Jul 25, 2017   SOURCE: BusinessWire

Top 5 Vendors in the Global Ballast Water Management Market from 2017-2021: Technavio

Technavio has announced the top five leading vendors in their recent global ballast water management market report until 2021. This research report also lists 17 other prominent vendors that are expected to impact the market during the forecast period.

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Technavio has published a new report on the global ballast water management market from 2017-2021. ( ...

Technavio has published a new report on the global ballast water management market from 2017-2021. (Graphic: Business Wire)

The global ballast water management market is expected to grow at a CAGR of more than 31% through 2021. The growth of the market is attributed to the implementation of stringent regulations for ballast water management, the increase in leisure cruising, shift in oil and gas operations to deepwater and ultra-deepwater exploration and production, unintentional spread of invasive marine species, increased trade activities, and a small expansion in the global marine vessel fleet size.

Competitive vendor landscape

The global ballast water management market is highly competitive with major vendors such as ALFA LAVAL, GEA Group, Hitachi, Veolia Water Technology, and Wärtsilä competing on the basis of price, quality, and market presence. However, the market is facing challenges due to the slowdown in the marine industry and the fluctuation in the price of oil and natural gas in the global commodity market. The presence of well-diversified international and regional vendors characterizes the market. In the developed and developing economies, regional vendors dominate the market, intensifying the competition.

Thanikachalam Chandrasekaran, an industry expert at Technavio for research on water and waste management, says, “A key trend in recent refinery construction is to build the plant offsite in modules and to fabricate the structure onsite. It is not necessary for EPC companies to manufacture the entire plant themselves. At times, the vendors prefer to sub-contract the manufacturing of components to players with good manufacturing capabilities while it acts as the management firm. For instance, Saipem once completed a hydrocracking project whereby 23 very large modules were sub-contracted to a contractor in Abu Dhabi, UAE.”

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Top five ballast water management market vendors

ALFA LAVAL

ALFA LAVAL is a global provider of products for heat transfer, fluid handling, and separation. It delivers products and solutions specifically in the areas of energy, environment, transport, and food. It develops and manufactures heat exchangers, pumps, separators, and valves. The products of the company play an important role in the production of power, oil extraction, food manufacturing, and wastewater treatment.

GEA Group

GEA Group focuses on the development and production of process technologies and components for sophisticated and efficient production methods in some markets. GEA Group is one of the largest suppliers of systems and components for the food processing industry and a wide range of other process industries.

Hitachi

Hitachi is a global company that operates through multiple segments. It is engaged in information and telecommunication systems, social infrastructure and industrial systems, electronic systems and equipment, construction machinery manufacturing, high functional materials and components manufacturing, automotive systems, smart life and eco-friendly systems, logistics, and financial services.

Veolia Water Technologies

Veolia Water Technologies focuses on water treatment technologies. It is engaged in bilge water treatment, wastewater treatment, and fresh water and process water treatment. Veolia Water Technologies is present in the global ballast water management market through its product and solution technologies.

Wärtsilä

Wärtsilä is engaged in providing solutions for the marine and energy markets. Through its energy solutions segment, Wärtsilä is engaged in providing a broad range of environmentally sound solutions like ultra-flexible internal combustion engine power plants, utility-scale solar photovoltaic (PV) power plants, and liquefied natural gas (LNG) terminals and distribution systems. Through the marine solutions segment, it provides solutions to the marine oil and gas industry.

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