The growing need to treat wastewater in order to make it usable for drinking and other purposes is propelling the growth of the ozone generation technologies market. Ozone technologies disinfect air/gas and wastewater (industrial and municipal), which can be further used for various purposes.
The global market is expected to witness steady growth over the next six years. Some of the major factors driving the demand for ozone generation technologies include water scarcity and the growing need to conserve natural water and treat wastewater. Favorable regulatory norms are also expected to contribute to increased profitability for stakeholders. However, lack of awareness regarding the benefits of this technology in a few underdeveloped countries has been hindering market growth.
Rapid industrialization in the Asia Pacific region coupled with growing disposable incomes in emerging economies of China and India provide immense opportunities to major participants operating in the industry. China and India are the two fastest growing economies in the world, and their GDP growth rates are higher than the global average. Increasing number of industries in Asia Pacific induces more wastewater generation, which in turn escalates the need for water treatment via various means (including ozone generation technologies).
Ozone generation technologies are generally used for treating water and air/gas. Among these applications, wastewater treatment accounts for approximately three fourth of the overall market. Treatment of air/gas is the fastest growing segment of the industry, and accounts for the remaining market share.
Some of the key market players include Absolute Ozone, Alab LLC, Apt Water, BWT Group, Del Ozone, Fuji Electric, Mitsubishi Electric Power Products, Inc., Norland International, and Nutech O3 among others.
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