Dublin, May 04, 2023 (GLOBE NEWSWIRE) -- The "Ballast Water Treatment: Technologies and Global Markets" report has been added to ResearchAndMarkets.com's offering.
Approximately 80% of the global trade volume is transported by ship. In many cases, half of a given voyage must be undertaken in ballast conditions to compensate for the absence of cargo. Many types of vessels carry ballast water. The origin of the word "ballast" is derived from an early Dutch word meaning "useless load."
Nearly 5 billion tons of ballast water is globally transported through shipping vessels each year. According to the research paper titled "Diagnostics in Ballast Water Management" published in EDP Sciences, the amount of transported ballast water in a cargo ship ranges from 1,500 cubic meters to more than 5,000 cubic meters, depending on the cargo ship size.
The transfer of aquatic nuisance species in ballast water is a problem that affects global shipping and the environment. The International Maritime Organization (IMO), federal agencies, including the Environmental Protection Agency (EPA) and the U.S. Coast Guard (USCG), along with local authorities, have established or will soon implement standards that limit the presence of problematic organisms that can be discharged along with ballast water.
Marine Environment Protection Committee (MEPC) by IMO was first discussed in 1991, and according to data published by the United Nations Conference on Trade and Development (UNCTAD), as of June 2021, 18,925 ballast water treatment systems were installed on ocean-going vessels.
The required number of states have ratified the IMO treaty, leaving less than 1% of global tonnage from various states to ratify the treaty for it to become international law. Market projections show that the industry will witness intensive growth in installations of ballast water treatment systems in order for the shipping industry to achieve the deadline of September 8, 2024, for compliance with the ballast water management convention.
In 2022, UNCTAD listed 102,899 global ships. IMO currently has 175 member states with three associate members. The North American market, led by the U.S., is forecast to make the earliest treatment system purchases, as EPA and USGC standards will come into force before those of the IMO.
USCG rules will largely mirror those developed by the IMO so that U.S. and international ballast water requirements will already be harmonized once the IMO convention comes into force. Marketwise, this will have a small effect, as U.S.-flagged ships make up a small part of the global fleet. This will, however, have a significant impact on foreign vessels entering U.S. waters.
For market predictions in relation to ship types and technology, the overall growth or decline in shipbuilding and the current fleet makeup will play a role, as larger ships requiring more ballast will require more expensive systems and will operate better using different technology, mainly electrochlorination versus ultraviolet (UV) light. This will further impact those companies that offer competitive systems within these realms.
The ballast water treatment market also consists of equipment to retrofit existing vessels and equipment for new-build ships. These distinct market segments have some differences, but they do share certain purchasing decision factors. Capital equipment expense is the most critical element for new-builds, whereas the total cost of ownership is the most important factor for retrofits.
Companies Mentioned
- Alfa Laval
- Bio-Uv
- Bio-Microbics Inc.
- Ecochlor Inc.
- Evoqua Water Technologies Corp.
- Industrie De Nora S.P.A.
- Jfe Engineering Corp.
- Kuraray Co. Ltd.
- Mitsubishi Kakoki Kaisha Ltd.
- Miura Co.
- Nk Company Ltd.
- Optimarin As
- Panasia Co. Ltd.
- Techcross Ltd.
