Flare Gas Recovery Systems Market Currently valued of US$ 3 Bn at exceed an impressive rate

Flare Gas Recovery Systems Market 2022

The global flare gas recovery systems market is predicted to take a leap from US$ 1,087.5 Mn observed in 2017, at exceed an impressive rate. The market will possibly surpass a value of US$ 3 Bn by the end of a five-year forecast period 2017-2022. Dynamic expansion of the oil and gas industry, followed by boosted investments, will continue to fuel the demand for flare gas recovery systems globally.

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The most prominent factor identified to drive consumption of flare gas recovery systems is surging usage by various end-use industries for captive or co-generation of power. This will continue to propel the demand in near future. Increasing environmental concerns about energy utilization and carbon emissions during natural gas production processes are also considered to be the key factor likely to impact positively on the global FGRS market condition. Several environmental organizational guidelines regarding the same will continue to support the market as well.

A number of leading manufacturers will remain major consumers of FGRS for re-injection into production wells, boosting the market growth throughout the forecast period. Increasing implementation of FGRS by leading oil and natural gas companies for the optimum energy-efficiency, will also support the market growth. This corporate social responsibility is expected to strongly influence the demand for FGRS by 2020 end. Adoption in developing countries will witness an uptake during 2015-2020, as producers based in emerging markets are increasingly focusing on carbon emission mitigation.

Relatively lower awareness about the advantages of FGRS implementation may however affect the adoption, Moreover, higher initial costs and time consuming installation process are anticipated to hamper the market growth in the long run.

Key Companies- 

• Zeeco
• John Zink Hamworthy Combustion
• MPR Industries
• UOP Honeywell
• Others

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Based on capacity, the market will witness a shift from small and medium capacity FGRS to large and very large capacity FGRS over the forecast period. Large capacity systems segment is projected for around 12.2% CAGR, whereas very large capacity systems segment is estimated to expand at a CAGR of over 15%. These two segments are predicted to collectively account for over 73% share by value.

By component, compressors segment will continue to attract the maximum revenues to the global market for flare gas recovery systems. Owing to increased sales of liquid ring compressors, due to high performance and low maintenance, the compressors segment is foreseen to generate major revenues by 2020 end.

Based on region, the global market for FGRS is highly concentrated in North America and Europe, especially in the U.S. and Western Europe respectively. North America will however witness the biggest growth opportunities in terms of both value and shipment, accounting for over US$ 661 Mn by 2020 end. This growth is expected due to rising exploration of unconventional resources in this region and a growing number of component manufacturers. Over the forecast period, developing markets, including APAC and South America will represent significantly growing regions. MEA and Africa are however foreseen to witness sluggish growth.

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Key Questions Answered in Flare Gas Recovery System Market Report -
• What will the Flare Gas Recovery System Market growth rate in Future?
• What are the key factors driving the global Flare Gas Recovery System Market?
• Who are the key manufacturers in Flare Gas Recovery System Market space?
• What are the opportunities and threats faced by the vendors in the global Flare Gas Recovery System industry?
• What are sales, revenue, and price analysis by regions of Flare Gas Recovery System industry?

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