Global Ballast Water Treatment Market: Overview
Ballast water treatment involves treatment of ballast water before it is discharged out of the ship at the port or in the mid sea. This is to reduce the harmful effects of aquatic marine organisms on the marine environment that happens at the time of ballistic operations of a ship.
The International Maritime Organization released a convention in February 2004 to control and manage ballast and sediments of ships. In addition, port state authorities around the world have implemented their own requisites that apply on ships for carrying out ballasting and de-ballasting operations in their terrestrial water.
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Global Ballast Water Treatment Market: Key Trends
The ballast water treatment (BWT) market is expected to display substantial growth over the coming years. The growth of this market is driven by governmental mandates that necessitate ships to be installed with BWT systems. In particular, the ratification of International Maritime Organization’s International Convention for the Control and Management of Ship’s Ballast Water and Sediments has mandated ships to be to installed with ballast water treatment system and ballast water management plan to maintain marine ecological balance.
The increasing volume of marine trade is also a major factor boosting the BWT market. This is because marine trade is economical as compared to trade via air cargo. The increasing healthcare concerns in the shipping industry is also leading to the installation of BWT systems in ships. This is because invasion of the ship’s blast by aquatic species carries the risk of germs entering into the main vessel, which is one of the major problems faced by the shipping industry.
The growth of the BWT market is restrained by issues pertaining to storage of disinfected by-products that are generated after water treatment. The continuously evolving government rules and regulations regarding BWT mandates is also challenging the market’s growth. Nevertheless, the implementation of new conventions in favor of installation of BWT systems will benefit the growth of BWT market.
The BWT market is analyzed on the basis of technology, service, capacity, ship type, and geography.
Global Ballast Water Treatment Market: Market Potential
Companies involved in the manufacture of BWT systems are developing solutions that are in the interest of customers. In a recent industry development, Alfa Laval – a company that manufactures ballast water treatment systems announced that the International Maritime Organization (IMO) Ballast Water Management Convention is slated to be effective from September.
Furthermore, it said that PureBallast systems with high flow capacity is of particular interest among customers. This PureBallast 3.1 approved by the IMO and the U.S. Coast Guard features a unique single-filter solution which boosts up ballasting and de-ballasting capacities up to 6000 m3/h with a small carbon footprint.
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Global Ballast Water Treatment Market: Regional Outlook
Asia Pacific stood as one of the leading markets for BWT in the recent past. The region has some prominent ports and harbors for the trade of commodities such as oil and chemicals, automotive components, electronic components and devices that contribute to the growth of shipping and ancillary industries. This is because the International Maritime Organization (IMO) mandates ships to be equipped with BWT systems for ecological reasons, thereby favoring the BWT market.
Global Ballast Water Treatment Market: Competitive Landscape
Some of the major companies operating in the BWT market include Wärtsilä Corporation, Evqua Water Technologies LLC, Ecochlor Inc., Alfa Laval AB, Mitsubishi Heavy Industries Ltd., Qingdao Headway Technology Co. Ltd., Optimarin AS, Xylem Inc., Calgon Carbon Corpoartion, Veolia Environment S.A., Trojan Marinex, atg UV Technology, and JFE Engineering Corporation among others.
Which Regions Covers in the Report Study?
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
What Qualitative and Quantitative Insights in the Report?
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand chain of the market
- Market valuation (revenue and/or volume)
- Key trends/opportunities/challenges
- Forces defining present and estimated future state of the competitive landscape
- Technological developments
- Value chain and stakeholder analysis
Why to Buy this Research Study?
- A detailed analysis of key segments of the market
- Recent developments in the market’s competitive landscape
- Detailed analysis of market segments up to second or third level of segmentation
- Historical, current, and projected future valuation of the market in terms of revenue and/or volume
- Key business strategies adopted by influential market vendors
- Outline of the regulatory framework surrounding and governing numerous aspects of the market
- Growth opportunities in emerging and established markets
- Recommendations to market players to stay ahead of the competition
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