Mine Ventilation: Introduction
- Mine ventilation refers to a process of supplying fresh air to the underground working of a mine to dilute and remove toxic gases (including SO2, NOx, CO, methane, and CO2) and dust; and regulate temperature. Sources of these gases in underground mines are equipment running on diesel engines, and blasting and naturally occurring gases.
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Key Drivers and Restraints of Global Mine Ventilation Market
- Investment in the mining sector has been increasing significantly due to the rise in demand for precious stones, such as marble, granite, and limestone, in residential and commercial establishments. Mines require ventilation systems due to concentration of hazardous gases. Mine ventilation provides airflow in sufficient quantity and ensures a healthy working environment in the mine. Thus, increase in investment in the underground mining sector is expected to drive the global mine ventilation market during the forecast period.
- Stringent occupational health and safety regulations and mandatory policies implemented by safety agencies, including MSHA, NIOSH, and OSHA, are anticipated to propel the global mine ventilation market during the forecast period. Mine ventilation improves health and safety of personnel in mining workplace, as they dilute and remove poisonous gases and regulate temperature.
- High capital costs and maintenance charges associated with mine ventilation is projected to restrain the global mine ventilation market during the forecast period
Underground Mining Technique Segment to Hold Major Share of Global Market
- The global mine ventilation market can be segmented based on technique, equipment, and region
- In terms of technique, the global mine ventilation market can be divided into underground mining and surface mining. The underground mining segment is anticipated to witness significant growth from 2024 to 2030.
- Based on equipment, the global mine ventilation market can be segregated into ventilation, heating, and cooling. The cooling segment is anticipated to expand significantly during the forecast period due to increase in demand for providing suitable thermal conditions in mines in order to minimize adverse effects of heat stress.
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COVID-19 Impact
- The COVID-19 pandemic has had adversely impacted the global mining industry. Several countries enforced nationwide lockdowns as part of measures to limit the spread of the coronavirus. As a result, end-user industries such as construction, transport, and electrical had to halt their operations. This in turn, hampered the supply of several metal & minerals in the market. Mismatch between demand & supply of several metals resulted into fluctuation in metal prices. These factors have negatively impacted the mining industry.
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Asia Pacific Anticipated to Dominate Global Mine Ventilation Market
- In terms of region, the global mine ventilation market can be divided into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- The mine ventilation market in North America is projected to witness significant growth during the forecast period. This can be ascribed to rise in demand for precious stone to provide esthetic appearance to buildings.
- Asia Pacific is estimated to account for prominent share in the global mine ventilation market in 2019 due to the presence of a vast number of mines in the country. Rise in development of infrastructure in developing & developed economies such as India, South Korea, Japan, and China is a key factor propelling investment in the mining sector.
- The mine ventilation market in Europe is estimated to expand at a substantial pace during the forecast period, due to increase in mining activities in the region. Rise in spending in infrastructural sector is a key factor propelling the demand for mining activities across the region.
- The mine ventilation market in Middle East & Africa and Latin America is likely to expand at a moderate pace during the forecast period, owing to the presence of untapped minerals & metals resources such as antimony, gold, lead, and iron in these regions. In 2019, Brazil produced 260,000 metric tons of iron.
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Key Players Operating in Global Market
Leading companies operating in the global mine ventilation market are:
- ABC Industries Inc.,
- Epiroc
- Howden
- Stantec
- Twin City Fan
- Chicago Blower
- TLT-Turbo
- Continental Fan Manufacturing Inc.
Global Mine Ventilation Market: Research Scope
Global Mine Ventilation Market, by Technique
- Underground Mining
- Surface Mining
Global Mine Ventilation Market, by Equipment
- Ventilation
- Fans
- Compressor
- Blowers
- Heating
- Air Cooler
- Refrigeration Units
- Cooling
- Heaters
- Heat Exchanger
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
