“Flare Gas Recovery System Market By Operating Pressure (Upto 5 bar, 5 to 10 bar, 10 to 20 bar, 20 to 60 bar), Configuration (Modular, Skid Mounted), Technology (Compressor, Ejector Based), Flow Rate (Upto 2 MMSCFD, 2 to 5 MMSCFD, 5 TO 10 MMSCFD), Application (Oil & Gas, Chemical Plants, Storage Tanks) & Region – Forecast to 2021 – 2031 ”
Severe guidelines and drives in regards to fossil fuel byproducts control by state and national legislatures across the globe are prodding interest for Flare Gas Recovery System. Mechanical headways like FGRS to further develop adequacy in remote oil and gas fields are likewise projected to supplement market development in the approaching years.
Deals possibilities of Flare Gas Recovery System were anyway hosed because of the beginning of the COVID-19 pandemic. Interruptions in inventory network and ended creation exercises in the oil and gas area brought about deteriorated interest for Flare Gas Recovery System.
Be that as it may, with assisted antibody drives and resumption of exchange exercises, recuperation of the flare gas recuperation framework market is on card. FMI has extended deals of Flare Gas Recovery System to increment by 4.8% year-over-year somewhere in the range of 2020 and 2021.
Driving flare gas recuperation framework makers are centering sending off savvy and high proficiency items to further develop deals. Innovations, for example, ejector-based frameworks are acquiring foothold on the lookout and innovative work to further develop viability of these frameworks will keep giving tailwinds to erupt gas recuperation framework deals through 2031.
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Flare Gas Recovery System Market 2016-2020 Outlook Compared to 2021-2031 Forecast
Revenue generated by the oil and gas segment of the flare gas recovery system (FGRS) market rose gradually in 2021. Demand for flare gas recovery systems grew by 4.8% between 2020 and 2021, enabling growth in the flare gas recovery system market.
The FGRS market is regulation driven. Historically, the market witnessed impressive growth after 2015, when the World Bank launched its “Zero Flaring by 2030” initiative. The initiative was launched to end routine flaring by 2030, by facilitating cooperation between stakeholders to find solutions to curb gas flaring through appropriate regulations, adoption of technologies, and financial arrangements.
Leading flare gas recovery system manufacturing companies are focusing on providing highly efficient and cost-effective options that reduce payback period. Further, manufacturers are investing in research and development in FGRS to enhance their capability to work in remote oil and gas fields to improve sales.
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Competitive Landscape
Zeeco, Inc., John Zink Hamworthy Combustion, Honeywell UOP, Cimarron Energy, Inc., Wärtsilä among others.
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Flare Gas Recovery System Market by Category
By Operating Pressure:
- Upto 5 bar (small)
- 5 to 10 bar (medium)
- 10 to 20 bar (large)
- 20 to 60 bar ( very large)
By Configuration:
- Modular
- Skid Mounted
By Technology:
- Compressor
- Reciprocating
- Screw
- Liquid Ring
- Siding Vane
- Ejector Based
By Flow Rate:
- Upto 2 MMSCFD
- 2 to 5 MMSCFD
- 5 TO 10 MMSCFD
- 10 TO 20 MMSCFD
- 20 to 50 MMSCFD
By Application:
- Oil & Gas
- Petrochemical Refineries
- NGL Plants
- CNG Refineries
- EOR
- Pipeline & Syn Gas
- FPSO Offshore platforms
- Fuel gas conditioning
- Chemical Plants
- Storage Tanks
- Bio Gas & Landfill
- Industrial flue gas treatment
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MIDDLE EAST AND AFRICA)