This report titled “Flare Gas Recovery Systems Market - Growth, Future Prospects, and Competitive Analysis, 2020 – 2028” offers strategic insights into the trends in flare gas recovery systems market along with the market size and forecast for the duration 2018 to 2028. The said research study incorporates in-depth analysis of multiple market segments based on capacity, component and geographical distribution.
The global flare gas recovery systems market is becoming increasingly competitive with growing number of mergers and collaborations between market players to reach full capabilities and gain international footprint. In addition, several players are also focused on developing their niche in the market. Rapid growth of this market has also resulted in creating further skilled job opportunities in major hubs spread across North America, Europe Latin America and Asia Pacific.
Based on capacity, the global flare gas recovery systems market is categorized into small, medium, large and very large capacity flare gas recovery system. On the basis of component, the global flare gas recovery systems market is segmented into compressors, heat exchangers, gaskets, separators. In addition, oil producing companies, manufacturing industries and academic organizations form the major client types for flare gas recovery system. Market size and forecast for all the considered segmentation is presented in this report for the period 2018-2028 (US$ Mn) along with their respective CAGRs for the forecast period 2020-2028 (Value %).
Along with the quantitative information sets, this report also provides qualitative information such as market dynamics and executive summary for the global flare gas recovery systems market. Tools such as competition assessment and attractive investment proposition are also included in the report to provide the readers with competitive mapping assistance. This study concludes with company profiles section. This section includes major information about the key companies engaged in development, and provision of flare gas recovery systems.
Based on the capacity, the global flare gas recovery systems market is segmented as follows:
Global flare gas recovery systems market is categories on the basis of capacity. By capacity, the large and very large segments are projected to be the most dominant segments and are expected to witness high growth over the forecast period. Increasing production and refining of conventional natural gas and non-conventional shale gas is projected to drive the demand for large and very large segment. Small and medium segment lead the market share by value in 2019. However, in terms of value the large and very large segment led the market share by value due to high prices of large and very large capacity flare gas systems.
Based on the component, the global flare gas recovery systems market is segmented as follows:
Global flare gas recovery systems market is categories on the basis of component. Among components, the compressor segment is projected to be the most dominant segment owing to growing popularity of liquid ring compressors is projected to augment the growth of the segment over the forecast period. Increasing adoption of flare gas recovery system in natural gas production and other end use industries is further expected to fuel the growth of the segment. The segment is anticipated to gain significant revenue share by 2028.
In 2019, North America and Europe are the dominant regional markets for flare gas recovery systems. These regions are domicile for several large, mid and small sized flare gas recovery manufacturers that offer a wide range of flare gas recovery units. Both the regions collectively account for over 60% revenue share of the global flare gas recovery systems market. The growth of the region is augmented by stringent regulations over greenhouse gases emission. Increasing shale gas production in North America is anticipated to drive the growth of flare gas recovery systems in the region. However, European market has become saturated and is expected to witness steady growth during the forecast period. On the other hand, Asia Pacific is expected to witness significant growth owing to developments in natural gas production and evolution of end use industries especially in China and Japan is anticipated to be the most prominent country-level markets for flare gas recovery system during the forecast period (2018-2028).
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Flare Gas Recovery Systems market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Region Segment (2020–2030; US$ Million)
Global Impact of Covid-19 Segment (2020-2021; US$ Million )
Key questions answered in this report