Ballast Water Treatment System Market

The global Ballast Water Treatment System Market is valued at USD 5.56 Billion in 2022 and is projected to reach a value of USD 12.2 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 10.4% between 2023 and 2030.

Premium Insights

The United Nations Conference on Trade and Development (UNCTAD), in its analysis of the Maritime Transport 2022 study, emphasized the noteworthy advancements made in the application of the Ballast Water Management (BWM) Convention, 2004. The Marine Environmental Protection Committee (MEPC) has been systematically evaluating the convention as part of its experience-building phase (EBP) since 2017. The MEPC decided in principle to create a BWM Convention Review Plan in June 2022 following a data analysis report on the EBP. The BWM Convention had 91 contracting states as of July 15, 2022, which accounted for 92% of the gross tonnage of the world's merchant fleet. The market for treatment solutions for ballast water is experiencing a surge in demand due to a compliance deadline set by International Maritime Organization (IMO) in 2024. The United States Coast Guard (USCG) and the IMO have strict laws requiring the installation of ballast water tanks, and the necessity for enhanced oxidation processes to counter illegal ocean dumping is further pushing market income.

Additionally, the industry is observing developments in disinfection technologies that maximize resource utilization and improve vessel operability, creating new opportunities for the ballast water treatment industry. China became the world leader for new shipbuilding orders in the first half of 2022, gaining a sizeable market share of 50.8%. According to the Ministry of Industry and Information Technology (MIT), the nation's shipbuilding industry successfully completed orders totaling 18.5 million deadweight tonnes (DWT) during this time. This demonstrates China's expanding power in the shipbuilding industry. The COVID-19 outbreak significantly reduced trade volumes and revenue in the Ballast Water Treatment Systems due to travel restrictions and industrial closures. According to ShipInsight, retrofits for ballast treatment and drydock work were disrupted. However, in May 2020, BIO-SCAN unveiled a UV-C virus scanner that could find and eliminate microbes from surfaces, including SARS-CoV-2. The healthcare industry and public transit networks have great potential for this technology, which is comparable to that utilized in ballast water treatment.

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• Asia Pacific generated more than 48.5% of revenue share in 2022,
• North America is expected to expand at the fastest CAGR from 2023 to 2030,
• Based on Technology, the Physical Disinfectant Treatment segment contributed more than 26% of revenue share in 2022,
• Based on the Capacity, more than 5,000 m3 segment registered more than 21% of revenue share in 2022,
• Based on Service, Installation, and Calibration segment led the market in 2022,
• Based on Type, the Tankers segment recorded the most significant market share in 2022.

Economic Insights

The market for Ballast Water Treatment Systems offers a number of economic insights. the industry has expanded significantly as a result of the strict laws that international marine organizations have put in place to stop exotic species from spreading through ballast water. Ballast Water Treatment Systems are in demand as a result, driving market revenue. Many developing countries are booming the market in terms of economy. For Instance, In January 2022, 53% of the tonnage of the world's fleet was owned by the top five ship-owning economies, according to a UNCTAD assessment. China (13%), Japan (11%), Singapore (6%), and Hong Kong SAR (5%), in that order, contributed to the next 18% of the 55 markets. In 2022, China, the Republic of Korea, and Japan together accounted for 94% of all shipbuilding worldwide. In March 2021, the Indian government also launched the Maritime India Vision 2030 (MIV) 2030 (a Sagarmala venture) to boost the Indian marine sector. Over 150 initiatives covering 515 key activities across 10 themes encompassing all the facets of the maritime sector have been identified to form the building blocks for the future of the Indian Maritime sector. The country intends to boost cargo flow from 73 million tons per annum (MTPA) to more than 200 MTPA with the MIV 2030 initiative.

Top Market Trends

• Strict International laws: The implementation of stringent international laws, such as the International Maritime Organization's (IMO) Ballast Water Management Convention, has had an impact on the market for Ballast Water Treatment Systems. To reduce the spread of viruses and dangerous aquatic creatures between various environments, these regulations mandate that ships incorporate Ballast Water Treatment Systems.
• Growing Shipbuilding Activity: The shipbuilding sector is a key factor in the growth of the Ballast Water Treatment Systems market. Ballast Water Treatment Systems are becoming more and more in demand as shipbuilding activities rise as a result of factors including expanding seaborne trade and fleet modernization programs.
• Technological Advancements: More effective and affordable solutions have been made possible by the development of cutting-edge technology like ultraviolet (UV) disinfection, electrochlorination, and sophisticated filtration systems. To enhance system performance and adhere to strict standards, vendors continually spend on research and development.
• Retrofit Installations: The retrofit market segment has been expanding as a result of the requirement for existing boats to adhere to the ballast water management requirements. Ballast Water Treatment Systems are integrated into older ships during retrofit installations, creating a sizable market potential for system suppliers and service providers.
• Environmental Concerns and Sustainability: The marine industry's emphasis on sustainable practices and rising environmental concerns have had an impact on the development of Ballast Water Treatment Systems. Ballast water discharge has a negative influence on the environment, hence ship owners are actively investing in environmentally friendly solutions.

Market Segmentation

The Global Ballast Water Treatment Systems market can be categorized into the following: Technology, Capacity, Service, Type, and Region.

