According to the new market research report “Electronic Detonator – Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Electronic Detonator market size is projected to reach USD 5.69 billion by 2029, at a CAGR of 7.8% during the forecast period.
- Global Electronic Detonator MarketSize(US$ Million), 2018-2029
Source: QYResearch, “Electronic Detonator – Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
- Global Electronic Detonator TopPlayers Rankingand Market Share (Ranking is based on the revenue of 2022, continually updated)
Source: QYResearch, “Electronic Detonator – Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
According to QYResearch Top Players Research Center, the global key manufacturers of Electronic Detonator include Yahua Group, China Poly Group, Explosives, Orica, EPC Groupe, Huhua Group, Jiangnan Chemical, Austin Powder, Guotai Group, Dyno Nobel, etc. In 2022, the global top five players had a share approximately 13.0% in terms of revenue.
In terms of product application, currently Mining is the largest segment, hold a share of 44.6%.
Market Drivers:
Safety Regulations: Increasingly stringent safety regulations in industries such as mining, construction, and quarrying are driving the demand for electronic detonators. Electronic detonators offer enhanced safety features such as precise timing, remote operation, and programmable sequences, which help minimize the risk of accidents and improve overall safety in blasting operations.
Restraint:
High Initial Investment: The high initial investment required for transitioning from traditional detonation methods to electronic detonators can act as a restraint, particularly for small-scale mining or construction operations with limited budgets. The upfront costs associated with purchasing electronic detonators and necessary supporting equipment may deter some potential buyers, slowing down market adoption to some extent.
Opportunity:
Adoption of Automation and Remote Operation: The increasing adoption of automation and remote operation technologies in blasting operations presents opportunities for electronic detonator manufacturers. Electronic detonators with remote activation capabilities enable safer and more efficient blasting operations, particularly in hazardous or inaccessible environments, driving demand from industries seeking to improve operational efficiency and worker safety.
About The Authors
Kang Qi – Lead Author
Email: kangqi@qyresearch.com
Kang Qi is a technology & market senior analyst specializing in industrial equipment. He is engaged in the development of technology and market reports and is also involved in custom projects.
About QYResearch
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