The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth. The report offers actionable and valuable market insights of Ballast Water Treatment Systems (BWTS). The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Ballast Water Treatment Systems (BWTS) Market across various industries and regions.
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BWTS Market: Competitive Landscape
Players in the global ballast water treatment systems market are investing in research & development activities to come up with innovative additions to these systems. Also, mergers and acquisitions are a key focus of market players to gain an edge over the competition. Apart from this, companies are looking at partnerships and collaborations as a way to stay ahead of the competition.
However, technological advancements along with expansion strategies are expected to remain key strategies of players in the BWTS market over the forecast period.
- For instance, The Hyde GUARDIAN-US BTWS has tested its new system as per IMO norms in the U.S. The new system has unique features such as automatic flow regulation, which ensures that the system is capable of managing changing water quality in order to achieve compliance.
- Also, Hyde Marine has come up with an alarm that signals if the system is operating outside test boundaries. This helps the crew to initiate contingency measures for non-compliant waters, so that deballasting and cargo loading is not impacted.
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Regional Outlook of Ballast Water Treatment Systems Market
North America is expected to lead the global ballast water systems market share. Owing to its vast marine trade activities, the region is projected to witness high growth over the coming years. Europe also has a lucrative market for ballast water treatment systems.
The BWTS market in Asia Pacific is projected to witness significant growth during the forecast period (2020-2030). With rise in international trade in the region, led by countries such as India and China, the region is anticipated to be the most lucrative ballast water treatment systems market over the next decade.
Key Takeaways from Ballast Water Treatment Systems Market Report
- The global market for ballast water treatment systems is expected to reach a market evaluation of nearly US$ 9 Bn by the end of 2030.
- Chemical treatment systems lead the market; however, physical treatment systems are expected to grow significantly over the next decade.
- North America and Europe dominate the BWTS market currently. Asia Pacific is projected to be the most lucrative BWTS market during the forecast period.
- Ballast water treatment systems with tank a capacity of 1500 – 5000 m3 are expected to dominate demand in the near future.
- Demand for ecofriendly water treatment systems is driving the market, and is anticipated to fuel growth in the near future too.
- The COVID-19 pandemic crisis has hit international trade and transport, which has led to decreased demand for ballast water treatment systems.
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Ballast Water Treatment Systems Market: Competitive Landscape
Players in the global ballast water treatment systems market are looking at mergers, acquisitions, partnerships, and collaborations as a key focus to gain an edge over the competition. Technological advancements along with expansion strategies are expected to remain key strategies over the forecast period.
Danish company, Bawat, has launched a new low-cost and ‘green’ ballast water treatment technology. It is powered by waste heat from the ship’s engine. This system requires no filters, chemicals, or UV lamps. The Bawat system operates at temperatures ranging from 64°C to 72°C, killing marine organisms in a one in-voyage process in less time, which promises to minimize the risk of delay or disruptions during cargo handling operations.
Some of the key players operating in the global ballast water treatment systems market are 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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More Valuable Insights on Ballast Water Treatment Systems (BWTS) Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Ballast Water Treatment Systems (BWTS), Sales and Demand of Ballast Water Treatment Systems (BWTS), analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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