Remote Firing Systems Market by Initiating Devices (Initiation Systems, Detonators), Application (Mining & Quarrying, Construction, Road Construction, & Military) & Region (North America, Europe, Asia-Pacific, South America, Africa) - Global Forecast to 2022
“Rising dredging operations on seaports & routes, increasing mining activities, and new urban infrastructure programs in emerging economies are expected to drive the remote firing systems market”
The remote firing systems market is projected to grow from USD 469.0 million in 2017 to USD 531.0 million by 2022, at a CAGR of 2.51% during the forecast period. The global trade via sea routes is increasing, which is expected to increase the global container traffic along the sea. As such, the demand for the addition and resizing of sea routes and ports is expected to grow to accommodate the increasing number and sizes of commercial vessels. As these additions and resizing will involve underwater drilling and blasting activities, the demand for remote firing systems is expected to grow. The major restraining factors for the remote firing systems market are mining bans and strict government regulations due to the increasing pollution from mining activities.
“The mining & quarrying application segment is estimated to dominate the remote firing systems market in 2017”
Based on application, the mining & quarrying segment is estimated to account for the largest market share in 2017. Growing mining & quarrying activities specifically in emerging economies like India & China and increasing mineral explorations for minerals in African countries are factors influencing the growth of the remote firing systems market in mining & quarrying application.
“The Africa remote firing systems market is expected to witness the highest growth rate during the forecast period”
Based on region, the remote firing systems market in Africa is projected to grow at the highest CAGR during the forecast period owing to the increasing mining and mineral exploration activities in the region. Asia Pacific accounted for the largest share of the remote firing systems market in 2016 and this trend is expected to continue throughout the forecast period. New infrastructure development programs are expected to drive the remote firing systems market.
Profile break-up of primary participants of the remote firing systems market
• By Company Type - Tier 1 – 30%, Tier 2 – 50% and Tier 3 – 20%
• By Designation – C level – 35%, Director level – 25%, Others – 40%
• By Region – North America - 39%, Europe – 31%, Asia Pacific – 17%, RoW – 13%
Some of the major companies profiled in the remote firing systems market report include Orica Mining Services (Australia), Solar Industries Limited (India), Dyno Nobel (South Africa), and Dynitec (Germany).
The remote firing systems market has been segmented on the basis of initiation device, application, and region. On the basis initiating device, the remote firing systems market has been segmented into initiating system and detonator, and on the basis of application, the market has been segmented into mining & quarrying, construction, road construction, and military.
Reasons to buy the report:
From an insight perspective, this research report has focused on various levels of analyses —industry analysis (industry & technology trends, market-share analysis of top players, and company profiles). These together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the remote firing systems market, high-growth regions and countries, and their respective regulatory policies, government initiatives, and market drivers, restraints, and opportunities.
The report provides insights into the following pointers:
• Market Penetration: Comprehensive information on the remote firing systems market and products offered by the top 23 players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the remote firing systems market
• Market Development: Comprehensive information about lucrative markets - the report analyses markets for remote firing systems across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the remote firing systems market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities, and vendor analysis of the leading players in the remote firing systems market
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