Stationary Systems to Command Nearly 3/4th of the Ballast Water Treatment Systems Market Share by 2030
Fact.MR, in a recent market survey on the global ballast water treatment systems market, highlights crucial factors such as drivers, trends, opportunities, threats, and restraints. The study divulges compelling insights into segments such as treatment, tank capacity, and application across seven regions, offering a comprehensive analysis to the readers.
NEW YORK, Dec. 2, 2021 /PRNewswire/ -- The global ballast water treatment systems (BWTS) market is poised to expand at an impressive 10% CAGR between 2020-2030, projects Fact.MR in a recent market survey. Growing emphasis on the protection of marine life and elimination of invasive marine species is expected to drive growth in the market.
Marine transport is a cost-effective and way of transport for raw materials and various goods. As per the data availed by Eurostat, the total gross weight of transported goods as a part of EU short sea shipping topped 1.8 Bn tones in 2019. Growing maritime trade worldwide is expected to be a chief driver in the BWTS market.
The International Maritime Organization (IMO) has set stringent guidelines to protect the marine life from extensive maritime activities. For instance, the amendments to MARPOL Annex issued in January 2021 state the discharge requirements for cargo residues and cargo washing that contain floating products with high viscosity, following concerns regarding the environmental impact of such discharges.
This is expected to widen the scope for product development and innovation for players in the market. Further, significant investments in the marine trade sector in Asia Pacific (APAC) and Africa, supported by industrialization and urbanization are anticipated to boost the market.
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Favourable government policies and investments in these countries are propelling sales of cargo vessels, ships, and marine equipment. This trend is being witnessed in Italy, Germany, China, and India and is expected to give tailwinds to BWTS sales.
"Growing demand for physical treatment in the APAC maritime trade sector is expected to boost the market. Besides this, regulations mandating the compulsory installation of BWTS in new cargo vessels and ships will continue driving sales in the forthcoming years," says a Fact.MR analyst.
Based on treatment, the physical treatment valuation is expected to top US$ 4 Bn by 2030.
In terms of tank capacity, demand for between 1500-5000 m3 systems will remain high.
Applications of stationary systems are expected to account for nearly 3/4th of the total market share.
Leading players operating in the global ballast water treatment systems market are investing in research and development to improve their product portfolios. Besides this, players are aiming to gain a competitive edge through mergers, acquisitions, collaborations, and partnerships, further strengthening their global presence.
For instance, in March 2021, Netherland-based Damen Shipyards Group gained financial support for a project lease for its portable ballast water treatment system InvaSave for customers in Africa, Latin America, and Asia.
Key Players in the Ballast Water Treatment Systems Market Include:
Damen Shipyards Group
atg Evoqua (Evoqua Water Technologies)
Coldharbour Marine Ltd
GEA Group Aktiengesellschaft
ERMA FIRST ESK Engineering S.
Ferrate Treatment Technologies, LLP
More Valuable Insights on Ballast Water Treatment Systems Market
Fact.MR provides an unbiased analysis of the ballast water treatment market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the global ballast water treatment systems with a detailed segmentation on the basis of:
Less than 1500 m3
1500 to 5000 m3
Greater than 5000 m3
Key Questions Covered in Ballast Water Treatment Systems Market Report
The report offers insight into the ballast water treatment systems market demand outlook for 2020-2030.
The market study also highlights projected sales growth for ballast water treatment systems market between 2020 and 2030.
Ballast water treatment systems market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
Ballast water treatment systems market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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