Blast Monitoring Equipment Market
Growth Factors of Blast Monitoring Equipment Market
The blast monitoring equipment market size was valued at USD 293.7 million in 2022, and the market is now projected to grow from USD 302.8 million in 2023 to USD 441.9 million by 2030, exhibiting a CAGR of 5.5% during the forecast period of 2023-2030.
The COVID-19 had halted various structuring work which has hindered the blast monitoring equipment market growth. The growth of the market is caused by the disrupted supply chain, and limitation on the logistic system. Lockdowns and restriction of various construction activities has decreased demand for the device. Conversely, the pandemic had amplified the adoption of various technologies for improving the function of devices and increased the sales of the product.
The blast monitoring equipment market share globally has increased because of the rising demand from building and extractive sectors. The growth of devices has amplified the demand for industrial explosives. The imbalance in synchronization of supply and demand for resources and aggregates from quarries for infrastructure assignments is vast. This is impelling the market growth.
The integration of advanced technology with the tools is in trend. This is propelling the market growth. It helps in collection of real-time data and monitor remotely. It offers better safety and operational efficiency. The utilization of IIoT for health observation and predictive maintenance significantly improve the availability of critical assets, especially for apparatus with unpredictable failure patterns.
Comprehensive Analysis of Blast Monitoring Equipment Market
The blast monitoring equipment market and machinery and equipment industry is growing at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the machinery and equipment industry. These segmentations are methodically segregated by types of product type, end user, and application. The product types are real time dust monitors, blast monitors, and visibility monitors. The end-users involve mining, construction, and quarry. The applications involve underground mines, demolition, surface mining, detonation, rock blasting, and others.
The Asia Pacific region is conducive to the global blast monitoring equipment market, leading to a recall of USD 105.5 million owing to rapid urbanization and government investment in infrastructure development.
The top players in the market play a crucial role in the machinery and equipment industry assuring industrial prospectus growth and setting market standards. These players include Orica Limited (Australia), Incitec Pivot Limited (Dyno Nobel Inc) (Australia), Instantel Inc (Canada), Campbell Scientific Inc (U.S.), RST Instruments Ltd (Canada), Instantel Inc (Canada), Applied Seismology Consulting (Cannon Mining Equipment) (U.K.), GeoSIG Ltd (Switzerland), MREL (Canada), Libelium Comunicaciones Distribuidas (Spain), and Trolex Ltd (U.K.), these market players provide a level-playing competitive landscape.
In June 2022, Orica Limited launched a new series of Fortis Protect Series of explosives. It is designed to be used for reducing leaking of nitrate during explosion operation.
Segmentation Table
Global Blast Monitoring Equipment Market Scope
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 5.5% from 2023 to 2030
Unit Value (USD Million)
Segmentation By Product Type
Blast Monitors
Real Time Dust Monitors
Dust Samplers
Visibility Monitors
By End User
Mining
Construction
Quarry
By Application
Underground Mines
Surface Mining
Demolition
Detonation
Rock Blasting
Others (General Blasting Operation, etc.)
By Region
North America (By Product Type, By End User, By Application, and By Country)
U.S. (By Product Type)
Canada (By Product Type)
Mexico (By Product Type)
Europe (By Product Type, By End User, By Application, and By Country)
Germany (By Product Type)
U.K. (By Product Type)
France (By Product Type)
Italy (By Product Type)
Spain (By Product Type)
Rest of Europe
Asia Pacific (By Product Type, By End User, By Application, and By Country)
China (By Product Type)
Japan (By Product Type)
India (By Product Type)
Australia (By Product Type)
Southeast Asia (By Product Type)
Rest of Asia Pacific
Middle East & Africa (By Product Type, By End User, By Application, and By Country)
GCC (By Product Type)
South Africa (By Product Type)
Rest of the Middle East & Africa
South America (By Product Type, By End User, By Application, and By Country)
Brazil (By Product Type)
Argentina (By Product Type)
Rest of South America
Please Note: It will take 5-6 business days to complete the report upon order confirmation.