by The global Recreational Oxygen Equipment Market is an essential equipment used for various outdoor activities such as hiking, mountaineering and scuba diving. This equipment delivers supplemental oxygen to users for recreational purposes and enhances their ability to engage in strenuous outdoor activities by delivering concentrated oxygen.
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 growing popularity of outdoor recreational activities such as scuba diving, hiking, mountaineering and other adventure sports has been a major driver for the recreational oxygen equipment market. With increasing health consciousness and growing disposable income, participation in outdoor recreational activities has increased manifold over the past few years. This growing demand for adventure sports and outdoor recreational activities has fueled the demand for supplemental oxygen equipment to enable participants to engage in such activities for longer duration while ensuring their safety. Various recreational oxygen equipment such as oxygen concentrators, portable oxygen containers and liquid oxygen devices have thus witnessed significant growth driven by this growing demand for adventure sports globally.
SWOT Analysis
Strength: Recreational oxygen equipment offers numerous health benefits like improved cardiovascular performance, improved muscle recovery and reduced fatigue. This leads to increased adoption.
Weakness: High initial costs associated with recreational oxygen equipment limits widespread adoption. Portability and convenience of use can also be challenges.
Opportunity: Growing health and wellness trends among consumers is driving demand for products that enhance athletic performance and aid recovery. Rapid growth of endurance sports creates opportunities.
Threats: Alternative therapies and lack of clinical evidence could challenge growth. Public perception of risks if misused also poses threats.
Key Takeaways
The Global Recreational Oxygen Equipment Market Size is expected to witness high growth over the forecast period of 2023 to 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.
North America currently dominates the market and is expected to continue its dominance over the forecast period led by growing participation in endurance sports and new product launches. The Asia Pacific region is expected to witness fastest growth led by increasing health awareness and disposable incomes in emerging economies of the region.
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. Key players are focusing on product innovations to capitalize on the growing trend of recreational oxygen therapy. For instance, in 2021 Inogen launched the “Pulse” portable oxygen concentrator featuring respiratory biometric monitoring capabilities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
