Marine Water Treatment is Predicted to Witness a Value of US$ 185.2 Billion by 2031: Transparency Market Research

Increase in implementation of marine wastewater treatment regulations pertaining to discharge requirements is expected to propel market growth

Wilmington, Delaware, United States, July 19, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global marine water treatment market was valued at US$ 25.4 Bn in 2022 and is projected to expand at a CAGR of 24.7% from 2023 to 2031.

Advancements in treatment methods for marine pollution can be ascribed to growing concerns about ocean pollution due to effluent and wastewater discharges from ships. Evolving shipboard wastewater management standards are expected to accelerate market development. For instance, demand for advanced water treatment solutions for cruise ships presents lucrative opportunities for companies in the market.

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Market Snapshot:

Report Coverage

Details

Market Revenue

US$ 25.4 Bn

Estimated Value

US$ 185.2 Bn

Growth Rate - CAGR

24.7%

Forecast Period

2021-2031

No. of Pages

305 Pages

Market Segmentation

By Process, Technology, Application

Regions Covered

North America, Europe, Asia Pacific, Middle East & Africa, South America

Companies Covered

Wartsila, Alfa Laval, Evoqua Water Technologies LLC, Veolia, Xylem Inc., Damen Green Solutions, DESMI Ocean Guard A/S, ACO Marine, Headway Technology Group Co., Ltd., Calgon Carbon Corporation, Kurita Water Industries Ltd., Parker Hannifin Corporation

Key Findings of Study

Extensive Adoption of Membrane Bioreactor (MBR) Technology in Marine Water Treatment

Significant demand for advanced water and wastewater treatment solutions for effluents from ships is expected to fuel market growth. Innovation in membrane bioreactor (MBR) system designs is expected to offer significant business opportunities to market players.

Based on technology, the membrane bioreactor segment is anticipated to account for the leading market share during the forecast period. The need to comply with offshore discharge standards is bolstering the installation of MBR systems in ships.

Focus of Maritime Industry on Compliance with Existing Sewage Discharge Regulations and Marine Pollution Prevention Guidelines to Fuel Market

Development of environmental regulations in the maritime industry is positively influencing the marine water treatment market. Stringent implementation of IMO regulations for the quality of black water discharges in the marine industry is anticipated to augment demand for marine water treatment.

Rise in concerns about marine pollution caused by black and gray water discharges has encouraged vessel operators to comply with regulations by key regional agencies. For instance, shipping companies are seeking new generation of marine water treatment methods to meet the latest grey water discharge standards set by the EPA in the U.S.

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Key Growth Drivers of Marine Water Treatment Market

Rapid expansion of the maritime trade across the globe is a key trend that is anticipated to propel demand for marine water treatment technologies. Increase in maritime trade is likely to bolster the global marine water treatment market.

Surge in adoption of a range of marine water treatment systems and continuous technological advancement in these systems in order to comply with the prevalent wastewater treatment regulations in the maritime industry are factors anticipated to drive the global marine water treatment industry.

Regional Landscape

Asia Pacific is anticipated to account for the dominant market share during the forecast period. Several countries in the region are investing significantly in maritime shipping fleets. Rapid expansion of the shipping industry in China is fueling market development in Asia Pacific.

Increase in adoption of advanced marine water treatment systems in emerging economies of the region is expected to augment market size in the next few years. Governments in the region are focusing on strengthening the shipping industry. Presence of large fleet in India also presents substantial opportunities for market players in Asia Pacific.

North America is a lucrative market for marine water treatment. Governments in the region are encouraging international maritime trade. The market in Europe is projected to witness significant growth in the near future. Rise in demand for marine water treatment in merchant ships and rapid expansion of offshore trade are trends anticipated to augment market value in the region.

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Competition Landscape

The business landscape is consolidated, with a few large companies holding the majority stake in the market. Leading players are focusing on research & development activities with the aim of unveiling more environmentally friendly water treatment technology for the marine industry.

Key players in the marine water treatment market are

Wartsila

Alfa Laval

Veolia

Xylem Inc.

Damen Green Solutions

DESMI Ocean Guard A/S

ACO Marine

Calgon Carbon Corporation

Kurita Water Industries Ltd.

Parker Hannifin Corporation

Segmentation

The global marine water treatment market is segmented based on

Process

Physical Treatment

Chemical Treatment

Biological Treatment

Technology

Activated Sludge Process

Moving Bed Biofilm Reactor

Membrane Bioreactor

Sequencing Batch Reactor

Others

Region

North America

Asia Pacific

Latin America

Europe

Middle East & Africa

About Transparency Market Research

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