O2 generator market to reach USD 2,545M by 2030

The study undertaken by Astute Analytica foresees a tremendous growth in revenue of the market for global oxygen generator market from US$ 1,619.8 Million in 2021 to US$ 2,545 Million by 2030. The market is anticipated to grow at a CAGR of 5.1% during the forecast period 2022-2030. In terms of volume, the market is registering a CAGR of 4.6% during the forecast period. Oxygen generator are devices which help to concentrate the room air into pure, medical grade oxygen. With today’s cutting-edge technology, oxygen generator can be designed to be lightweight, free of noise and energy efficient which increase their proliferation into various sectors. Moreover, the market for oxygen generator is driven primarily by the growing awareness on increase in the prevalence of respiratory disorders, asthma and chronic obstructive pulmonary disease (COPD) need the additional flow of oxygen. The oxygen generator provides the required oxygen by producing it from the environment. Furthermore, oxygen generators are also used in industrial contexts like fish farms, gold mines, manufacturing companies and even wastewater treatment plants.

On the basis of type, the small PSA oxygen generator is expected to hold the major share during forecast period owing to its low operation cost, less power consumption and no excess gas production. Moreover, based on form, portable oxygen generator is expected to hold the largest market share and is also anticipated to witness the highest CAGR during forecast period due to its compact size, lightweight, higher oxygen capacity and better mobility in the marketplace. Furthermore, in terms of technology, continuous flow segment is expected to project the highest CAGR in the market over the forecast period owing to rise in lifestyle habits, such as smoking & consumption of alcohol and increase in geriatric population. In addition, based on applications, the home-use oxygen segment contributed the major share in the global oxygen generator market in 2021. Whereas, the industrial oxygen segment is projected to grow at the highest CAGR during the forecast period. In addition, North America is the dominating region in the oxygen generator market in 2021 owing to the rising respiratory diseases and favorable reimbursement policies.

Market dynamics and trends
Drivers
The government initiatives to manage respiratory disorders and Covid-19 and rising use of oxygen generators in various industries will boost the global oxygen generator market during forecast period. The Covid-19 outbreak has directly impacted the medical oxygen generators market, as the oxygen demand was amplified across the globe. Moreover, the rising government and non-government body initiatives to aware people regarding the increasing prevalence of respiratory disorders such as chronic bronchitis, asthma, perinatal hypoxia and neonatal oxygen deprivation are expected to increase the adoption of supplementary oxygen products such as concentrators over the forecast period. Furthermore, oxygen generators are employed in a variety of industries including gold mine, healthcare, wastewater treatment plants, aquaculture, aerospace, steel industry, welding, glass blowing, paper and pulp manufacturing and others which will increase the demand for oxygen generators and fuel the oxygen generators market’s growth across the globe.

Restraints
High cost of medical oxygen generator is a restraining factor which inhibits the growth of the market during the forecast period. The high cost of oxygen generator and other development associated to it impede the market growth. The high purity oxygen, automatic operation, high quality parts for less maintenance and guaranteed performance and lower energy and air consumption will enhance the price which led to restrict the market growth.

Regional analysis
US holds a major share in terms of revenue in the North America Oxygen Generator Market in 2021
US dominated the North America market in 2021 owing to rising respiratory diseases, surge in geriatric population and favorable reimbursement policies. Whereas Mexico is projected to grow with the highest CAGR during the forecast period. Among the type segment, small PSA oxygen generator holds the major share in terms of revenue in the North America oxygen generator market during the forecast period. Whereas the large PSA oxygen generator type is projected to grow at a highest CAGR during the forecast period.

Poland is expected to project the highest CAGR in the Europe oxygen generator market during forecast period
Poland is expected to witness the highest CAGR during the forecast period. Moreover, based on form, the portable oxygen generator is expected to hold the largest share and is also anticipated to witness the highest CAGR in the Europe market during forecast period due to its compact size, lightweight, higher oxygen capacity and better mobility.

China is the highest share holder region in the Asia Pacific oxygen generator market in 2021
China holds the major share in the Asia Pacific market in 2021 as China is the central hub for business across industries, as well as one of the fastest growing economies in the world. Whereas, India is expected to project the highest CAGR in the Asia Pacific oxygen generator market during the forecast period due to rapidly increasing prevalence of chronic diseases, infectious diseases and cardiovascular diseases as well as surge in need for oxygen cylinders will boost the market growth in this region. Moreover, based on technology, pulse flow contributed the major share in the Asia Pacific oxygen generator market.

South Africa is expected to hold the largest share and is anticipated to witness the highest CAGR in the MEA market during forecast period
Based on country, South Africa in Middle East & Africa is expected to hold the largest share during forecast period. Also, South Africa is expected to project the highest CAGR during the forecast period in the MEA oxygen generator market over forecast period. On the basis of application, home-use oxygen holds the major share in the Middle East & Africa oxygen generator market as they are designed to be lightweight, free of noise and energy efficient, which increase their proliferation for home-use thereby accelerating the segmental growth. Whereas, the industrial oxygen is projected to grow at the highest CAGR during the forecast period.

Brazil is projected to grow with the highest CAGR in the South America oxygen generator market over forecast period
Brazil held the major share in the South America oxygen generator market in 2021. Also, it is expected to project the highest CAGR in the South America market during the forecast period. Moreover, among the type, the small PSA oxygen generator holds a major share in term of revenue in the South America oxygen generator market during the forecast period. Furthermore, based on technology segment, the continuous flow is projected to grow at the highest CAGR during the forecast period.

Competitive insight
Global oxygen generator market is highly competitive in order to increase their presence in the marketplace. Some of the key players operating in the global oxygen generator market include Atlas Copco, Beijing Shenlu Medical Device Co., Ltd., CAIRE Inc., Drive DeVilbiss Healthcare, Foshan Care Medical Technology Co., Ltd., GCE Group, Inogen Inc., Invacare Inc., Nidek medical Inc., NGK spark plug, Koninklijke Philips N.V. and Teijin Ltd. among others. Astute Analytica