Global Ballast Water Treatment Systems Market Cagr, Volume And Value 2020-2021
Summary – A New Market Study, “ Global Ballast Water Treatment Systems Market -2019-2026” Has Been Featured On Wiseguyreports.
Global Ballast Water Treatment Systems Market Overview
The Global Ballast Water Treatment Systems Market is valued at $ XX million in 2018 and is expected to grow at a CAGR of XX% in the forecast period 2019-2026 to reach a value of $ XX million by 2026.
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Global Ballast Water Treatment Systems Market – Market Dynamics
Increasing awareness about the conservation of marine life, stringent regulations imposed by the International Maritime Organization (IMO) upon the spread of harmful organisms into the marine environment and regulations upon the installation of water treatment services for ships are the major factors boosting the growth of the global Ballast Water Treatment Systems market.
Ballast water is comprised of pathogens, disease causing organisms and aquatic microbes which are very harmful to the aquatic life. Release of this untreated ballast water poses a greater risk to the aquatic ecosystem. The International Maritime Organization imposed the creation of the International Convention for the Control and Management of Ships' Ballast Water and Sediments, 2004, which entered into force globally on 8 September 2017. This convention stated that from 8 September 2017, ships must manage their ballast water so that aquatic organisms and pathogens are removed or rendered harmless before the ballast water is released into a new location. This will help prevent the spread of invasive species as well as potentially harmful pathogens. All the ships have to carry a ballast water management plan, a ballast water record book and an International Ballast water management certificate. Such regulations imposed upon the treatment of ballast water have led to the installation of ballast water treatment systems and is one of the critical factors responsible for the growth of the global ballast water treatment systems market.
However, very high costs of ballast water treatment equipment and volatile prices of raw materials are the primary factors restraining the growth of the Ballast water treatment market.
Global Ballast Water Treatment Systems Market – Segment Analysis
Based on the technology, the market is segmented as physical dis-infection, chemical method and mechanical method.
The physical dis-infection method is the dominant segment of the global ballast water treatment market owing to the convenience and effectiveness of this method. Disinfection is the process of elimination of most pathogenic microorganisms (excluding bacterial spores) on inanimate objects. Physical disinfection processes such as sterilization using sunlight, sterilization using action of heat, UV sterilization, radiation, filtration and Ultrasonic vibrational methods are proven to be effective in eliminating 99% of pathogenic micro-organisms . This dis-infection process does not require raw materials in huge quantities and is majorly preferred by many manufacturers as the primary water treatment method and is expected to dominate the global Ballast Water Treatment Systems market in the future.
Based on the ship type, the market is segmented as container ships, general cargos, tankers, carriers, others (dry bulk ships). The container ships segment is the dominant segment of the global Ballast Water Treatment Systems segment of the global Ballast Water Treatment Systems market due to the increasing global trade activities. The United Nations Conference on Trade and Development (UNCTAD) estimates that the operation of merchant ships contributes about US$380 billion in freight rates within the global economy, equivalent to about 5% of total world trade. World seaborne trade volumes expanded by 2.6 per cent, up from 1.8 per cent in 2015. This has spurred the demand for container ships and is a crucial factor boosting the container ships segment to dominate the global Ballast Water Treatment Systems market in the future.
Global Ballast Water Treatment Systems Market– Geographical Analysis
The Global Ballast Water Treatment Systems Market is segmented into North America, Europe, Asia Pacific, South America and Middle East and Africa. The Asia Pacific region is further segmented into the countries such as China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific. The Asia Pacific region is the dominant segment in the Global Ballast Water Treatment Systems Market owing to the increasing trade activities by sea in countries such as China, Hong Kong, Japan and Singapore. According to the statistics published by The United Nations Conference on Trade and Development (UNCTAD), the Asia Pacific region’s total loaded goods which were traded via sea increased from 3882.9 million tons in 2015 to 3923.0 million tons in 2016. The total unloaded goods amounted to 809.6 million tons in 2015 which increased to 899.7 million tons in 2016. The increasing trade activities in the Asia Pacific region has led to the deployment of more fleet of cargo ships and carriers which are in turn boosting the demand for ballast water treatment installations on board.
Global Ballast Water Treatment Systems Market– Competitive Analysis
New product launches, expansion of facilities, mergers and acquisitions and strategic partnerships are vital strategies adopted by most of the companies to contribute to the growth of the company and improve their market growth rate.
For instance, in April 2019, Israeli-based Atlantium Technologies is readying its proprietary ballast water management system (BWMS) for a full commercial launch before the end of this year, as the UV-based system is undergoing a shipboard testing on a Zim mid-sized container.
Moreover, in March 2019, ALFA LAVAL signed an agreement with Europe-based shipping company, TORM to fit the ballast water treatment system by Alfa Laval across the 36 existing product tankers in its fleet.
Why Purchase the Report?
• Visualize the composition of the Global Ballast Water Treatment Systems Market across each indication, in terms of type and medications options, highlighting the key commercial assets and players.
• Identify commercial opportunities in Global Ballast Water Treatment Systems Market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of the Global Ballast Water Treatment Systems Market - level 4/5 segmentation.
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• Product mapping in excel for the key products of all major market players
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• Education & Research Institutes
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• Manufacturers
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