Global Blast Monitoring Equipment Market Expected to Grow Substantially Owing to Increasing Use of the Equipment by Mining Companies to Reduce Mining Costs [260-Pages] | Analysis by Research Dive

The global blast monitoring equipment market is expected to grow primarily due to the increasing usage of blast monitoring equipment in the mining industry. Underground mines sub-segment is expected to flourish immensely. The market in the Asia-Pacific region is predicted to grow with a high CAGR by 2031.

NEW YORK, March 8, 2023 /PRNewswire/ -- 

Global Blast Monitoring Equipment Market Forecast Analysis:

As per the report published by Research Dive, the global blast monitoring equipment market is expected to register a revenue of $412.7 million by 2031 with at a CAGR of 5.2% during the forecast period 2022-2031.

Segments of the Blast Monitoring Equipment Market

The report has divided the blast monitoring equipment market into the following segments:

Product Type: blast monitors, real time dust monitors, dust samplers, and visibility monitors

End-use Industry: defence, chemicals, mining & construction, oil & gas, and others

Application: underground mines, surface mining, demolition, detonation, rock blasting, and others

Region: North America, Europe, Asia-Pacific, and LAMEA

Access to the Complete PDF Sample of the Blast Monitoring Equipment Market

Dynamics of the Global Blast Monitoring Equipment Market

Growing utilization of blast monitoring equipment by various mining companies to reduce the operational costs and increase profit margins is expected to become the primary growth driver of the blast monitoring equipment market in the forecast period. Additionally, significant increase in construction blasting activities all over the world is predicted to propel the market forward. However, according to market analysts, dependability issues with monitoring system forecasting capabilities might become a restraint in the growth of the market.

Increase in development of blast monitoring technology is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, increasing application of blast monitoring equipment in mining and construction sector is expected to propel the blast monitoring equipment market forward in the coming period.

Speak with an Analyst or Schedule a call to get more Industry Insights on the Blast Monitoring Equipment Market

COVID-19 Impact on the Global Blast Monitoring Equipment Market

The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The blast monitoring equipment market, too, was negatively impacted due to the pandemic. Stoppage of almost all construction and mining activities across the globe led to a decline in demand for blast monitoring equipment which ultimately reduced the growth rate of the market during the pandemic period.

Key Players of the Global Blast Monitoring Equipment Market

The major players of the market include

• Orica
• Hexagon AB
• Acoem
• Core Lithium
• COTECH PTY LTD
• Maine Drilling and Blasting

These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.

For instance, in January 2020, Hexagon, a leading surface and underground smart mining solutions provider, announced the acquisition of Blast Movement Technologies, a blast monitoring software developer. This acquisition is predicted to boost the market share of Hexagon in the next few years.

What the Report Covers

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)

Granular Research on Specific Regions or Segments of Blast Monitoring Equipment Market & Avail 10%OFF

More about Blast Monitoring Equipment Market:

• What are the Different Types of Blast Monitoring Equipment? And What are its Benefits?
• Global Blast Monitoring Equipment Market to Observe Widespread Growth with Growing Demand for Blast Monitoring Equipment in Mining Sector

Some Trending Reports:

• The Global Stud Welding Machine Market Size was $1,028.8 million in 2021 and is predicted to grow with a CAGR of 5.1%, by generating a revenue of $1,678.8 million by 2031
• The Global Construction Machinery Attachment Market Size was $5,890.0 million in 2021 and is predicted to grow with a CAGR of 4.8%, by generating a revenue of $9,448.7 million by 2031
• The Global Nutrunner Market size is predicted to garner $1,180.2 million in the 2021–2028 timeframe, growing from $853.1 million in 2020, at a healthy CAGR of 4.2%

About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

Contact:
Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York NY 10005
(P) +91-(788)-802-9103 (India)
+1-(917)-444-1262 (US)
Toll Free: 1-888-961-4454
E-mail: [email protected] 
Website: https://www.researchdive.com
Blog: https://www.researchdive.com/blog/
LinkedIn: https://www.linkedin.com/company/research-dive/
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive-1385542314927521

Logo: https://mma.prnewswire.com/media/997523/Research_Dive_Logo.jpg

SOURCE Research Dive

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED