Growing focus on preservation and protection of marine life and ecosystem is driving expansion of global ballast water treatment systems market
The emergence of low-cost and environmentally friendly ballast water treatment systems is generating new market potentials and new opportunities, according to Fact.MR. Growing environmental concerns are expected to propel eco-friendly systems around the world. Conserving the marine ecosystem is becoming imperative as pollution levels increase across the world in multiple ways. Therefore, systems that can save the marine ecosystem from harmful microorganisms and pollutants are expected to be most sought after, fueling the growth of the Ballast Water Treatment Systems (BWTS) market.
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Additionally, governments and regulatory bodies around the world are putting in place regulatory measures and policies to ensure environmental safety and sustainability. For example, the International Maritime Organization (IMO) has published guidelines for owners and manufacturers of water treatment systems to follow to ensure minimal harm to the environment. In addition, manufacturers come up with innovative technologies to develop equipment with compact designs to save space and ensure safety. Companies are also developing filterless systems that don’t need generators to operate, making them cost effective and environmentally friendly.
Fact.MR forecasts the global ballast water treatment systems market to grow at an impressive CAGR of 10% over the forecast period of 2020 to 2030.
Key Points from the Ballast Water Treatment Systems Market Report
- The global ballast water treatment systems market is expected to reach a market valuation of nearly US$9 billion by the end of 2030.
- Chemical treatment systems dominate the market; however, physical processing systems are expected to grow significantly over the next decade.
- North America and Europe currently dominate the BWTS market. Asia-Pacific is expected to be the most lucrative BWTS market during the forecast period.
- Ballast water treatment systems with tank capacity of 1,500 to 5,000 m3 are expected to dominate demand in the near future.
- The demand for environmentally friendly water treatment systems is driving the market and is also expected to fuel the growth in the near future.
- The COVID-19 pandemic crisis has hit international trade and transportation resulting in a drop in demand for ballast water treatment systems.
“Eco-friendly ballast water treatment systems that don’t harm the environment will grow in popularity over the years,” says an analyst at Fact.MR.
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Key Questions Answered in Fact.MR’s BWTS Market Report
- Which regions will remain the most profitable regional markets for players in the Ballast Water Treatment Systems market?
- What factors will cause the demand for ballast water treatment systems to change over the assessment period?
- What will be the impact of changing trends on the Ballast Water Treatment Systems market?
- How can market players seize short-term opportunities in the BWTS market in developed regions?
- Which Companies Dominate the Ballast Water Treatment Systems Market?
- What are the winning strategies of players in the ballast water treatment systems market to position themselves in this landscape?
Ballast Water Treatment Systems Market: Competitive Landscape
Players in the global ballast water treatment systems market view mergers, acquisitions, partnerships, and collaborations as a key focus to gain an edge over the competition. Technological advancements as well as expansion strategies are expected to remain key strategies during the forecast period.
Danish company Bawat has launched a new low-cost, “green” ballast water treatment technology. It is powered by waste heat from the ship’s engine. This system requires no filters, chemicals or UV lamps. The Bawat system operates at temperatures ranging from 64°C to 72°C, killing marine organisms in a single process in less time, which promises to minimize the risk of delays or disruptions during cargo handling operations .
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Some of the major players operating in the global ballast water treatment systems market are Wärtsilä Corporation, Damen Shipyards Group, ALFA LAVAL, atg Evoque (Evoque Water Technologies), GenSys GmbH, Evac, Coldharbour Marine Ltd., Ecochlor, GEA Group Aktiengesellschaft, ERMA FIRST ESK Engineering SA, Ferrate Treatment Technologies, LLC, Veolia Water Technologies, Hitachi, Auramarine Ltd. and Bawat a/s.
More Valuable Insights into Ballast Water Treatment Systems Market
In its latest report, Fact.MR has provided an unbiased analysis of the Global Ballast Water Treatment Systems Market including historical statistics data (2015-2019) and demand forecast for the period 2020-2030 The report discusses essential information about the Ballast Water Treatment Systems market in terms of treatment (chemical treatment and physical treatment), tank capacity (less than 1500 m3, 1500 – 5000 m3 and above 5,000 m3) and application (stationary and portable), in 5 key regions (North America, Latin America, Europe, Asia-Pacific, Middle East and Africa).
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