DUBLIN--(BUSINESS WIRE)--The "Dynamic Positioning Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Dynamic Positioning Systems estimated at US$1.7 Billion in the year 2020, is projected to reach a revised size of US$2 Billion by 2027, growing at a CAGR of 2.4% over the analysis period 2020-2027.
Class 1, one of the segments analyzed in the report, is projected to record a 2.2% CAGR and reach US$335.4 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Class 2 segment is readjusted to a revised 1.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $497.9 Million, While China is Forecast to Grow at 2% CAGR
The Dynamic Positioning Systems market in the U.S. is estimated at US$497.9 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$350 Million by the year 2027 trailing a CAGR of 2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 1.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR.
Class 3 Segment to Record 2.8% CAGR
In the global Class 3 segment, USA, Canada, Japan, China and Europe will drive the 2.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$714.3 Million in the year 2020 will reach a projected size of US$868.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$227.5 Million by the year 2027.
Select Competitors (Total 43 Featured):
- ABB Group
- GE Power Conversion
- Kongsberg Gruppen ASA
- L-3 Communications Holdings, Inc.
- Marine Technologies, LLC.
- Moxa, Inc.
- Navis Engineering Oy
- NORR Systems Hydraulics Pte Ltd
- Praxis Automation Technology B.V.
- Rolls-Royce Holdings PLC
- Volvo Penta
- Wartsila OYJ Abp
Key Topics Covered:
II. EXECUTIVE SUMMARY
- Influencer Market Insights
- Impact of Covid-19 and a Looming Global Recession
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/xbfngv