Press release
Flare Gas Recovery System Market : Notable Developments & Geographical Outlook - 2031
According to the study, the overall flare gas recovery system market valuation is forecast to top US$ 1.7 Bn by 2031. Compressor technology is expected to remain highly sought-after, and sales of modular flare gas recovery system will increase at a steady pace, exhibiting growth at a 5.7% CAGR in 2021.
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Will the COVID-19 Crisis Hamper Sales of Flare Gas Recovery Systems?
In 2020, the unprecedented COVID-19 outbreak suspended all industrial activities and delayed several oil and gas projects to an extent. The market also saw a significant dip in sales of FGRS within end-use sectors including oil and gas, chemicals, and industrial fuel gas treatment.
However, government initiatives to resume operations in heavy industries to full capacity and resumption of stalled project activities is likely to propel sales of flame gas recovery systems in the forthcoming years.
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Flare Gas Recovery System Market by Category
By Operating Pressure:
Upto 5 bar (small)
5 to 10 bar (medium)
10 to 20 bar (large)
20 to 60 bar ( very large)
By Configuration:
Modular
Skid Mounted
By Technology:
Compressor
Reciprocating
Screw
Liquid Ring
Siding Vane
Ejector Based
By Flow Rate:
Upto 2 MMSCFD
2 to 5 MMSCFD
5 TO 10 MMSCFD
10 TO 20 MMSCFD
20 to 50 MMSCFD
By Application:
Oil & Gas
Petrochemical Refineries
NGL Plants
CNG Refineries
EOR
Pipeline & Syn Gas
FPSO Offshore platforms
Fuel gas conditioning
Chemical Plants
Storage Tanks
Bio Gas & Landfill
Industrial flue gas treatment
Read more: https://www.digitaljournal.com/pr/flare-gas-recovery-system-market-ll-exhibit-a-steady-5-9-cagr-through-2031#ixzz7ncOxrJVP
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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