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

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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.

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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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Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global mine ventilation market were the three major steps undertaken to create and analyze the adoption of mine ventilation in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global mine ventilation market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of mine ventilation market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the mine ventilation market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as offering and technique. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of mine ventilation market. Further, we conducted factor analysis using dependent and independent variables such as various offering and technique of mine ventilation. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Mine Ventilation market sector across the globe.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global mine ventilation market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of mine ventilation market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global mine ventilation market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global mine ventilation market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of offering and technique in the global mine ventilation market.

The main objective of the Global Mine Ventilation Market Study

The current & future market trends of global mine ventilation market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of mine ventilation market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of offering and technique.
• Define and analysis of the regulatory framework for the mine ventilation market industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the mine ventilation market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
• Company profiles of the Mine Ventilation market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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