Press release
Dynamic Positioning System Market Size Report, Trend, COVID19 Impact, Industry Outlook, Derive Growth, Share, Revenue Forecast to 2027
The COVID-19 contagion has been a nightmare to the global oil and gas industry. Global shutdowns amid the pandemic have drastically decreased the demand for crude oil in the global market. In April 2020, the crude oil features dropped zero for the first time. Key players in the industry are taking unprecedented measures to devise strategies that will help in overcoming the crisis. At Fortune Business Insights, we are committed to help you in devising various strategies to overcome the crisis.
Get Sample PDF Brochure with Impact of COVID19:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/dynamic-positioning-system-market-103535
Highlights of the Report:
While making the report, we segmented the market on the basis of product, type, consumption, distribution channel, and region. Based on the segmentation, we made a list of companies and conducted a detailed analysis of their financial positions, product portfolios, and growth strategies. Our next step included the study of core competencies of key players and their market share to anticipate the degree of competition. The bottom-up procedure was conducted to arrive at the overall size of the market.
Drivers & Restraints-
High Demand for Offshore Patrol Vessels to Drive Growth
The increasing demand for offshore patrol vessels from key industry players is estimated to drive the growth of the global dynamic positioning system market. In addition, the rapid expansion of the global oil and gas industry projected to strengthen the demand for the same. For instance, as per a report by IBISWorld, one of the leading business intelligence companies, in 2019, the oil and gas drilling sector reached the value of nearly USD 3.3 trillion. However, the high maintenance cost associated with the system is forecast to hinder the growth of dynamic positioning systems.
Regional Insights-
High Consumption of Oil and Gas in Major Countries to Help Asia Pacific Dominate
Asia Pacific holds the largest share of the global dynamic positioning system market due to the high consumption of oil and gas in the region. Countries including China, Japan, and India are focusing on expanding domestic oil and gas production in order to cut down the bills associated with oil imports. For instance, Oil and Natural Gas Corporation (ONGC), an Indian public sector multinational crude oil and gas company, is projected to make an investment of nearly USD 11 billion over the next three years in order to ramp up gas production by nearly 30% in the country.
The market in North America is projected to grow potentially in the forecast timeline owing to the rapidly increasing oil and gas exploration activities in the region. In addition, technological advancements in naval operations are estimated to further enhance the growth of dynamic positioning systems in the region.
Inquire Before Buying This Research Report:
https://www.fortunebusinessinsights.com/enquiry/queries/dynamic-positioning-system-market-103535
Competitive Landscape-
Launching innovative Products to Aid Key Players Gain Prominence
Key Players in the global dynamic positioning system market are embarking on introducing innovative products in order to gain prominence over other enterprises. For instance, in 2017, General Electric launched SeaLyte Vessel Control System (VCS) and SeaLyte DP. These systems offer standardized and structured packages for end users. They offer features including reduced hardware, limited complexity, and lower cost.
Industry Developments-
• In June 2019, Rawabi Vallienz Offshore Services signed a contract with Praxis Automation Technology to deliver a complete solution of its dynamic positioning system for the fleet of offshore supply vessels operating outside of Saudi Arabia. Under this contract, the company will retrofit 14 ships with two systems.
• In May 2018, Global Maritime and UniSea signed a five-year contract with SorstadFarstad’s offshore supply vessel to provide dynamic positioning assurance software services. These services make dynamic positioning easier and help in reducing vessel downtime.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/dynamic-positioning-system-market-103535
A List of Key Manufacturers Operating In the Dynamic Positioning System Market Report:
• KONGSBERG
• General Electric
• ABB
• Rolls-Royce plc
• Wartsila
• Marine Technologies, LLC
• Navis Engineering
• Norr Systems Pte Ltd.
• Praxis Automation Technology B.V.
• Moxa Inc.
• Others
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Dynamic Positioning System Market Size Report, Trend, COVID19 Impact, Industry Outlook, Derive Growth, Share, Revenue Forecast to 2027 here
News-ID: 2250583 • Views: …
More Releases from Fortune Business Insights™
World Environment Day 2023: How Saving Water Can Help Us Save The Environment
Wastewater comes from homes, businesses, industrial sites and farms, as well as any stormwater or groundwater that enters the sewer system.
