Ballast Water Treatment Systems (BWTS) Market Expecting Huge Growth Opportunity US$ 3.8 Bn By 2027 | TMR

According to Transparency Market Research's latest market report on the global ballast water treatment systems market for the period 2019-2027 (wherein 2019 to 2027 is the forecasted period and 2018 is the base year), increasing international trade through seaways coupled with increasing adoption of standardized regulations that are globally accepted are some of the prime reasons for the growth of the ballast water treatment systems market.

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Increasing International Trade through Seaways: A Key Driver of Ballast Water Treatment Systems Market

Increasing international trade through seaways is one of the prime reasons for the growth of the ballast water treatment systems market. Marine transport is crucial for the world's economic growth as around 90% of global trade is carried out through the sea route. This transportation system is more cost-effective and convenient compared to others for the movement of mass goods and raw materials around the world. During the past few decades, marine trade is estimated to have quadrupled, owing to increasing industrialization and liberalization of several emerging countries, which have surged free trade and led to growing demand for consumer products. Demand for container vessels are anticipated to grow with rising demand for more goods. These factors are anticipated to create a favorable environment for the ballast water treatment systems market during the forecast period.

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Adoption of IMO Guidelines for Control and Management of Ballast Water of Ships to Drive Market

Implementation of standardized regulations- International Maritime Organization (IMO) guidelines worldwide is a key factor that is expected to augment the growth of the ballast water treatment systems market. Different countries have their own set of regulations to deal with issues pertaining to the prevention and elimination of invasive alien species in the marine environment. It is difficult for foreign manufacturers of ballast water treatment systems to trade with other countries as their product portfolios are in line with their own sets of standards and regulations. Hence, the United Nations is trying to implement standardized regulations (IMO) guidelines worldwide. This is further anticipated to proliferate the ballast water treatment systems market during the forecast period.

Preference for Mechanical and Chemical Treatment: A Key Restraining Factor

Preference for mechanical and chemical treatments is one of the key factors restraining the growth of the ballast water treatment systems market. High cost of physical treatment systems and complexity in operation of these systems lead to the use of older mechanical filters and chemical treatments, which can create further complications such as an increase in toxicity of water and high maintenance cost. All these factors restrain the growth of the ballast water treatment systems market.

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Multiple Regulations: Another Key Restraining Factor of Global Market

Another major factor restraining the growth of the ballast water treatment systems market is the implementation of the BWM Convention in all countries due to different legislative requirements in different countries. Several regional regulations are not in line with the BWM Convention. For instance, the U.S. Coast Guard (USCG) has separate regulations for ballast water treatment. Under such circumstances, it becomes difficult for ships from other countries to operate in U.S. waters. This restrains the growth of the ballast water treatment systems market.
Increasing Trade Activities in Developing Economies of Asia Pacific and Africa: A Growth Opportunity for Global Market

Increasing population, and growing industrialization and urbanization across several emerging countries are encouraging international trading activities. Favorable government policies and trade agreements are major supportive factors boosting trade. Demand for container vessels, small and medium sized cargo ships etc., are anticipated to increase during the forecast period with trade. This is further anticipated to fuel the demand for ballast water treatment systems.
High Focus on Physical Treatments: A Key Trend

Several technologies are available in the ballast water treatment systems market. However, some of them are favored more, owing to their improved features such as operational cost, treatment efficiency, and ease of installation. The physical treatment system has shown significant growth in demand in the global market in recent years, due to its features such as environment-friendliness, cost-effectiveness, and effectiveness in treating invasive organisms.

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Ballast Water Treatment Systems Market: Competition Landscape

Detailed profiles of manufacturers in the ballast water treatment systems market have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
Key players operating in the global ballast water treatment systems market include

Wärtsilä Corporation,
Damen Shipyards Group,
ALFA LAVAL,
atg Evoqua (Evoqua Water Technologies),
GenSys GmbH, Evac,
Coldharbour Marine Ltd.,
Ecochlor,
GEA Group Aktiengesellschaft,
ERMA FIRST ESK Engineering S.A.,
Ferrate Treatment Technologies, LLC,
Veolia Water Technologies,
Hitachi, Auramarine Ltd., and
Bawat a/s.

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