April 24, 2024
Recreational Oxygen Equipment Market

Recreational Oxygen Equipment Market Is Gaining Traction With Rising Demand For Adventure Sports

The recreational oxygen equipment market comprises oxygen cylinders, oxygen concentrators, and oxygen kits that are used during recreational activities like hiking, mountain climbing, scuba diving and others. Recreational oxygen equipment ensures adequate oxygen supply during intense physical activities at high altitudes where atmospheric pressure and oxygen levels are low. Oxygen cylinders store oxygen gas in pressurized state for inhalation, while oxygen concentrators filter nitrogen from ambient air to enrich it with oxygen. Oxygen kits contain lightweight and portable accessories like oxygen masks and tubing for ease of use. Growing popularity of adventure sports has increased the demand for recreational oxygen gear that reduces risks of altitude sickness.

The Global Recreational Oxygen Equipment Market Size 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 2030.

Key Takeaways

Key players operating in the recreational oxygen equipment market are General Electric Company, Siemens AG, Andritz AG, Voith GmbH & Co. KGaA, China Yangtze Power Co. Ltd, PJSC RusHydro, Électricité de France SA (EDF), and Iberdrola SA.

The demand for recreational oxygen gear is growing in tandem with rising participation in adventure sports activities globally. Manufacturers are developing more compact and lightweight oxygen cylinders as well as portable oxygen concentrators to boost uptake.

Leading players are also expanding their presence across international markets through partnerships and regional distribution networks. They are focusing on emerging countries in Asia Pacific and Latin America where interest in recreational activities is surging.

Market Trends

One of the key trends in the recreational oxygen equipment market is the growing popularity of portable oxygen concentrators. They offer advantages like noiseless operation, rechargeable batteries for cordless use, and ability to deliver continuous oxygen flow during physical activity outdoors. Manufacturers are unveiling compact concentrators weighing less than 2 kgs for enhanced user convenience. Furthermore, integration of additional features like oxygen flow meters, pulse oximeters and GPS trackers in recreational oxygen kits is also gaining traction. This is empowering users to accurately monitor vital health parameters during adventures.

Porter’s Analysis

Threat of new entrants: High capital investment required to build necessary infrastructure act as a deterrent.

Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes that fulfill similar functionality.

Bargaining power of suppliers: Suppliers have moderate bargaining power due presence of several component manufacturers.

Threat of new substitutes: Threat of substitutes is moderate as alternative renewable sources like solar and wind energy can replace hydroelectric power usage.

Competitive rivalry: Intense competition exists among existing players to gain higher market share.

Geographical Regions

North America accounts for the largest share of the global recreational oxygen equipment market in terms of value. Factors such as increasing health awareness, rising prevalence of respiratory diseases, growing aging population, and technological advancements are driving the market growth in the region.

Asia Pacific is projected to be the fastest growing regional market over the forecast period. Rapid economic development, rising disposable incomes, growing middle class population and increasing focus on sports and physical fitness are fueling the adoption of recreational oxygen equipment in Asia Pacific countries.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it