LONDON--(BUSINESS WIRE)--Technavio estimates the global ballast water management market to grow by USD 5.29 billion, progressing at a CAGR of about 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
The market is driven by the growing marine logistics business. However, the high cost of ballast water management might challenge growth.
Ballast Water Management Market: Technology Landscape
Based on technology, the market saw maximum growth in the physical disinfection segment in 2019. The segment is driven by the introduction of technologically advanced UV light-based ballast water management systems by vendors. The market growth in the segment will be significant over the forecast period.
Ballast Water Management Market: Geography Landscape
59% of the market’s growth originated from APAC in 2019. Factors such as the rapid growth in the shipping industry, enforcement of regulations by governments, initiatives for increasing the awareness and feasibility of ballast water management, and the availability of efficient solutions offered by vendors are driving the growth of the market in APAC.
Singapore and China are the key markets for ballast water management in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Develop Smart Strategies for Your Business: Get a Free Sample Report Now!
Major Three Ballast Water Management Market Vendors:
Alfa Laval AB
Alfa Laval AB operates its business through segments such as Energy, Food & Water, Marine, Greenhouse, and Operations & Other. PureBallast 3.1 is the key product offered by the company.
Evoqua Water Technologies LLC
Evoqua Water Technologies LLC operates its business through the Applied Product Technologies segment. The company offers SeaCURE Ballast Water Management System.
Headway Technology Group (Qingdao) Co. Ltd.
Headway Technology Group (Qingdao) Co. Ltd. operates its business through the Unified segment. OceanGuard BWMS is the key product offered by the company.
Give Your Business a Head Start for 2021: Download Our Free Sample Report
Related Reports on Industrials Include:
Global Water and Wastewater Management Market for the Mining Sector – Global water and wastewater management market for the mining sector is segmented by product (water treatment and wastewater treatment) and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
Global Water Utility Monitoring System Market – Global water utility monitoring system market is segmented by technology (AMI and AMR), end-user (domestic and industrial), and geography (Europe, APAC, North America, South America, and MEA). Click Here to Get an Exclusive Free Sample Report
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
Subscribe to World-Class Market Intelligence and gain instant access to 17,000+ market research reports and connect with expert analysts
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, until 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.