Based on Technology, the market is segmented into Physical Disinfection Treatment, Mechanical Treatment, and Chemical Treatment. Furthermore, based on the Capacity, Ballast Water Treatment Systems have been segmented into Less than 1,500 m3, 1,500-5,000 m3, and More than 5,000 m3. In addition, based on Service, the market is segmented into Installation and calibration, Performance measurement, and Recommissioning. Moreover, based on Type, Container ships, Dry bulk carriers, Tankers, General cargo, and Others. Likewise, the market is segmented based on Region: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Technology

Physical Disinfectant Treatment holds the largest share

Based on technology, physical disinfection treatment, which retains the biggest share, dominates the market for Ballast Water Treatment Systems. Physical procedures like ultraviolet (UV) radiation, electrochlorination, or sophisticated filtering systems are used in physical disinfection treatment methods to kill or deactivate dangerous organisms found in ballast water. Due to their success in adhering to strict international laws and their capacity to deliver dependable and environmentally beneficial ballast water treatment, these techniques have grown in popularity. The industry's focus on effective and long-lasting ballast water management solutions is shown in the growing adoption of physical disinfection treatment.

Based on Capacity

More than 5,000 m3 will dominate the market during Forecast Period

Vessels with a ballast water capacity greater than 5,000 cubic meters are dominating the market. This market's dominance can be attributable to the rising need for Ballast Water Treatment Systems in bigger ships, like tankers, bulk carriers, and container ships, which typically have higher ballast water capacities because of their size and operational needs. Since these ships make up a sizable fraction of the worldwide shipping fleet, demand from this group is anticipated to dominate the market for Ballast Water Treatment Systems during the course of the forecast period.

Based on Service

Installation and calibration will dominate the market during Forecast Period

It is projected that the installation and calibration segment would rule the Ballast Water Treatment Systems market throughout the forecast period based on market trends and industry estimates. This dominance can be traced to the crucial function that installation and calibration services play in guaranteeing adherence to international norms and maintaining the systems' proper operation. The demand for efficient installation and calibration services is anticipated to stay high, supporting the segment's market dominance as the shipping sector continues to place a high priority on environmental sustainability and the prevention of invasive species.

Based on Type

Tankers dominate the Ballast Water Treatment Systems market

Tankers dominate the market for Ballast Water Treatment Systems by type. The need for Ballast Water Treatment Systems is significantly influenced by tankers, which are frequently used to transport enormous amounts of liquid cargo, such as oil and gas. Tanker operators are rapidly adopting and retrofitting these systems to ensure compliance and safeguard marine ecosystems as a result of international rules and worries about the spread of exotic species through ballast water discharge. The tanker industry's size and scope contribute to its dominance in fostering market expansion and innovation for Ballast Water Treatment Systems.

Based on Region

Asia Pacific accounted for the most significant Revenue

The ballast water treatment market was most significant in the Asia Pacific. The region's market is growing as a result of the presence of numerous ports and harbors for the exchange of goods such as devices, oil and chemicals, electronics, and automobile parts. Additional vessels used in this include tankers, cargo ships, and container ships. The IMO's requirement that BWT systems be installed in ships is anticipated to increase demand for WT systems. China had the largest share of dead weight tonnes in the whole fleet in 2022, per the UNCTAD study. About 115 million wt, or 13% of the total wt, went to China. With around 68 million deadweight tonnes or 60% of the total dwt, bulk carriers were the largest stockholder. China ranked first in new orders in the first half of 2022, according to the Ministry of Sector and Information Technology (MIT), with a share of 50.8% along with the fact that China's shipbuilding sector completed 18.5 million deadweight tonnes (DWT) worth of orders during the time.

Competitive Landscape

The global Ballast Water Treatment Systems market is fragmented, with numerous manufacturers, and technology services operating at various scales, from large multinational corporations to small and medium-sized enterprises. These players frequently compete with larger corporations for market share by concentrating on specialized industries or cutting-edge technology advancements like electrochlorination, ultraviolet light, or improved oxidation processes. In order to fulfill the changing regulatory requirements of the industry, this competitive environment encourages innovation and propels the development of a variety of cutting-edge Ballast Water Treatment Systems.

The key players in the global Ballast Water Treatment Systems market include Alfa Laval (Sweden), Panasia (South Korea), OceanSaver (UK), Qingdao Sunrui (China), JFE Engineering (Japan), Qingdao Headway Technology (China), Optimarin (Norway), Hyde Marine (U.S.), Veolia Water Technologies (France), Techcross (South Korea), Siemens (Germany), Ecochlor (U.S.), Industrie De Nora (Italy), MMC Green Technology (Norway), Wartsila (Finland), NEI Treatment Systems (U.S.), Mitsubishi Heavy Industries (Japan), Desmi (Denmark), Bright Sky (U.S.), Trojan Marinex (Canada) among others.

Recent Market Developments

• January 2023: Xylem Inc. (NYSE: XYL), a leading global water technology company (“Xylem”), and Evoqua (NYSE: AQUA), a leader in mission-critical water treatment solutions and services, today announced they have entered into a definitive agreement under which Xylem will acquire Evoqua in an all-stock transaction that reflects an implied enterprise value of approximately $7.5 billion.
• In June 2021, ERMA FIRST announced that it has acquired RWO GmbH, a German marine water treatment provider. RWO is a world leader in bilge water separation systems and offers water and wastewater treatment systems for ships, ports, and offshore installations.

Segmentation of the Global Ballast Water Treatment System Market