The global rockbreakers market is valued at USD 28,118.8 million in 2023 and is projected to register significant growth at a CAGR of 6.1% to reach a market valuation of USD 50,833.6 million by the end of 2033.
| Attributes | Details |
|---|---|
| Rockbreakers Market Size (2023) | USD 28,118.8 Million |
| Forecasted Market Size (2033) | USD 50,833.6 Million |
| Value CAGR (2023 to 2033) | 6.1% |
| Collective Value Share: Top 5 Countries (2023E) | 38.5% |
In 2022, rockbreakers accounted for 22% to 25% share of the global mining equipment market.
According to this new research conducted by Future Market Insights, global market revenue totaled USD 26,691.3 million in 2022. Increasing population and rapid urbanization will ensure significant opportunities for ongoing and upcoming industrial and commercial construction projects. Rockbreakers have been consistently employed in the mining and construction sectors. Demand growth for rockbreakers has escalated due to the excessive production of coal in developing countries.
| Market Statistics | Details |
|---|---|
| January to June (H1), 2021 (A) | 3.80% |
| July to December (H2), 2021 (A) | 4.90% |
| January to June (H1),2022 Projected (P) | 4.00% |
| January to June (H1),2022 Outlook (O) | 4.80% |
| July to December (H2), 2022 Outlook (O) | 5.20% |
| July to December (H2), 2022 Projected (P) | 5.00% |
| January to June (H1), 2023 Projected (P) | 4.70% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 80 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 100 ↑ |
| BPS Change: H2, 2022 (O) - H2, 2022 (P) | (+) 20 ↑ |
| BPS Change: H2, 2022 (O) - H2, 2021 (A) | (+) 30 ↑ |
The above chart depicts changes in the market owing to several global economic factors. With rising population and industrialization being one of the key driving forces, increasing investments in infrastructure, rising per capita income, and growing trade are anticipated to lead to significant developments in the market dynamics. Key developing nations have demonstrated positive economic growth potential, primarily due to rising urbanization and high demand from the construction and mining industries. Leading application/end-use sectors will collectively account for over 80% of absolute growth over the decade.
Substantial growth in investments in construction and infrastructure activities in developing countries across the Asia Pacific region will provide impetus for global rockbreakers market growth. According to FMI estimates, worldwide rockbreaker sales will increase rapidly between 2023 and 2033, creating an absolute growth opportunity of USD 22,714.77 million.
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The global market exhibited a CAGR of 3.1% during the historic period and is set to reach a market value of USD 28.1 billion in 2023, up from USD 22.9 billion in 2018.
As per this research, demand for rockbreakers has seen steady growth in the mining sector. This growth is observed in the European region and East Asian countries. Moreover, based on technology, the explosives segment is likely to grow at a rapid pace, particularly in the coal and metal mining industry.
Some of the prime concerns include storage safety for explosives, risks associated with the operation of rockbreakers, and achieving more cost-efficient solutions. Choosing the right product for a specific application has been difficult for end-use industries; hence, manufacturers have increased the number of features and efficiency with respect to industry-specific applications to fulfill varied consumer requirements.
The market is likely to see significant growth with rising usage from end-use industries. Also, new research and developments in rockbreakers are making their usage more convenient for end users, such as contractors.
Increasing number of housing & infrastructure projects and enhancement of public transportation facilities, including railways and roadways, are expected to result in significant investments in tunneling and road development projects in countries such as India, South Africa, Brazil, and Mexico, among others.
The construction industry in the United States is expected to witness steady growth, primarily due to economic recovery. This, in turn, is expected to fuel the demand for rockbreakers in these regions.
Mining and exploration companies are channelizing investment towards extracting minerals from underground mines and adopting advanced technologies to extract mineral-rich resources at deeper levels. An increasing number of relatively mature mines coupled with ever-increasing stringent regulations are expected to increase underground mining activities in key growth regions.
Adverse environmental impacts owing to toxic gases such as carbon dioxide and nitrogen oxide emanating from the use of explosive-type rockbreakers, and potential hazards associated with the storage of unstable explosives, have driven governments across countries to focus on imposing stringent regulations on the use and storage of this type of rockbreaker. Such restrictions/regulations are expected to act as an impediment to the growth of the global market.
Principal Consultant
Demand for explosives is likely to increase substantially with a ramp-up of metal production and pick-up in infrastructure activities, especially in developing countries. Rockbreakers are used in the mining of various minerals and metals such as copper, tin, zinc, iron ore, gold, bauxite, titanium, and nickel. Also, increased technological expenditure meant for enabling the effective exploration and viable processing of low-grade and complex minerals have increased mining activities.
Several industries were affected by the COVID pandemic. However, this effect can be seen as an important opportunity for big market players with strong financial backgrounds. Prominent market players can now approach companies that have a regional footprint with financial help through mergers, collaborations, and acquisitions. This can prove to be a key opportunity for big companies looking to expand their product portfolios and increase their global presence.
By product type, explosives hold a prominent share of the global market. Explosives have applications in industrial activities such as mining and quarrying, among others.
Explosives cost comparatively more than other technologies, which also results in higher market values for the segment. In addition, increasing use of explosives in the construction industry for tunneling and other applications, along with the inclination of construction professionals towards the use of explosives to save time and labor costs is leading to growing use of explosives in the construction industry.
Rockbreakers are extensively utilized in the mining industry, which represents a prominent end-use segment of the market. This is due to the increased demand for construction aggregates and rising infrastructure investments across the globe.
Prominent demand segments include coal mining, metal mining, quarrying, and non-metal mining. In the past few years, the mining sector has witnessed substantial growth due to increasing demand for coal from the power sector, which has pushed the demand for rockbreakers as well.
