Flare Monitoring Market is expected to grow from USD 758.5 Million in 2017 to USD 1540.42 Million by 2026, at a CAGR of 8.19% between 2017 and 2026. (Detailed analysis of the market CAGR is provided in the report)
Flare monitoring method is used in industries to continuously monitor combustible gases released by pressure relief valves during unplanned over-pressuring of plant equipment and burnt unwanted waste gas byproducts Stringency in environmental regulations to control harmful emissions and increase combustion efficiency of flare systems, steady growth of oil, gas, and petrochemicals industries and benefits offered by remote flare monitoring systems are the key driving factors for the growth of Flare monitoring market.
However, technical issues resulting from the adherence to restrictive norms while bringing down the global cost of systems is a key challenging factor for the expansion of the flare monitoring market
Further key findings from the report:
- From the industry segment, refineries accounted for the largest share of the flare monitoring market in 2016. The oil & gas industry accounted over 93% share of flare monitoring market in 2016. Refineries account for major share of the market for remote and in-process flare monitoring devices and systems
- Flare monitoring market for in-process mounting accounted for the largest share in 2016 and is expected to grow at significant higher CAGR during the forecast period. Increase in crude and shale oil production, continuous demand from refineries, and discovery of new oil fields are the major driving factors for this market segment
- Among Geographical regions, North America held the largest share of flare monitoring market in 2016 and is expected to grow at higher CAGR during the forecast period. Europe and APAC held the largest share following North America
Key Highlights:
- Analyzes competitive developments such as contracts, joint ventures, mergers & acquisitions, collaborations, product launches & developments, and research and development (R&D) in the Flare Monitoring Market
- The objective of the report is to provide a detailed analysis of the Flare Monitoring Market on the basis of mounting method, industry, and geography
- Complete quantitative analysis of the industry from 2017 to 2026 to enable the stakeholders to capitalize on the prevailing market opportunities
- In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain
- Analysis of the Flare Monitoring Market with respect to individual growth trends, prospects, and contribution to the total market
- Segment wise business performance detailed in a report will be worthwhile for the organizations willing to enhance its business
- Provides detailed information regarding the major factors influencing the growth of the Flare Monitoring Market (drivers, restraints, opportunities, and challenges)
- This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business
Years that have been considered for the study are as follows:
- Base Year – 2016
- Estimated Year – 2017
- Forecast Period – 2017 to 2026
For company profiles, 2016 has been considered as the base year. In cases, wherein information was unavailable for the base year, the years prior to it have been considered
Research Methodology
Bloomberg, Hoovers, Factiva are some of the sites that are being referred to gain insights about Flare Monitoring Market. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the Flare Monitoring Market globally.
Key Players in the Flare Monitoring Market Are:
- ABB
- Siemens Group
- Flir Systems
- Honeywell
- Emerson Electric Co.
- Thermo Fisher Scientific
- Zeeco Inc.
- Ametek Inc.
- MKS Instruments
- Williamson Corporation
- Lumasense Technologies Inc.
- Endress+Hauser Ag
- Fluenta
- Eaton Hernis Scan Systems
- John Zink Company, LLC
- Oleumtech Corporation
- Providence Photonics LLC
Key Target Audience:
- Flare monitoring components and equipment providers
- Flare monitoring-related associations, organizations, forums, and alliances
- Flare monitoring service providers
- End-users/enterprise-users
- Research institutes and organizations
- Government bodies, venture capitalists, and private equity firms
- Market research and consulting firms
- Enterprise data center professionals
The scope of the Flare Monitoring Market:
Research report categorizes the Flare Monitoring Market based on mounting method, industry, and geography (region wise). Market size by value is estimated and forecasted with the revenues of leading companies operating in the Flare Monitoring Market with key developments in companies and market trends.
Flare Monitoring Market, By Mounting Method:
- Remote
- In-Process
Flare Monitoring Market, by Industry:
- Refineries
- Landfills
- Petrochemical
- Onshore Oil & Gas Production Sites
Flare Monitoring Market, By Geography:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Available Customization:
Maximize Market Research offers customization of report and scope of the report as per the specific requirement of our client.
About company information-
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
