Pune, India, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Blast Monitoring Equipment Market Size
The global blast monitoring equipment market size was valued at USD 293.7 million in 2022. The market is anticipated to expand from USD 302.8 million in 2023 to USD 441.9 million by 2030, exhibiting a CAGR of 5.5% during the forecast period. Fortune Business Insights™ provides this information in its research report, titled “Blast Monitoring Equipment Market, 2023-2030”
Blast monitoring equipment is a specialized technology used to measure and analyze the impact of explosive events. Its primary focus is on ensuring safety, compliance, and environmental protection in contexts such as explosions and construction or mining blasts. Increasing government concerns about the environmental impact of explosive events have led to a heightened demand for monitoring equipment for such blasts. These instruments play a crucial role in assessing and mitigating the effects of blasts on the environment and surrounding communities.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 5.5 % |
| Blast Monitoring Equipment Market Size 2030 Value Projection | USD 441.9 million |
| Base Year | 2022 |
| Blast Monitoring Equipment Market Size in 2022 | USD 293.7 million |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 160 |
| Segments covered | By Product Type, By End-User, By Application, By Region |
| Blast Monitoring Equipment Market Growth Drivers | Increasing Demand from Construction and Mining Sectors across the Globe to Drive the Market Expansion |
| Technological Advancement in Equipment To Trigger Market Growth |
Report Coverage:
The report provides a detailed analysis of the prominent factors driving the growth of the industry over the upcoming years. It emphasize on the major aspects such as product type and leading companies. The report further gives insight into the key trends encouraging the global business scenario. The influence of the COVID-19 pandemic on the growth of the market is also included in the report.
Blast Monitoring Equipment Industry Development:
October 2023: Dyno Nobel Inc, a subsidiary of Incitec Pivot Limited extends supply relationship with Fortescue, for partnership with decarbonized projects for mining industry.
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Blast Monitoring Equipment Companies Analzyed in Report:
- Instantel Inc (Canada)
- Orica Limited (Australia)
- Incitec Pivot Limited (Dyno Nobel Inc) (Australia)
- Campbell Scientific Inc (U.S.)
- Applied Seismology Consulting (Cannon Mining Equipment) (U.K.)
- GeoSIG Ltd (Switzerland)
- MREL (Canada)
- RST Instruments Ltd (Canada)
- Libelium Comunicaciones Distribudas (Spain)
- Trolex Ltd (U.K.)
Blast Monitoring Equipment Market Regional Insights:
Asia Pacific Region Dominates the Market Owing to Government Infrastructure Investments
The Asia Pacific leads the global blast monitoring equipment market share. Substantial investments in infrastructure development by governments in the region are a key driver. This ensures the demand for blast monitoring equipment due to ongoing construction and development projects.
Increased construction and infrastructure development activities in North America contributes to the growth of the market.
Blast Monitoring Equipment Market Competitive Landscape:
Major Players Introduce New Advanced Products to Solidify their Position
Prominent industry leaders, such as Orica Limited and Instantel Inc, are actively rolling out advanced blast monitoring equipment to bolster their market presence. These innovations often come with enhanced performance and features tailored to meet the unique demands of sectors such as underground mining, civil infrastructure, and surface mining. These strategic efforts by key players significantly contribute to sustaining market growth throughout the forecasted period.
Blast Monitoring Equipment Market Segmentation:
Blast Monitoring Segment Rules the Market due to Growing Requirements in Various Sectors
By product type, the market is segmented into blast monitors, real time dust monitors, dust samplers, and visibility monitors. The blast monitoring segment leads the market. The construction, defense, and mining sectors are witnessing a surge in their requirements for blast monitoring. This technology is essential for these industries to measure and manage the impact of explosions on the environment and nearby communities while ensuring compliance with regulations.
Mining Segment Holds the Key Position in the Market Owing to the Expansion of Mining Mining-related Industries
In terms of end user, the market is divided into mining, construction, and quarry. The mining segment commands a dominating position in the market. The mining segment is thriving due to the expansion of mining and related industries, which boosts the demand for monitoring equipment to assess ground variations and frequencies.
