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A31371 | Pages: 318 | Charts: 61 | Tables: 115 |
The global blast monitoring equipment market was valued at $253.3 million in 2021, and is projected to reach $412.7 million by 2031, growing at a CAGR of 5.2% from 2022 to 2031. Blast monitoring equipment is used to measure blasting activity at mine sites. Using blast monitoring equipment, companies can monitor vibration, air overpressure, noise levels and air overpressure in and around the mine. Several industry guidelines have been established to monitor air overpressure produced and safe vibration by blasting activities. The event data verified for the monitoring unit confirms if blasting activities are within standard guidelines. It can also help to design a more productive blast that does not disturb the surroundings.
The effect of the governing rules of conduct and a lack of qualified technological resources for data processing further limit the market for blast monitoring equipment. Additionally, the lack of knowledge in vast distances, as well as blast monitoring equipment maintenance, are projected to hinder the blast monitoring equipment market during the forecast period.
The Industrial Internet of Things (IIoT) has opened new development potential for firms that require blast/vibration monitoring. Companies may link sensors used to monitor multiple machine factors, such as blast, vibration, and temperature, to the Internet and monitor their assets in real time by integrating IIoT with current production processes. Companies may use IIoT technology to combine and process all data on a single platform. Moreover, the use of IIoT for condition monitoring and predictive maintenance can significantly improve critical asset uptime, especially for assets with unpredictable failure patterns. Furthermore, IIoT allows companies to greatly increase their operational performance and dependability by implementing revolutionary changes in them through business process automation. In recent years, industries such as manufacturing and oil & gas have used IIoT in their operations. The increase in usage of IIoT represents a potential opportunity for the blast monitoring equipment market.
The key players profiled in the blast monitoring equipment market report include Orica, Acoem, ECOTECH PTY LTD, Hexagon AB, Core Lithium, and Maine Drilling and Blasting.
The blast monitoring equipment market is segmented on the basis of product type, end-use industry, application, and region. By product type, the market is divided into blast monitors, real time dust monitors, dust samplers, and visibility monitors. By end-use industry, the market is classified into defense, chemicals, mining & constriction, oil, appliances, and others. By application, the blast monitoring equipment market is divided into underground mines, surface mining, demolition, rock blasting, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The blast monitoring equipment industry is segmented into Product Type, End-use Industry and Application.
[PRODUCTTYPEGRAPH]
By product type, the blast monitors sub-segment is the second most dominating subsegment in 2021. Blast monitors have showcased improved blasting techniques in both underground and surface mining. The blast record contains a range of information used to assess the performance of a vibration. The blast recorders' charge which results in the highest vibration levels can be determined which is likely to be responsible for the greatest amount of breakage and damage. The effects of charge weight, charge length, and explosive strength can be measured. These are predicted to be the major factors affecting the blast monitoring equipment market size during the forecast period.
[APPLICATIONGRAPH]
By application, the underground mines sub-segment dominated the blast monitoring equipment market in 2021. Underground mines reduce expenditures and design time to ground control than surface mines and quarries because subsurface entrances are more challenging to develop and manage than rock or soil slopes. Workers are immediately exposed to the possibly unstable ground in the ore zone when using traditional underground mining methods such as shrinkage and cut-and-fill. Workers do not access the mineral zone when using bulk mining techniques such as blast hole stopping.
[ENDUSEINDUSTRYGRAPH]
By end-use industry, the mining & construction sub-segment dominated the global blast monitoring equipment market share in 2021. The increase in construction and mining activities is essential for the advancement of civilization. Designing of equipment such as excavators, dozers, and cranes aid in the construction of better future infrastructure, such as skyscrapers, motorways, and sewers. Such applications of blast monitoring equipment in the mining and construction sector are bound to create a scope of growth for the sub-segment during the forecast period.
[REGIONGRAPH]
By region, Asia-Pacific dominated the global blast monitoring equipment market in 2021 and is projected to be the fastest-growing region during the forecast period. The Asia-Pacific blast monitoring equipment market analysis is expanding as a consequence of the greater application of blast monitors throughout manufacturing activities in various industrial sectors and the strict regulations framework surrounding labor security in the rising mining industry. The Asia-Pacific market for blast monitoring equipment is expanding as a result of such factors as growing acceptance of predictive maintenance technology, competitive pressure to improve operational competence, expansion of manufacturing activities, and affordable labor costs in the Asia-Pacific developing region.
Impact of COVID-19 on the Global Blast Monitoring Equipment Industry
Key Benefits For Stakeholders
Highlights of the Report
Key Market Segments
Key Market Players