Ballast Water Treatment Market Worth $118 Billion by 2022 – Rise in Volumes of Seaborne Trade Drives Growth – Research and Markets
Research and Markets has announced the addition of the “Ballast Water Treatment Market – Global Forecast to 2022” report to their offering.
The ballast water treatment (BWT) market is expected to grow at a CAGR of 37.19% between 2017 and 2022, to reach USD 118.77 billion by 2022 from USD 14.29 billion in 2016.
As the healthcare concern is growing in the shipping industry, it is driving the BWT market to control the waterborne diseases that occur on the ship during the expedition. Also, the discharge of ballast water by ships contributes to the spread of aquatic invasive species, with negative impacts on the environment, economies, and public health. The IMO standards for ballast water discharge require BWT systems based on various physical and/or chemical methods to be installed on the ships. The major restraint for the growth of the BWT market is the storage of disinfection by-products generated after water treatment.
The initiatives taken by the governments in Europe for the human health and economic values are accelerating the growth of the said market in Europe. For instance, the IMO Marine Environment Protection Committee (MEPC) has introduced guidelines that will assist governments and other authorities, ship masters, operators and owners, and port authorities in minimizing the risk of introducing harmful aquatic organisms and pathogens from ship’s ballast water and associated sediments.
Companies Mentioned
- ATG UV Technology Ltd
- Alfa Laval AB
- Calgon Carbon Corporation
- Ecochlor, Inc.
- Evoqua Water Technologies LLC
- JFE Engineering Corporation
- Mitsubishi Heavy Industries, Ltd.
- Optimarin AS
- Qingdao Headway Technology Co., Ltd.
- Trojan Marinex
- Veolia Environnement S.A.
- Wärtsilä Corporation
- Xylem Inc.
Key Topics Covered:
- Introduction
- Research Methodology
- Executive Summary
- Premium Insights
- Market Overview
- Industry Trends
- Ballast Water Treatment Market, By Technology
- Market, By Capacity
- Ballast Water Treatment Market, By Ship Type
- BWT Market, By Service
- BWT Market, By Geography
- Competitive Landscape
- Company Profile
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Source: Business Wire
