Recreational oxygen equipment includes oxygen tanks, oxygen concentrators, cylinders and regulators that are designed for recreational purposes like adventure sports, long distance running and high-altitude health and endurance training. These products provide oxygen therapy to users at higher altitudes where oxygen levels are lower.
The global recreational oxygen equipment market is estimated to be valued at US$ 5.14 Bn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growth of the recreational oxygen equipment market has been accelerated by the boom in adventure tourismactivities like hiking, trekking, mountaineering in the recent years. Many people are taking up adventure sports and challenging themselves by participating in activities at higher altitudes where oxygen levels are lower. Recreational oxygen equipment helps support such activities by providing supplemental oxygen when required. Manufacturers are developing innovative portable oxygen concentrators and tanks that can easily carried during outdoor expeditions. This growing demand from adventure enthusiasts is a key trend driving the recreational oxygen equipment market.
Segment Analysis
The global recreational oxygen equipment market can be segmented based on product, application, and distribution channel. Based on product, the recreational oxygen equipment market can be categorized into portable oxygen concentrators, oxygen cylinders, and home oxygen concentrators. The portable oxygen concentrators segment dominated the market in 2023, accounting for more than 45% share. Portable oxygen concentrators are lightweight and convenient to use, which makes it a popular choice among recreational users.
Key Takeaways
The Global Recreational Oxygen Equipment Market Size is expected to witness high growth during the forecast period of 2023-2030. The global recreational oxygen equipment market is estimated to be valued at US$ 5.14 Bn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030.
Regional analysis
North America currently dominates the global recreational oxygen equipment market, accounting for around 35% share. The easy availability and growing awareness about recreational oxygen therapy is fueling market growth in the region. Asia Pacific is expected to be the fastest-growing market during the forecast period, owing to increasing health and wellness tourism in countries like India and China.
Key players
Key players operating in the recreational oxygen equipment market are Boost Oxygen, LLC, CAIRE Inc. (AirSep), Chart Industries, DeVilbiss Healthcare LLC, Inogen, Inc., Oxygen Plus, Inc., Pure O2 Ltd, Invacare Corporation, Oxyzens, Philips Healthcare, Zadro Health Solutions, and 2ND Wind Oxygen Bars. Boost Oxygen and Inogen are the top players in terms of market share currently, due to their wide product portfolio and strong distribution network across regions.
Get more insights on this topic:
https://www.marketwebjournal.com/recreational-oxygen-equipment-market-insights-trends/
Comments
0 comment