- Wartsila
Report Includes
- 33 data tables and 43 additional tables
- A comprehensive overview and up-to-date analysis of the of the global ballast water treatment equipment industry
- Analyses of the global market trends, with market revenue (sales figures) for 2021, estimates for 2022, forecasts for 2023, and projections of compound annual growth rates (CAGRs) through 2027
- Estimation of the actual market size and revenue forecast for the global ballast water treatment technologies market in USD million values, and its corresponding market share analysis based on the technology type, ship ballast water capacity, vessel type, installation, and region
- In-depth information (facts and figures) concerning the major factors influencing the progress of this market (benefits, and industry-specific challenges) with respect to specific growth trends, upcoming technologies, prospects, and contributions to the overall market
- Holistic review of the impact of the COVID-19 pandemic and the Russia-Ukraine war on the ballast water treatment equipment industry
- Analysis of patents covering global patent activity to show technology trends and to identify companies with the largest intellectual property portfolios
- Deep dive of the number of patents and patent share analysis by technology, assignee or inventor, and country
- Insight into the recent industry structure for ballast water treatment technologies market, competitive aspects of each product segments, increasing investment on R&D activities, market growth strategies, and company revenue share analysis
- Updated information on competitive developments, such as joint ventures, mergers and acquisitions, new product development, expansions, and research and development (R&D) activities in the global market for ballast water treatment technologies
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 162 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $79.9 Billion |
| Forecasted Market Value (USD) by 2027 | $385.8 Billion |
| Compound Annual Growth Rate | 37.0% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Executive Summary
Chapter 3 Market Overview
3.1 Market Definition
3.2 Ballast Water Needs, Vessel Types and Typical Pumping Rates
3.3 Unwanted Species Found in Ballast Water
3.4 Adverse Impacts Caused by Aquatic Nuisance Species
3.4.1 Environmental Effects
3.4.2 Economic Effects
3.4.3 Public Health Effects
Chapter 4 Market Dynamics
4.1 Market Drivers
4.1.1 Impact of Regulations on Industry
4.1.2 Vessel Age and Replacement
4.1.3 Increase in Maritime Trade
4.1.4 Technological Advancements
4.2 Market Restraints
4.2.1 High Cost of Bwms
4.2.2 Limited Infrastructure
4.3 Market Opportunities
4.3.1 Retrofitting of Existing Vessels
4.3.2 Market Expansion
4.4 Market Challenges
4.4.1 Ballast-Free Ships
4.4.2 Cyber Security Issues in Ballast Water Treatment Systems
4.5 Megatrends
Chapter 5 Regulatory Framework
5.1 Imo Convention Standards
5.1.1 Recognized Organizations for Ballast Water Management
5.2 Epa Regulations
5.3 U.S. Coast Guard
5.4 Implementation Schedule
5.4.1 U.S. Coast Guard-Approved Systems
5.4.2 Regional Regulations
5.4.3 Ratifying States
5.4.4 Approval Process for Ballast Water Treatment Systems
5.5 Selecting a Ballast Water Treatment System
Chapter 6 Impact Analysis of Macroeconomic Factors
6.1 Impact of the Covid-19 Pandemic
6.2 Impact of the Russia-Ukraine War
Chapter 7 Primary Responses
7.1 Uri Keshet Lan, Ecochlor
7.2 Giles Candy, Giles Environment LLC
7.3 Espen Torp, Aker Solutions
7.4 Mathachan Jose (Matt), Aries Marine and Engineering Services
Chapter 9 Cost Overview
Chapter 10 Global Ballast Water Treatment Systems Market by Technology Type
Chapter 11 Global Ballast Water Treatment Systems Market by Ballast Water Capacity
Chapter 12 Global Ballast Water Treatment Systems Market by Ship Type
Chapter 13 Global Ballast Water Treatment Systems Market by Installation
Chapter 14 Global Ballast Water Treatment Systems Market by Region
Chapter 15 Patent Analysis
15.1 Patent Review
15.1.1 Patent Review, by Year
15.1.2 Patent Review, by Applicant
15.1.3 Patent Review, by Country
Chapter 16 Overview of Merchant Vessels Fleet by Vessel Type
16.1 Global Merchant Fleet
16.1.1 General Cargo Ships
16.1.2 Tankers
16.1.3 Bulk Carriers
16.1.4 Passenger Ships
16.1.5 Container Ships
Chapter 17 Competitive Landscape
17.1 Product Approval Status by Imo
17.2 Recent Developments
Chapter 18 Company Profiles
Chapter 19 Appendix: Abbreviations
For more information about this report visit https://www.researchandmarkets.com/r/ftfcqo
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