Ventilation is an important factor for the control of air movement, its amount, and direction in mines. Mine ventilation system provides a flow of air of sufficient volume to remove dust and toxic gases such as methane, CO2, SO2, and NOx and regulate the temperature in a mine. The mine ventilation practice is heavily regulated for diluting diesel emissions, blasting fumes, radiation, and dust. A well-designed and properly implemented ventilation system improves workers' health, safety, productivity, and performance.
The global mine ventilation market size is expected to reach USD 401 million by 2024 from USD 326 million in 2019 at a CAGR of 4.3%. The market growth is mainly attributed to the requirement for optimized and quality airflow in mines and a rise in number of infrastructure development projects.
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ABB (Switzerland), Epiroc (Sweden), Howden (UK), Stantec (Canada), and Twin City Fan (US) are the leading players in the mine ventilation market.
ABB (Switzerland) is one of the technology leaders with a comprehensive offering for digital industries. The company operates into three segments, namely, electrification products, industrial automation, and robotics & motion. It engages in serving customers in utilities, industry & transport, and infrastructure, globally. Moreover, the company continually innovates a comprehensive range of products, systems, and services; which increases energy efficiency, reliability, and productivity for industrial, utility, and infrastructure. Furthermore, the company operates in more than 100 countries with a strong customer relationship. It adopted inorganic strategies to continue its growth in the mine ventilation market. For instance, in July 2018, the Famur group, a leading supplier of solutions for the mining industry in Europe, signed an agreement with ABB. Both companies will collaborate in the field of modern solutions and technologies created for polish and external mining sectors.
Epiroc (Sweden) is one of the leading partners for the mining and infrastructure industries. The company operates in seven separate and focused integrated divisions, aggregated into two segments, namely, equipment & service and tools & attachments. The seven divisions are drilling solutions, surface and exploration drilling, underground rock excavation, mining and rock excavation service, rockets, rock drilling tools, and hydraulic attachment tools. The company has manufacturing units located in Sweden, the US, Canada, Germany, China, and India. The company adopted organic strategies to continue its growth in the mine ventilation market. For instance, in February 2019, Epiroc and Mobilaris planned to launch the integration between Serpent Ventilation and Mobilaris Mining Intelligence (MMI), which will help to increase safety and health for operators and improves energy efficiency for an underground tunnel or mine site.
Mine Ventilation Market by Offering (Equipment (Ventilation, Heating, Cooling), Software, and Services), Technique (Underground Mining, Surface Mining), and Region (North America, Europe, APAC, RoW) - Global Forecast to 2024
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