Ballast Water Treatment Systems (BWTS) Market Forecast 2019 – 2027Posted by Dinesh on April 1st, 2021 Compliance of UV-based Systems with IMO Regulations to Drive MarketIn order to comply with the guidelines laid down by the IMO, companies in the ballast water treatment systems (BWTS) market are increasing R&D to innovate in UV systems. For instance, in May 2019, Purestream — a water service company, announced the launch of their advanced UV ballast water treatment system to offer operational advantages to vessel operators. This is evident, since UV irradiation is one of the key treatment methods in physical treatment. In terms of treatment type, the physical treatment segment of the ballast water treatment systems market is projected for aggressive growth during the forecast period and is anticipated to reach a revenue of ~US$ 3.8 Bn by the end of 2027. Hence, companies are increasing the availability of UV-based systems to provide effective treatment options for vessel operators. Companies in the ballast water treatment systems market are partnering with water disinfection solution companies to deploy maximum flexibility to ship owners, while owners can adhere to strict guidelines laid down by the IMO. Get More Press Release by TMR: https://www.prnewswire.com/news-releases/expanding-applications-of-fiber-sensors-open-fiber-bragg-grating-amplifier-market-to-incredible-avenues-global-valuation-to-rise-at-cagr-of-9-during-2020–2030-tmr-301259646.html Companies Develop Eco-friendly and Cost-efficient Ballast Water Treatment SystemsThe emergence of new low-cost and eco-friendly ballast water treatment systems is creating incremental opportunities for manufacturers. For instance, Flow Water Technologies Ltd. — a supplier of modular electro chlorination BWMS, announced the launch of FlowSafe — an offset carbon neutral ballast water management system that operates on zero costs. Companies in the ballast water treatment systems market are developing cutting-edge equipment with compact design to suit space-constrained tankers or pump rooms. They are increasing efforts by consulting leading ship owners and operators to develop new designs of the novel system. Manufacturers in the ballast water treatment systems market are using the innovative technology to develop safe equipment. With more than a decade of experience in manufacturing ballast water treatment systems, companies have gained expertise to develop filterless solutions sans the need for additional generators. Thus, cost-efficiency of these systems are gaining popularity in the global ballast water treatment systems market landscape. Owing to this trend, ship owners are increasingly relying on vendors that have a prominent expertise in water treatment solutions. To understand how our report can bring difference to your business strategy, Ask for a brochure Increasing Trade Activities in Developing Economies of Asia Pacific and Africa: A Growth Opportunity for Global Market
High Focus on Physical Treatments: A Key Trend
Ultrasound Cleaning Systems Improve Efficiency of Different VesselsAs compared to UV-based systems, ultrasound cleaning is acquiring prominence in the ballast water treatment systems market. For instance, in September 2019, SKF — a Swedish automotive components maker, announced the launch of BlueSonic BWMS — a novel entry in ultrasound cleaning, to run extensive tests with Hapag Lloyd’s container vessel. New ultrasound cleaning systems are being pervasively used at flow rates of up to 1,500m3 per hour, which proves its efficiency in different types of vessels. As such, 1,500-5,000m3 tank capacity segment of the ballast water treatment systems market is anticipated for exponential growth, and is estimated to reach a value of ~US$ 4.1 Bn by 2027. Analysts of Transparency Market Research opine that greater environmental awareness among ship owners will catalyze the growth of ultrasound cleaning systems. Strict USCG requirements suggest that organisms must be completely destroyed before ballast water is discharged. Hence, manufacturers are increasing their production capabilities in ultrasound cleaning systems to help ship owners comply with IMO regulations. Delay in Implementation to Help Companies Develop Systems Based on IMO GuidelinesIssues, such as technical maturity of ballast water treatment systems and disputes during approval processes act as a barrier for companies. Moreover, high costs of streamlining production processes according to the set guidelines was discouraging companies to take appropriate steps toward product development. Hence, various governments and the International Chamber of Shipping (ICS) urged the IMO to delay the implementation dates so that companies could efficiently comply with the guidelines. Delay in implementation dates helped companies in the U.S. ballast water treatment systems market to abide by the type approval testing, as per the USCG rules. Companies are increasing efficacy to gain approvals for their ballast water treatment systems by the DNV GL — an international accredited registrar that performs testing through USCG laboratories. Moreover, in August 2019, DNV GL received the USCG approval for the Ballast Water Detecting Lab of Shanghai Ocean University. This is anticipated to offer opportunities for companies operating in the China ballast water treatment systems market. Ballast Water Treatment Systems Market: Overview
Increasing International Trade through Seaways: A Key Driver of Ballast Water Treatment Systems Market
Adoption of IMO Guidelines for Control and Management of Ballast Water of Ships to Drive Market
Preference for Mechanical and Chemical Treatment: A Key Restraining Factor
Multiple Regulations: Another Key Restraining Factor of Global Market
Like it? Share it!More by this author |