Breaker Booms Market Report Overview
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The global breaker booms market size was USD 139.7 million in 2022 and is expected to reach USD 263.26 million in 2031, exhibiting a CAGR of 7.3% during the forecast period.
Breaker booms are large-size pieces of machinery equipped with high tensile hydraulic-based breaker hammers, rock grapples, and rock points. A breaker boom is a structure having a base mount, boom foot swivel, boom, stick, and tool mount as its primary components. They are meant for fast, reliable, and safe application of crushing stones, ores, rocks, and minerals. Larger boulders frequently obstruct the primary stone crusher during the drilling and grinding of rock, and the rock breaker boom system is specifically designed to address this hazardous and time-consuming issue.
The rock breaker booms provide a safe, reliable application for crushing rocks, ores and minerals with greater pace and precision thereby enabling a higher productivity output level. These characteristics have made it quite well-liked equipment in the crushing industry. As a result, manufacturers of rock breaker booms have not only ramped up the production in the anticipation of increased demand they are also bringing different sets or classes of breaker booms for specific utility in crushing rocks. This would entail a wider appeal to the users and consequently higher demand for breaker booms. Accordingly, the breaker boom market growth is anticipated to shoot up in the forecasted period.
COVID-19 Impact: Severe Lockdown Restrictions Hampered The Demand
The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. The global COVID-19 pandemic has been unprecedented and staggering, with ‘market name’ experiencing lower-than-anticipated higher-than-anticipated demand across all regions compared to pre-pandemic levels.
The unexpected occurrence of the COVID-19 pandemic led to the execution of stringent lockdown rules across numerous nations ensuring the disturbances in the production and supply chains across several sectors. With the pandemic on the rampage, most industries faced complete or partial shutdown except for the essential ones. As a result, the mining and quarrying activities too were partially halted, which in turn affected the breaker booms demand in COVID-19.
Latest Trends
"Wider Application To Increase The Utility In Mining And Quarrying"
As the manufacturers are releasing various sorts of rock breaker booms to address the rising complex problems in mining and quarrying, its application in the industry is expected to grow due to its wider acceptance for its safe reliable operational characteristics. Furthermore, the increased concern for the health and safety of workers employed in mining and quarrying is also a major booster for the breaker booms market share to surge in the forecasted period.
Breaker Booms Market Segmentation
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- By Type Analysis
According to type, the market is segmented into Small Range Breaker Booms, Medium Range Breaker Booms, and Large Range Breaker Booms. Among these due to the scale of utility the medium range breaker booms hold the largest share of the market.
- By Application Analysis
Based on application, the market can be divided into mining and quarrying and construction. As mining and quarrying requires continuous application of breaker booms for increased efficiency, mining and quarrying is the largest segment based on application.
Driving Factors
"Ramping Up Capital And Infrastructure Projects To Increase The Demand"
In the post-COVID-19 scenario, both government and private spending has increased on capital and infrastructure projects which necessitates the direct requirement in the construction activities. Additionally, the push to increase the production of capital goods such as semiconductors which requires extensive minerals and ores as inputs. This will ramp the demand for more mining and quarrying which subsequently will increase the demand for the breaker booms.
"Technology Efficiency To Increase The Productivity"
Owing to the large-scale adoption and application of breaker booms, the manufacturing industry is increasing the competence and cost-effectiveness of the breaker booms. As a result, the varieties of breaker booms with specific applications such as hydraulic breaker booms, and large or medium breaker booms are available in the market to satisfy the needs of mining and quarrying. Consequently, the demand for these more sophisticated breaker booms with specific and multiple utilities is expected to grow in the forecasted period.
Restraining Factors
"Relative Cost To Restrict The Market Base For Breaker Booms"
Although the breaker booms are gradually getting cost-efficient yet breaker booms are capital-intensive equipment and small and medium enterprises with limited capital employ cheaper labor intensive to keep lower production costs. The relatively lower cost of the labor market could act as a barrier to breaker boom market growth.
Breaker Booms Market Regional Insights
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"Asia Pacific To Dominate The Market Due To Abundant "
Asia Pacific is the largest breaker booms market with around half of the market share. The industrial sector shifting to the region as it has abundant availability of raw materials such as rare earth minerals. North America is the follower, having a significant breaker booms market share due to its developed manufacturing sector.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Sandvik (Sweden)
- Tecman (U.K.)
- Indeco North America (U.S.)
- NPK Construction Equipment (U.S.)
- Okada Aiyon (Japan)
- McQuaid Engineering (U.S.)
- RamBooms (Finland)
- Delta Engineering (India)
- TOPA (U.S.)
- Breaker Technology (Astec) (Canada)
- Davon (Czech Republic)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 139.7 Million in 2022 |
Market Size Value By |
US$ 263.26 Million by 2031 |
Growth Rate |
CAGR of 7.3% from 2022 to 2031 |
Forecast Period |
2023-2031 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Type & Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the breaker booms market expected to touch by 2031?
The breaker booms market is expected to touch USD 263.26 million by 2031.
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What CAGR is the breaker booms market expected to exhibit during 2023-2031?
The breaker booms market is expected to exhibit a CAGR of 7.3% over 2023-2031.
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Which are the driving factors of the breaker booms market?
Increase in capital and infrastructure spending to boost the breaker booms market.
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Which are the top companies operating in the breaker booms market?
Some of the top companies in the market are Sandvik (Sweden), Tecman (U.K.), Indeco North America (U.S.), NPK Construction Equipment (U.S.) and Okada Aiyon (Japan) are top companies of the breaker booms market.
