Global Ballast Water Treatment Systems Market Overview:
Ballast Water Treatment System (BWTS) is a system designed to remove and destroy or inactive biological organisms such as zooplankton, algae and bacteria from ballast water. A numerous technologies are available for treating ballast water on ships. The rising focus on conserving the marine ecosystem from the impurities and other harmful species is the major factor boosting the global ballast water treatment system market. However, the limitations such as availability of space, cost of implementation, and level of environmental friendliness play a vital role in usage of a particular type of ballast water treatment system.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Developing Healthcare Concern in the Shipping Industry
Market Growth Drivers:
Rising Focus on Conserving the Marine Ecosystem from the Impurities and Other Harmful Species and Stringent Regulations That Are Issued By the Marine Organizations Regarding the Mandatory Use of the System
Challenges:
Continuously Changing Government Rules and Regulations
Restraints:
Cost of Implementation is High
Opportunities:
The Upsurge in the Trade of the Chemicals and the Other Goods via the Sea Route
Competitive Landscape:
Ballast Water Treatment Systems is a fragmented market due to the presence of a large number of established competitors. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Hitachi, Ltd. (Japan), Mitsubishi Heavy Industries, Ltd. (Japan), Alfa Laval (Sweden), Hyde Marine Inc. (United States), MH Systems Inc. (United States), NEI Treatment Systems (United States), Optimarin AS (Norway), Mitsui Engineering & Shipbuilding Co. (Japan), Ecochlor Inc. (United States) and TeamTec AS (Norway). Additionally, following companies can also be profiled that are part of our coverage like Miura (Japan) and Goltens (United Arab Emirates). Analyst at AMA Research see United States and Japanese Manufacturers to retain maximum share of Global Ballast Water Treatment Systems market by 2028. Considering Market by Vessel, the sub-segment i.e. Low Ballast Dependent Vessels will boost the Ballast Water Treatment Systems market. Considering Market by Capacity, the sub-segment i.e. Greater Than 5000 Cubic Meters will boost the Ballast Water Treatment Systems market. Considering Market by Technology, the sub-segment i.e. Chemical Disinfection and Dechlorination will boost the Ballast Water Treatment Systems market. Considering Market by Ship, the sub-segment i.e. Container Ships will boost the Ballast Water Treatment Systems market.
Latest Market Insights:
In March 2023, global investment firm KKR acquired Hitachi Transport Systems (HTS). KKR holds shares in HTS through HTSK and HTSK Holdings, a special-purpose entity. KKR owns the remaining shares with voting rights.
On February 26, 2019, Ecochlor announced, the opening of a new factory in North Haven, Connecticut, USA for production of the chlorine dioxide generator for its ballast water management system (BWMS)
Under the Convention, all ships in international traffic are required to manage their ballast water and sediments to a certain standard, according to a ship-specific ballast water management plan. All ships have to carry a ballast water record book and an international ballast water management certificate. The ballast water management standards are being phased in over a period of time. New ships must meet the ballast water treatment standard. Existing ships should exchange ballast water mid-ocean but they will need to meet the ballast water treatment standard by the date of a specified renewal survey. Eventually, most ships will need to install an on-board ballast water treatment system
What Can be Explored with the Ballast Water Treatment Systems Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Ballast Water Treatment Systems Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Ballast Water Treatment Systems
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Ballast Water Treatment Systems market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Ballast Water Treatment Systems market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Ballast Water Treatment Service Providers, Manufacturing Companies, Research Organizations, Ballast Water Treatment-Related Associations, Organizations and Forums, Government Bodies and Private Equity Firms and Start-Up Companies.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.