts analyzed different aspects of diseases and healing process. The representatives from the ozone trust of India discussed the chronic diseases and the effect of ozone therapy. A study suggests that ozone therapy can be a potential solution for different chronic diseases, and the world can see more of its application in the coming years.
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Source: EIN Presswire