Raipur, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Dynamic Positioning System Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
Click here to get the free sample pdf:
https://www.stratviewresearch.com/Request-Sample/735/dynamic-positioning-system-market.html#form
How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Dynamic Positioning System Market is driven by a host of factors, some of which are noted below:
- Increase in the number of offshore patrol vessels.
- Technological progressions.
- Expansion in oil & gas refineries.
The report also includes growth rate estimates based on the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Dynamic Positioning System Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- By Sub-Systems Type (Power Systems, Thruster Systems, DPS Control Systems, and Sensors),
- By Equipment Type (Class 1, Class 2, and Class 3),
- By Application Type (Merchant Vessels, Offshore Vessels, Passenger Ships, and Naval Vessels),
- By Region (North America, Europe, Asia-Pacific, and Rest of the World).
Dynamic Positioning System Market Insights
Market Trends by Equipment Type
The market is segmented as class 1, class 2, and class 3. The Class 3 segment is estimated to register the highest growth during the forecast period. It includes dynamic positioning systems that deliver precision in a vessel's position as compared to other class types. Owing to the technological advancements and preference of class 3 dynamic positioning systems, their demand is on the anvil, which is driving the growth of the segment.
Market Trends by Application Type
The market is segmented as merchant vessels, offshore vessels, passenger ships, and naval vessels. The merchant vessels segment is estimated to be the largest application segment. The growth can be attributed to the increasing use of dynamic position (DP) vessels for offshore drilling by oil industries, which is bolstering the high growth of this segment.
Which region offers the best opportunity and growth?
Asia-Pacific dominated the market in 2021. It is anticipated that emerging economies, such as China and India will be the growth engines of the Asia-Pacific's dynamic positioning systems market during the forecast period.
The market is driven by the upsurge in the number of offshore patrol vessels and technological progressions, which are the prime drivers to propel the demand for dynamic positioning systems in the region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
COVID-19 Impact on the Dynamic Positioning System Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/735/dynamic-positioning-system-market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed the company profiles of the below-given players -
- ABB Group,
- AB Volvo Penta,
- General Electric Company,
- Kongsberg Gruppen ASA,
- L-3 Communications Holdings, Inc.,
- Marine Technologies LLC,
- Navis Engineering,
- Praxis Automation & Technology B.V.,
- Rolls-Royce PLC,
- Wartsila Oyj ABP.
What deliverables will you get in this report?
- In-depth analysis of the Dynamic Positioning System Market.
- Detailed market segmentation.
- Competitive landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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About us –
Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customization of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.
Stratview Research has also launched 'Composights', an online portal that offers free thought leadership reports, whitepapers, market report synopsis, and much more for Composites and allied industries, worth US$ 20,000 every year.
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Stratview Research E-mail: sales@stratviewresearch.com Direct: +1-313-307-4176
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