by The global Recreational Oxygen Equipment Market is estimated to be valued at US$ 5.14 Bn or in 2022 and is expected to exhibit a CAGR of 16.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The recreational oxygen equipment market includes products like portable oxygen concentrators, cylinders/tanks, oxygen bars and others. These equipment provides supplemental oxygen during recreational activities like hiking, mountain biking, and skiing undertaken at high altitudes. Recreational oxygen equipment helps prevent altitude sickness symptoms like shortness of breath, headache and fatigue when carrying out activities at altitudes above 8,000 feet. The demand for recreational oxygen equipment is rising owing to increasing popularity of high-altitude recreational activities among health-conscious people looking for adrenaline-pumping adventure experiences.
Market Key Trends:
The key trends in the recreational oxygen equipment market include technological advancements leading to compact and lightweight products, strong demand from outdoor recreational enthusiasts in developing nations, and growing usage of oxygen bars in fitness centers and wellness retreats. Leading manufacturers are focusing on developing small, portable oxygen concentrators integrated with advanced sensors to monitor oxygen levels and flow rates. The popularity of high-altitude recreational activities is rising in emerging countries like India and Brazil. Additionally, oxygen bars offering short oxygen sessions are gaining popularity in fitness centers as people are increasingly recognizing its health benefits. The trend is expected to drive the Recreational Oxygen Equipment Market during the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low due to high investment cost involved and dominance of existing key players in the market .
Bargaining power of buyers: Bargaining power of buyers is moderate as numerous options are available from existing players in the market.
Bargaining power of suppliers: Bargaining power of suppliers is moderate as main raw materials like oxygen concentrators are available from various suppliers across regions.
Threat of new substitutes: Threat of new substitutes is low as recreational oxygen equipment has few substitutes available.
Competitive rivalry: Intense competition exists among existing key players.
Key Takeaways
The global recreational oxygen equipment market is expected to witness high growth, exhibiting CAGR of 16.7% over the forecast period, due to increasing usages of oxygen equipment during recreational activities.
The global recreational oxygen equipment market size for 2022 was valued at US$ 5.14 Bn. North America dominates the recreational oxygen equipment market currently due to highawareness about hypoxic training and increasing usage of oxygen bars in the region.
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. Chart Industries and Inogen Inc captured major market share in 2021.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
