PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1258131
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1258131
Global Blast Monitoring Equipment Market is valued approximately USD 253.3 million in 2021 and is anticipated to grow with a healthy growth rate of more than 5.0% over the forecast period 2022-2029. Blast monitoring equipment are being used by the companies to monitor the vibration, noise level, air overpressure, and environment index. Several industry standards have been set up to monitor the air overpressure and safe vibration brought on by blasting activities. Blasting actions are within accepted parameters according to the event data that was confirmed for the monitoring unit. Additionally, it might be useful to create a blast that is more effective while minimizing environmental impact. The Blast Monitoring Equipment market is expanding because of factors such as increase in usage of Industrial Internet of Things (IIoT) and increase in construction and mining activities worldwide. However, the effect of the governing rules of conduct and lack of qualified technological resources for data processing may halt market growth.
Rising mining activities world wide is fostering the market growth, according to the United States Geological Survey (USGS), United States has been on the leading countries in terms of mining operations on the global scenario. The United States mines produced minerals of around USD 84.3 billion in the year 2018 which enhanced and reached USD 86.3 billion in the year 2019. The United States mine production was around USD 28.1 billion in the year 2019, up by around USD 500 million from the year 2018. In addition, rising demand from end use industries, increase in implementation of automated condition monitoring technologies is further fostering the market growth. However, the high cost of Blast Monitoring Equipment stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Blast Monitoring Equipment Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the rising mining activities, rising adoption of IIoT devices. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising government support to mining and construction activities, geographic expansion of key players.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable