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Recent research: Invention of remote firing systems trend can change the industry standered

Recent research: Invention of remote firing systems trend can change the industry standered

The remote firing systems market is estimated to be USD 469.0 Million in 2017 and is projected to reach USD 531.0 Million by 2022, at a CAGR of 2.51% from 2017 to 2022.

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The growth of the market can be attributed to the increasing mining & quarrying activities and the various infrastructure development projects across the globe.

The remote firing systems market has been segmented on the basis of initiating device, application, and region. Based on initiating device, the market has been further segmented into initiation system and detonator.

The detonator segment is projected to grow at a higher CAGR than the initiation system segment during the forecast period.

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Download complete PDF here: tinyurl.com/y8479xkn

The remote firing systems market has been segmented on the basis of initiating device, application, and region. Based on initiating device, the market has been further segmented into initiation system and detonator.

The detonator segment is projected to grow at a higher CAGR than the initiation system segment during the forecast period. Factors such as increasing underground & surface mining activities and growing infrastructure spending in emerging economies have contributed to the growth of the detonator segment’s market.

Initiation systems and detonators are classified into electric, non-electronic, and electronic. Based on initiation system, the non-electronic segment is projected to lead the market during the forecast period owing to the increasing use of non-electronic initiation systems in mining, dredging, and infrastructure development activities.

Based on application, the remote firing systems market has been segmented into mining & quarrying, construction, road construction, and military. The mining & quarrying application segment is estimated to account for the largest market share in 2017. 

Increasing mining & quarrying activities specifically in emerging economies like India & China and rising mineral explorations in African countries are factors influencing the growth of the remote firing systems market in mining & quarrying application.

Asia Pacific accounted for the largest share of the remote firing systems market in 2016, followed by North America and Europe. Australia is estimated to account for the largest share of the Asia Pacific remote firing systems market in 2017 due to increased underground & surface mining activities in the country. 

 At present, the accuracy of remote firing systems is enhanced by modern microchip-aided electronic initiation devices and detonators. However, the desired accuracy is still not achieved.

The major players in the remote firing systems market include Orica Mining Services (Australia), Dyno Nobel (Australia), and Solar Industries Limited (India).

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