NEW YORK, Sept. 29, 2023 /PRNewswire/ -- The ballast water management market size is expected to grow by USD 101.9 billion between 2022 and 2027. However, the growth momentum of the market will be progressing at a CAGR of 31.86% during the forecast period. The market is segmented by end-user (container ships, bulk carriers, oil tankers, and general cargo), technology (physical disinfection, chemical method, and mechanical method), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The growing marine logistics business boosts the market growth. Maritime transport is essential in cross-border transport networks and the crucial pillar of globalization that enables international trade and supports supply chains. In addition, maritime transport facilitates industrial development by enabling manufacturing growth, bringing together consumers, and intermediate and capital goods industries, and promoting regional economic and trade integration. Moreover, developing countries such as Asia, Oceania, and Africa are some of the key countries that are significant contributors to the seaborne trade. Furthermore, there is an increasing adoption of big data analytics across the shipping industry for improved visibility into the market as well as pricing trends, thereby facilitating the shippers to select optimal routes, and fuel consumption patterns, gauge the weather conditions, and prevent piracy risks. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a FREE PDF Sample
Key Highlights:
- The report recognizes the following as some of the key players in the ballast water management market: AB SKF, ALFA LAVAL, BioMicrobics Inc., Bio-Uv, Calgon Carbon Corp., Ecochlor Inc., Evoqua Water Technologies LLC, GEA Group AG, Headway Technology Group (Qingdao) Co. Ltd., Industrie De Nora Spa, JFE Holdings Inc., KURARAY Co. Ltd., Mitsubishi Heavy Industries Ltd., Optimarin AS, PANASIA Co. Ltd., Samsung Electronics Co. Ltd., TECHCROSS, Veolia Environnement SA, Wartsila Corp., and Xylem Inc.
- Ballast Water Management Market is fragmented in nature.
- Market to observe 30.67% YOY growth in 2023.
Trend
- Technological advances in marine management are a primary trend in the market driving marekt growth.
Challenges
- Toxic by-products of ballast water management is a major challenge hindering the market growth.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report
Keg Segments:
The market share growth of the container ships segment will be significant during the forecast period. The technique by which a cargo ship carries all its load in truck-size intermodal containers is known as containerization. One of the main advantages of container ships is that they can be loaded and discharged much faster than general cargo ships which is fueling their adoption in large-scale industries. One of the main companies that offer container ships is Alfa Laval Corp AB. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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FAQS
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Technology
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.
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SOURCE Technavio
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