The Ballast Water Treatment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Ballast Water Treatment Global Market Report 2024, The ballast water treatment market size has grown exponentially in recent years. It will grow from $83.81 billion in 2023 to $121.96 billion in 2024 at a compound annual growth rate (CAGR) of 45.5%. The growth in the historic period can be attributed to invasive species management, biodiversity conservation, public awareness, industry standardization, insurance and liability concerns..
The ballast water treatment market size is expected to see exponential growth in the next few years. It will grow to $505.26 billion in 2028 at a compound annual growth rate (CAGR) of 42.7%. The growth in the forecast period can be attributed to growing global shipping fleet, market competitiveness, government incentives, public pressure and activism, focus on green shipping.. Major trends in the forecast period include advancements in treatment technologies, retrofit installations and newbuilds, increased scrutiny on system performance, research and development for next-generation systems, increased awareness of invasive species impact, focus on cost-effective solutions, monitoring and reporting technologies..
An increase in focus on conserving marine ecosystems from pollutants is driving the growth of the ballast water treatment market. Marine ecosystems are aquatic settings with high dissolved salt levels. These include the open ocean, the deep sea, and coastal marine habitats, each with its own set of physical and biological characteristics. Pollution affects many sectors and is inextricably linked to the other planetary issues of climate change and biodiversity loss. Combating marine pollution is a worldwide concern that requires a global response if it is to be minimized. For instance, according to the United Nations Environment Programme (UNEP), in June 2022, the amount of marine litter and plastic debris is quickly increasing. Without serious action, plastic emissions into aquatic environments are expected to nearly quadruple by 2040. Thousands of people entered Altice Arena in Lisbon, Portugal, for the United Nations Ocean Conference. Taking advantage of the event’s worldwide momentum, experts are advocating for a new international commitment to battle pollution, including at sea. Therefore, an increase in focus on conserving marine ecosystems from pollutants is expected to propel the growth of the ballast water treatment market.
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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
Top Major Players:
Wärtsilä Corporation
Xylem Inc
Evoqua Water Technologies LLC
Calgon Carbon Corporation
Ecochlor Inc
Asia-Pacific was the largest region in the ballast water treatment market share in 2023
Technological advancement is a key trend in the ballast water treatment market. Major market players are focusing their efforts on creating innovative technologies such as ballast water management systems. For instance, in September 2021, Langh Tech, a Finnish technology company, entered the ballast water treatment market with the introduction of a new UV-C-based ballast water management system. Langh Tech achieves these specifications with a type-approved ballast water management system that comprises fine filtration as well as effective UV-C irradiation treatment. The technology is designed for retrofit vessels, confined areas, and particularly difficult operating circumstances.
The ballast water treatment market report table of contents includes:
1. Executive Summary
2. Ballast Water Treatment Market Characteristics
3. Ballast Water Treatment Market Trends And Strategies
4. Ballast Water Treatment Market – Macro Economic Scenario
5. Global Ballast Water Treatment Market Size and Growth
….…….
31. Global Ballast Water Treatment Market Competitive Benchmarking
32. Global Ballast Water Treatment Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Ballast Water Treatment Market
34.Ballast Water Treatment Market Future Outlook and Potential Analysis
35. Appendix
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