Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

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. The refinery, gas processing plants and gas production plants are some of the major end-user of the flare gas recovery systems.

The global flare gas recovery systems market is projected to surpass US$ 4.5 billion by the end of 2027, in terms of revenue, growing at CAGR of 13.8% during the forecast period (2020 to 2027).

Drivers

Rising need to reduce carbon emissions has boosted to the adoption of flare gas recovery 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. Thus, rising concern over carbon emissions is expected to fuel market growth.

Increasing demand for flare system from oil &gas industry as these system 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 the demand for a flare gas recovery system. This factor is expected to augment the market growth over the forecast timeframe. 

Regionally, North America dominated the global flare gas recovery systems market in 2019, reporting 33% market share in terms of revenue, followed by Europe and Asia-pacific, respectively.

Figure 1. Global Flare Gas Recovery Systems Market, Revenue Share (%), By Region, 2019

Flare Gas Recovery Systems  | Coherent Market Insights

Market Restraints

High capital investment of the system as the marketing of a system includes design, production, installation and test run which increase 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 the demand for flare system as they consider it uneconomical to install. This is expected to hinder the market growth of the flare gas recovery system.

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 the 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 the demand for environmental sustainability is expected to accelerate the market growth. 

Figure 2. Global Flare Gas Recovery Systems Market – Opportunity Analysis

Flare Gas Recovery Systems  | Coherent Market Insights

Market Trends

Increasing natural gas production in order to cater to the rising demand for energy around the globe is expected to foster market growth. According to the International Energy Agency, in 2018, global natural gas production crossed a record of 3937 Billion cubic meters, a 4.0% increase compared to 2017. In fact, natural gas production has been rising since the economic crisis of 2009 with a compound annual growth rate of 2.8%. Thus, the rising production of natural gas will favor market growth.

The growing focus of manufacturers for adopting gas exploration to secure long-term energy supply is expected to be a major trend in the market. Various companies are making efforts to develop and explore unconventional resource sites around the globe such as tight gas, shale gas, and coal seam gas is anticipated to augment the market growth of the flare gas recovery system over the forecast period.

Figure 3. Global Flare Gas Recovery Systems Market, Revenue Share (%), By Capacity, In 2019

Flare Gas Recovery Systems  | Coherent Market Insights

On the basis of capacity, very large dominated the global flare gas recovery systems market in 2019 with around 44% of market share in terms of revenue, followed by as large and medium, respectively

Regulations

North America

The introduction of initiatives and regulations by the EPA is fuelling the adoption and deployment of FGRS in gas processing plants and refineries across the U.S.

  • For instance, the EPA is monitoring facilities and imposing penalties for violations in this regard under the Clean Air Act. 
  • Additionally, in order to avoid regulatory compliance issues, major facilities are focusing on the deployment of flare gas recovery systems.

Competitive Section

Key players are operating in the global flare gas recovery systems market are 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 discharging to atmosphere. Rapid increase in the population and changing lifestyle standards in emerging countries has fuelled to increase the levels of greenhouse gas emission in recent past years.

Market Dynamics

The global flare gas recovery systems market has witnessed significant growth in recent past years, owing to the steady 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.

Major players in the global flare gas recovery systems market are increasing their investment on innovative product launchings, 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 during the forecast period.

Key features of the study:

  • This report provides in-depth analysis of global flare gas recovery systems market size (US$ Billion and Units), and Compound Annual Growth Rate (CAGR %) for the forecast period (2020 – 2027), considering 2019 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 into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
  • It profiles leading 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 includes 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 the management authorities of companies to make informed decision regarding their future product launches, Product Type 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, global flare gas recovery systems manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analysing 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 Region:
    • North America
      • U.S.
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
      • Mexico
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
    • South America
      • Brazil
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
      • Rest of Latin America
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
    • Europe
      • France
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
      • Germany
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
      • U.K.
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
      • Russia
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
      • Benelux
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
      • Nordic
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
      • Rest of Europe
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
    • Asia Pacific
      • China
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
      • Japan
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
      • Australia & New Zealand
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
      • India
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
      • Rest of the Asia-pacific
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
    • Middle East & Africa
      • GCC
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
      • South Africa
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
      • Rest of Middle East & Africa
        • By Capacity
          • Small
          • Medium
          • Large
          • Very Large
  • Company Profiles
    • UOP-A Honeywell Company*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • 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.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Capacity
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTER’s Analysis
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
  4. Global Flare Gas Recovery Systems Market, By Capacity, 2017 - 2027 (US$ Million and Units)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Small
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Medium
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Large
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Very Large
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
  5. Global Flare Gas Recovery Systems Market, By Region, 2017- 2027 (US$ Million and Units)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2020 - 2027
    • North America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
    • South America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • Rest of South America
          • Sub-region/Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
    • Europe
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • France
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • Nordic
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • Benelux
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • Poland
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • Rest of Europe
          • Sub-region/Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
    • Asia Pacific
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • China
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • India
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • Oceania
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • Rest of Asia Pacific
          • Sub-region/Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
    • Middle East & Africa
      • Market Share Analysis, By Country/ Sub-region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country/ Sub-region, 2020 - 2027
        • GCC
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • South Africa
          • Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
        • Rest of Middle East & Africa
          • Sub-region/Country Trends
          • Market Size and Forecast, By Capacity, 2017- 2027 (US$ Million and Units)
  6. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • UOP-A Honeywell Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Wärtsilä Hamworthy
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • MPR Industries PLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • John Zink Company LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Zeeco Europe and Zeeco India
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Gardener Denver
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Ro-Flo Compressors
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 45 market data tables* and 30 figures* on "Global Flare Gas Recovery Systems Market” – global forecast to 2027

Frequently Asked Questions

The market for global flare gas recovery systems is forecast to surpass US$ 4.5 billion by 2027 witnessing a CAGR of 13.8% between 2020 and 2027.
Adoption of flare gas recovery owing to the rise in need to reduce carbon emissions and increasing demand for flare system from oil & gas industry is fuelling the growth of the global flare gas recovery systems market in the region.
Increasing natural gas production in order to cater to the rising demand for energy and growing focus of manufacturers for adopting gas exploration to secure long-term energy supply are expected to favor market growth over the forecast period.
Use of flare gas recovery systems in personal care products tends to be expensive and lack of clarity regarding return on investment across the oil & gas industry is expected to hamper the growth the market during the forecast period.
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 Compressorsr
The global flare gas recovery systems market was estimated to be valued around US$ 1.8 Billion in terms of revenue in 2019.
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