Global Mine Ventilation Market: Global Opportunity Analysis and Industry Forecast, 2022-2029 Market

Mine ventilation is the process used to supply fresh air to the underground workings of mine so that it will provide the air in sufficient volume to dilute and remove the toxic gases. This system is also used to regulate the temperatures. Underground mining is considered to be dangerous due to the dangers to health because of release of toxic gases. To prevent workers from these hazards mine ventilation system is required. Flow-through ventilation is the main ventilation circuit for the mine. Different equipment such as fans, air coolers, and heaters are used in mine ventilation systems. The mine ventilation industry is expected to grow rapidly during forecast period.

Market scope and structure

COVID-19 scenario analysis:

• The demand for mine ventilation is expected to decrease in the year 2020 due to low demand from mining industry. 
• COVID-19 pandemic has shut-down the production of various products in the mine ventilation industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of global mine ventilation market significantly from last few months, as is likely to continue during 2020.
• COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year. 
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of corona virus, thereby halting the demand for equipment and machinery.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The increasing demand for minerals as well as the stabilization of price of metals in coming years, is expected to boost the Mining industry, thereby driving the growth of the mine ventilation system market. However, due to the high cost of mine ventilation system, the adoption of mine ventilation system is low. Further the life of mine ventilation system is high therefore the replacement rate is low. 

Driver for mine ventilation market:

Increasing demand for minerals globally

The increase in the demand for minerals and the strength of metals is attracting investors to invest in the mining sector. There is an increase in the mining industry worldwide. The Indian government is launched natural mining policy in March 2019 to attract more investors. Mitsubishi want to invest in a new copper project in Peru. Investors also look to Russia as the primary region to focus on investing their money as the country has large sources of different minerals. This will be considered an important factor for growth.

If Mine ventilation systems are not used, there could be various health effects on workers and machinery could be damaged therefore operational activity could suffer. Hence demand for mine ventilation systems will increase.

Restraints for mine ventilation market:

High cost of equipment

Various equipment are used in mine ventilation system such as heat exchanger, blowers and fans. Therefore the price of the total mine ventilation system increases, thereby restraining the companies to adopt the mine ventilation system. Further the maintenance of these equipment is also high. 

Trends in mine ventilation market:

Key players in mine ventilation system market focuses on various R&D activities for the use of better technology, which is an important trend projected to gain traction in coming years. Also, ventilation on demand is expected to gain more traction in future.

Technology used in mine ventilation system:

There are various companies in mine ventilation system market. As the technology is the need of today’s world, companies are adopting new technologies in mine ventilation system. Some of the technologies are:

• Ventilation on demand: Ventilation on Demand (VOD) is a major breakthrough in underground mining projects. VODsystems use a series of sensors distributed throughout the mine that send real-time information about air quality, vehicle usage, and personnel to a centralized computer with specialized software. This is a technology program, combined with adjustable fan controls and it creates a powerful flexible air intake system saving significant energy while maintaining air quality standards. VOD programs worked successfully mining operations in Ontario and throughout Canada leading to reduced footprint and high energy savings costs.
• Thermal management: Underground mining operations rely on ventilation systems to ensure adequate heating and cooling throughout seasonal conditions. In a normal heat exchange, heat or cold is captured and stored. Heat shock can eliminate or reduce the need for machinery that results in significant cost savings. The Vale's Creighton mine uses an ice cavern system and is a model for Ontario's warm air.
• Air Minerals for Deep Minerals: The introduction of digital sensors capable of spatial adjustment allows for safe underground mining nature. Air-conditioned stations are more likely to be replaced than time-consuming Underground revenge. This allows less downtime and improved productivity while ensuring safety. The air quality stations form an integral part of underground mining projects.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the global mine ventilation industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global mine ventilation market growth scenario.
• The report provides a detailed market analysis based on competitive intensity and how the competition will take shape in coming years. 

 Global Mine Ventilation Market: Global Opportunity Analysis and Industry Forecast, 2020-2027 Report Highlights