Ventilation is the control of air amount, its direction and movement. The lack of proper ventilation, often, will cause decreased productivity and lower worker efficiency, increased absenteeism and accident rates. A mine ventilation system is used for the circulation of adequate quality and quantity of air in mines.
These systems include airways, fans and control devices to restrict or direct air flow, filter the air and systems for monitoring air quantity and quality. Mine ventilation systems are more commonly used in closed mines than open mines.
Mine Ventilation System Market: Drivers
The increasing demand for minerals globally, combined with stabilized metal prices, is expected to boost the mining industry in the coming years, which in turn is expected to drive the growth of the mine ventilation system market over the forecast period.
Moreover, substantial investments have been made, especially in Eastern Europe, for the expansion of the mining sector. Additionally, Russia has been a prime region of focus for investors as the country has vast reserves for the abstraction of several kinds of minerals.
This, in turn, is anticipated to surge the demand for mine ventilation systems in the coming years. That apart, without the use of mine ventilation systems, machinery could be damaged, operatives could be exposed to dangerous hazards and operational activity could suffer.
This is also expected to increase the demand for mine ventilation systems over the forecast period. Furthermore, the increasing demand for mine ventilation systems from the cement industry is also projected to also drive the growth of the market in the coming years.
The low requirement of replacement of mine ventilation systems, owing to their high cost and long life, is anticipated to be a key factor restraining the growth of the mine ventilation system market over the forecast period.
Players in the mine ventilation system market focus on research and development activities for technological advancement, which is a significant trend projected to gain traction over the forecast period. Moreover, ventilation on demand is also anticipated to gain traction in the mine ventilation system market in the coming years.
The global mine ventilation system market is directly dependent on the growth of mining and construction sectors, globally. Over the forecast period, mine ventilation systems are expected to witness significant growth in demand from the Asia Pacific region.
China is estimated to account for a prominent share in the global mine ventilation system market, owing to the presence of a vast number of mines in the country, coupled with the growing construction sector. The market in North America is predicted to grow at a healthy CAGR over the forecast period, due to increasing demand for mine ventilation systems from the growing construction and mining sectors in the region.
Governments and mining companies in countries, such as Mozambique, Mauritania, and South Africa, among others, are expected to focus on unexplored and untapped investment opportunities for the mining of mineral resources to drive economic growth.
Examples of some of the market participants identified across the value chain of the global mine ventilation system market include ABC Industries Inc., Airolite S.A, Ambitec S.A, Chicago Blower Argentina S.A, Continental Fan Manufacturing Inc., Darco Southern, Inc., Hubei Pingan Electric Material, Liang Herng Elec Mach, Shanxi Coal Ke Wan Yu Fan and Shenzhen Ambeyond Technology, among others.
The mine ventilation system report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The mine ventilation system report provides analysis and information according to market segments such as design, component, region and end-user.
The mine ventilation system report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The mine ventilation system report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global mine ventilation system market can be segmented on the basis of design, component, and end-user.
On the basis of design, the global mine ventilation system market can be segmented as:
On the basis of component, the global mine ventilation system market can be segmented as:
On the basis of end-user, the global mine ventilation system market can be segmented as:
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Mine Ventilation System Market
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