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Ballast Water Treatment Systems: Revenues to Shoot Up to over 3 Billion, finds Frost & Sullivan

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Ballast Water Treatment Systems:Ballast Water Treatment Systems: Revenues to Shoot Up to over 3 Billion, finds Frost & Sullivan PR Newswire LONDON, Dec. 5, 2013 - Europe will dominate the market, opportunities for manufacturers in North America and good performances for companies in Asia-Pacific An estimated 60,000 shipping vessels account for about 90 percent of the global economic trade. These ships require ballast water to maintain balance and stability. The ballast water taken onboard at the port of embarking consists of a variety of biological organisms, that can be harmful to new environments. In fact, when discharged at the destination or interim docking port, invasive species are introduced in the new aquatic ecosystem causing damage. Recognizing the urgent need to address this escalating environmental problem, two important legislations are expected to come into force next year and these will be the key drivers for the ballast water treatment systems (BWTS) market globally. New analysis from Frost & Sullivan (http://www.environmental.frost.com), Global Ballast Water Treatment Systems Market, finds that the market earned revenues of $466.6 million in 2013 and estimates this to shoot up to $3.14 billion by 2023, at a compound annual growth rate of 21 percent. The retrofit market is expected to account for a substantial share of the global market during its peak installation period in 2018.

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Published 05 December 2013
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Language English
Ballast Water Treatment Systems: Revenues to Shoot Up to over 3 Billion, finds Frost & Sullivan

PR Newswire

- Europe will dominate the market, opportunities for manufacturers in North America and good performances for companies in Asia-Pacific

An estimated 60,000 shipping vessels account for about 90 percent of the global economic trade. These ships require ballast water to maintain balance and stability. The ballast water taken onboard at the port of embarking consists of a variety of biological organisms, that can be harmful to new environments. In fact, when discharged at the destination or interim docking port, invasive species are introduced in the new aquatic ecosystem causing damage. Recognizing the urgent need to address this escalating environmental problem, two important legislations are expected to come into force next year and these will be the key drivers for the ballast water treatment systems (BWTS) market globally.