|By PR Newswire||
|April 1, 2014 02:00 AM EDT||
LONDON, April 1, 2014 /PRNewswire/ -- The global ballast water treatment systems market is estimated to grow at a compound annual growth rate of 21 percent from 2012 until 2019. The retrofit market is expected to account for a substantial share of the global market during its peak installation period in 2018. Bulk carriers as well as oil and chemical tankers will be key end users, generating cumulative revenues over the forecast period. Europe will dominate market revenues from 2017 to 2019 while Asia-Pacific will display consistent performance throughout the study period.
On this subject Frost & Sullivan is organizing an online conference open to all companies interested in learning more about future trends and challenges facing the global ballast water treatment systems market. Research Analyst Vandhana Ravi will present the key findings of an exhaustive research during the past few weeks. The conference will take place on Thursday 10 April, at 4 pm BST.
Europe has numerous merchant vessels operating on the seas of Germany, Greece, Norway, Russia, Italy, France and Belgium, which have emerged as market hotspots. The region's huge shipyard industry supports major retrofit opportunities, creating a fertile market for ballast water treatment systems. Asia-Pacific, being a hub for shipbuilding and the base for the majority of ship owners and yards, is a key revenue generating market. The most interesting countries are and will be Japan, China and South Korea.
Legislation will be the key driver for the ballast water treatment systems market globally with significant developments that include the expected ratification of the International Maritime Organisation (IMO) convention in 2014. "Furthermore, the recent acceptance of the IMO convention by Germany raising the dead weight tonnage to 30.3 percent, support from the United States Coast Guard (USCG) legislation, Alternate Management System (AMS), and other national legislations are sustaining the demand for ballast water treatment systems installations," adds Frost & Sullivan Research Analyst Ravi.
The conference will explore the market growth and structure post ratification of the IMO Convention, the strength of alternate management systems (AMS) and the USCG regulations and their impact on the current market scenario. The analyst will also present the current technologies that can potentially conquer the market along with key insights on the competitive structure and statistics on the current addressable market.
The briefing will also discuss some of the following key industry challenges:
Persuading ship owners to purchase ballast water treatment systems, especially for retrofits
Unorganised market and lack of awareness in determining the appropriate technology
Credibility of equipment suppliers with escalating market competition
Costing and pricing
Constantly shifting IMO ratification timeline
The presentation will be followed by a Q&A session with the analyst.
To participate in this complimentary briefing and if you are interested in a brochure of this analysis, please e-mail Chiara Carella, at [email protected], with your contact details. The brochure and a registration link will be e-mailed to you. You may also register to receive a recorded version of the briefing at anytime by submitting the aforementioned contact details.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
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