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| Global Recreational Oxygen Equipment Market Size |
Recreational oxygen equipment facilitates enhancement of human performance and
endurance during recreational activities like cycling, running, and
mountaineering. Such equipment helps increase oxygen levels in lungs and
muscles, allowing individuals to experience improved stamina. Growing
participation in recreational sports and adventure activities has propelled
demand for recreational oxygen equipment.
The global
Recreational Oxygen Equipment Market is estimated to be valued at US$ 5.93 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period
2024 to 2031, as highlighted in a new report published by Coherent Market
Insights.
Market key trends
One of the key trends driving growth in the recreational oxygen equipment
market is rising participation in sports and recreational activities in
emerging economies. Expanding middle class population with higher disposable
incomes in developing nations like India, China, Brazil, and others has led to
increased spending on sports and adventure activities. According to data by the
UN World Tourism Organization, international tourist arrivals grew
substantially in emerging markets between 2010 and 2020. This has augmented
demand for recreational oxygen equipment among amateur as well as professional
athletes and sports enthusiasts in developing countries. Additionally, growing
health awareness and promotion of active lifestyles by governments worldwide is
anticipated to boost the adoption of recreational oxygen equipment over the
forecast period.
Segment Analysis
The global recreational oxygen equipment market is dominated by cryogenic
oxygen segments which holds around 60% share as of 2022. Cryogenic oxygen
equipment provides pure oxygen in liquid form which is very economical for
large scale and high volume requirements. The demand for cryogenic oxygen
equipment is high from applications such as oxygen bars, spas and retreat
centers where large quantity of oxygen is required on regular basis.
Key Takeaways
Global
Recreational Oxygen Equipment Market Size is expected to witness high
growth over the forecast period of 2024 to 2031 supported by increasing health
consciousness among people and growing disposable income. The global
Recreational Oxygen Equipment Market is estimated to be valued at US$ 5.93 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period
2024 to 2031.
Regional analysis
North America region currently dominates the global recreational oxygen
equipment market and is expected to continue its dominance during the forecast
period. High awareness about health benefits of using oxygen therapy, sizable
health and wellness industry and affluent consumer base are some key factors
responsible for North America's large share. Asia Pacific region is anticipated
to emerge as the fastest growing market stimulated by rapid economic
development, growing middle class population and their rising expenditure on
wellness and spa treatments.
Key players
Key players operating in the recreational oxygen equipment market are General
Electric Company, Siemens AG and Andritz AG. General Electric Company offers a
wide range of cryogenic oxygen equipment used in various industries including
recreational facilities. Similarly, Siemens AG provides oxygen generating
plants and liquefaction systems catering to different business segments.
Andritz AG is another prominent player engaged in manufacturing air separation
plants, oxygen storage tanks as well as other industrial gas equipment.
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