Mobile Explosive Manufacturing Unit Market is predicted to register a CAGR of 5.2% and reach a valuation of US$ 570 Mn by 2031
NEW YORK, Jan. 25, 2022 /PRNewswire/ -- Global mobile explosive manufacturing unit sales are currently valued at US$ 347.8 Mn. According to latest insights by Persistence Market Research the market is set to expand at 5.2% value CAGR from 2021 to 2031. Exploration of new mines and modernization of existing mines require technologically advanced equipment, which is the primary factor driving demand for mobile explosive manufacturing units.
Almost all industries, including mining, have been affected due to COVID-19 pandemic, which has had an instantaneous impact on the global economy. All manufacturers in the mining industry were affected at different levels with a new set of challenges, which affected demand for MEMU. Still, the mining industry in regions such as Asia Pacific and Latin America is anticipated to become stable over the coming years, creating opportunities for mining equipment companies, and translating the positive effect of the same to the mobile explosive manufacturing unit market.
Mergers, joint ventures, and expansions are taking place at a pace across this landscape.
- For example, in March 2019, Dyno Nobel entered into an agreement with BHP (Billiton Mitsubishi Alliance Pty Ltd.) to invest in a blast technology research program to improve safety and productivity across its Australian operations.
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Key Takeaways from Market Study
- Growing construction and mining activities in developing regions are expected to fuel growth of the global explosives market, which will augment demand for mobile explosive manufacturing units at mining and construction sites over the coming years.
- Equipment productivity is a key driver in efficient blasting; hence, compatibility of mobile explosive manufacturing units with different conditions, guaranteeing operational reliability, and efficiency are expected to complement market growth of mobile explosive manufacturing units.
- Manufacturers are investing in R&D activities to increase their manufacturing bases and strengthen their service plants. Key players are installing their bases across emerging markets and are trying to reach end users through a strong network of services.
- In mobile manufacturing units, the auger-based discharge method is projected to hold more than 50% market share.
- Based on explosives type, ANFO is projected to hold around 45% of overall market value share by 2031-end.
- Russia, Australia & New Zealand, and the U.S. are the top 3 countries expected to hold around 40% share of the global mobile explosive manufacturing unit market.
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"Automation in the mining sector has led to the creation of the need for technologically advanced mining equipment, which is expected to provide an impetus for mobile explosive manufacturing unit sales over the years to come." says a Persistence Market Research analyst.
Competitive Landscape
The market is moderately consolidated with the top players accounting for around 48% market share. Market participants are strategically focusing on mergers & acquisitions as one of their key strategies in order to introduce advanced products as per end user requirements and complement their revenue growth and attain higher market shares.
Some of the key players in this industry are Orica Limited, Dyno Nobel Pty Limited, Enaex, and Austin Powder Holdings Company.
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Find More Valuable Insights
The research report analyzes demand for mobile explosive manufacturing units. The global market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends & market background.
As per Persistence Market Research's research scope, the market has been analyzed on the basis of production capacity, discharge type, explosive type, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand side.
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