Dynamic Positioning System Market to Surge at a Robust Pace by 2026 Kongsberg Gruppen ASA, General Electric, Wartsila Oyj ABP, ABB, Rolls-Royce, Navis Engineering

Dec 02 2019 / By Absolute Markets Insights

The Global Dynamic Positioning System Market is Predicted Reach US$ 2213.96 Mn in 2022, Due to Increase in Offshore Drilling Activities by Oil & Gas Industry

On the other hand, water and noise pollution by marine activities is keeping the market from achieving optimum potential. A variety of biological materials, including plants, animals, viruses, and bacteria poured into the water especially via the ballast water discharge act as pollutants. These materials often include nuisance, exotic species, invasive, that can cause significant ecological harm and at a huge scale, economic damage to aquatic ecosystems that may include serious human health problems. This restrains to the growth of the dynamic positioning system market. However, incorporation of dynamic positioning systems in small-sized remotely operated vehicles (ROV) offers an opportunity for the expansion of applications of dynamic positioning systems.

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Merchant Vessels Is Anticipated to be the Fastest Growing Segment During the Forecast Period, 2018 - 2026

Among the different types of dynamic positioning systems provided in the report, merchant vessels segment accounted for highest share in 2017. The factors such as liberalization and globalization has increased the world trading activities. This is responsible for the prolonged exceptionally good Dynamic Positioning System Market conditions in the shipping industry, especially for merchant vessels. Merchant vessels are available in different sizes and shapes. They can be as small as a 6 m long diving boat, or as big as ultra large crude carriers (ULCC) that can be up to 415 m long. They are the main instrument for ocean transportation that carry crude oil and goods throughout the world, in varied sizes of tankers, containers and bulk carriers. With these wide variety of utilities, merchant vessels play an important role in driving the Dynamic Positioning System Market.

Asia Pacific is Projected to have the Highest Growth During the Forecast Period, 2018 - 2026

The Dynamic Positioning System Market is growing in this region owing to the increasing deep-sea mines and the rising maritime trade with countries in this region. Additionally, safety operations across deep ocean waters during offshore oil and gas operations is heightening the demand for dynamic positioning systems in the Asia-Pacific region. The incorporation of advanced technologies and use of dynamic positioning systems for offshore drilling by the oil industry is boosting the demand of dynamic positioning systems in emerging economies as well. Furthermore, countries like Japan, South Korea, Australia, and Singapore are highly developed economies, with high levels of tech production storage space and off-loading vessel operations. All these aforementioned factors can be attributed to the high growth of dynamic positioning system market in Asia Pacific region.

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Dynamic Positioning System Market is Fragmented with the Presence of Global and Regional Players  

Some of the key participants in global Dynamic Positioning System Market are Kongsberg Gruppen ASA, General Electric, Wartsila Oyj ABP, ABB, Rolls-Royce, Navis Engineering, Marine Technologies, LLC, Praxis Automation Technology, Mitsui Engineering & Shipbuilding, and Guidance Marine amongst others.
  • Global Dynamic Positioning System Market - By Product
    • Class I
    • Class II
    • Class III
  • Global Dynamic Positioning System Market - By Application
    • Passenger Ships
    • Merchant Vessels
    • Offshore Vessels
    • Naval Vessels
    • Others
  • Global Dynamic Positioning System Market - By Region:
    • North America
      • U.S.
      • Rest of North America
    • Europe
      • France
      • The UK
      • Spain
      • Germany
      • Italy
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Southeast Asia
      • Rest of Asia Pacific
    • Middle East and Africa
      • GCC Countries
      • Southern Africa
      • Rest of Middle East and Africa
    • Latin America
      • Brazil
      • Rest of Latin America
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