Specialised treatment plants process this wastewater. A combination of technologies is used to achieve the treatment objectives, based on the character of raw wastewater and use of the treated wastewater. These processes include primary, secondary and tertiary treatment. Our research, published today, found wastewater treatment removes a lot of particles,…
Cosmetics Market Research Analysis by Top Key Players, Types, New Trends and For …
The global cosmetics industry was valued at USD 277.67 billion in 2020 and is projected to grow from USD 287.94 billion in 2021 to USD 415.29 billion in 2028, exhibiting a CAGR of 5% during the 2021-2028 period.
In recent times, demand for makeup and skincare products has surged dramatically. Both men and women use it to enhance their overall appearance. The industry offers a wide variety of products, such as hair care, face care,…
Aquafeed Market Trends, Growth, Share, Size and Forecast Research Report 2028
The global aquafeed market size is anticipated to reach USD 85.17 billion by 2028 and exhibit a CAGR of 5.59% during the forecast period. The increasing popularity of aquafeed and the rising investments in the research and developments activities are projected to foster growth for the market. The market's growth is also ascribable to the increasing seafood trade due to the soaring seafood consumption and consumer expenditure on fish and…
Cricket Equipment Market Demand, Recent Trends, Size and Share Estimation by 202 …
The global cricket equipment market size was valued at USD 564.43 million in 2021 and USD 594.46 million in 2022. The market is expected to reach USD 897.02 million by 2029 with a CAGR of 6.05% during the forecast period. Growing demand for cricket bats and equipment from various institutions schools, colleges, cricket clubs, and fitness centers is anticipated to drive market growth. Increasing demand for customized sports products and cricket accessories…
More Releases for Dynamic
Global Dynamic Seals Market Size by Application, Type, and Geography: Forecast t …
According to Market Research Intellect, the global Dynamic Seals market under the Aerospace and Defense category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The dynamic seals market is experiencing steady growth due to increasing industrial automation and expanding applications in sectors such…
What is dynamic mode of EV Charging? Dynamic EV Charging vs Traditional EV Charg …
A dynamic charging system is a technology that allows electric vehicles to charge while in motion. This system typically involves embedding charging infrastructure into the road surface, which enables the vehicle to charge its battery as it travels along the road. This can potentially extend the range and operational capabilities of electric vehicles, as they can receive continuous power while on the move. Dynamic charging systems have the potential to…
Dynamic Ad Insertion Market Expected to Deliver Dynamic Progression until 2028|
Los Angeles, United States December 2022,- The research study presented here is a brilliant compilation of different types of analysis of critical aspects of the global Dynamic Ad Insertion market. It sheds light on how the global Dynamic Ad Insertion market is expected to grow during the course of the forecast period. With SWOT analysis and Porter's Five Forces analysis, it gives a deep explanation of the strengths and weaknesses of…
Dynamic Signature Market Future Outlook 2027 with Cyber SIGN, Dynamic Biometric …
A2Z Market Research announces the release of the Dynamic Signature Market research report. The market is predicted to grow at a healthy pace in the coming years. Dynamic Signature Market 2021 research report presents an analysis of market size, share, and growth, trends, cost structure, statistical and comprehensive data of the global market. The Market report offers remarkable data regarding the industry’s growth parameters, the current state of the market…
Global Steering Robot Market 2018 - RMS Dynamic Test Systems, Dynamic Research, …
Eminent Market Reports, recently published a detailed market research study focused on the “Steering Robot Market” across the global, regional and country level. The report provides 360° analysis of “Steering Robot Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of Steering Robot on…
Dynamic Wealth Management Headlines
Investment Column: Johnson Matthey has formula for growth
Our view: Buy Share price: 2,016p (+78p) Johnson Matthey’s investors have become accustomed to the company making all the right noises when it updates the market. And yesterday it did not disappoint. The speciality chemicals operation, which refines platinum and is the world’s biggest maker of catalytic converters, has enjoyed a buoyant start to its financial year – sales (excluding…
