Ballast Water Treatment Systems (BWTS) Market
Stationary Ballast Water Treatment Systems Market Size, Share Analysis by Tank Capacity (less than 1500 m3, between 1500 – 5000 m3, greater than 5000m3), by Treatment (Chemical Treatment, Physical Treatment), Application (Stationary, Portable)- Global Market Insights 2020 to 2030
Ballast Water Treatment Systems (BWTS) Market: About the Report
As time has passed, companies have been increasingly favoring chemical-free ways of treating ballast water, which is why physical treatment is gaining importance. Eco-friendliness is an important factor that market players will have to consider over the coming years, which will also offer increasing opportunities for market players.
Fact.MR’s report dives deep into the reasons as to why the ballast water treatment systems (BWTS) market is slated to surge ahead at an impressive rate over the next ten years. With both, regional and international trade, especially sea trade only set to increase as the years go by, demand for BWTS will see an uptick across regions.
Interested to Procure The Data
Ballast Water Treatment Systems Market Overview
Ballast water treatment systems are used to maintain balance of the marine ecosystem by filtering and disinfecting ballast water. Several technologies are used in ballast water treatment systems to avoid polluting sea water.
Rising focus on preserving and protecting marine life and ecosystem is driving the expansion of the global ballast water treatment systems market size. Loading and unloading of ballast water can cause a threat to the environment and public health if not handled properly, with organisms transferred from one ecosystem to another.
To check potential harm to the seawater by foreign toxic species such as pathogens and other organisms, the International marine Organization (IMO) has imposed strict regulations for the same. These regulations and their strict enforcement are making owners install ballast water treatment systems on ships, which is propelling market growth further.
The global ballast water treatment systems market is projected to grow at an exemplary growth rate of around 10% over the forecast period of 2020-2030, according to a recent report by Fact.MR.
Ballast Water Treatment Systems Market Trends
Increasing Sea Trade Fueling Demand: Marine trade has witnessed multifold growth in the past few decades. Rising international trade through seaways is one of the key drivers of the ballast water treatment systems market. Marine transport is a cost-effective and efficient way of transportation for mass goods and raw materials.
Also, it offers great convenience as compared to other transport means, worldwide. Nearly 90% of world trade is carried out through seaways. This factor will aid the growth of the global ballast water treatment systems market over the long-term forecast period.
International Maritime Organization (IMO) Regulations Boosting Market Growth: Countries across the world have regulations in place to protect the marine environment. When it comes to international trade, it is difficult for foreign manufacturers to follow these guidelines, as their product portfolios are different. The United Nations (UN) is thus implementing standard regulatory guidelines that will be the same for all nations. This is expected to be a key factor in augmenting the growth of global BWTS market in the near future.
Rising Trade Activities in Developing Countries to Aid Growth: Increasing international trade in developing economies is expected to drive the ballast water treatment systems market over the next decade. Countries in Asia Pacific and Africa have been seeing a rise in trade activities. Industrial development in these emerging economies is fueling business growth in these regions.
Governments in these countries are trying to boost international trade by bringing in various favorable policies and agreements. These factors are resulting in increased demand for container vessels, cargo ships, and many others, which bodes well for the growth of the global ballast water treatment systems market.
BWTS Market Insights by Treatment
The global ballast water treatment systems market is segmented on the basis of treatment as chemical treatment and physical treatment. Chemical treatment is further classified into chlorination, ozonation, electro chlorination, and others. On the other hand, physical treatment has sub-segments such as deoxygenation, UV irradiation, ultrasonic, and others.
The chemical treatment segment is expected to continue to lead the BWTS market over the forecast period. Meanwhile, the physical treatment segment is expected to witness accelerated growth, to reach a market valuation of around US$ 4 Bn by the end of forecast period.
UV irradiation is the most popular method under physical treatment, and thus, UV-based systems are expected to see an increase in adaptability in the near future.
An Adaptive Approach to Modern-day Research Needs
BWTS Market Insights by Tank Capacity
Ballast water treatment systems are segmented based on tank capacity as systems with tank capacity of less than 1500 m3, between 1500 – 5000 m3, and greater than 5000m3.
Out of these segments, systems with a tank capacity between 1500 – 5000 m3 are projected to rule the market over the forecast period, followed by systems with more than 5000 m3 tank capacity.
BWTS Market Insights by Application
Ballast water treatment systems are categorized based on applications as stationary and portable.
Stationary ballast water treatment systems capture approximately 3/4 of the market share, and are expected to maintain this dominant position over the forecast period too.
Avail customized purchase options for your needs
Regional Outlook of Ballast Water Treatment Systems Market
North America is expected to lead the global ballast water systems market share. Owing to its vast marine trade activities, the region is projected to witness high growth over the coming years. Europe also has a lucrative market for ballast water treatment systems.
The BWTS market in Asia Pacific is projected to witness significant growth during the forecast period (2020-2030). With rise in international trade in the region, led by countries such as India and China, the region is anticipated to be the most lucrative ballast water treatment systems market over the next decade.
BWTS Market: Competitive Landscape
Players in the global ballast water treatment systems market are investing in research & development activities to come up with innovative additions to these systems. Also, mergers and acquisitions are a key focus of market players to gain an edge over the competition. Apart from this, companies are looking at partnerships and collaborations as a way to stay ahead of the competition.
However, technological advancements along with expansion strategies are expected to remain key strategies of players in the BWTS market over the forecast period.
- For instance, The Hyde GUARDIAN-US BTWS has tested its new system as per IMO norms in the U.S. The new system has unique features such as automatic flow regulation, which ensures that the system is capable of managing changing water quality in order to achieve compliance.
- Also, Hyde Marine has come up with an alarm that signals if the system is operating outside test boundaries. This helps the crew to initiate contingency measures for non-compliant waters, so that deballasting and cargo loading is not impacted.
Bawat a/s.The Analyst’s Quote
Companies are favoring chemical-free ways of treating ballast water. Thus, physical ballast water treatment systems are expected to gain traction in the near future, owing to their non-chemical nature and features such as environment-friendliness, cost-effectiveness, and effectiveness in treating invasive organisms.
COVID-19 Impact on Ballast Water Treatment Systems Market
The global ballast water treatment system market has seen steady growth over the past decade. The market is expected to grow at a significant rate over the forecast period too, owing to factors such as rising seaborne trade, economic development of countries, growing shipbuilding sector, and initiatives to protect the marine ecosystem, among others.
However, the BWTS market has witnessed challenges in the face of the COVID-19 pandemic. Industries across the world have been impacted, and social distancing norms have affected production across all sectors. The ballast water treatment systems industry has also suffered as trading was impacted due to transport restrictions. As the world is returning to normalcy slowly and trading is gradually resuming, the ballast water treatment systems market is expected to regain its true position in the next few years.
Key Segments Covered
- Chemical Treatment
- Physical Treatment
- Less than 1500 m3
- 1500 to 5000 m3
- Greater than 5000 m3
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
- FAQs -
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
Erythropoietic Protoporphyria (EPP) Treatment Market research report covers detailed information on ...
Chemotherapy-Induced Nausea and Vomiting (CINV) Treatment Market to reach a valuation of US$ 5.7 bil...
Huntington’s Disease Treatment Market is expected to grow at a CAGR of 20% from 2022-2032. Symptom...