Asian Ballast Water Treatment Markets Grow
The Asian ballast water treatment systems market is highly lucrative and is expected to show tremendous growth over the next 6-7 years, according to Verify Markets (VM). Though still in the developmental stage, due to the pending IMO regulations, the market is expected to grow exponentially.
The Asian Ballast water treatment systems market was estimated to be over $150 million in 2012 and is expected to show a double digit growth rate over the next few years. The key market drivers include IMO's strict global standards for ballast water management, increase in demand from ship builders and technology advancements. The key market restraints include slow ratification of IMO's ballast water convention, short span of the market and high investment costs.
VM’s study covers countries in Asia. The key countries include South Korea, Japan, China, Singapore and Hong Kong.
The key participants in the Asian ballast water treatment systems market include Techcross Inc., Alfa Laval, Hyundai Heavy Industries Co. Ltd, Panasia Co Ltd, Hitachi Plant Technologies Ltd, China Ocean Shipping Company, and Mitsui Engineering and Shipbuilding Co Ltd. The Asian market for ballast water treatment systems has tremendous potential. China, South Korea and Japan remain at the forefront of the international shipbuilding industry.
The study captures market size estimates for the Asian ballast water treatment systems market. It provides market drivers, restraints, end user trends, market share analysis, distribution trends and quotes captured by key industry participants during the research process. The base year of the study is 2012 and revenue forecasts are provided up to 2019.
A copy of the United States Advanced Water Treatment Market research report can be obtained at www.verifymarkets.com.