Electrocatalytic Oxidation Equipment Market Size, Share & Industry Analysis, By Type (Direct and Indirect), By Application (Oil & Gas, Industrial, Mining, Agriculture and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Electrocatalytic Oxidation Equipment Market Report Overview

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The global electrocatalytic oxidation equipment market size is expected to be USD 96.1 million in 2022 and is projected to touch USD 151.7 million by 2031, exhibiting a CAGR of 5.2% during the forecast period.

Electrocatalytic oxidation equipment treatment system is a natural and organic, pollutant extraction procedure for wastewater. Furthermore, mainly consumed for oil and gas, industrial, mining, agriculture and other end using industries. Moreover, wastewater treatment through electrocatalytic oxidation and along with electrochemistry, it can alter the physical and chemical structure of the wastage and converts the organic materials into carbon dioxide and water to make the sewage nontoxic and less harmful. Additionally, through the use of the equipment the ease of control is given to users as adjustments can be made to the pressure and electric current, to safeguard the stability of the water during manufacturing and while the contaminants intensity in raw water fluctuates.

The electrocatalytic oxidation equipment market, is inclusive of two differentiated types such as direct and indirect. Firstly, direct electrocatalytic oxidation is a catalytic procedure consisting of oxidation and minimization of agents through the uninterrupted transferal of electrons, which involves electrocatalytic equipment to drop the in excess of capacity of the reactants. Secondly, indirect electrocatalytic oxidation is the process where the organic contaminations are primarily oxidized in the majority of the liquid by chemical reaction with the electro charged active species and consequently the oxidation level relies on the intensity of chloride ions that are oxidized to effective chlorine at the anode exterior.

COVID-19 Impact: Unceasing Spread of COVID-19 Virus generated a Rigid Lockdown

The global COVID-19 pandemic has been unprecedented and staggering, with the electrocatalytic oxidation equipment market experiencing lower-than anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The insensitive spread of the COVID-19 virus led to a colossal growth on a global scale, which forced international agencies to declare a worldwide pandemic. Due to the pandemic, several global businesses accounted a decrease in the demand and experienced unprecedented challenges onto numerous industries and their markets. Moreover, the unparalleled growth of the COVID-19 virus also instigated for a harsh and stiff lockdown, which led to numerous organizations forced into closure and drastic cuts in diverse departments to ensure stability for survival within the market. Furthermore, limitations and inflexible instructions on movement activities harmed the electrocatalytic oxidation equipment market because, its primary consuming markets such as oil & gas, industrial, mining, agriculture and other end using industries experienced an immediate shut down as per government regulations at the time. Moreover, as restrictions were eased but the mining sector, which is one of the biggest consumer of the electrocatalytic oxidation equipment remained shut. Hence, this led to an overall decrease in growth of the market.

LATEST TRENDS

"Advancements in the Product Rises the Efficiency of Outcomes"

The latest trends in the market, is the time taken for the electrocatalytic oxidation equipment is reduced significantly. It is conducted by having the pollutants from waste water, to be in direct contact with purified steam and in a controlled environment condition. Furthermore, the contaminations being exposed to steam assists in a faster oxidation rate, as the steam once in the air would also undergo the oxidation process. Leading towards, the pollutants begin oxidized at twice the rate and also providing a clearer, productive and more efficient outcome of oxidation. Hence, as consumers recognize this advancement and adopt it, which indirectly giving rise to higher demand from consumers in the oil & gas, industrial, mining, agriculture and other end using industries.

Electrocatalytic Oxidation Equipment Market Segmentation

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• By Type

Based on type; Direct and Indirect

Direct type is the leading type in this segment

• By Application

Based on application; Oil & gas, industrial, mining, agriculture and others

Industrial application is the leading application in this segment

DRIVING FACTORS

"Lesser Space Capacity of Advanced Oxidation Augments Market Growth"

 The electrocatalytic oxidation process, has been developed to produce only a small footprint after being consumed. Furthermore, due to the oxidation power, the newly developed advanced oxidation procedures can be conducted in confined areas but in a controlled environment so the flow rate of the process is not hampered. Hence, more consumers recognize and stimulate demand of the electrocatalytic oxidation equipment in diverse markets, as its applications are beneficial. Moreover, this leads towards the electrocatalytic oxidation equipment market growth.

"Extraordinary Purity Rate of the Outcome Boosts Market Growth"

The surges in the market are accounted due to the, better and improved purity output rate through the electrocatalytic oxidation equipment. This occurs because "theoretically, the oxidation process does not add any additional toxic substances into the purified water. Furthermore, it is achieved by the introduction of "an additional de-chlorination phase is recruited before the treatment of the pollutants, so no toxic or harmful materials can affect the accomplished procedure of purified and clear waste water. Hence, as consumers get aware of these key benefits, they would positively stimulate the demand and supply while also boosting the electrocatalytic oxidation equipment market share.

RESTRAINING FACTORS

"Relatively High Costs of the Product Restricts Market Growth"

The biggest disadvantage of electrocatalytic oxidation equipment, is its high cost of preparation and constant maintenance. Moreover, these costs are the most vital because the needed energy levels and specific chemical reagents required for the procedure are very costly. Furthermore, due to this drawback the consumers in the market begin to search for alternatives, and which is expected to hinder the market growth over the current and projected period.

Electrocatalytic Oxidation Equipment Market Regional Insights

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"Asia Pacific Region Holds onto Leading Market Position "

The Asia Pacific region dominates over other competitors in the industry, due to being inclusive of high and growing amounts of agriculture industries and mining industries. Furthermore, with high existence of these markets, it equally side by side positively stimulates the demand for electrocatalytic oxidation. Hence, this factor grows the overall demand and supply of the procedure in this region.

KEY INDUSTRY PLAYERS

"Key Players Aim to Develop Strategies to Spread Awareness"

The key market players look to boost the demand and supply of the processes due to, the rise of agricultural, mining and oil and gas industries. They also begin to strategize to alter the product through research and development process to match consumer needs, and increase the amount of advertising to attract more suited consumers in diverse markets. Additionally, the key players also improve the products applications to get higher sales in the market.

List of Market Players Profiled

• Ground Effects (Canada)
• Jiangsu Jingyuan Environmental Protection (China)
• Wondux (China)
• Wuhan Weimeng (China)
• Shangyu Qingyuan Water Treatment Equipment (China)
• Doromil (China)
• Hebei Fengyuan Green Technology (China)
• Senyang Enviromental (China)

 REPORT COVERAGE

This report is inclusive of the types of the electrocatalytic oxidation equipment and its latest trends, current driving and restraining factors within the market. Additionally, this report details down the key industry players and their strategies and why the leading region earns its position.