Ballast water treatment systems referred to products which assists in removal of contaminations from ballast water, that is usually used by shipping vehicles for maintaining constancy and balance. This ballast water which is taken out by these ships at the port which consist of numerous amount of toxic and harmful organisms. Ballast water treatment technologies are useful for the destroying and removing pollutants and pesticide active ingredients and from ballast water and does not permit the release of offensive species into the new aquatic ecosystem.
Global ballast water treatment system is driving due to increasing attention on preserving the marine ecosystem from the contaminants and many other harmful and dangerous species coupled with increasing government rules which are distributed by the IMO and USCG regarding the compulsory usage of system. In addition, increasing the trade of the chemicals and the other goods via the sea route coupled with strict rules and regulations that need to be followed for the approval of the products that are related to the ballast water treatment system. Changing attitude and more broadness in human way of thinking.
Stringent regulations by international maritime organization (IMO) for preventing the spreading of actually harmful aquatic organisms and pathogens in the ballast water is driving the market growth. The major factor that hampers the market growth is there are lack of awareness about the ballast water treatment system and rising concerns about the storage of by-products generated after ballast water treatment.
Strategic trade agreements among the major key players in the ballast water treatment system market which have risen in reach and number in the previous few years for strengthening the market for ballast water management technology and its widespread adoption.
$ 22,356.9 Mn
25.6%
- By Type
- By Region
- By Application
$ XXXX Mn
The global ballast water treatment system market is segmented into type, application, and region. Type segment is sub segmented into container ships, dry bulk carriers, tankers and general cargos. Container ships segment is growing due to increasing usage of this system for carrying a wide range of goods, including manufactured goods, commodities (coal, wheat), cars, and refrigerated (perishable) goods. Application segment is sub segmented into marine and military.
North America projected to register largest revenue share for the ballast water treatment system due to increasing number of sales and production of ballast water treatment especially in Canada and US coupled with increasing acceptance of ballast water treatment system among the people and increasing number of business sectors such as restaurants, bars, and hotels. Asia Pacific market register significant share due to increasing occurrence of stringent IMO regulations in the region and the rising focus on conservation of the environment coupled with increasing the ocean freight volumes from different countries such as India, China, and South Korea.
The major players involved in the global ballast water treatment system market are Veolia Environnement, Xylem, Evoqua Water Technologies, Mitsubishi Heavy Industries, and Calgon Carbon Corporation.
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