Detonator Market in terms of value is estimated to register a 3% CAGR during the forecast period.
The global detonator market is expected to witness rapid growth during the forecast period. Asia-Pacific is expected to dominate in the detonator market owing to the presence of leading global detonator manufacturers, such as Orica Limited, MAXAM, Poly Permanente Union Holding Group Limited, and Sichuan Yahua Industrial Group CO., LTD. These companies are offering low cost and technologically advanced detonators for increasing their market share, which is contributing to the increasing use of detonators in the region.
In 2019, North America held the second largest market share in the global detonator market. The continuously rising mining and infrastructure development is expected to create lucrative opportunities to the detonator market during the forecast period. Along with this, the global detonator manufacturers are expanding their footprint in North America, as the region is among the prime markets for growing construction, mining, and blasting activities in this region. This is expected to increase the demand for detonators in this region.
The key players of the global detonator market are Orica Limited (Australia), Dyno Nobel (US), AEL Intelligent Blasting (South Africa), and MAXAM (Australia), Poly Permanente Union Holding Group Limited (China), Sichuan Yahua Industrial Group CO., LTD (China), Enaex (Chile), BME South Africa (South Africa), Sasol (South Africa), and Austin Detonator (Czech Republic).
The global detonator market is segmented based on type, and application. On the basis of type the global detonator market is divided into non-electric, electronic, and electric. The non-electric segment held the largest market share in 2019 as this segment has been witnessing significant growth in the demand for detonators owing to precise timing, reduced vibrations, and reduced sensitivity.
On the basis of application, the global detonator market is segmented into coal mines, metal mines, non-metal mines, and others. The coal mines segment is expected to hold the maximum market share, due to increase in demand for coal in various industries. This is expected to increase the demand of coal mines in detonator during the forecast period.
On the basis of region, the global detonator market is segmented into North America, Europe, Asia-Pacific (APAC), and the rest of the world.
Global Detonator Market, by Region, 2019
Source: MRFR Analysis
Asia-Pacific is expected to witness excellent growth in the detonator market, owing to the demand for various metals and coal. The region has emerged as one of the highest consumers of metals, coal, and minerals due to the rapid urbanization and infrastructure development, demand for efficient power generation, and growth in manufacturing, food processing, and chemical industries. Thus, the demand for various metals and coal is increasing all over the region, which is expected to drive the demand for detonators that are used for extracting metals and coal through the forecast period.
China is one of the major producers of detonators in Asia-Pacific. Coal and metal consumption have increased to meet the high demand for industrial production and power generation. Coal is the primary source of energy as two-thirds of the country’s electricity is produced by coal-fired plants. Additionally, consumer goods, automotive, manufacturing, and processing industries, require metals in very high quantities, driving the demand for detonators all over the country.
The global detonator market has been segmented on the basis of type, application, and region. On the basis of type, the global detonator market is segmented into electric detonators, non-electric detonators, and electronic detonators. The non-electric detonators segment is expected to dominate the market, due to precise timing, reduced vibrations, a reduced sensitivity.
Key Questions Addressed by the Report
|Market Size||2027: Significant Value|
|CAGR||3% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Orica Limited (Australia), Dyno Nobel (US), AEL Intelligent Blasting (South Africa), and MAXAM (Australia), Poly Permanente Union Holding Group Limited (China), Sichuan Yahua Industrial Group CO., LTD (China), Enaex (Chile), BME South Africa (South Africa), Sasol (South Africa), and Austin Detonator (Czech Republic)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
1.98% is the CAGR recorded for the detonator market.
Asia-Pacific is going to lead in the detonator market.
In 2020, the North America region has the second largest market share in the detonator market.
The continuous rising mining and infrastructure development are the factors creating lucrative opportunities for the detonator market.
The type and application are the segments of the detonator market.
North America, Europe, Asia-Pacific (APAC), are the regions grossing on the top in the detonator market.
The Asia-Pacific region is to witness remarkable growth in the detonator market.