Flare Gas Recovery System Market - Set To Register A CAGR Of 13.7 Percent In The Forecast Phase

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Flare Gas Recovery Systems Market Analysis, Size, Growth,
Share and Forecast to 2020: Hexa Research
According to Hexa Research, the flare gas recovery systems market is likely to grow from USD
930.6 million in 2014 to 1, 019.7 million in 2020. The market would observe over 13.7 percent
CAGR in the upcoming years. Flare gas recovery systems (FGRSs) assist in recovering waste
gas and making the latter available for power generation in confined utilization.
Flaring of natural gases helps in increasing carbon emission volumes by a great extent. Owing
to rising carbon footprints, global warming, and surging carbon control, governments and
regulatory organizations are taking initiatives to install flare gas recovery systems. However,
one of the major reasons why companies are unwilling to install the same is because of their
high costs.
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This serves as a hindrance for the flare gas recovery systems market and slows down its pace.
The formulation of flaring reduction targets such as ‘Zero Flare by 2025’ by the World Bank and
additional initiatives by oil and gas firms ensure optimum energy consumption.
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Trends
FGRS manufacturers are developing innovative products to strengthen their position in the
industry. They are also taking measures to improve in terms of technology. For example, a U.K.
based company known as Transvac has recently proclaimed an online software launch used for
gas screening and compression
Emerging countries with reduced awareness about FGRSs offer less opportunities to FGRS
manufacturers. Awareness campaigns of nonprofit organizations will compel the government to
limit regulations governing flaring in the oil and gas sector. One of the other market trends
includes FGRS installations.
These installations are frequently observed as an act of corporate societal accountability.
Developing regions would witness escalating FGRS installations during the second half of the
forecast phase. This would be owing to the necessity for decreasing carbon ejections.
Some Advantages of FGRSs


Reduced Maintenance Costs : The installation of FGRSs results in less expenses for their
maintenance.
Enhanced Operational Efficiency : FGRSs assist in power production for confined use.
Unwanted gas, or waste gas could be used for various industrial applications. These factors,
to a large extent, improve the operational efficiency of FGRSs.
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Types
The flare gas recovery systems market is divided into small, medium, large, and very large
systems. In 2014, small, and medium systems led the market by volume. Due to high prices;
large capacity systems led the market with regard to value. Very large systems are likely to go
through high growth in the years to come.
They would contribute over 42% share in the global market with respect to volume. This
segment will grow at a CAGR of 15.2% in the forthcoming years. Additionally, capacity
expansion plans, and escalating investments in the sector of oil and gas are projected to drive
the demand for small capacity systems over the forecast phase.
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Components
Compressors, heat exchangers, gaskets, and separators are the key components in the flare
gas recovery systems market. The most crucial segment is compressors. Among compressors,
liquid rings are in huge demand. This is due to their improved performance,
and low-
maintenance requirements. This segment is expected to go through high growth over the
forecast phase.
Regions
In terms of value and volume, the North American flare gas recovery systems market is likely to
maintain its shares of 32.1% and 32.8% respectively. Moreover; the regions of Asia Pacific and
South America are likely to witness high expansion at a CAGR of 17.2% and 16.5%
respectively. In 2014, Europe and North America dominated the market in relation to value.
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Both of them would dominate the worldwide flare gas recovery systems market over the
forecast phase. Due to rising consciousness, and mounting concerns regarding conservation
issues, emergent regions are likely to experience respectable figures in the years ahead. The
other emerging markets would grow at 470 basis points.
They contributed about USD 457 million. These developing regions also left FGRS
manufacturers with prospects for further development.
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Market Participants
The leading flare gas recovery systems market organizations include MPR Industries, Zeeco,
Wartsila and Nash (Gardener Denver), UOP Honeywell, John Zink Hamworthy Combustion, and
Ro-flo Compressors Inc.
Table of Contents
Executive Summary & Digital Transformation industry critical success factors
Industry Outlook
Industry Dynamics
Flare Gas Recovery Systems drivers
Flare Gas Recovery Systems restraints
Flare Gas Recovery Systems Key Market Opportunities
Flare Gas Recovery Systems Porters Analysis
Flare Gas Recovery Systems - PESTEL Analysis
Flare Gas Recovery Systems - Company Market Share Analysis
Flare Gas Recovery Systems Application Outlook
Flare Gas Recovery Systems Regional Outlook
Flare Gas Recovery Systems Company profiles
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Hexa Research
Fact-based market research, penetrating industry insights and validated
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Research Methodology
Research scope & assumptions
List of data sources
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According to Hexa Research, the flare gas recovery systems market is likely to grow from USD 930.6 million in 2014 to 1, 019.7 million in 2020. The market would observe over 13.7 percent CAGR in the upcoming years. Flare gas recovery systems (FGRSs) assist in recovering waste gas and making the latter available for power generation in confined utilization.

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