Mine Ventilation Market: Current Analysis and Forecast (2021-2027)

Mine Ventilation Market: Current Analysis and Forecast (2021-2027)

The global mine ventilation market is experiencing significant growth due to increasing concerns regarding air quality and the health of mineworkers coupled with policy support from governments to adopt proper ventilation systems in mining. For instance, in January 2022, Howden Group won a contract to supply a cooling system for the expansion of the Prominent Hill mine in South Australia for OZ Minerals. Howden will focus on sustainability and the solution will include closed circuitry on both condenser and evaporator circuits and R717 (Ammonia) compressors which emit no harmful CO2 or HFCs. The system consumes no water, using the ambient air as the cooling medium and Howden will supply chillers, air-cooled condensers, bulk air coolers, pumps, electronic controls, and hydraulic design. Thus, with the growing focus on providing suitable conditions in mines to minimize the dangers and adverse effects of heat stress, new and smart ventilation system are being installed at mines across the world. Therefore, the market for mine ventilation is expected to witness a significant CAGR of 5% during the forecast period.

Global Mine Ventilation market is expected to register a CAGR of around 5% over the period of 2021-2027. This is mainly due to the stringent government regulations coupled with the growing focus of major stakeholders in the mining industry to adopt make mining more sustainable and eco-friendlier. Major mining companies are investing heavily in dust monitoring, advanced ventilation systems, and dust suppression, among others. At every place in the mine where persons are required to work or pass, the air should not contain less than 19% of oxygen or more than 0.5% of carbon dioxide or any noxious gas in quantity likely to affect the health of any person. Good ventilation in underground mines gives the ability to remove and dilute harmful dust and gas. The dust and gas can be a by-product of the ore being mined, explosives, or machinery exhaust. Thus, ventilation systems are established to deliver breathable fresh air, control the temperature and humidity, and protect the miner by evacuating hazardous gases from the mine. Therefore, the market for mine ventilation is expected to witness significant growth during the forecast period.

ABB Ltd., Epiroc AB, Howden Group, Twin City Fan Companies Ltd., ABC Industries Inc., GEFA system AB, DMT GROUP, TLT-Turbo GmbH, New York Blower Company, and Zitron S.A. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst Offering, equipment category accounted for the majority share in the market in 2020”

Based on offering, the market is divided into equipment, software, and service. In 2020, equipment accounted for the majority share in the market. The primary goal of ventilation systems is to provide adequate amounts of air to all working areas. Mechanical cooling, in addition to ventilation, is required in mines to provide suitable thermal conditions to minimize the dangers and negative effects of heat stress. Furthermore, mines in cold climates frequently require heating systems to keep the air temperature above freezing to prevent ice buildup in the mine, particularly during the winter.
"Amongst Technique, underground mining is expected to witness highest CAGR during the forecast period”

Based on technique, the market is categorized into underground mining and surface mining. Among these, underground mining is expected to witness highest CAGR during the forecast period. Underground mine ventilation provides a flow of air to the underground workings of a mine of sufficient volume to dilute and remove dust and noxious gases (typically NOx, SO2, methane, CO2 and CO) and to regulate temperature. The source of these gases are equipment that runs on diesel engines, blasting with explosives, and the orebody itself. Thus, ventilation is an important aspect of mine operations, providing fresh air to miners while diluting or removing hazardous from mine workings.
"APAC to witness significant growth during the forecast period”

Asia-Pacific is expected to show the highest CAGR growth in the mine ventilation market. The major contributors to the growth of this market are China and Australia. The increase in infrastructure development in emerging economies, as well as the expansion of mining operations, has contributed to the growth of the APAC market. Asia-Pacific is the largest coal mining market with almost 75% of it being done within the region. China, Australia, and India are global leaders in the production of coal which is used for many essential activities like power generation and steel production. Hence these require high mining activities in the region which drives the demand for mine ventilation systems in the region. Furthermore, increasing number of mine exploration sites in developing countries of the region such as India and China, is further expected to drive the market. For instance, Increase in number of Mineral Exploration Sites. For instance, the Govt. of India in 2017 have notifies the state governments of Odisha and West Bengal to conduct exploration of mineral bearing areas and subsequently grant such areas for mining through auction.

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