by The global Recreational Oxygen Equipment Market is estimated to be valued at US$ 5.14 Bn or Mn 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 Overview:
Recreational oxygen equipment includes portable oxygen concentrators, masks and tubes used during physical activities or recreational high altitude activities. Portable oxygen concentrators are compact, lightweight devices that filter and deliver oxygen directly from ambient air. They provide a convenient alternative to bulky oxygen tanks.
Market key trends:
One of the key trends in the recreational oxygen equipment market is the growth in popularity of outdoor recreation activities like hiking, trekking and mountain biking. The increasing health consciousness and preference for active lifestyles have led more people to take up such activities in recent years. As many of these involve exertion at high altitudes, the use of portable oxygen concentrators helps minimize altitude sickness symptoms and enhances safety. Their compact size makes them ideal for recreational use during travel to places located in mountains or at higher elevations. This growing demand is expected to drive the recreational oxygen equipment market during the forecast period.
Segment Analysis
The Global Recreational Oxygen Equipment Market is segmented into oxygen concentrators, liquid oxygen equipment, and oxygen cylinders. Among these, oxygen concentrators dominate the market and account for over 50% share. Oxygen concentrators are compact, portable, and provide continuous oxygen flow without needing refills. They efficiently separate and deliver oxygen from room air through molecular sieving or pressure swing adsorption techniques, making them a preferred option for various recreational activities.
Key Takeaways
The global recreational oxygen equipment market is expected to witness high growth, exhibiting a CAGR of 16% over the forecast period, due to increasing participation in high-altitude activities and sports.
Regional analysis
North America dominates the recreational oxygen equipment market with over 35% share. Higher consumer awareness about recreational oxygen therapy and presence of key players drive the market in the region. Asia Pacific exhibits the fastest growth backed by growing medical tourism and rising disposable incomes in developing countries.
Key players
Key players operating in the recreational oxygen equipment market include 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. Among these, Boost Oxygen, CAIRE Inc., and Inogen capture major market share due to their strong distribution networks and innovative product portfolios.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
