The flare gas recovery system market is expected to register year-on-year growth at 4.8% in 2021, with the overall valuation expected to reach US$ 1.05 Bn in 2021. As per a recent analysis by Future Market Insights (FMI), sales of flare gas recovery systems are expected to increase at 5.9% CAGR between 2021 and 2031.
According to the study, the overall flare gas recovery system market valuation is forecast to top US$ 1.7 Bn by 2031. Compressor technology is expected to remain highly sought-after, and sales of modular flare gas recovery system will increase at a steady pace, exhibiting growth at a 5.7% CAGR in 2021.
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Will the COVID-19 Crisis Hamper Sales of Flare Gas Recovery Systems?
In 2020, the unprecedented COVID-19 outbreak suspended all industrial activities and delayed several oil and gas projects to an extent. The market also saw a significant dip in sales of FGRS 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 forthcoming years.
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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
Scope of Report
| Attribute | Details |
| Forecast Period | 2021-2031 |
| Historical Data Available for | 2016-2020 |
| Market Analysis | USD Million for Value |
| Key Countries Covered | US, Canada, Brazil, Mexico, Argentina Germany, U.K., France, Italy, Spain, Russia, Nordics, China, Japan, South Korea, India, ASEAN Countries, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, Western Africa, Iran and South Africa |
| Key Segments Covered | Operating Pressure, Configuration, Technology, Flow Rate, Application and Regions |
| Key System Manufacturing Companies Profiled |
|
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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