Press release
Global Flame Arrestor Market Comprehensive Study: Forecasted Market Size And Growth Rate | Ermacora Claudio Company, Emerson Electric Company, PROTEGO Braunschweiger Flammenfilter GmbH
Flame Arrestor Market Trends
The Business Research Company offers in-depth market insights through Flame Arrestor Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The flame arrestor market size has grown strongly in recent years. It will grow from $5.13 billion in 2023 to $5.53 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to growth in chemical and petrochemical industries, increased focus on industrial safety regulations, expansion of oil and gas exploration activities, rise in awareness of fire hazards in industrial processes, increasing industrial activities in various countries.
The flame arrestor market size is expected to see strong growth in the next few years. It will grow to $7.5 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to stringent environmental and safety standards, growth in energy and power generation industries, adoption of flame arrestors in emerging economies, increasing use of flame arrestors in renewable energy applications, increasing demand for flame arrestors in the consumer durables industry. Major trends in the forecast period include advances in flame arrestor technology, integration of smart sensors and monitoring systems in flame arrestors, use of corrosion-resistant materials for flame arrestor construction, customization of flame arrestors for specific industrial applications, collaboration between flame arrestor manufacturers and end-users .
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Market Segmentation:
The flame arrestor market covered in this report is segmented -
1) By Type: In-line, End-of-line
2) By Application: Storage Tank, Pipeline, Incinerator, Ventilation System, Other Applications
3) By End-User: Oil and Gas, Chemicals, Pharmaceutical, Mining, Power Generation, Other End Users
Major Driver - Growth Of Flame Arrestor Market Driven By Increased Oil And Gas Exploration Activities
The increase in oil and gas exploration activities is expected to propel the growth of the flame arrestor market going forward. The upstream sector of the oil and gas industry includes exploration activities, including preparation for geological surveys and the acquisition of land rights, and production activities, including onshore and offshore drilling. Flame arrestors are devices that allow gas to pass through but prohibit a flame from igniting, preventing a large fire or explosion as a result of increased production and safety concerns about safe gas transportation operations. For instance, in March 2022, according to a survey report published by S&P Global, a US-based publicly traded corporation, oil and gas exploration activities were up sharply in Q1 with reported increases in production, capital expenditures, employment, and overall operating costs. In addition, nearly 52% of respondents reported an increase in oil production, along with 47% reporting an increase in natural gas production during the first quarter of 2022. Therefore, the increasing oil and gas exploration activities are driving the growth of the flame arrestor market.
Competitive Landscape:
Major companies operating in the flame arrestor market report are Ermacora Claudio Company, Emerson Electric Company, PROTEGO Braunschweiger Flammenfilter GmbH, L&J Technologies, Morrison Brothers Co., Tornado Combustion Technologies Inc., Motherwell Tank Protection Ltd., Protectoseal Ltd., ERGIL Group, Westech Industrial Ltd., Protego India Pvt. Ltd., Elmac Technologies Ltd., Flammer GmbH, D-Ktc Fluid Control SRL, Sunflow Technologies, WITT-Gasetechnik GmbH & Co. KG, Essex Industries Inc., Groth Corporation, BS&B Safety Systems Ltd., Pentair plc, RICO Sicherheitstechnik AG, Rupture Pin Technology Inc., Shand & Jurs, Taylor Valve Technology Inc., Thuba Ltd., Varec Inc., Vent-Tech Ltd., Zook Enterprises LLC, Elster Kromschroeder AG, KITO Armaturen SA, Lisk AG
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Top Trend - New Product Innovations Drive Flame Arrestor Market Growth
New product innovations have emerged as a key trend gaining popularity in the flame arrestor market. Major companies operating in the flame arrestor sector are focused on developing new product innovations to strengthen their position. For instance, in August 2022, G.W. Lisk Company Inc., a US-based manufacturer and supplier of solenoid valves, launched ATEX (Equipment for potentially explosive atmospheres), IECEx (International Electrotechnical Commission Explosive) and UL/ULC certified in line deflagration flame arrestor series. Oil and gas installations up to 4 inches in Class 1: Div 1 (Zone 0,1) and Div 2 (Zone 2) are suitable for using this series. Built with the highest safety and field performance in mind, the flame arrestors minimize flow channel obstructions while providing structural durability.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Flame Arrestor Market Characteristics
3. Flame Arrestor Market Trends And Strategies
4. Flame Arrestor Market - Macro Economic Scenario
5. Flame Arrestor Market Size And Growth
…..
27. Flame Arrestor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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