Press release
Marine Dynamic Positioning System Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts
Marine Dynamic Positioning System
What Is the Expected Marine Dynamic Positioning System Market Size During the Forecast Period?
The market size of the marine dynamic positioning system has experienced swift expansion in the past years. From $4.53 billion in 2024, it is projected to scale up to $5.06 billion in 2025, with a compound annual growth rate (CAGR) of 11.8%. This historic growth can be credited to a rise in global seaborne trade, increased offshore oil and gas exploration activities, a growing offshore wind energy sector, an expansion of offshore wind farms, and tougher maritime laws.
The market size for the marine dynamic positioning system is set to experience significant growth in the following years. It is projected to reach a staggering $7.79 billion by 2029, displaying a compound annual growth rate (CAGR) of 11.4%. This upcoming growth during the forecast period can be linked to an upsurge in dynamic position ships such as survey and research vessels, an escalating demand for renewable energy, an increase in the need for unmanned surface vehicles, a surge in maritime transportation, and a heightened focus on safety. The prediction period will also see the rise of several trends, such as breakthroughs in offshore drilling technology, technological progresses, independent operations, the integration of cloud connectivity, and the implementation of machine learning algorithms.
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What Are the High-Growth Segments in the Marine Dynamic Positioning System Market?
The marine dynamic positioning system market covered in this report is segmented -
1) By Type: Thruster Systems, Dynamic Positioning (DP) Control Systems, Sensors, Power Systems
2) By Application: Station Keeping, Maneuverability And Navigation, Dynamic Positioning Autonomy
3) By End-User Industry: Oil And Gas, Renewable Energy, Research And Survey
Subsegments:
1) By Thruster Systems: Azimuth Thrusters, Tunnel Thrusters, Retractable Thrusters, Waterjet Thrusters
2) By Dynamic Positioning (DP) Control Systems: DP Class 1 (DP1), DP Class 2 (DP2), DP Class 3 (DP3), Integrated DP Systems
3) By Sensors: Gyroscopes, GNSS (Global Navigation Satellite System) Sensors, Wind Sensors, Motion Sensors, Environmental Sensors
4) By Power Systems: Diesel Electric Power Systems, Battery Energy Storage Systems, Power Distribution Units, Power Conversion Equipment
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What Key Drivers Are Expected to Influence Future Marine Dynamic Positioning System Market Growth?
The increase in offshore construction ventures is set to fuel the growth of the marine dynamic positioning system market in the future. These activities involve various tasks and initiatives undertaken in bodies of water, mainly oceans, aimed at constructing, installing, or preserving structures like oil platforms, pipelines, bridges, and other marine infrastructures. The rise in offshore construction activities is attributed to the expansion of renewable energy efforts and technological breakthroughs that facilitate challenging projects in deeper waters. Dynamic positioning (DP) systems offer the agility to navigate vessels and equipment, making them functional in diverse locations and environments without necessarily having fixed anchor points. They also ensure that vessels maintain a safe distance from offshore structures and other vessels, thus reducing the risk of collisions or damages. For example, in August 2023, as per reports from the Office of Energy Efficiency and Renewable Energy, an American government body, the offshore wind pipelines in 2022 are projected to amass 40,083 megawatts (MW), marking a rise of 13.5% from the preceding year. Consequently, the surge in offshore construction activities is advancing the growth of the marine dynamic positioning system market.
Which Companies Hold the Largest Share Across Different Marine Dynamic Positioning System Market Segments?
Major companies operating in the marine dynamic positioning system market are General Electric Company, The Volvo Group, General Dynamics Corporation, Siemens Energy AG, ABB Ltd., L3Harris Technologies Inc., Rolls-Royce plc, Wärtsilä Corporation, Kongsberg Gruppen ASA, Japan Radio Company (JRC), Mercury System Inc., Norr Systems Hydraulics Pte. Ltd., RH Marine Corp., Grid Dynamics Holdings Inc., AquaTech India Pvt. Ltd., Thrustmaster of Texas Inc., Master Boat Builders Inc., Praxis Automation Technology B.V., AquaGuard Positioning, C-MAR Group, Navis Engineering Oyj, BlueWave Products Inc., Vision Marine Technologies LLC, Seaquest Marine Resources Private Limited, SeaNav Technologies Pvt. Ltd., Reygar Ltd.
What Trends Are Driving Growth in The Marine Dynamic Positioning System Market?
Major corporations in the marine dynamic positioning system market are escalating their training strategies by incorporating cutting-edge technologies like dynamic positioning (DP) simulators. These tools offer an immersive training landscape, mimicking diverse marine conditions and scenarios. This simulated experience enables DP operators to hone their skills, augment their decision-making aptitude, and become proficient with DP systems and processes in a risk-free, regulated environment. To cite an example, Mitsui O.S.K. Lines Ltd. (MOL) and MOL Marine & Engineering Co. Ltd., both Japan-based entities, installed DP Simulator, featuring Dynamic Positioning System (DPS), at the MOL central office in March 2022. The DP Simulator will act as a learning hub for MOL's cable-laying vessels' crew and respective engineers. Moreover, the collective intends to broaden DP training modules to customers and adapt specialized training for a range of offshore developmental vessels. These include ships involved in offshore wind energy projects. The group also aims to offer research and consultancy services for port and harbor enhancement projects, maritime construction safety standards, and measures for navigation safety.
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What Are the Emerging Geographies for The Marine Dynamic Positioning System Market Growth?
Asia-Pacific was the largest region in the marine dynamic positioning system market in 2024. The regions covered in the marine dynamic positioning system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Marine Dynamic Positioning System Market?
2. What is the CAGR expected in the Marine Dynamic Positioning System Market?
3. What Are the Key Innovations Transforming the Marine Dynamic Positioning System Industry?
4. Which Region Is Leading the Marine Dynamic Positioning System Market?
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