Ballast Water Treatment Systems (BWTS) Market - Trends Forecast Till 2028

Market Overview

The global Ballast Water Treatment Systems (BWTS) market size is projected to reach USD 100 billion by 2026 at a CAGR of 27% from USD 27 billion in 2021 during the forecast period 2021-2028.

Ballast water treatment aims to eliminate invasive marine animals. According to the USDA, ballast water is "one of the principal routes for the introduction of non-indigenous marine organisms."
When ships discharge ballast water at a new port of call, they risk introducing alien species ranging from tiny fish to bacteria into the surrounding water. This can have a number of negative consequences; the European Maritime Safety Agency attributes invasive marine species to microbial exposure, decreased habitat quality, and other hazards that might eventually impair fishing and even protected species in the region. The United States Coast Guard (USCG) and the International Maritime Organization (IMO and USCG) require all ships to "undertake comprehensive actions in order to prevent, reduce, and, if possible, eliminate the transfer of harmful aquatic organisms and pathogens through the control and management of ships' ballast water and sediments" to avoid these negative effects. This includes meeting the requirements of either Ballast Water Management D-1, which requires any ship performing ballast water exchange to do so with a 95% efficiency of ballast water, or Ballast Water Management D-2, which establishes a maximum concentration of microorganisms in discharged ballast water.

Also Check Report on Marine and Marine Management Software Market

With the surge in demand for fuel transported through sea route along with the recent regulations of IMO are some of the factors that have supported long-term expansion for Ballast Water Treatment Systems (BWTS) Market.

The COVID-19 pandemic is causing widespread concern and economic hardship for consumers, businesses, and communities across the globe. The market for BWTS witnessed a negative growth during the pandemic phase due to the poor supply chain and halts on transportation.

Regional Analysis

Asia Pacific is expected to be the largest market of commercial refrigeration equipment during the forecast period. The increasing population in the region, improving economic conditions, such as rising GDP & disposable incomes, and a booming consumer appliances sector have led to growth in the commercial refrigeration equipment in the region.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

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

Recent Developments

• In December 2017, HALCOR METAL WORKS S.A entered into a merger agreement with ELVAL HELLENIC ALUMINIUM INDUSTRY S.A., in order to combine their companies into one operating entity, under the name ELVALHALCOR. The merger's purpose is to synergize and strengthen both their growth prospects in the aluminium market of Europe. This development will enhance the line set market share of Halvor in the European region.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Ballast Water Treatment Systems (BWTS) market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope