Flare Monitoring Market Size, Growth, Opportunities, Outlook and Forecast, the key players are Emerson Electric, Endress + Hauser AG, Fluenta AS, Oleumtech Corporation, MKS Instruments, TKH Security Solutions, FLIR Systems Incorporation and Among Others
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.
Several market analysis factors include industry outlook with respect to critical success factors (CSFs), industry dynamics that mainly covers drivers and restraints, market segmentation & value chain analysis, key opportunities, application and technology outlook, regional or geographical insight, country-level analysis, key company profiles, competitive landscape, and company market share analysis. This market research report is a resource that makes available current as well as upcoming technical and financial details of the industry to 2025. Flare Monitoring Market is of huge importance in many aspects for better understanding of the market which lead to sky-scraping business growth.
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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.
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.
Global Flare Monitoring Market Segmentation:
The flare monitoring market is segmented into two notable segments which are mounting methods, industry and geography
• On the basis of mounting method, the market is segmented into in-process and remote. In 2018, remote segment is growing at the CAGR and expected to reach USD in the forecast period of 2018 to 2025.
o Honeywell International Corporation and TKH Security Solutions are few of the company that provides product for remote monitoring
• On the basis of industry, the market is segmented into Onshore Oil & Gas Production Sites, Refineries, Petrochemical, Landfills, Offshore & Metal and Steel Production. In 2018, Offshore & Onshore Oil & Gas Production Sites segment is growing at the highest CAGR and expected to reach USD in the forecast period of 2018 to 2025.
o AMETEK Incorporation and Siemens AG are few of the companies that provides flare monitoring products to refineries industry.
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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.
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
2. Market Segmentation
3. Market Overview
4. Executive Summary
5. Premium Insights
6. Global, By Component
7. Product Type
9. Industry Type
10.2. North America
10.5. South America
10.6. Middle East & Africa
11. Company Landscape
12. Company Profiles
13. Related Reports
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