Rockbreakers Demand in Mining Sector Will Surge, Accounting for More than 80% of Overall Sales: Study
The growing demand for metals across various industrial sectors is one of the leading driving factor of the global rockbreakers market. The mining sector has seen the significant growth in past few years and it is expected to persist in upcoming years. The increasing demand from in the mining sector is expected to enable growth in the coming years. Besides mining, rockbreakers find application in the construction sector. ‘
A recent market study published by FMI on the Global Rockbreakers market includes industry...
The demand in the industry is projected to rise especially on account of the increasing investment in commercial and residential construction. According to a study by Future Market Insights (FMI), the global rockbreakers market is estimated to expand at a CAGR of 5.9% by during the forecast period of 2021-2031.
Key Takeaways of Global Rockbreakers Market Study
- After a period of temporary lull, the rockbreakers market will recover exhibiting a little below 5% y-o-y growth in 2021
- Increasing mining activities will boost sales in the U.S., enabling it to account for over 69% of the North America market
- The U.K. will exhibit a steady 4.6% y-o-y growth in 2021
- Increasing construction activities will fuel demand in Germany and France
- China will exhibit increasing demand on the back of rising mining activities
“Continuously growing demand from mining sector is expected to drive the rockbreakers market throughout the forecast period. The demand from construction industry will also play pivotal role in the growth exhibited during the forecast period. Long term supply agreement with regional construction contractors and governmental agencies will provide opportunities to rockbreaking system manufacturers in the forecast period.” says an FMI Analyst.
The global rockbreakers market has been identified as a highly fragmented market on the back of presence of large number of market participants operating in the market. The leading players account for nearly 15% share in the global market. Some of the leading players in the market are Orica Limited, Enaex S.A, Dyno Nobel, Exsa S.A. Maxam corp Holdings, Sandvik, Furukawa, ASTEC Industries, Sichuan Yahua Industrial Group Co., Ltd, BME Mining, Hanwha Corporation, and Eurenco S.A. These players are focusing on expansion of their product portfolio and establishing long term supply agreements with key end users to attain higher market revenue shares.
Rockbreakers market is estimated to witness sound growth during 2021-2031. Manufacturers are expected to concentrate further on research and development activities to develop new and innovative products that meet personalized requirements of consumers along with improved efficiency and durability. Expansion of sales and distributor network, collaborations with regional companies to expand footprint in regional market are seen as a key strategies expected to magnify in the forecast period.
Valuable Insights into Rockbreakers Market
Future Market Insights has published a market research report on the Global Rockbreakers Market that contains global industry analysis of 2016–2020 and opportunity assessment for 2021–2031. The report provides in depth analysis of the global rockbreakers market through different segments, namely by technology type, by end-use, and region. The Global Rockbreakers Market report also provides supply and demand trends, along with an overview of the parent market.
About Industrial Automation Division at Future Market Insights
The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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