Surface Mining Segment Commands the Key Position Owing to Rising Demand for Metal and Mineral
In terms of application, the market is segmented into underground mines, surface mining, demolition, detonation, rock blasting, and others. The surface mining segment holds the major share of the market. This is primarily attributed to the surging demand for metals and extracted minerals from surface mining operations, providing a strong impetus for market expansion.
In terms of region, the market is categorized into Europe, North America, the Asia Pacific, South America, and the Middle East & Africa.
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Blast Monitoring Equipment Market Drivers and Restraints:
Rising Technological Advancements in Equipment to Spur Market Growth
Prominent market players such as Instantel Inc, Campbell Scientific Inc, and Orica Limited are continually introducing cutting-edge products designed for applications in underground mining, detonation, demolition, and surface mining. These technological advancements are pivotal in propelling the market growth. Moreover, the rising integration of IoT technology into blast monitoring equipment is another factor driving market expansion. IoT facilitates real-time data collection and remote monitoring, which enhances safety and also improves operational efficiency.
However, a shortage of trained technical resources and regulatory codes could hinder blast monitoring equipment market growth.
Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Blast Monitoring Equipment Market Key Players Market Share/Ranking, 2022
- Global Blast Monitoring Equipment Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Product Type (USD)
- Blast Monitors
- Real Time Dust Monitors
- Dust Samplers
- Visibility Monitors
- By End User (USD)
- Mining
- Construction
- Quarry
- By Application (USD)
- Underground Mines
- Surface Mining
- Demolition
- Detonation
- Rock Blasting
- Others (General Blasting Operations, etc.)
- By Region (USD)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- North America Blast Monitoring Equipment Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Product Type (USD)
- Blast Monitors
- Real Time Dust Monitors
- Dust Samplers
- Visibility Monitors
- By End User (USD)
- Mining
- Construction
- Quarry
- By Application (USD)
- Underground Mines
- Surface Mining
- Demolition
- Detonation
- Rock Blasting
- Others (General Blasting Operations, etc.)
- By Country (USD)
- U.S.
- By Product Type
- Blast Monitors
- Real Time Dust Monitors
- Dust Samplers
- Visibility Monitors
- By Product Type
- Canada
- By Product Type
- Blast Monitors
- Real Time Dust Monitors
- Dust Samplers
- Visibility Monitors
- By Product Type
- Mexico
- By Product Type
- Blast Monitors
- Real Time Dust Monitors
- Dust Samplers
- Visibility Monitors
- By Product Type
- U.S.
- Europe Blast Monitoring Equipment Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Product Type (USD)
- Blast Monitors
- Real Time Dust Monitors
- Dust Samplers
- Visibility Monitors
- By End User (USD)
- Mining
- Construction
- Quarry
- By Application (USD)
- Underground Mines
- Surface Mining
- Demolition
- Detonation
- Rock Blasting
- Others (General Blasting Operations, etc.)
- By Country (USD)
- Germany
- By Product Type
- Blast Monitors
- Real Time Dust Monitors
- Dust Samplers
- Visibility Monitors
- By Product Type
- U.K.
- By Product Type
- Blast Monitors
- Real Time Dust Monitors
- Dust Samplers
- Visibility Monitors
- By Product Type
- France
- By Product Type
- Blast Monitors
- Real Time Dust Monitors
- Dust Samplers
- Visibility Monitors
- By Product Type
- Italy
- By Product Type
- Blast Monitors
- Real Time Dust Monitors
- Dust Samplers
- Visibility Monitors
- By Product Type
- Spain
- By Product Type
- Blast Monitors
- Real Time Dust Monitors
- Dust Samplers
- Visibility Monitors
- By Product Type
- Rest of Europe
- Germany
- Asia Pacific Blast Monitoring Equipment Market Size Estimates and Forecasts, By Segments, 2019-2030
To be Continue…
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