Flare Monitoring Market Report By Type (In-Process, and Remote), By Application (Refineries, Oil & Gas Production Sites, and Petrochemicals) and Region - Forecast Till 2025

Market Research Future (MRFR’s) latest study reveals that the global flare monitoring market will grow at a compound annual growth rate of 7.83% during the forecast period (2018-2025).

Flare monitoring is an important aspect of operating oil and gas facilities. Flare monitoring devices are installed to monitor the fluctuations in the stack flame and spot abnormalities, if any. Modern flare monitoring devices come with visual cameras and advanced infrared systems. They are capable of non-contact monitoring using thermal imaging and pyrometry that are specifically designed for the continuous monitoring of emissions.

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Use of flare monitoring in petrochemicals industry, chemical process plants, gas distribution infrastructure, refineries, and oil & gas production sites is widespread. The oil & gas sector strives for efficiency and reliability, which creates application opportunities for surveillance system and security solutions.

Competitive Landscape:

Some of the leading companies operating in the global flare monitoring market are ABB, Thermo Fisher Scientific Inc., Siemens AG, Honeywell International Inc. AMETEK.Inc., Zeeco, Inc., FLIR Systems Inc., LumaSense Technologies, Inc., Fluenta AS., Williamson Corporation, Extrel CMS, LLC and Providence Photonics, LLC. among others.

Flare Monitoring Industry Segmental Analysis:

MRFR’s study includes a thorough segmental analysis of the market based on type application and region.

On the basis of application, the market has been segmented into refineries, oil & gas production sites, and petrochemicals. The oil & gas production sites segment currently accounts for major share of the market.

On the basis of type, the market has been segmented into In-process and remote. The In-process segment in further sub-segment into mass spectrometers, gas chromatographs, gas analyzers. The remote segment is further sub-segmented in remote-IR imagers and MSIR imagers.

Flare Monitoring Market Regional Outlook:

In the report, the market has been covered across regions such as North America, Europe, Asia Pacific, the Middle East & Africa (MEA), and Latin America.

North America accounted for largest share in the flare monitoring market in 2017. The region is expected to remain a key market for flare monitoring during the forecast period. The market in North America is entering a maturity phase and undergoing technological and structural transformation. North America is followed by Europe and Asia-Pacific. The Europe flare monitoring market is currently valued at over USD 150 Mn and projected to surge at a healthy growth rate over the next couple of years. Meanwhile, the market in APAC is expected to surpass a valuation of USD 200 Mn by the year 2025, reflecting a CAGR of 8.06%. There has been a rapid expansion of the facilities in the upstream oil and gas sector in the region, which is likely to provide the business opportunities in the market in APAC region.

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List Of Figures

Figure 1 Market Synopsis

Figure 2 Market Attractiveness Analysis: Global Flare Monitoring Market, 2017

Figure 3 Global Flare Monitoring Market Analysis By Type

Figure 4 Global Flare Monitoring Market Analysis By Application

Figure 5 Global Flare Monitoring Market Analysis By Region

Figure 6 Global Flare Monitoring Market: Market Structure

Figure 7 Key Buying Criteria Of Flare Monitoring

Continued….

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This release was published on openPR.