Recreational Oxygen Equipment Market Is Estimated To High Growth |...

Recreational Oxygen Equipment Market Is Estimated To High Growth

Posted 2023-11-06 13:03:18

The Recreational Oxygen Equipment Market is estimated to be valued at US$ 5.14 Bn 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:
Recreational oxygen equipment includes portable oxygen concentrators, cylinders & masks, and bar equipment that provide oxygen therapy during sports, mountaineering, travel to high altitude, and other recreational activities. Portable oxygen concentrators are gaining significant popularity due to their compact size and easy availability of oxygen anywhere. They help athletes and hikers breathe easily during high intensity workouts or at high altitudes.

Market Dynamics:
The recreational oxygen equipment market is witnessing high growth owing to rising popularity of outdoor activities such as hiking, cycling, mountaineering etc. and focus on health and wellness. According to studies, about 6 million Americans participate in outdoor rock climbing each year, thus driving demand for portable oxygen supplies. Growing health conscious population and expanding middle class households in emerging economies are also contributing to market growth. Additionally, technological advancements in portable oxygen concentrators to make them compact, durable and easy to use are attracting more users. However, high costs associated with recreational oxygen equipment compared to medical-grade products may limit Recreational Oxygen Equipment Market expansion to some extent over the forecast period.