Ballast Water Management Market -Overview

The Ballast Water Management Convention or BWM Convention (full name International Convention for the Control and Management of Ships' Ballast Water and Sediments, 2004) is a treaty adopted by the International Maritime Organization (IMO) in order to help prevent the spread of potentially harmful aquatic organisms and pathogens in ships' ballast water.

An ballast water management plan - specific to each ship, the ballast water management plan includes a detailed description of the actions to be taken to implement the ballast water management requirements and supplemental ballast water management practices;

IMO is the United Nations specialized agency with responsibility for developing global standards for ship safety and security and for the protection of the marine environment and the atmosphere from any harmful impacts of shipping.

The convention applies to ships registered under contracting Parties to the BWM Convention, which take up and use ballast water during international voyages.

Such ships may not be issued with the relevant certificates. However, port States which are Parties will expect the ships to comply with the requirements of the Convention, so as to ensure no more favorable treatment is given to such ships.

A ballast water record book - to record when ballast water is taken on board; circulated or treated for ballast water management purposes; and discharged into the sea. It should also record when ballast water is discharged to a reception facility and accidental or other exceptional discharges of ballast water.

Global Ballast Water Management Market: Snapshot

Vessels use seawater installed for security, which has a particular marine condition influence with indigenous marine life and sea-going organisms. Discharging of untreated stabilizer water in the vessels may upset the indigenous environment. In this way, counterbalance water the board targets decreasing the ruinous impacts of stabilizer water removal. Increment in the guidelines of IMO and development in the exchange volume of the transportation business are evaluated to drive the worldwide weight water the executives showcase. Other stringent government guidelines, for example, oil and compound spills, presentation of sea-going intrusive species, and unapproved sea dumping are foreseen to support the utilization of ballast water management systems. This as a result boosts the growth of global ballast water management market.

What Drives the Global Ballast Water Management Market?

  • The size of ships is getting bigger with every passing day. This has become a major problem for the ship builders as the bigger ships are difficult for them to balance when afloat. This as a result has urged a demand for the ship manufacturers to develop technologies that can keep these massive ships balanced while in waters. Moreover, these ballast waters are kept in tanks which need periodical management. This as result has propelled the growth of global ballast water management market.
  • Asia Pacific is the largest ship building market. There are various ship building companies that can create some of the biggest ships. However, these ship yards have require massive efforts to clean and manage the ballast water tanks. This is the result the Asia Pacific is expected to witness massive investment in global ballast water management market in coming years. Moreover, the growing businesses of ballast water management services in the region is another factor that is boosting the dominance of the Asia Pacific in global ballast water management market.

Vessels use seawater onboard for stability, which has a distinct marine environment affect with indigenous marine life and aquatic microbes. Releasing of untreated ballast water in the vessels may disturb the indigenous ecosystem. Thus, ballast water management aims at reducing the destructive effects of ballast water disposal. In February 2004, the International Maritime Organization (IMO) adopted a convention for the management, sedimentation, and control of ballast water. Increase in the regulations of IMO and growth in the trade volume of the shipping industry are estimated to drive the global ballast water management market. Other stringent government regulations such as oil & chemical spills, introduction of aquatic invasive species, and unauthorized ocean dumping are anticipated to boost the usage of ballast water treatment systems. This is projected to fuel the global ballast water management market. 

International Maritime Organization has set a pact for ocean freight service providers for meeting the stringent water quality standards. It is essential to install ballast water management system in the vessels, as treatment of ballast water has not been planned or encouraged in the marine vessels. High cost of implementation is one of the restraints of the ballast water management market. However, the implementation of the essential guidelines of the ballast water management convention, 2017 and the certification and approval of upmost ballast water treatment technologies have mitigated the major barriers of indigenous marine life and aquatic microbes.

The ballast water management market for subsea vessels can be segmented based on technology, capacity, by services, and by ship type. Based on technology, the ballast water management market can be divided into physical disinfection, mechanical method, and chemical method. The physical disinfection segment is projected to lead the ballast water management market during the forecast period. Physical disinfection is more and is used to treat ballast water. Physical disinfection is a key technology due to its various advantages such as high level of efficiency and ease of operation. Based on capacity, the ballast water management market can be classified into less than 1,500 m3, between 1,500m3 – 5,000 m3, and more than 5,000 m3. In terms of services, the ballast water management market can be bifurcated into installation and calibration, performance measurement, and re-commissioning. Based on the ship type, the ballast water management market can be segmented into dry bulk, container ships, carriers, general cargos, tankers, and others. Container ships are widely used for commercial transportation in order to carry non-bulk cargo. They are used to transport a variety of goods such as manufactured goods, commodities, and refrigerated goods. Expansion of the container ship segment can be primarily attributed to the increasing trade volumes in Asia Pacific. Developing economies of Asia Pacific such as Singapore, China, Hong Kong, South Korea, and Japan, which have become global manufacturing powerhouses, are projected to lead the container ship segment in the ballast water management market.

Based on region, the ballast water management market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific dominates the global ballast water management market due to the prevalence of stringent IMO regulations in the region and the rise in focus on conservation of the environment. Asia Pacific is a key market for ballast water management systems, followed by North America and Europe. Increasing sales and production of ballast water treatment systems owing to increase in trade of cosmetics, automotive machinery & equipment, food & beverages, medical & healthcare, mining equipment, and building & infrastructure materials. This increasing production and sales of ballast water treatment will lead to drive ballast water management market in Asia Pacific region. Asia Pacific, comprising developing countries such as China, Japan, Singapore, and South Korea, has a huge potential for the ballast water management market. Increase in trade of chemicals and other goods and rise in acceptance of IMO regulations are the key drivers of the ballast water management market in the region.

Key players operating in the global ballast water management market include Xylem Inc., Wärtsilä Corporation, Evoqua Water Technologies LLC, Ecochlor, Inc., Calgon Carbon Corporation, Veolia Environnement S.A., Trojan Marinex, Alfa Laval AB, Mitsubishi Heavy Industries, Ltd., Qingdao Headway Technology Co., Ltd., atg UV Technology, Optimarin AS, and JFE Engineering Corporation. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Ballast Water Management Market