Dynamic Positioning System Market is Predicted Reach US$ 2213.96 Mn in 2022, Due to Increase in Offshore Drilling Activities by Oil & Gas Industry
Dynamic positioning is a computer-controlled system to automatically maintain a vessel’s position and heading by using its own propellers and thrusters. Increase in offshore drilling activities by the oil & gas industry as well as in marine transport activities has led to the increased adoption of dynamic positioning systems in vessels. As per the International Energy Agency (IEA) World Energy Outlook 2017, the overall energy demand is anticipated to grow by 30 percent between 2018 and 2040, at around 1 percent a year. This attributes to the increased activities in the oil & gas industry and subsequently, increase in dynamic positioning system in vessels.
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Top Key Players
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
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. 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 market conditions in the shipping industry, especially for merchant vessels. Merchant vessels are available in different sizes and shapes.
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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