The COVID-19 pandemic has adversely impacted the growth of the recreational oxygen equipment market in 2020. The imposition of nationwide lockdowns resulted in the closure of health clubs, gyms, spas and wellness centers which led to a decline in the demand for recreational oxygen equipment. In addition, international travel restrictions halted tourism activities near health resorts utilizing oxygen and reduced the adoption of recreational oxygen equipment. However, with easing lockdown restrictions in 2021 and increasing awareness about health and fitness, the demand is projected to bounce back gradually.

It is expected that post-COVID period will see increased focus on individual well-being and preventive healthcare. More people may turn to recreational oxygen therapy for its numerous reported health benefits like enhanced energy levels, boosted immunity and improved endurance. This could further boost the adoption of recreational oxygen equipment for at-home use. Manufacturers may also introduce compact and affordable portable oxygen concentrators to cater to rising demand from individual consumers. With economic activities reviving and tourism gaining momentum again, the demand from wellness centers, spas and resorts utilizing recreational oxygen is also likely to recover in the coming years.

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. These players are focusing on new product launches and expanding their regional footprint to gain market share.

The key opportunities in the recreational oxygen equipment market include rising diving tourism globally and increasing popularity of recreational activities like scuba diving and mountaineering among millennial. Manufacturers are also focusing on developing technologically advanced and lightweight recreational oxygen equipment to capitalize on the demand.

On the global expansion front, manufacturers are focusing on penetrating developing markets in Asia Pacific and Latin America through partnerships with local distributors. This is due to growing participation in recreational water sports and mountaineering in countries like China, India, Brazil and Mexico.

Market drivers
Rising popularity of recreational activities like scuba diving and mountaineering among millennials is a major driver for the recreational oxygen equipment market. According to statistics, around 26 million Americans participated in recreational scuba diving in 2018 indicating rising popularity. This growing participation rate in water and mountain recreational activities is expected to drive the demand for oxygen equipment over the forecast period.

Market restraints
High cost of technologically advanced oxygen equipment like rebreathers can restrain the mass adoption of such devices. Rebreathers are costly owing to their complexity and need experienced user which acts as a barrier for new customers. Availability of low cost alternatives like oxygen cylinders is also a challenge faced by manufacturers of advanced oxygen equipment.

Geographical Regions with High Concentration in Recreational Oxygen Equipment Market

North America held the largest share of the global recreational oxygen equipment market in terms of value in the pre-COVID period owing to high awareness, advanced healthcare infrastructure and growing health and wellness trends. Countries like the United States and Canada have seen rising adoption of recreational oxygen therapy in gyms, spas and for individual home usage. The region is expected to retain its leading position and demonstrate steady demand growth in the post-COVID period as well.

Fastest Growing Region for Recreational Oxygen Equipment Market

Asia Pacific region is projected to be the fastest growing regional market for recreational oxygen equipment during the forecast period. Increasing health consciousness, growing medical tourism industry and rapidly improving healthcare infrastructure are some of the key factors fueling the adoption of recreational oxygen equipment across countries like China, India and Japan. Rising disposable incomes also enable more people in the region to avail recreational oxygen services for improved well-being and fitness. Advantages like pain relief, wound healing and cardiovascular benefits are further propelling the popularity and uptake of recreational oxygen therapy in Asia Pacific.

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