Recreational oxygen equipment including oxygen bars, portable oxygen concentrators, and liquid oxygen devices are used to provide supplemental oxygen during activities like hiking, cycling, sports, and other recreational activities. Oxygen equipment helps enhance physical performance and endurance by delivering concentrated oxygen directly to the bloodstream. Portable oxygen concentrators are compact, lightweight devices that filter and separate oxygen from ambient air. Liquid oxygen systems provide a continuous supply of medical-grade oxygen through small portable containers.
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 Dynamics:
One of the key drivers for the growth of the recreational oxygen equipment market is the rising popularity of outdoor recreational activities and sports. According to the Outdoor Industry Association, outdoor recreational activities contributed $887 billion to the U.S. economy in 2017. Many athletes and outdoor enthusiasts are adopting supplemental oxygen technologies to boost athletic performance, speed up recovery, increase endurance, and prevent altitude sickness. Portable oxygen concentrators allow participants to enjoy sports and adventures anywhere without being tied to bulky oxygen tanks or compressors. The growing health consciousness and increasing disposable income has also fuelled the demand for oxygen therapy across gyms and health clubs.
Segment Analysis
There are two key segments in the recreational oxygen equipment market – oxygen concentrators and oxygen cylinders. Oxygen concentrators dominate the market with over 65% share as they are cheaper to use compared to oxygen cylinders which require refills. Oxygen concentrators extract oxygen from the surrounding air through a molecular sieving process and provide a continuous flow of concentrated oxygen without needing refills. Their portability and ease of use has made them very popular for recreational use during hiking, mountain biking or other outdoor activities.
PEST Analysis
Political: The market is positively impacted by regulations promoting inclusion and equitable access for people with disabilities or medical conditions. However, excess restrictions on transportation of oxygen cylinders can hamper cross-border trade.
Economic: The rising disposable incomes and lifestyle changes have boosted outdoor recreational activities driving demand. However, economic slowdowns can negatively impact discretionary spend on such equipment.
Social: Changing attitudes towards active lifestyles and wellness have increased participation in various recreational activities requiring oxygen equipment. Social media is also promoting their usage.
Technological: Advancements in oxygen concentrator and sensor technologies have improved performance, reduced sizes and made units more portable. Bluetooth and WiFi connectivity in new models aid remote monitoring.
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 leads the market currently dominating over 40% share due to widespread outdoors activities in 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 like Inogen have witnessed strong sales growth by enhancing their direct-to-customer business and expanding into international markets like Europe, Canada and New Zealand. Their portable oxygen concentrators are very popular for mountain climbing, hiking and other recreational activities. Advancements in lithium-ion battery technologies have enabled smaller, wireless units with improved battery backup.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
