Mine Ventilation Technology Importance and Market Growth Overview – Reports and Data
The global mine ventilation market size is expected to reach USD 475.2 Million in 2028 and register a CAGR of 3.8% over the forecast period, according to the latest report by Reports and Data. Increasing awareness regarding safety & health of workers present in mines, rising need to optimize & maintain quality of airflow in mines, surging demand for metals, and increasing number of infrastructure development projects are major factors driving market revenue growth.
Mine ventilation is a process of supplying fresh air to underground areas to remove and dilute toxic gases & dust. Airflow in underground mines ensures a healthy working environment and increased productivity. Through-flow systems, homotropal, antitropial ventilation systems, and ascensional & descensional ventilation systems are some major types of mine ventilation systems. Regulators and ventilation fans are used to control the airflow, while through-flow allows air to enter from surface through shafts or ventilation raise. Air within the mine is circulated through internal ventilation.
There are usually two types of ventilation techniques such as underground and surface ventilation. Underground segment accounted for the largest revenue share of global mine ventilation market in 2020. Increasing number of underground mining activities and rising demand for underground minerals and ores are expected to drive growth of this segment in the near future.
Some Key Highlights From the Report:
- In May 2021, Howden re-entered secondary ventilation market of Australia by launching Jetstream AX secondary fans, its latest product providing high durability, smarts, and energy efficiency to help future-proof underground mines. These fans have a flexible modular design, range from 762-1,600 mm in diameter, has flow rates from 6.5-108 cu.m/sec, possess an anti-stall chamber for continued safe operation, and adjustable pitch aerofoil blades for maximizing operational envelope.
- Equipment segment is expected to register a faster revenue CAGR over the forecast period. High demand for ventilation equipment such as fans, heaters, and coolers, as well as rising concerns regarding miners’ safety are factors expected to drive growth of this segment in the forthcoming years.
- North America is expected to register significantly fast revenue growth over the forecast period. Increasing number of mining projects and rising concerns about health & safety of workers are major factors driving revenue growth of the market in this region.
- Companies profiled in the global market report include Epiroc, Philips Healthcare, Howden, Stantec, Twin City Fan, ABC Industries, Chicago Blowers, DMT, TLT Turbo, and New York Blower Company.
Power and energy industry comprises of key companies operating in fuel, petroleum, natural gas, and nuclear power markets. Constant production of energy and power is imperative for country’s economic growth. It also covers exploration and production of oil and gas reserves, oil and gas drilling, and refining industries. Power and energy sector is one of the most diversified sector across the globe. Rapid industrialization and urbanization has increased the dependency on power and energy and industries today consume large amounts of fuel making energy industry a crucial element of today’s industrial infrastructure.
With increasing focus on sustainable energy and alternative sources of energy to mitigate global warming, countries today are heavily investing in hydroelectric power, solar power, and wind energy. Widespread demand for energy and power has led to the emergence of lucrative growth opportunities in the market and accelerated revenue growth of the retail energy markets. However, negative environmental impact of prolonged use of fossil fuels, depletion of energy resources, and increasing amount of pollutants in the atmosphere are some key restraining factors. Increasing automation in power and energy industry, integration of advanced technology like AI, growing focus on hybrid and electric vehicles, and increasing emphasis on improve energy variability and costs for residential and commercial buildings and vehicles are set to open new paths for the growth of the energy and power sector.
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