Global Ballast Water Treatment Market to Reach $541.9 Billion by 2030. In the changed post COVID-19 business landscape, the global market for Ballast Water Treatment estimated at US$62.4 Billion in the year 2022, is projected to reach a revised size of US$541.9 Billion by 2030, growing at a CAGR of 31% over the analysis period 2022-2030, reports Yahoo.
The U.S. Market is Estimated at $17 Billion, While China is Forecast to Grow at 41.7% CAGR
Reportlinker.com announces the release of the report “Global Ballast Water Treatment Industry” Physical Disinfection, one of the segments analyzed in the report, is projected to record a 32.7% CAGR and reach US$254.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Mechanical Method segment is readjusted to a revised 30.5% CAGR for the next 8-year period.
The Ballast Water Treatment market in the U.S. is estimated at US$17 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$170.6 Billion by the year 2030 trailing a CAGR of 41.7% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 23.7% and 26.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 25% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$85.3 Billion by the year 2030.
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