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Ballast Water Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 120 Pages
  • January 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5318639

The Ballast Water Treatment Market is expected to grow at a CAGR of 32.7% over the forecast period 2020 to 2025. To reduce the marine ecosystem's pollution, the ballast water treatment system was developed with the aid of numerous technologies. Adopting the method mentioned above, the filtration and the disinfection of the ballast water are done.

Key Highlights

  • The principal factor driving the ballast water treatment system is the growing focus on preserving and protecting the marine ecosystem from the pollutants and other toxic species. As per the United Nations Environment Programme (UNEP), in 2018, the world invested around 200 million US dollars in ocean energy technologies, up from 100 million US dollars in 2006.
  • Another factor feeding the growth of the ballast water treatment system is the stringent laws issued by the USCG and IMO concerning the obligatory usage of the system. The rise in the trade of the chemicals and the other goods through the sea route encourages the growth of the market. For instance, according to the American Chemistry Council, in 2001, global chemical shipments were worth just under USD 1.7 trillion. In 2019, the total value stood at almost USD 4 trillion.
  • According to DNV GL, on January 1, 2020, the International Maritime Organization's latest sulfur cap evolved into force. Globally, ships will be permitted to utilize fuel types with a sulfur content of below 0.5%. Higher concentrations will be permitted only if scrubbers are installed. Certain regions, such as the EU and California, are subject to more rigorous standards.
  • The physical disinfection technology adopted for the treatment of ballast water has dominated the ballast water treatment market in terms of market size. Physical disinfection aids in eliminating or deactivating the microorganisms from the ballast water without adding any toxic substance to it. Physical disinfection also allows significant benefits such as smoothness of operation and raised the level of efficiency.
  • The principal determinants restraining the growth of the ballast water treatment market are the continuously unfolding government rules and measures and the massive expense of installation and maintenance. Additionally, growing concerns about the storage of by-products generated after ballast water treatment hinder the industry growth to some degree.

Key Market Trends

Tankers by Type to Drive the Market

  • The tankers segment is anticipated to observe a notable extension in the BWT market during the forecast period. It allows for easy installation and provides relatively more space. Japan, South Korea, and China account for primary tanker production.
  • Tankers are remarkably important in the shipping industry as they serve to transport large amounts of chemicals, petroleum, crude oil, and LNG, among others, across the oceans and seas. The continuously growing crude oil industry is a significant determinant commanding global trade.
  • According to UNCTAD, in 2019, less than a quarter of the world's bulk carriers were fitted with ballast water treatment systems. The penetration rate was slightly higher in oil tankers, with about 12% of these vessels treated their ballast water. In contrast to this, only 1% of passenger ships had systems in place for managing their ballast water.
  • According to SEA\LNG, as of 2019, the fleet size of vessels propelled by liquified natural gas (LNG) worldwide was expected to grow across all segments. That year, the tanker segment had 44 operational vessels, with an additional 53 in the order book, over time, boosting the growth of the market.
  • Vessel scrubbers are employed to remove nitrogen oxides (NOx), sulfur oxides (SOx), and other air pollutants from exhaust gases generated by engines. According to UNCTAD, in 2019, about 3.71% of container ships in the worldwide fleet were fitted with scrubbing systems.
  • The penetration rate of scrubbing systems is expected to increase following the global cap on sulfur emissions coming into force from January 1, 2020, which will consequently fuel the growth of the market.

APAC to Dominate the Market

  • APAC is anticipated to hold the largest size of the ballast water treatment market during the forecast period. The presence of a considerable number of ports and harbors for the trade of oil and chemicals, automotive components, electronic components, and devices, among others, contributes to the market growth in the APAC region.
  • The region further offers different types of vessels, such as containers, tankers, and other cargo ships. Since the IMO has made it compulsory to install BWT systems in the vessel, it is presumed to drive BWT systems' demand. Moreover, current trade volumes and stringent IMO regulations have encouraged the growth of this industry in APAC.
  • This region remains a key growth market for Ballast Water Treatment with an addition in ocean freight volumes from multiple countries such as China, India, and South Korea to other parts of the world. It is expected that growth in the ocean freight over the subsequent years, will result in the greater adoption of the Marine Environmental Protection program, which will encourage market growth.
  • An increasing number of container tankers & ships and substantial trade volume in the region further supplement the regional growth.

Competitive Landscape

The Ballast Water Treatment Market is moderately competitive and consists of several major players. In terms of market share, few of these players currently dominate the market. Strategic trade alliances between important companies in the ballast water treatment system market have risen in the last few years to strengthen the market for ballast water management technology and its widespread adoption. Market players are seen drawing major profits from the increasing agreements with clients for providing efficient ballast water treatment systems.

  • Jan 2020 - Xylem launched a new multi-disciplinary center for water, wastewater, and energy technologies at the company’s regional headquarters in Singapore. The XTHS represents Xylem’s continued investment in sustainable water technologies, and research at the new center will focus on developing breakthrough technologies in water distribution and water and wastewater treatment.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

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Table of Contents

1.1 Study Assumptions? and Market Definition?
1.2 Scope of the Study?
4.1 Market Overview
4.2 Marker Drivers
4.2.1 Growth in the Volume of Seaborne Trade
4.2.2 Government Actions Toward Marine Environmental Safety and Protection
4.3 Market Restraints
4.3.1 Storage of Disinfection By-products Generated Following Water Treatment
4.3.2 Costly Plan of Ballast Water Treatment Systems Coupled with Variations in IMO and USCG Regulations
4.4 Market Opportunities ?
4.4.1 Latest Laws to Boost the Demand for Ballast Water Treatment
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Industry Value Chain Analysis
4.7 Impact of COVID-19 on the Ballast Water Treatment Market
5.1 By Type
5.1.1 Dry Bulk Carriers
5.1.2 Container Ships
5.1.3 Tankers
5.1.4 General Cargos
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 Rest of the World
6.1 Company Profiles*
6.1.1 Wärtsilä Oyj Abp
6.1.2 Alfa Laval AB
6.1.3 Xylem Inc.
6.1.4 Evoqua Water Technologies LLC
6.1.5 Calgon Carbon Corporation
6.1.6 Mitsubishi Heavy Industries Ltd.
6.1.7 Veolia Environnement S.A.
6.1.8 atg UV Technology Ltd
6.1.9 Headway Technology Co., Ltd.
6.1.10 Trojan Marinex Inc.
6.1.11 Ecochlor, Inc.
6.1.12 JFE Engineering Corporation
6.1.13 Optimarin AS
6.1.14 Marenco Technology Group Inc.
6.1.15 Hyde Marine, Inc.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Wärtsilä Oyj Abp
  • Alfa Laval AB
  • Xylem Inc.
  • Evoqua Water Technologies LLC
  • Calgon Carbon Corporation
  • Mitsubishi Heavy Industries Ltd.
  • Veolia Environnement S.A.
  • atg UV Technology Ltd
  • Headway Technology Co., Ltd.
  • Trojan Marinex Inc.
  • Ecochlor, Inc.
  • JFE Engineering Corporation
  • Optimarin AS
  • Marenco Technology Group Inc.
  • Hyde Marine, Inc.