Ballast Water Treatment Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
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.
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.
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.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
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What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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