Global Ballast Water Treatment System (BWTS) Market: Impact Analysis of COVID-19 (2020-2024)
Some of the major players operating in the global ballast water treatment system (BWTS) market are JFE Holdings (JFE Engineering), Wartsila Corporation, Xylem Inc. and Alfa Laval AB, whose company profiling has been done in the report.
By: Daedal Research
Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and would be driving the growth of the industry. Growth of the overall global ballast water treatment system (BWTS) market has also been forecasted for the years 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
JFE Holdings (JFE Engineering)
Alfa Laval AB
The global ballast water treatment system (BWTS) market has increased at steady pace over the years and the market is further expected to propel progressively during the forecasted years 2020 to 2024. The market would propel owing to numerous growth drivers such as surging seaborne trade, augmenting economic growth, growth in shipbuilding sector, increasing initiative to save marine life, etc.
However, the market faces some challenges which are hindering the growth of the market. Some of the major challenges faced by the industry are: volatile raw material prices and uncertain environmental obligation. Whereas, the market growth would be further supported by various market trends like introduction of Hyde GUARDIAN-US ballast water treatment system, evolution of purestream, etc.
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