Press release
Flare Gas Recovery System Market is Estimating it to Reach US$ 2,019.5 Mn by 2020
Click to View Complete Report @ https://www.futuremarketinsights.com/reports/global-flare-gas-recovery-system-market
Global flare gas recovery system (FGRS) market is driven by factors such as government regulations, environmental pollution concerns and secure energy supply. However, factors such as low degree of awareness among the end user industries, high capital cost, and elongated design and time spends for installation are expected to hamper the market growth during the forecast period. However, shifting focus towards clean energy production is expected to drive the growth of global flare gas recovery systems market between 2014 and 2020.
Region-wise, Western Europe has been the forerunner in FGRS installations in the recent past due to stringent norms set for achieving 2020 carbon reduction targets. North America represents high volume as well as value opportunity for flare gas recovery system and component manufacturers amid growing unconventional resources exploration.
In terms of volume and value, North America region is projected to maintain its prominent share of 32.3% and 32.7% respectively. Furthermore, matured economies such as Europe and North America together command predominant share of market value by 66.7% and are collectively projected to grow at 12.4%. South America and Asia Pacific are also anticipated to show high growth at a CAGR of 17.1% and 16.7% respectively during the forecast period.
Other rich natural gas reserves regions such as the Middle East & North Africa and Eurasia are anticipated to demonstrate a slightly sluggish growth by 2020 due to high capital cost of systems, extended payback period, and less clarity over return on investment.
Key players in the global flare gas recovery systems market are Zeeco, Gardner Denver Nash, and John Zink Hamworthy Combustion.
Report Overview, with TOC @ https://www.futuremarketinsights.com/reports/global-flare-gas-recovery-system-market/toc
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