What Factors Propelled The Growth Of The Ballast Water Treatment Market In The Past?
The ballast water treatment market has seen considerable growth due to a variety of factors.
• The dimension of the ballast water treatment market has expanded significantly in the past few years. The market, which is anticipated to be worth $104.97 billion in 2024, is predicted to swell to $140.42 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 33.8%. Factors that have contributed to the impressive growth in the historical period include management of invasive species, conservation of biodiversity, public knowledge, standardization within the industry and concerns regarding insurance and liability.
How Will the Ballast Water Treatment Market Size Evolve over the Forecast Period?
The Ballast Water Treatment market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the ballast water treatment market to undergo rapid expansion in the upcoming years with an anticipated growth to $426.04 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 32.0%.
The projected growth trajectory during this period can be traced to the expanding global shipping fleet, market competitiveness, government incentives, social activism, and the emphasis on environmentally friendly shipping. The period is also forecast to witness key market trends including technological advancements in treatment methods, retrofit installations and new buildings, heightened evaluation on the performance of systems, research and advancement for future systems, a growing understanding of the consequences of invasive species, an emphasis on economical solutions, as well as, monitoring and reporting technologies.
Which Factors Are Boosting Growth In The Ballast Water Treatment Market?
The emphasis on safeguarding marine ecosystems from pollution is serving as a stimulant for the expansion of the ballast water treatment market. Marine ecosystems are water-based environments with a high concentration of dissolved salts. They consist of the deep sea, the vast open ocean, and coastal marine habitats, each possessing unique physical and biological features. Pollution threatens numerous sectors and is unavoidably entwined with other major global challenges such as climate change and the loss of biodiversity. The fight against marine pollution is a global concern that requires an international solution for effective reduction. For example, the United Nations Environment Programme (UNEP) reported in June 2022 that marine litter and plastic waste are on the rise at a rapid pace. Without immediate measures, it is anticipated that plastic discharge into water bodies will almost quadruple by 2040. A multitude of individuals attended the United Nations Ocean Conference held at Altice Arena in Lisbon, Portugal. Capitalizing on the global reach of the event, experts are campaigning for a new global agreement to fight pollution, particularly in the sea. Consequently, the heightened focus on preserving marine ecosystems from pollutants is projected to boost the progress of the ballast water treatment market.
What Key Areas Define The Segmentation Of The Global Ballast Water Treatment Market?
The ballast water treatment market covered in this report is segmented –
1) By Technology: Physical Disinfection, Mechanical Method, Chemical Method
2) By Capacity: Less Than 1,500 m3, 1,500–5,000 m3, More Than 5,000 m3
3) By Service: Installation And Calibration, Performance Measurement, Recommissioning
4) By Ship Type: Container Ships, Dry Bulk Carriers, Tankers, General Cargos, Other Ship Types
Subsegments:
1) By Physical Disinfection: Ultraviolet (UV) Treatment, Thermal Treatment, Filtration Methods
2) By Mechanical Method: Centrifugation, Hydrocyclones, Settling Tanks
3) By Chemical Method: Chlorination, Ozonation, Electrochlorination, Other Chemical Treatments
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How Are Emerging Trends Reshaping The Dynamics Of The Ballast Water Treatment Market?
The sphere of technological innovation is a significant trend occurring in the ballast water treatment market. Well-known market participants are prioritizing the development of novel technologies including ballast water management systems. For example, the BIO-UV Group, a firm headquartered in the UK committed to manufacturing water purification and disinfection systems, introduced the BIO-SEA L01-0030 Mini in October 2023. This product, being the smallest UV-based ballast water treatment system (BWTS) on sale, caters to the needs of workboats, yachts, research vessels, and offshore support vessels operators. This fully autonomous system that incorporates filtration and UV treatment is designed specifically for ballast water flow rates that range from 13 m3/h to 30 m3/h (cubic meters per hour). Apart from being compact with a skid footprint of only 1 m2 (square meter), the BIO-SEA L01-0030 Mini also provides an effective response for the growing requirement of ballast water treatment systems.
Who Are the Key Players In The Ballast Water Treatment Market?
Major companies operating in the ballast water treatment market include:
• Wärtsilä Corporation
• Xylem Inc.
• Evoqua Water Technologies LLC
• Calgon Carbon Corporation
• Ecochlor Inc
• Alfa Laval AB
• GEA Group AG
• Hitachi Ltd.
• Veolia Water Technologies
• Norwegian Greentech AS
• ERMA FIRST ESK Engineering Solutions S.A.
• Industrie De Nora S.p.A.
• Atlantium Technologies Ltd.
• BIO-UV Group
• DESMI A/S
• JFE Engineering Corporation
• Mitsubishi Heavy Industries Ltd.
• PANASIA CO. LTD
• BioMicrobics Inc.
• Wuxi Brightsky Electronic Co. Ltd.
• Hyde Marine Inc.
• TECO Technologies Inc.
• D2 Marine Solutions
• Boll Filter Corporation
• Aquarius Marine Coatings Ltd.
• Cathelco Ltd.
• Coldharbour Marine Ltd.
• Damen Green Solutions
• Filtertechnik Jäger GmbH
• Hatenboer-Water BV
• Headway Technology Group Co. Ltd.
What Is The Most Dominant Region In The Ballast Water Treatment Market?
Asia-Pacific was the largest region in the ballast water treatment market share in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the ballast water treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
