NEW YORK–(BUSINESS WIRE)–Ozone Technology: Air and Gas to Witness Highest Growth by 2020. This report states that growing at a CAGR of 8.1% from 2014 to 2020, the global ozone technology market will reach $1242 million in 2020 from US$715.4 million in 2013.
The global ozone technology market is essentially driven by greater industrialization, greater urbanization, and high incidence of water contamination. Ozone technology is extensively used for air purification, and disinfection of equipment, water, and surfaces. In healthcare, ozone technology is used in therapy of life threatening diseases. The global ozone technology market is segmented on the basis of application and geography. The various application segments include medicine, potable water, air and gas treatment, waste water, industrial water, and other water. The air and gas segment is expected to witness robust growth in the forthcoming years. The advantages of ozonation include cost benefits, high potential for oxidation, absence of toxic by-products, and quicker processing time as against the conventional techniques of disinfection.
Regionally, the ozone technology market is classified into Europe, North America, the Asia Pacific, and Rest of the World. Interestingly, this highly fragmented market is dominated only by a handful of leading industry players. The challenges facing the global ozone technology market are rising incidence of chronic health problems due to unsafe exposure to ozone, high cost of installation, and high power consumption. Growth of the ozone technology market in many countries is also driven by strict implementation of water treatment regulations that focus on modification of water disinfection methods.
The key players operating in the global ozone technology are BWT Group, MKS Instruments, Inc., Xylem Inc., OZOMAX Inc., OZONIA, and DEL Ozone