Global Ballast Water Treatment System Market - Industry Share & Forecasts 2023-2031

The global ballast water treatment system market accounted for USD 47.62 Billion in 2020 and is expected to reach USD 548.44 Billion by 2028, growing at a CAGR of 35.98% from 2021 to 2028.

The Ballast Water Treatment System (BWTS) is a system for removing and destroying biological organisms (zooplankton, algae, and bacteria) from ballast water. The type of ballast water treatment system will be determined by its size, available space, budget, and other factors. The need to reduce ship instability and anomalous movement as the amount of seaborne trade grows, as well as a growing focus on protecting the marine ecology from pollution, is driving the ballast water treatment industry forward. Strategic trade partnerships between major players and undertaking new product launches are flourishing in the ballast water treatment system market.

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COVID-19 Impact Analysis

The COVID-19 Pandemic disrupted the logistics and supply chain segments severely. Trade via marine routes was also restricted as there were restrictions for travel and transportation across controls to curb the spread of the virus. These factors hampered the demand for ballast water treatment systems.

Factory closures and a lack of workers also contributed to a drop in overall revenue in the ballast water treatment market. Due to the temporary closure of operations, the COVID-19 pandemic affected the regular dry-dock work and ballast treatment retrofits.

Growth Factors

Due to the inadvertent transmission of harmful pathogens and marine organisms, allowed ocean dumping, and oil and chemical accidents, ballast water treatment has become a requirement for efficient maritime operations. The worldwide ballast water treatment market is expected to be driven by government authorities' increased attention on protecting the maritime environment by regulating ballast water discharge.

The worldwide ballast water treatment industry is predicted to grow as the volume of seaborne trade increases. The worldwide ballast water treatment market is also being driven by the growing trade volume of the worldwide maritime sector and expanding government efforts in accordance with IMO regulations.

Industry players use strategic acquisitions and collaborations as a significant strategy

Mitsubishi Heavy Industries, Wartsila Corp., Xylem Inc., Calgon carbon Corp., Evoqua Water Technologies LLC, Marenco Technology Grp Inc., NEI Treatment Systems, Hyde Marine Inc., Trojan Marinex and MH Systems Inc. among others.

This market research study on Ballast Water Treatment System covers the industry in full, with revenue estimates and forecasts in USD for the following segments from 2023 to 2030:

Market, By Type

● Physical Disinfection
● Mechanical Method
● Chemical Method

Market, By Application

● New Build Ship
● Modify Ship

Regional Analysis Preview

The European region held a share of over 25% in 2020. This is attributable to the fact that there is a presence of the large number of oil exporters in this region. Furthermore, majority of the European trade takes place via the marine routes. These factors, have propelled the growth of the ballast water treatment system market in this region

The Asia Pacific region is projected to grow at a CAGR of over 35% over the forecast period. During the forecast period, APAC is expected to have the highest share of the ballast water treatment system market. The APAC region's market expansion is aided by the existence of a large number of ports and harbors for the commerce of oil and chemicals, automotive components, electronic components, and devices, among other products.

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Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database.

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