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.
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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