The metal mining sector has grown significantly due to rapid industrialization globally, which has led to an increase in the demand for metals from various end-use industries such as automotive and construction. The quarrying and non-metal mining sector has increased rapidly in the past few years, which is also driving the market for rockbreakers.
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| Country | United States |
|---|---|
| Market Share (2023) | 11.5% |
| Market Share (2033) | 10.7% |
| BPS Analysis | -80 |
| Country | China |
|---|---|
| Market Share (2023) | 14.7% |
| Market Share (2033) | 14.6% |
| BPS Analysis | -10 |
| Country | Germany |
|---|---|
| Market Share (2023) | 6.4% |
| Market Share (2033) | 7.4% |
| BPS Analysis | -10 |
| Country | Japan |
|---|---|
| Market Share (2023) | 6.0% |
| Market Share (2033) | 6.3% |
| BPS Analysis | +30 |
| Country | India |
|---|---|
| Market Share (2023) | 6.4% |
| Market Share (2033) | 7.4% |
| BPS Analysis | 100 |
FMI has projected China to remain one of the most remunerative markets throughout the course of the forecast period. One of the key factors supporting market growth in the huge mining sector in the country. As China is a leading coal- and metal-producing country, the construction segment is rapidly growing in the country, which is expected to accelerate the sales growth for rockbreakers over the coming years.
Despite a worrying start, the post-pandemic era has provided a steady picture for the market. Commodity prices moved towards stability, creating sustainable market opportunities across regions and translating into positive effects on the global construction industry.
Attributing to these factors, China remains one of the leading markets for rockbreakers in the world, which invariably makes it a lucrative pocket for product manufacturers.
Demand for rockbreakers in India is quite substantial in the South Asia & Pacific region. The developing mining and construction sectors, especially coal mining and quarrying, will offer promising growth prospects in India.
The Indian economy is growing at a substantial pace with significant investments in the construction sector, including the improvement of road infrastructure, development of smart cities, and renovation of aging infrastructure, which is creating ample demand for aggregates, thereby directly driving the sales of rockbreakers.
Also, India is the second-largest producer of coal in the world, owing to which, the mining industry is growing with an uptick in the country and driving high demand for rockbreakers.
In addition, substantial government and private investments in infrastructure development activities in the country are creating positive growth prospects for market players.
The global market for rockbreakers is a highly competitive space owing to the presence of several manufacturers operating in the market. Key market players are looking to carve a niche for themselves in particular penetrated areas. This is characterized by a large supplier base and strong B2B networks.
There is ample focus on strong research and development activities with innovation in mind. Companies supplying rockbreakers are aiming at strategic collaborations with end users and regional distributors to address the requirements of an expanding customer base. Brand consciousness and aggressive marketing strategies make it challenging for new entrants to come into this market.
Manufacturers of rockbreakers are into the development of new products owing to increasing market competition with domestic and local players.
Key Developments:
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.1% from 2023 to 2033 |
| Base Year for Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USA Dollar Million, Volume in Units, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Market Segments Covered | Product Type, End Use, Region |
| Regions Covered | North America; Latin America; East Asia; South Asia and Pacific; Europe; Middle East and Africa |
| Key Countries Covered | United States, Canada, Mexico, Brazil, Argentina, China, Japan, South Korea, India, Association of South East Asian Nations, Australia and New Zealand, Germany, France, Italy, Spain, BENELUX, NORDIC Countries, United Kingdom, Poland, Czech Republic, Saudi Arabia, United Arab Emirates, Türkiye, Northern Africa, South Africa |
| Key Companies Profiled | Orica; Hanwha Corporation; Enaex S.A.; Dyno Nobel; BME Mining; Sandvik; NOF Corporation; Sichuan Yahua Industrial Group Limited; ASTEC Industries; Yantai Eddie Precision Machinery Co., Ltd; Furukawa |
| Customization and Pricing | Available upon Request |
The market is expected to reach USD 28.1 billion in 2023.
Orica, Hanwha Corporation, and Enaex S.A. are key market players.
From 2018 to 2022, the market registered a CAGR of 3.1%.
Housing & infrastructure projects to boost the market prospects.
The market is forecast to register a CAGR of 6.1% through 2033.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 8. Market Background 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Type 9.1. Hydraulic Rock Hammers 9.2. Hydraulic Rock Splitters 9.3. Hand Held Breakers 9.4. Expanding Grouts and Mortars 9.5. Explosives 9.6. Pyrotechnic Products 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by End-Use Industry 10.1. Residential Construction & Excavation 10.2. Commercial Construction & Excavation 10.3. Industrial Construction & Excavation 10.4. Infrastructure Construction & Excavation 10.5. Mining 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 11.1. North America 11.2. Latin America 11.3. East Asia 11.4. South Asia & Pacific 11.5. Western Europe 11.6. Eastern Europe 11.7. Central Asia 11.8. Russia & Belarus 11.9. Balkan & Baltic Countries 11.10. Middle East & Africa 12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Central Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 19. Russia and Belarus Market Analysis 2018 to 2022 and Forecast 2023 to 2033 20. Balkan & Baltic Countries Market Analysis 2018 to 2022 and Forecast 2023 to 2033 21. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 22. Country Wise Market Analysis 23. Market Structure Analysis 24. Competition Analysis 24.1. Orica 24.2. Hanwha Corporation 24.3. Enaex S.A. 24.4. Dyno Nobel 24.5. BME Mining 24.6. Sandvik 24.7. NOF Corporation 24.8. Sichuan Yahua Industrial Group Limited 24.9. ASTEC Industries 24.10. Yantai Eddie Precision Machinery Co., Ltd 24.11. Furukawa 25. Assumptions and Acronyms Used 26. Research Methodology
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Rockbreakers Market
