According to the study undertaken by Astute Analytica the global oxygen generator market was valued at US$ 1,619.8 Million in 2021 and is forecasted to reach US$ 2,545 Million by 2030. The market is expected to register a growth 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. An oxygen generator is a device that uses pressure swing adsorption, a type of selective adsorptive technique to separate oxygen from compressed air (PSA). The oxygen generator machine subsequently produces concentrated oxygen for various applications depending on its usage. Moreover, oxygen generators extract oxygen from the air so that it can be delivered straight into industrial operations or stored in pressure tanks in real-time. 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.
Factors such as government initiatives to manage respiratory disorders and COVID-19 and rising use of oxygen generators in various industries drives the growth in the global oxygen generator market. The COVID-19 outbreak has directly impacted the medical oxygen generators market, as the oxygen demand was amplified across the globe. Moreover, oxygen generators are employed in a variety of industries including gold mine, healthcare, wastewater treatment plants, aquaculture, aerospace, steel industry, welding and others which will increase the demand for oxygen generators and fuel the oxygen generators market’s growth across the globe. Furthermore, mounting demand for portable oxygen generator will create lucrative growth opportunities for the oxygen generator market during the forecast period. However, the high cost of medical oxygen generator restricts the market growth over the forecast period.
Market Segmentation
Small PSA oxygen generator segment is expected to project the highest share in the Global Oxygen Generator Market
Based on type, the oxygen generator market is segmented into small PSA oxygen generator and large PSA oxygen generator. The small PSA oxygen generator is expected to hold the major share during the forecast period owing to its low operation cost, less power consumption and no excess gas production. Moreover, the rising incidence of COVID-19 cases, increasing elderly population base and growing COPD prevalence worldwide has further augmented the market growth of the segment. Whereas large PSA oxygen generator segment is expected to project the highest CAGR in the oxygen generator market in 2021.
Portable oxygen generator is expected to hold the largest market share and is also anticipated to witness the highest CAGR during forecast period
Based on form, the oxygen generator market is classified into portable oxygen generators and stationary oxygen generators. Portable oxygen generator is estimated to project the highest market share during forecast period due to its adoption by travellers for its compact size, lightweight, higher oxygen capacity and better mobility. Also, the portable oxygen generators are expected to project the highest CAGR during the forecast period.
Continuous flow segment is expected to register the highest CAGR during the forecast period
Based on technology, the oxygen generator market is bifurcated into pulse flow and continuous flow. The pulse flow segment contributed the major share in the global oxygen generator market in 2021 owing to its work with patient breathing needs as they detect when patients are about to inhale and delivers a bolus (pulse dosage) of oxygen at the start of breath. Also, pulse flow oxygen generators are usually small, compact and lightweight so they are also easy to take along for daily activities. Moreover, continuous flow segment is expected to project the highest CAGR in the market over forecast period owing to the rise in lifestyle habits, such as smoking & consumption of alcohol and increase in geriatric population.
Home-use oxygen segment dominates the Global Oxygen Generator Market in 2021
Based on applications, the oxygen generator market is segmented into home- use oxygen and industrial oxygen. The industrial oxygen is further classified into sewage and wastewater treatment, steel industry, gold mining, welding, pulp and paper manufacturing, glass blowing and fish farms & aquaculture. The home-use oxygen segment contributed the major share in the global oxygen generator market in 2021 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 segment is projected to grow at the highest CAGR during the forecast period.
North America held the major share in terms of revenue, in the Global Oxygen Generator Market in 2021
Based on geography, North America dominated the global oxygen generator market in 2021owing to rising respiratory diseases, surge in geriatric population and favorable reimbursement policies. Whereas, Asia Pacific oxygen generator market is growing at the highest CAGR during the forecast period. Moreover, the increased demand for portable generator, rising healthcare expenditures and more knowledge about these generators, the market in Asia-Pacific will rise at a fast rate.
Company Profile
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.
Segmentation Overview
Global Oxygen Generator Market is segmented based on type, form, technology, applications and region. The industry trends in the global oxygen generator market are sub-divided into different categories in order to get a holistic view of the global marketplace.
Following are the different segments of the Global Oxygen Generator Market:
By Type segment of the Global Oxygen Generator Market is sub-segmented into:
By Form segment of the Global Oxygen Generator Market is sub-segmented into:
By Technology segment of the Global Oxygen Generator Market is sub-segmented into:
By Applications segment of the Global Oxygen Generator Market is sub-segmented into:
By Region segment of the Global Oxygen Generator Market is sub-segmented into:
