Flare gas recovery systems are required for safety and operational application. Flare gas recovery systems are essential for hydrocarbon processing industry for continuous and efficient combustion of the vent gases before safe discharge to atmosphere. 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.
Market Dynamics
Global flare gas recovery systems market has witnessed significant growth in recent past years, owing to the steadily increasing demand of oil and gas which has led to rise of production of co-produced gas flared in form of waste by-product. This scenario has led to provide lucrative growth to the global flare gas recovery systems market over the forecast period.
Increasing demand for flare gas recovery system from oil &gas industry as these systems offer reuse of energy option has been a primary factor fueling demand for flare gas recovery systems on a global level. The growing need to reduce energy consumption in the oil &gas industry as this industry is highly energy-intensive is expected to boost demand for flare gas recovery systems. This factor is expected to augment the market growth over the forecast period.
Major players in the global flare gas recovery systems market are increasing their investment on innovative product launches, research & development, and marketing & promotional activities to capitalize on emerging trends various end-user industries such as Electronics, Petrochemical, Agrochemicals manufacturing, Pharmaceuticals, Paints & coatings and others. This scenario is expected to fuel the market growth during the forecast period.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
Table of Contents
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