Global O2 Generation Market Types and Applications: Market Growing at a CAGR of 3.58% from 2024 to 2029

Global O2 Generation Market Overview

According to Global Market Monitor, the global O2 generation market size will reach $689.14 million in 2024 with a CAGR of 3.58% from 2024 to 2029.

O2 Generations separate oxygen from the air so that the gas can be fed into industrial processes in real-time or stored in pressure tanks. O2 Generations are used in dozens of industrial applications ranging from gold mining to aquaculture to life support.

Types and Applications of Oxygen Generation

Swing adsorption is a widely used technique because of its high oxygen production capacity. Many countries are focused on providing world-class healthcare services to alleviate different health problems. For example, widespread population growth has greatly increased the global demand for healthcare services. In addition, the expansion of wastewater treatment plants, manufacturing units, and several other entities is expected to drive the oxygen generator market.

Oxygen is the lifeline of human life and is also used in several other applications, where massive population growth and lack of health services in emerging countries are causing trouble for many people. Therefore, the local government has worked with international organizations to improve health services by building new hospitals and renovating existing healthcare centers. Oxygen generations are widely used for oxygen therapy in hospitals and clinics to increase oxygen levels in a patient's blood while reducing blood flow resistance and reducing the workload of the heart. In addition, oxygen is used in waste and water treatment, gas welding, chemical and pharmaceutical plants, and several manufacturing units. Huge population growth, increased investment in the healthcare industry, and expansion of manufacturing units are expected to drive the growth of oxygen generators.

Adoption of IoT Technology

Many O2 Generation manufacturers are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to garner real-time insights and locate gaps in the manufacturing process. Plant managers and senior-level management process, analyze, and interpret the data to improve quality and achieve optimum production levels.

For example, smart systems give information on chemical reactors' working conditions and performance with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns.

The lack of safety measures adopted while handling Oxygen in industries such as manufacturing, mining, etc. limits the growth of the O2 Generation market. Though oxygen is not flammable, it can cause other materials to catch fire. Excess contact with liquid oxygen can cause severe skin and eye irritation and burns as well as frostbite. Further, any leak in oxygen containers if kept in the poorly ventilated room can cause severe damage to life and property. For example, in June 2019, an air separation plant (ASU) in China exploded due to the leakage of Oxygen from its equipment. Therefore, the lack of safety measures while handling Oxygen negatively affects the O2 Generation market.

Drivers	Water Treatment
	Mining & Mineral Processing
	Production technology improvement and product upgrade
	Development of the downstream application industry
Limitations	Regulation from Government
	Fierce Competition
	Price Rises from Labor Costs