Ballast Water Treatment Market - Forecasts from 2024 to 2029

Ballast Water Treatment Market - Forecasts from 2024 to 2029

The global ballast water treatment market is evaluated at US$80.153 billion for 2024 and is projected to grow at a CAGR of 27.22% to reach a market size of US$255.997 billion by 2029.

Ships carry ballast water, which can introduce new invasive species, dangerous germs, and other toxins into the marine ecosystem. Ballast water treatment techniques that aim to eliminate or neutralize hazardous species before discharge can prevent this. This assists in preserving the marine environment, mainly by preventing the spread of exotic species and lethal microorganisms.

The Ballast Water Treatment System (BWTS) disposes of and kills biological organisms in ballast water, such as zooplankton, algae, and bacteria. Technology in ballast water treatment is dynamic and rapidly growing, with many players in the market.

GLOBAL BALLAST WATER TREATMENT MARKET DRIVERS:

In the shipping industry, there is a major issue of Invasive Aquatic Species in the ship's ballast water. This is a big threat to marine life as it causes a high rise in bio-invasion. Following IMO’s “International Convention for the Control and Management of Ship’s Ballast Water and Sediments,” the development of a ballast water management plan and system onboard ships has been proven significant.

A potentially more relevant rule is the United States Coast Guard's (USCG) Final Rule, which was issued in 2012 to manage invasive species in the US and Canadian seas. Since these waterways are essential for global maritime traffic, shipowners choose BWTS that adhere to stricter rules. As of yet, no BWTS has received USCG-type approval. A range of systems are available in the market for treating bilge water aboard ships. However, restrictions such as space availability, implementation costs, and environmental friendliness all play a vital role in selecting a certain type of BWTS.

Product innovation is a key driver in the ballast water treatment industry. By adopting new technologies and enhancing current systems, manufacturers may improve treatment efficacy, minimize environmental impact, raise operational efficiency, and boost market competitiveness. Innovative technologies include enhanced filtration, hybrid treatment, on-demand treatment, and energy-efficient systems.

GLOBAL BALLAST WATER TREATMENT MARKET GEOGRAPHICAL OUTLOOK:

Asia Pacific’s ballast water treatment market is anticipated to grow significantly.

The ballast water treatment industry in Asia Pacific is growing rapidly. Several factors drive this expansion, including more marine activity, tougher laws, and growing awareness of the environmental concerns of ballast water discharge. As the region's commerce and economic activity grow, so does the demand for efficient ballast water treatment systems. Asia-Pacific accounts for 62% of international marine trade, making it the driving force behind global economic growth and logistics.

Furthermore, Asia Pacific governments are taking aggressive initiatives to conserve their marine environments by enforcing severe laws requiring ships operating in their seas to have ballast water treatment equipment. These policies promote the use of modern technology and industrial innovation.

Besides the issues related to regulation, there is a growing appreciation among shipping companies and others for the impact of ballast water discharge on the environment. The growth was characterized by the Port of Singapore’s first-time experience of handling over three billion Gross Tonnage (GT) of vessel arrivals within a year, a 9.4% from 2022 and reaching a peak of 3.09 billion GT in 2023. Despite a worldwide trade downturn, this port ecosystem is experiencing growth across all categories, including container ships, dry bulk carriers, liquid bulk and chemical tankers, ferries, and specialized boats.

Moreover, China's shipbuilding sector expanded significantly in the first half of 2024, maintaining its worldwide leadership position, according to the Ministry of Sector and Information Technology (MIIT). From January to June 2024, China completed shipbuilding projects totaling 25.02 million deadweight tonnes (DWT), up 18.4 percent from the same time in 2023. New orders increased by 43.9 percent yearly, reaching 54.22 million DWT.

This increased awareness is driving demand for long-term and effective treatment options that reduce the danger of bringing invasive species and hazardous diseases into maritime settings.

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Report Coverage:

Historical data & forecasts from 2022 to 2029
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
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Revenue Growth and Forecast Assessment of segments and regions including countries
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The global ballast water treatment market is segmented and analyzed as follows:

By Technology

Physical Disinfection
Mechanical Method
Chemical Method

By Ship Type

Container Ship
Tankers
Dry Bulk Carriers
General Cargos
Others

By Geography

North America
United States
Canada
Mexico
South America
Brazil
Argentina
Rest of South America
Europe
United Kingdom
Germany
France
Italy
Spain
Rest of Europe
Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of the Middle East and Africa
Asia-Pacific
China
India
Japan
South Korea
Taiwan
Thailand
Indonesia
Rest of Asia-Pacific