Global flare gas recovery system market is expected to grow at a CAGR between 13% and 13.5% over the forecast period from 2017 to 2023. According to Ohio Environmental Protection Agency (OhioEPA) and U.S.EPA gas flaring is an important part of the production and processing of natural gas and oil from shale. Flare gas recovery system helps reduce the need for continuous flaring on oil and gas and petrochemical plants.
Figure: Global Flare Gas Recovery System Market by Value 2015-2023
The report covers the analysis of global as well as regional markets of flare gas recovery system market. The global flare gas recovery system market is expected to be primarily driven by factors such as effective mitigation of carbon emission, improving the life of flare tips in the oil and gas, and petrochemical plants, cost effective operations and reduction of loss and increased reuse options. However, the growth in global flare gas recovery system market is likely to be restrained by factors such as high cost of installations, ambiguities in understanding the return on investment (ROI) and lack of awareness in emerging markets of Asia Pacific and Latin America.
The global flare gas recovery system market is segmented on the basis of capacity and industry applications. The capacity includes small capacity, medium capacity, large capacity and very large capacity, while the industry applications include diversion and compression, pre-treatment of fuel gas, condensation, evaporators, and others. Among the capacities of recovery systems the very large flare gas recovery systems dominate the market in terms of value, where as small flare gas recovery systems dominate the market in terms of volume. The very large capacity of flare gas recovery system segment is expected to grow at the highest CAGR over the forecast period from 2017 to 2023 in terms of volume.
The global flare gas recovery system market covers analysis of regions such as North America, Europe, Asia-Pacific inclusive of Australia and RoW (including Latin America, Middle East and Africa). Among the geographies Europe is expected to be the largest market for flare gas recovery system market over the Forecast period from 2017 to 2023 followed by North America both in terms of value, and volume.
John Zink Hamworthy Combustion,
Gardner Denver Nash, Wärtsilä,
Honeywell International Inc,
Suzhou Jinhong Gas Co. Ltd,
Transvac Systems Ltd,
Highland Power Corp.
The report provides insights into the market using analytical tools such as Porter’s five forces analysis and value chain analysis of flare gas recovery system. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the flare gas recovery system that will impact the demand during the forecast period. The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand globally as well as regionally.
Moreover, Infinium Global Research- Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The Infinium Global Research- Growth Matrix analysis provided in this report highlights key investing markets in the world. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors to understand the present and future trends in this market and formulate their strategies accordingly.
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