Ballast Water Management Market size to increase by USD 101.9 billion from 2022 to 2027, Growing marine logistics business boosts the market growth - Technavio

NEW YORK, Sept. 29, 2023 /PRNewswire/ -- The ballast water management market size is expected to grow by USD 101.9 billion between 2022 and 2027. However, the growth momentum of the market will be progressing at a CAGR of 31.86% during the forecast period. The market is segmented by end-user (container ships, bulk carriers, oil tankers, and general cargo), technology (physical disinfection, chemical method, and mechanical method), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The growing marine logistics business boosts the market growth. Maritime transport is essential in cross-border transport networks and the crucial pillar of globalization that enables international trade and supports supply chains. In addition, maritime transport facilitates industrial development by enabling manufacturing growth, bringing together consumers, and intermediate and capital goods industries, and promoting regional economic and trade integration. Moreover, developing countries such as Asia, Oceania, and Africa are some of the key countries that are significant contributors to the seaborne trade. Furthermore, there is an increasing adoption of big data analytics across the shipping industry for improved visibility into the market as well as pricing trends, thereby facilitating the shippers to select optimal routes, and fuel consumption patterns, gauge the weather conditions, and prevent piracy risks. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a FREE PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the ballast water management market: AB SKF, ALFA LAVAL, BioMicrobics Inc., Bio-Uv, Calgon Carbon Corp., Ecochlor Inc., Evoqua Water Technologies LLC, GEA Group AG, Headway Technology Group (Qingdao) Co. Ltd., Industrie De Nora Spa, JFE Holdings Inc., KURARAY Co. Ltd., Mitsubishi Heavy Industries Ltd., Optimarin AS, PANASIA Co. Ltd., Samsung Electronics Co. Ltd., TECHCROSS, Veolia Environnement SA, Wartsila Corp., and Xylem Inc.
• Ballast Water Management Market is fragmented in nature.
• Market to observe 30.67% YOY growth in 2023.

Trend

• Technological advances in marine management are a primary trend in the market driving marekt growth.

Challenges 

• Toxic by-products of ballast water management is a major challenge hindering the market growth.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report

Keg Segments:

The market share growth of the container ships segment will be significant during the forecast period. The technique by which a cargo ship carries all its load in truck-size intermodal containers is known as containerization. One of the main advantages of container ships is that they can be loaded and discharged much faster than general cargo ships which is fueling their adoption in large-scale industries. One of the main companies that offer container ships is Alfa Laval Corp AB. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

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FAQS

• How do the major trends impact the market?
• How big is the APAC market?
• How do the key drivers and challenges impact the market?

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Technology

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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SOURCE Technavio