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Flare Monitoring Market Comprehensive Study 2018- 2025: ABB, Ametek Incorporation, Eaton Hernis Scan Systems, Emerson Electric, Endress + Hauser AG, Fluenta AS, Oleumtech Corporation, MKS Instruments, TKH Security Solutions, FLIR Systems Incorporation and

03-01-2019 06:29 AM CET | IT, New Media & Software

Press release from: Data Bridge Market Research

Global Flare Monitoring Market

Global Flare Monitoring Market

Global Flare Monitoring Market is expected to reach million by 2025 and is projected to register at a CAGR of 7.9 % in the forecast period of 2018 to 2025.

The raise in the air pollution has turned into the fourth most hazardous factor causing unexpected deaths which has compelled many regional governments to take further initiatives in order to control this issue. According to the World Health Organization (WHO), more than 12.5 million people die from environmental health risks annually that have subsequently raised the need for installing flare monitoring systems.

The consumption of crude oil in these developing countries, particularly in India is expected to increase from 221.6 metric ton to 500 metric ton by 2040. Whereas Brazil consumed one metric ton more Crude oil from last year i.e. 2016.

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Expansion of Oil & Gas and Petrochemical Industries

In recent years, Oil and Gas Industry has started the usage of unconventional gas sources instead of conventional gas sources. By moving towards unconventional gas source, the Oil and Gas Industry can reduce the reliance on conventional gas sources that further reduces its carbon footprint, thereby ensuring healthy environmental conditions across the globe. Adoption of latest technologies such as Quasar 2 (It is high-resolution optical system which can monitor flare from 400meters) and increased usage of advanced equipment is spurring the global Oil and Gas Industry that is also supplementing the global flare monitoring market and Flare Section offers operation remotely, automatically and shows the difference in heat signatures of the flare.

As per of instance around 140 to 170 billion cubic meters of gases are flared or vented every year which is one fourth of the US gas consumption or around 25 to 30% of the European Union’s gas usage every year. Hence, the rapid expansion of oil & gas industry, petrochemical industries and latest technologies are significantly contributing the global market growth.

ABB:

Founded in 1988 with the merger of ASEA (found in 1883) and Brown, Boveri &Cie (founded in 1891) and headquartered in Zurich, Switzerland. ABB is engaged in the providing solutions based on technology to customers in industry & transportation sector and infrastructure to all over the globe. The number of employees is around 135,000. The revenue of the company in 2017 was USD 34,312 Million. The business segments in which company operates are Electrification Products, Robotics and Motion, Power Grids and others. It offers 40CFR60 subpart Ja-Total Sulfur Measurements, 40CFR60 subpart Ja-Hydrogen Sulfide Measurements and 40CFR60.18-Net Heating Value. ABB has presence in over 100 countries.

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The flare monitoring is used to monitor the characteristics of the flare out of the flames from industrial sector and also to restore the gases for environment prevention, for cost saving which can be reused and also helps in maintaining the standardized gases footprints according to the Environmental Protection Agency (EPA). Flares are organic compounds and toxic emission sources to environment. To operate within the allocated flare limits, an industry requires flare management plan and continuous parameter monitoring system. It protects from the premature replacement of machinery and parts reduce lubricant consumption and helps in the generation of less waste. It is used in oil& gas, chemical, petrochemical & refineries applications.

Product Launch:

In January, Endress + Hauser AG launched Micropilot NMR81, which is used for measuring the liquid gauge more than 80 GHz.

In March, Fluenta AS launched UFM manager software for maintenance to be carried out easily by the ground staff engineers.

In July, MKS Instruments launched etch sensor for Baratron Capacitance Manometer product, fluoride is used for delivering for atomic application.

In June, Oleumtech Corporation has launched another point- to- point wireless I/O solution named RM4, to control the system remotely.

In November, TKH Security Solutions launched Automatic Flare Stack monitoring system, which can be used in marine and oil & gas industries.

In October, FLIR Systems Incorporation launched black hornet vehicle reconnaissance system enabling the warfighter to maintain the circumstantial awareness. It also provides real time data

Table of Contents

1. Introduction

2. Market Segmentation

3. Market Overview

4. Executive Summary

5. Premium Insights

6. Global, By Component

7. Product Type

8. Delivery

9. Industry Type

10. Geography

10.1. Overview
10.2. North America
10.3. Europe
10.4. Asia-Pacific
10.5. South America
10.6. Middle East & Africa

11. Company Landscape

12. Company Profiles

13. Related Reports

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About Data Bridge Market Research:

Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.

Contact:

Data Bridge Market Research
Tel: +1-888-387-2818
Email: sopan.gedam@databridgemarketresearch.com

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