Explosive Accessories Category Intelligence
Report Coverage
- Market Analysis
- Cost and Pricing Analysis
- Price Driver Analysis
- Procurement Analysis
Production Size
Global market Size
$2.13 Billion
North America
$509 million
Explosive Accessories Market Trends
Category Intelligence on Explosive Accessories covers the following
- Information relating to market, supply, cost, and pricing analysis
- Hard to find data on cost and TCO models, supplier details, and performance benchmarks
- Macroeconomic and regional trends impacting cost, supply, and other market dynamics
- Category-specific negotiation and sourcing advice
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Industry Outlook & Drivers
Explosive Accessories Global Market Outlook:
Market Overview:
Global market size: $2.13 Billion (2019)
Expected to grow at a CAGR of 4–5 percent to $2.45 Billion by 2022
Market Driver
• Commodity Prices
• Demand for Coal and Metals
• Economic Growth in China, India, and other emerging nations
Porter's Analysis on Explosive Accessories
Supplier Power
- On a global scale, the industrial explosive and accessories market is consolidated with major manufacturers, such as Orica, Dyno Nobel, AEL, etc.
- The other significantly larger suppliers are regional, and they influence the local pricing
- Suppliers offer fully integrated supply of explosives, accessories, and services, which offer the best supply security and reliability
Barriers to New Entrants
- The barrier to new entrants is medium to high for explosive accessories category
- While the barrier is high for some explosive accessories, like blast initiation devices, safety fuse, detonating cord, etc., due to the use of explosive agents in the product as well as the integrated nature of accessories, explosives, other accessories, such as connectors, lead wires, ohm-meters, and multi-meters, could have other players. However, the primary players are full service integrated suppliers, which will continue to act as a barrier
Intensity of Rivalry
- Intensity of rivalry among major suppliers of explosives and accessories is high, while smaller suppliers find it difficult to compete with the major manufacturers, due to the fully integrated supply and service model that permeates the mining industry
Threat of Substitutes
- There are no known substitutes, which can currently replace explosives and accessories in blasting operations performed in mines and quarries
- End users can select among different types of initiating systems (non-electric, electric, and electronic) based on requirements, cost, and safety standards to be adopted for each application
Buyer Power
- The current supply surplus scenario gives the buyer negotiation leverage with explosive and accessories manufacturers, due to reduced commodity demand globally, especially the decline in coal mining
- While major mining companies have an advantage over junior miners, the buyer power is low, due to consolidated suppliers dominating the market
- Buyers look to engage with full service providers for supply of explosives, accessories, and services
