Global Mine Ventilation Market is expected to foresee significant growth. APAC to lead the growth!

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.

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Based on offering, the market is classified into equipment, software, and service. Amongst offerings, the equipment category accounted for a significant share in the market. This is mainly due to the growing focus of mine operators on maintaining and providing good working conditions to workers. Thus, the growing installation of advanced equipment such as fans, air coolers, and heaters are contributing to the growth of the market.

Based on technique, the market is categorized into underground mining and surface mining. Among these, underground mining is expected to witness the highest CAGR during the forecast period. The underground mining technique is used to extract the mineral and ore deposits, which are buried deep under the earth’s crust. Furthermore, many companies currently operating surface mines will be looking towards brownfield underground operations to expand operations and extend mine life. Therefore, creating better air quality in underground mining environments is one of the most pressing issues facing mining companies today.

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For a better understanding of the market adoption of the mine ventilation industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Mexico); Europe (Germany, Poland, Turkey, Sweden, and Rest of Europe); Asia-Pacific (China, India, Australia, Rest of Asia-Pacific), and Rest of World. Asia-Pacific is expected to witness the highest CAGR during the forecast period on account of growing mining activities in countries like China and India. These emerging economies are growing their middle-class populations in bustling urban centers, putting ever-increasing demands on mining operations to produce the raw materials that make modern society possible, from infrastructure to consumer goods. Furthermore, the region is projected to be the fastest-growing market for mining machinery and equipment because of its abundant deposits and increasing commodity prices.

Some of the major players operating in the market include 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..

Global Mine Ventilation Market Segmentation

Market Insight, by Offering

• Equipment
  • Fans
  • Compressors
  • Air Coolers
  • Heat Exchangers
  • Others
• Software
• Services

Market Insight, by Technique

• Underground Mining
• Surface Mining

Market Insight, by Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • Poland
  • Turkey
  • Sweden
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Australia
  • Rest of Asia-Pacific
• Rest of World

Top Company Profiles

• 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
  • Zitron S.A.