The global flare gas recovery system market size was USD 1.05 Billion in 2021 and is expected to register a revenue CAGR of 5.3% over the forecast period, according to the latest report by Reports and Data.

Flaring gas recovery systems and flaring control are required in petrochemical and oil and gas production. Under the Global Gas Flaring Reduction Partnership (GGFR), the World Bank has produced various recommendations highlighting new advancements in flaring management, operational improvement, and removing flare gas from the environment using modern technologies.

This project will also assist the global petrochemical and oil and gas sectors in identifying new business prospects and market approaches. The United Nations (UN) has set 17 sustainable development goals (SDG) to address some of the economic, social, and environmental concerns in the oil and gas business by 2030. These considerations are driving an increase in the demand for the installation of flare gas recovery systems in refineries and processing facilities.

Get a sample copy of the flare gas recovery system Market report, visit: vhttps://www.reportsanddata.com/sample-enquiry-form/1198

Some Key Highlights from the Report

  • In 2021, the compressor-based flare gas recovery system sector accounted for a higher revenue share. Flare gas recovery systems based on compressors are suited for handling hydrogen to heavy hydrocarbon gases. Compressor-based systems are designed to absorb compression heat as well as discharge temperatures when temperatures vary. This technology is used in many petrochemical and oil industries for recirculation as well as auxiliary heat exchangers.
  • In 2021, the Asia Pacific market will have a bigger revenue share. Rapid industrialization and government export promotion measures are propelling the expansion of the flare gas recovery systems market in this area. Plastics, rubbers, resins, synthetic fibres, adhesives, petroleum-derived paints and coatings are all manufactured and exported from Asia Pacific. Over 100 global chemical centres and some of the world's top downstream companies, including Shell, Chevron, and ExxonMobil, are located in Asia Pacific.
  • Baker Hughes Firm, a U.S.-based worldwide industrial service company, inked a collaboration agreement with Egyptian General Petroleum Corporation (EGPC) on June 29, 2022, to deliver and install a flare gas recovery system. As part of greenhouse gas elimination efforts, the Egyptian Ministry of Petroleum and Mineral Resources (MoPMR) intends to minimise emissions and increase the efficiency of O&G operations.
  • Companies profiled in the market report include Aerzener Maschinenfabrik GmbH, Transvac Systems Limited, Koch Industries, Inc., Birwelco Ltd, MAN Energy Solutions SE, Zeeco, INC., Mitsubishi Heavy Industries Compressor, LTD., HeatMatrix Group B.V., Exodraft A/S, Gardner Denver, and Baker Hughes Company, among others.

To know more about the latest insights of the report, visit: vhttps://www.reportsanddata.com/request-latest-insight/1198

  • For the purpose of this report, Reports and Data has segmented the global flare gas recovery system industry into Operating Pressure Outlook, Technology Outlook, Flow rate Outlook, Application Outlook Regional Outlook:

Operating Pressure Outlook (Revenue, USD Billion; 2019-2030)

  • Up to 5 bar (small)
  • 5 to 10 bar (medium)
  • 10 to 20 bar (large)
  • 20 to 60 bar (very large)

Technology Outlook (Revenue, USD Billion; 2019-2030)

  • Compressor
  • Ejector based

Flow rate Outlook (Revenue, USD Billion; 2019-2030)

  • Up to 2 MMSCFD
  • 2 to 5 MMSCFD
  • 5 to 10 MMSCFD
  • 10 to 20 MMSCFD
  • 20 to 50 MMSCFD

Application Outlook (Revenue, USD Billion; 2019-2030)

  • Oil & Gas (O&G)
  • Chemical Plants
  • Industrial gas treatment
  • Bio-gas treatment
  • Others

Regional Outlook (Revenue, USD Billion; 2019-2030)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Sweden
    • BENELUX
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Israel
    • Rest of MEA

Request a customization of the report: https://www.reportsanddata.com/request-customization-form/1198

Thank you for taking the time to read our article. The report can be tailored to the needs of the client. Please contact us for more details, and our team will tailor the report to your specific requirements.

About Reports and Data                                       

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact:

John W, Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs