The global flare gas recovery systems market is projected to surpass US$ 4.5 billion by the end of 2027, in terms of revenue, growing at CAGR of 13.8% during the forecast period (2020 to 2027)

Regionally, North America dominated the global flare gas recovery systems market in 2019, reporting 33% market share in terms of revenue, followed by Europe and Asia-pacific, respectively.

Flare gas recovery systems are used across the refinery industry for safety and maintenance reasons as the release of unburned gas leads to increase in carbon emissions. In order to curb these emission flare systems are installed across refinery as they efficiently prevent the release of unburned gases. Flare system is required for safe and effective operational purpose and every hydrocarbon processing industry has a flare system in order to burn the vent gases before they enter into the atmosphere. The refinery, gas processing plants and gas production plants are some of the major end-user of the flare gas recovery systems.

This report provides in-depth analysis of global flare gas recovery systems market size (US$ Billion and Units), and Compound Annual Growth Rate (CAGR %) for the forecast period (2020 – 2027), considering 2019 as the base year.It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players.

Major Players Covered in Keyword Report are:
UOP-A Honeywell Company, Wärtsilä Hamworthy, MPR Industries PLC, John Zink Company LLC, Zeeco Europe and Zeeco India, Gardener Denver, and Ro-Flo Compressors

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It profiles leading players in the global flare gas recovery systems market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding their future product launches, Product Type up-gradation, market expansion, and marketing tactics.The global flare gas recovery systems market report caters to various stakeholders in this industry including investors, suppliers, global flare gas recovery systems manufacturers, distributors, new entrants, and financial analysts.

This Report Split Global Into Several Key Regions, Revenue (Million USD) The Geography -

• North America [United States, Canada, Mexico]
• South America [Brazil, Argentina, Columbia, Chile, Peru]
• Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
• Middle East & Africa [GCC, North Africa, South Africa]
• Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]

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Drivers
Rising need to reduce carbon emissions has boosted to the adoption of flare gas recovery across refineries which is expected to augment the market growth of flare gas recovery systems. Flare gas recovery systems capture the unburned gas released from the production facilities and use captured gas for reinjection into the production well for power generation. Thus, rising concern over carbon emissions is expected to fuel market growth.

Market Restraints
High capital investment of the system as the marketing of a system includes design, production, installation and test run which increase the overall cost of the system. This factor is expected to restrict the adoption of a flare gas recovery system over the forecast period.

Market Opportunities
Increasing focus of manufacturers to offer flare gas recovery system packages which include aftermarket, installation, and post-sales service is expected to provide potential growth opportunities to the market. High demand for small and medium capacity of the flare gas recovery system since they are easy to install is further anticipated to foster the market growth of flare gas recovery systems over the forecast period.

Market Trends
Increasing natural gas production in order to cater to the rising demand for energy around the globe is expected to foster market growth. According to the International Energy Agency, in 2018, global natural gas production crossed a record of 3937 Billion cubic meters, a 4.0% increase compared to 2017. In fact, natural gas production has been rising since the economic crisis of 2009 with a compound annual growth rate of 2.8%. Thus, the rising production of natural gas will favor market growth.

Flare Gas Recovery Systems Market 2020-2027: Key Highlights

• CAGR of the market during the forecast period 2020-2027
• Detailed information on factors that will assist Flare Gas Recovery Systems Market growth during the next five years
• Estimation of the Flare Gas Recovery Systems Market size
• Predictions on upcoming trends and changes in supplier behavior
• The growth of the Flare Gas Recovery Systems Market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of Flare Gas Recovery Systems Market vendors

The Flare Gas Recovery Systems Market report gets rid of the following queries:

1. Which end use has the highest rate of consumption and why?
2. Which regions are the Flare Gas Recovery Systems Market players targeting to gain a competitive edge?
3. What is the growth forecast of the global Flare Gas Recovery Systems Market in region?
4. What is the Y-o-Y growth rate of the global Flare Gas Recovery Systems Market?
5. Which segment will have the maximum share of the global Flare Gas Recovery Systems Market by the end of Year?

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