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NEW YORK, March 06, 2018 -- The global ballast water treatment market is expected to grow at a significant rate during the forecast period. The primary factor driving the market growth is the growing demand for ballast water treatment and management. Additionally, the international regulations such as IMO and USCG are also driving the growth of the ballast water treatment market. Moreover, the other factors influencing the market growth include increase in use of large vessels for ship borne trade and initiatives to reduce ecological and economic damage to the marine ecosystem.
Ballast water treatment is a process of removing or killing the germs before discharging it to the marine environment. Large vessels or ships require tons of ballast water to maintain stability and maneuverability; this in turn, causes ecological and economic damage to the marine ecosystem and creates a negative impact on the aquatic environment. Furthermore, the ballast water treatment is an important factor to protect the marine environment. The increasing trend for ballast water treatment in developing countries coupled with the growing health concerns are further expected to drive the market growth.
The safe and effective ballast water treatment and management is regulated by the implementation of the International Maritime Organization (IMO), United States Coast Guard (USCG), Ballast Water Management Convention (BWM), and the United States Environmental Protection Agency regulations (USEPA). These conventions aids in preventing the effect of harmful aquatic organisms and pathogens present in the ballast water. IMO regulates ballast water discharge from the ships and controls the transfer of invasive species by adopting the international convention for the control and management of ship’s ballast water and sediments, under BWM Convention in February 2004.
On the basis of geography, Asia-Pacific is expected to hold the major share in the ballast water treatment market over the forecast period. The major factors fuelling the market in the region include growing trade of chemicals and increasing IMO adoption considering environmental concerns.
The container ships segment held the largest share in the ballast water treatment market, in 2017. Dominance of this segment is owed to increasing trade in the Asia-Pacific region. Additionally, the Asia-Pacific countries such as China, Japan, and India which have become world’s manufacturing powerhouses resulting in substantial increase in number of container ships handled at the ports. Tankers are anticipated to be the fastest growing segment, during the forecast period. The physical disinfection treatment method is expected to hold the dominant share during the forecast period attributed to its effectiveness against the broad range of organisms. Additionally, the physical disinfection is advantageous over other treatment methods as it provides ease of operation along with high efficiency.
The key players in the global ballast water treatment are Xylem Inc, Wartsila Corporation, Evoqua Water Technologies LLC, Alfa Laval AB, Trojan Marinex, Mitsubishi Heavy Industries Ltd, UV technology and Ecochlor, Veolia Environment S.A., JFE Engineering Corporation, and Optimarin AS among others.
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