all report title image
  • Published On : Sep 2022
  • Code : CMI3854
  • Industry : Energy
  • Pages : 120
  • Formats :

Flare gas recovery systems are used across the refinery industry for safety and maintenance reasons as the release of unburned gas leads to increase in carbon emissions. In order to curb these emission flare systems are installed across refinery as they efficiently prevent the release of unburned gases. 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. Refineries, gas processing plants and gas production plants are some of the major end-users of flare gas recovery systems.

Global flare gas recovery systems market was valued at US$ 3.4 Billion in 2021 in terms of revenue, exhibiting a CAGR of 7.5% during the forecast period (2022 to 2030).

Drivers

Rising need to reduce carbon emissions has boosted the adoption of flare gas recovery systems across refineries which is expected to augment the market growth of flare gas recovery systems. Flare gas recovery systems capture the unburned gas released from the production facilities and use captured gas for reinjection into the production well for power generation.

Increasing demand for flare system from oil &gas industry as these systems offer reuse of energy option is expected to stimulate the market growth. 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 a flare gas recovery system. This factor is expected to augment the market growth over the forecast period.

In 2020, the unprecedented COVID-19 outbreak suspended all industrial activities and delayed several oil and gas projects to an extent. Market also saw a significant dip in sales of flare gas recovery systems 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 forecast period.

Among region, North America dominated the global flare gas recovery systems market in 2021, reporting 33% market share in terms of revenue, followed by Europe and Asia Pacific, respectively

Figure 1. Global Flare Gas Recovery Systems Market Value Share (%), By Region, 2021

Flare Gas Recovery Systems  | Coherent Market Insights

Market Restraints

High capital investment of the flare gas recovery system as the marketing of a system includes design, production, installation and test run which increases the overall cost of the system. This factor is expected to restrict the adoption of a flare gas recovery system over the forecast period.

Lack of clarity regarding return on investment across the oil & gas industry has hampered demand for flare system as manufacturers consider it uneconomical to install. This is expected to hinder the market growth of flare gas recovery system.

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Flare Gas Recovery Systems Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 3.4 Bn
Historical Data for: 2017-2020 Forecast Period: 2022
Forecast Period 2022 to 2030 CAGR: 7.5% Forecast Period: 2022-2030
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Capacity: Small, Medium, Large, Very Large
  • By Application: Petroleum Refineries, Chemical Plants, Gas Treatment and NGL Plants, FPSO Platforms, Storage Tank Vent Recovery
Companies covered:

UOP-A Honeywell Company, Wärtsilä Hamworthy, MPR Industries PLC, John Zink Company LLC, Zeeco Europe and Zeeco India, Gardener Denver, and Ro-Flo Compressors

Growth Drivers:
  • Rising need to reduce carbon emissions
  • Increasing demand for flare gas recovery system from oil &gas industry as these systems offer reuse of energy option
Restraints & Challenges:
  • High capital investment of the flare gas recovery system as the marketing of a system includes design, production, installation and test run

Market Opportunities

Increasing focus of manufacturers to offer flare gas recovery system packages which include aftermarket, installation, and post-sales service is expected to provide potential growth opportunities to market. High demand for small and medium capacity of the flare gas recovery system since they are easy to install is further anticipated to foster the market growth of flare gas recovery systems over the forecast period.

Emerging economies coupled with the increasing per capita of the consumers is expected to fuel the market growth of flare gas recovery systems. Growing corporate social responsibility towards carbon emissions is expected to augment the market growth over the forecast period. Moreover, growing strict government regulations regarding the installation of a flare system in response to demand for environmental sustainability is expected to accelerate the market growth.

Figure 2. Global Flare Gas Recovery Systems Market Value Share (%), By Capacity, 2021

Flare Gas Recovery Systems  | Coherent Market Insights

On the basis of capacity, very large dominated the global flare gas recovery systems market in 2021 with around 44% of market share in terms of revenue, followed by large and medium, respectively

Recent Developments

  • In 2020, Zeeco, Inc., a designer and manufacturer of advanced combustion and environmental solutions, announced that Saudi Aramco granted 9COM approval to Zeeco for a variety of combustion equipment manufactured at the Zeeco Middle East, Ltd. facility in Dammam.
  • In 2018, Busch Vacuum Pumps and Systems, a manufacturer of vacuum pumps, blowers, compressors and systems announced that the Switzerland-based engineering company NSB Gas Processing was now part of its group. NSB Gas Processing has been renamed Busch NSB AG. Busch NSB product portfolio offers a wide range of flare gas recovery systems, a sub-sector of the oil and gas industry.

Competitive Section

Major players operating in the global flare gas recovery systems market include UOP-A Honeywell Company, Wärtsilä Hamworthy, MPR Industries PLC, John Zink Company LLC, Zeeco Europe and Zeeco India, Gardener Denver, and Ro-Flo Compressors.

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:

  • This report provides an in-depth analysis of global flare gas recovery systems market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global flare gas recovery systems market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include UOP-A Honeywell Company, Wärtsilä Hamworthy, MPR Industries PLC, John Zink Company LLC, Zeeco Europe and Zeeco India, Gardener Denver, and Ro-Flo Compressors.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global flare gas recovery systems market report caters to various stakeholders in this industry including investors, suppliers, baby daipers service providers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global flare gas recovery systems market

Detailed Segmentation:

  • Global Flare Gas Recovery Systems Market, By Capacity:
    • Small
    • Medium
    • Large
    • Very Large
  • Global Flare Gas Recovery Systems Market, By Application:
    • Petroleum Refineries
    • Chemical Plants
    • Gas Treatment and NGL Plants
    • FPSO Platforms
    • Storage Tank Vent Recovery
  •  Global Flare Gas Recovery Systems Market, By Region:
    • North America
      • By Country:
        • U.S
        • Canada
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country:
        • Germany
        • U.K
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East & Africa
      • By Country/Region:
        • Middle East
        • Africa
  • Company Profiles
    • UOP-A Honeywell Company
      • Company Overview
      • Product Portfolio
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Wärtsilä Hamworthy
    • MPR Industries PLC
    • John Zink Company LLC
    • Zeeco Europe and Zeeco India
    • Gardener Denver
    • Ro-Flo Compressors

“*” marked represents similar segmentation in other categories in the respective section

Frequently Asked Questions

Global flare gas recovery systems market was valued at around US$ 3.4 Billion in 2021.
Increasing demand for flare gas recovery system from oil & gas industry as these system offers reuse of energy option is mainly driving the market growth.
Increasing focus of manufacturers to offer flare gas recovery system packages which include aftermarket, installation, and post-sales service are expected to provide lucrative opportunities for the market growth of flare gas recovery systems. 
High capital investment of the flare gas recovery system as the marketing of a system includes design, production, installation and test run is expected to restrain the market growth of flare gas recovery systems.
Major players operating in the market include UOP-A Honeywell Company, Wärtsilä Hamworthy, MPR Industries PLC, John Zink Company LLC, Zeeco Europe and Zeeco India, Gardener Denver, and Ro-Flo Compressors.
The market is estimated to grow at around 7.5% CAGR in the forecast period (2022-2030).

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