Outlook on the Ballast Water Treatment Global Market to 2026 – Growing Focus Preserving and Protecting Marine Ecosystems is Driving Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Ballast Water Treatment Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.

The global ballast water treatment market is evaluated at US$22.453 billion for the year 2019 and is projected to grow at a CAGR of 25.31% to reach a market size of US$ 108.951 billion by the year 2026.

Rising healthcare concerns in the marine industry coupled with the high volume of seaborne trades are the major factors driving the demand for ballast water treatment solutions. Increasing awareness regarding its advantages and more vendors entering the market will further add to the growing demand for these water treatment systems over the forecast period.

The shipping industry faces a key problem of Invasive Aquatic Species in ship’s ballast water. This poses a great threat to the marine ecosystem as well. These aquatic species have led to an increase in bio-invasion at an alarming rate. Under IMO’s “International Convention for the Control and Management of Ship’s Ballast Water and Sediments”, implementation SZZof ballast water management plan and ballast water treatment system onboard ships has thus become important. The IMO Ballast Water Management Convention was adopted in 2004 to address this issue at an international scale and is finally approaching the target shipping capacity it requires for ratification.

Several key factors are considered before selecting a ballast water treatment solution for a ship. Some of the main factors to be considered include Effectiveness on ballast water organisms, Cost-effectiveness, Environment-friendliness, Safety of the crew, Ease of installation and operation, Space availability onboard.

The principal factor driving the ballast water treatment system is the growing focus on preserving and protecting the marine ecosystem from pollutants and other toxic species. As per the United Nations Environment Programme (UNEP), in 2018, the world invested around 200 million US dollars in ocean energy technologies, up from 100 million US dollars in 2006.

The advent of COVID-19 hurt the global Ballast water treatment market. The immense downturn in the global shipping and the marine industry has been a significant reason for the decline in the demand for Ballast water treatment at a global level. Moreover, the pandemic restricted the transportation of goods through marine containers and also the owners of boats to take their marine vessels into the waters. After the initial lockdown period, boating came back but with restrictions and certain protocols that were required to be followed like the ship will be operated with a lesser capacity which will require less labor to come in contact, and social distancing was required to be maintained at the fuel dock as well. Moreover, the sales of commercial and personal boats dipped during the initial months of the year owing to the lockdown which led to the shutting down of the sellers for a certain period initially. With the industries recovering after the pandemic gradually, the marine business is expected to operate in full capacity starting from the third and fourth quarters of 2021.

The ballast water treatment market has been segmented based on technology, service, ship type, and geography. By technology, the market has been segmented based on physical disinfection, mechanical method, and chemical method. By service, the market has been segmented as recommissioning, performance measurement and, installation and calibration. By ship type, the market has been segmented as container ships, tankers, dry bulk carriers, general cargo, and others. Furthermore, based on geography, the global market has been distributed as North America, South America, Europe, Middle East and Africa, and the Asia Pacific.

Companies Mentioned

• Wartsila Oyj Abp
• Alfa Laval AB
• Xylem Inc.
• Evoqua Water Technologies LLC
• Calgon Carbon Corporation
• Mitsubishi Heavy Industries Ltd.
• Veolia Environnement S.A.
• atg UV Technology Ltd
• Headway Technology Co., Ltd.
• Trojan Marinex Inc.

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics

4.1. Market Drivers

4.2. Market Restraints

4.3. Porters Five Forces Analysis

4.4. Industry Value Chain Analysis

5. Ballast Water Treatment Market Analysis, by Technology

6. Ballast Water Treatment Market Analysis, by Service

7. Ballast Water Treatment Market Analysis, by Ship type

8. Ballast Water Treatment Market Analysis, by Geography

9. Competitive Environment and Analysis

10. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/fq5bpl

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