NEW YORK, July 6, 2021 /PRNewswire/ -- The ballast water management market is poised to grow by USD 3.21 billion during 2021-2025, progressing at a CAGR of over 5% during the forecast period.
NEW YORK, July 6, 2021 /PRNewswire/ -- The ballast water management market is poised to grow by USD 3.21 billion during 2021-2025, progressing at a CAGR of over 5% during the forecast period.
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The market is driven by the growing marine logistics business. In addition, stringent government regulations are anticipated to boost the growth of the ballast water management market.
Factors such as industrial developments, increasing cross-border trades, and globalization have fostered the growth of the marine transport industry over the years. For instance, the amount of crude oil, petroleum products, and gas loaded globally increased by 13.49% in 2017 as compared to 2010. Also, the dry cargo trade registered a growth rate of 29.07% during the same period. Such developments have been crucial in driving the growth of the marine logistics industry. This is increasing the use of ballast water, thereby creating demand for ballast water management.
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Major Five Ballast Water Management Companies:
Alfa Laval AB
The company offers a ballast water management system namely PureBallast 3.
Ecochlor Inc.
The company offers a ballast water management system namely Ecochlor.
Evoqua Water Technologies LLC
The company offers ballast water management systems namely CENTRA-RDS System, Odor Reduction Corrosion Abatement (ORCA), and Aqua-Scrub Carbon Adsobers.
GEA Group Aktiengesellschaft
The company offers a ballast water management system namely GEA BallastMaster marineX.
Headway Technology Group (Qingdao) Co. Ltd.
The company offers a ballast water management system namely OceanGuard BWMS.
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Ballast Water Management Market Technology Outlook (Revenue, USD Billion, 2020-2025)
Ballast Water Management Market Geography Outlook (Revenue, USD Billion, 2020-2025)
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