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Rockbreakers Industry to expand at a CAGR of 5.9% by during the forecast period of 2021-2031: FMI

This growing demand for metals across various industrial sectors is one of the leading driving factors of the global rockbreakers market. The mining sector has seen significant growth in the past few years and it is expected to persist in upcoming years. The increasing demand from the mining sector is expected to enable growth in the coming years. Besides mining, rock breakers find application in the construction sector. ‘

We project the demand in the industry to rise, especially on account of the increasing investment in commercial and residential construction. According to a study by Future Market Insights (FMI), we estimated the global rock breakers market to expand at a CAGR of 5.9% by during the forecast period of 2021-2031.

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The rock breakers market has been exhibiting significant growth in the recent years. This growth is projected to continue over the forecast years, starting from 2021 to 2031 because of increasing demand for blasting materials from mining and construction industries. The increasing population and rapid urbanization will create significant growth opportunities, leading to a rise in ongoing and upcoming Industrial and commercial construction projects. expected this to help the market grow in the next few years.

In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors fueling the demand for Rockbreakers. The report tracks the global sales of Rockbreakers in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the construction industry and explosive in particular.

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 a 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 rock-breaking system manufacturers in the forecast period.” Says an FMI Analyst.

Rockbreakers Market

Technology

  • Hydraulic Rock Hammers
  • Hydraulic Rock Splitters
  • Hand Held Breakers
  • Expanding Grouts and Mortars
  • Explosives
  • Pyrotechnic Products

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End User

  • Construction
  • Residential Construction & Excavation
  • Commercial Construction & Excavation
  • Industrial Construction & Excavation
  • Infrastructure Construction & Excavation
  • Mining

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa
  • Competitive Landscape

The global rockbreakers market has been identified as a highly fragmented market on the back of presence of a 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 variance S.A. These players are focusing on the expansion of their product portfolio and establishing long-term supply agreements with key end-users to attain higher market revenue shares.

The 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 the personalized requirements of consumers along with improved efficiency and durability. Expansion of sales and distributor networks, and collaborations with regional companies to expand footprint in regional markets are key strategies expected to magnify in the forecast period.

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Valuable Insights into Rock breakers 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 Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.

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The post Rockbreakers Industry to expand at a CAGR of 5.9% by during the forecast period of 2021-2031: FMI appeared first on Future Market Insights.

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