Dublin, Jan. 10, 2020 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The mine ventilation market was valued at USD 314 million in 2018 and is projected to reach USD 401 million by 2024; it is expected to grow at a CAGR of 4.3% from 2019 to 2024.
The key players in the market include ABB (Switzerland), Epiroc (Sweden), Howden (UK), Stantec (Canada), Twin City Fan (US), ABC Industries (US), Chicago Blowers (US), DMT (Germany), TLT Turbo (Germany), and New York Blower Company (US).
Mine ventilation market to exhibit significant growth during 2019-2024
The key factors driving the growth of the market include the requirement for optimized and quality airflow in mines and a rise in number of infrastructure development projects. However, depletion of natural resources and electrification of mine equipment and machinery is restraining the market growth.
Equipment to lead overall mine ventilation market during forecast period
Productivity and safety are the main priorities of any mine operator. Equipment such as fans, air coolers, and heaters are contributing to the growth of the market. These equipment are used in mines for maintaining safe and comfortable working conditions for the miners.
Underground mining market to grow at highest CAGR during forecast period
An underground mining technique is used to extract the mineral and ore deposits, which are buried deep under the earth's crust. The primary objective of operating an underground mine is to extract the maximum amount of ore with a minimum tailing. However, underground mining is considered more dangerous than surface mining due to potential dangers such as the adverse health effects, collapse, and the release of toxic gases and the lack of proper ventilation, which results in suffocation. Thus, mine ventilation systems are required to provide a flow of air to the underground workings of a mine in sufficient volume to dilute and remove dust and noxious gases; and regulate temperature.
Asia Pacific to be largest and fastest-growing mine ventilation market during forecast period
The region has abundant natural reserves in the form of iron ore, copper, gold, silver, zinc, and magnesium. Australia, China, and India are the major countries wherein mining is done. The region has witnessed growth in mining operations due to increasing demand for raw materials from various manufacturing industries. With the growing mining operations, the mine operating companies have increased demand for mine ventilation systems in APAC.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Mine Ventilation Market, 2019-2024 (USD Million)
4.2 Market, By Offering
4.3 Mine Ventilation Equipment Market, By Type
4.4 Market, By Technique and Region
4.5 Market, By Geography
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.3 Drivers
5.3.1.1 Requirement for Optimized and Quality Airflow in Mines
5.3.1.2 Rise in Number of Infrastructure Development Projects
5.4 Restraints
5.4.1.1 Depletion of Natural Resources
5.4.1.2 Electrification of Mine Equipment and Machinery
5.5 Opportunities
5.5.1.1 Rise in Number of Planned Mining Activities Worldwide
5.7 Challenges
5.7.1.1 Revised Trade Agreements and Continuous Changes in Environmental Regulations That Impact Mining Industry Globally
5.7.1.2 High Operational Costs Mine Ventilation Systems
5.8 Value Chain Analysis
6 Mine Ventilation Market, By Equipment
6.1 Introduction
6.2 Equipment
6.2.1 Safe and Comfortable Working Conditions for Miners Require Efficient Mine Ventilation Equipment
6.2.2 Ventilation
6.2.2.1 Ventilation Equipment to Grow at the Highest CAGR During Forecast Period
6.2.2.2 Fans
6.2.2.3 Compressors
6.2.2.4 Blowers
6.2.3 Cooling
6.2.3.1 Air Coolers Market to Grow at Highest Rate Between 2019 and 2024
6.2.3.2 Air Coolers
6.2.3.3 Refrigerating Units
6.2.4 Heating
6.2.4.1 Heater to Hold Largest Share of Heating Equipment Market
6.2.4.2 Heaters
6.2.4.3 Heat Exchangers
6.3 Software
6.3.1 Software Help to Accurately Model Ventilation System and Improve Safety and Efficiency of Mines
6.4 Services
6.4.1 Services to Grow at the Highest Rate During Forecast Period
7 Mine Ventilation Market, By Technique
7.1 Introduction
7.2 Underground Mining
7.2.1 Underground Mining Segment Projected to Lead Market From 2019 to 2024
7.3 Surface Mining
7.3.1 Services Segment of Market for Surface Mining Projected to Grow at the Highest CAGR From 2019 to 2024
8 Geographic Analysis
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 Increasing Mining Activities to Grow the Market in US
8.2.2 Canada
8.2.2.1 Increasing Mining Operations to Grow Demand for Mine Ventilation in Canada
8.2.3 Mexico
8.2.3.1 Rising Foreign Direct Investments in Mining Industry to Upsurge Demand for Mine Ventilation Systems in Mexico
8.3 Europe
8.3.1 Russia
8.3.1.1 New Discoveries for Deposits of Gold to Boost the Mining Industry in Russia
8.3.2 Germany
8.3.2.1 New Partnerships in Mining Industry to Boost the Market
8.3.3 Norway
8.3.3.1 Upcoming Mining Activities to Boost the Market
8.3.4 Rest of Europe
8.3.4.1 Increased Mining Activities in the Region to Grow the Market for Mine Ventilation
8.4 Asia Pacific
8.4.1 China
8.4.1.1 China to Be Leading Market in APAC Mine Ventilation Market
8.4.2 Australia
8.4.2.1 Upcoming Mining Activities to Boost the Market in Australia
8.4.3 India
8.4.3.1 Growing Mining Activities to Create Demand for Mine Ventilation in India
8.4.4 Rest of APAC
8.4.4.1 Growing Mining Industry in Indonesia to Drive the Market for Mine Ventilation
8.5 RoW
8.5.1 South America
8.5.1.1 Increasing Mining Investments in South America to Grow Demand for Market
8.5.2 Middle East
8.5.2.1 Metal Production Projects to Drive the Market in Middle East
8.5.3 Africa
8.5.3.1 Mining Opportunities to Drive the Market for Mine Ventilation
9 Competitive Landscape
9.1 Overview
9.2 Ranking of Players in Market
9.3 Microquadrants Overview
9.3.1 Visionaries
9.3.2 Dynamic Differentiators
9.3.3 Innovators
9.3.4 Emerging Companies
9.5 Competitive Situations & Trends
9.5.1 Product Launches
10 Company Profiles
10.1 Key Players
10.1.1 ABB
10.1.1.1 Business Overview
10.1.1.2 Products Offered
10.1.1.3 Recent Developments
10.1.1.4 SWOT Analysis
10.1.2 Epiroc
10.1.3 Howden
10.1.4 Stantec
10.1.5 Twin City Fan
10.1.6 ABC Industries
10.1.7 Chicago Blowers
10.1.8 DMT
10.1.9 TLT Turbo
10.1.10 New York Blower Company
10.1.11 Zitron
10.2 Right to Win
10.3 Other Companies
10.3.1 GEFA System
10.3.2 Hurley Ventilation
10.3.3 Sibenergomash
10.3.4 BBE Consulting
10.3.5 Schauenburg Industries
10.3.6 Stiavelli
10.3.7 ABC Ventilation Systems
10.3.8 Clempcorp Australia
10.3.9 Minetek
10.3.10 Zibo Fans
For more information about this report visit https://www.researchandmarkets.com/r/3q4ecw
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.