Ballast Water Treatment Global Market Report 2023: Retrofitting of Existing Vessels Presents Opportunities

DUBLIN, May 4, 2023 /PRNewswire/ -- The "Ballast Water Treatment: Technologies and Global Markets" report has been added to ResearchAndMarkets.com's offering.

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.

The ballast water treatment technologies market is segmented by:

• Technology type: Electrochlorination, ultraviolet (UV), oxidation, ultrasound, disinfectant and others.
• Ballast water capacity: More than 5,000, 1,500-5,000 and less than 1,500.
• Vessel type: Bulk carriers, oil tankers, general cargo, container ships, and others.
• Installation: Portable and stationary.
• Region: North America, Europe, Asia-Pacific (APAC) and the Rest of the World (RoW).

Report Includes

• 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 Topics Covered:

Chapter 1 Introduction

Chapter 2 Executive Summary

Chapter 3 Market Overview

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

Chapter 6 Impact Analysis of Macroeconomic Factors

Chapter 7 Primary Responses

Chapter 8 Treatment Technologies Overview

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

Chapter 16 Overview of Merchant Vessels Fleet by Vessel Type

Chapter 17 Competitive Landscape

Chapter 18 Company Profiles

Chapter 19 Appendix: Abbreviations

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

For more information about this report visit https://www.researchandmarkets.com/r/5fly5d

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