DUBLIN--(BUSINESS WIRE)--The "Ballast Water Management - Global Market Outlook (2017-2026)" report has been added to ResearchAndMarkets.com's offering.
Global Ballast Water Management market is expected to grow from $19.35 billion in 2017 to reach $395.65 billion by 2026 with a CAGR of 39.8%.
Factors such as government initiatives to ward marine environmental protection, increasing demand for petroleum products, developing healthcare concerns in shipping sector are fueling the market growth. However, continuous changes in government's rules and regulations and high costs are hindering the growth of the market.
Ballast water has been an essential component of the ship's constancy. Ballast water is pumped in to maintain safe operating conditions throughout a voyage. It is important for safe and efficient modern shipping operations, it may create serious environmental, economic and health issues. By Ship Type, a container ship is a type of cargo-ship. It has revolutionised the manner in which cargo supplies are ferried and transported across the globe, by providing assurance of safety and security.
Asia Pacific is anticipated to account for the biggest market share due the presence of many emerging countries such as Japan, China, South Korea, and Singapore in the field of ballast water treatment systems. Additionally, factors such as the decommissioning of aging vessels also contribute to the growth of the ballast water management market in this region.
Some of the key players in Ballast Water Management market include
- Alfa Laval AB
- Calgon Carbon Corporation
- Evoqua Water Technologies LLC
- Mitsubishi Heavy Industries, Ltd.
- Xylem Inc.
- Wrtsil Corporation
- ATG UV Technology Ltd
- Ecochlor, Inc.
- Veolia Environnement S.A.
- Qingdao Headway Technology Co., Ltd.
- Ballast Water Containers Ltd
- Damen Shipyards Group
- Jfe Engineering Corporation
- Biolargo Maritime Solutions, Inc.
- Optimarin AS
- Trojan Marinex
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