Press release
Flare Gas Recovery System Market is expected to increase at 5.9% CAGR between 2021 and 2031
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.
Request a Sample of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-84
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.
Competitive Landscape
Leading companies operating in the global flare gas recovery system market are focusing on expanding their presence in emerging market to improve sales. Apart from this, players are investing in mergers, acquisitions, strategic collaborations, and partnerships to strengthen their distribution channels and to expand production facilities.
For instance:
• In 2020, Zeeco, Inc., announced that Saudi Aramco has granted 9COM approval to Zeeco for a variety of combustion equipment manufactured at the Zeeco Middle East, Ltd. facility in Dammam.
• In 2018, Busch Vacuum Pumps and Systems announced that the Swiss-based engineering company NSB Gas Processing is now part of its group. NSB Gas Processing has been renamed Busch NSB AG. Busch NSB product portfolio offers a wide range of flare gas recovery systems, a sub-sector of the oil and gas industry.
• Honeywell UOP
• Cimarron Energy, INC.( Jordan Technologies)
• Wärtsilä
• Zeeco, Inc
• SoEnergy International
• John Zink Hamworthy Combustion
• Ramboll Group, Inc.
Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-84
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
• Ejector Based
By Flow Rate:
• Upto 2 MMSCFD
• 2 to 5 MMSCFD
• 5 TO 10 MMSCFD
• 10 TO 20 MMSCFD
• 20 to 50 MMSCFD
Contact:
Future Market Insights Inc.
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/global-flare-gas-recovery-system-market
Website: https://www.futuremarketinsights.com
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.
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.
Request a Sample of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-84
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.
Competitive Landscape
Leading companies operating in the global flare gas recovery system market are focusing on expanding their presence in emerging market to improve sales. Apart from this, players are investing in mergers, acquisitions, strategic collaborations, and partnerships to strengthen their distribution channels and to expand production facilities.
For instance:
• In 2020, Zeeco, Inc., announced that Saudi Aramco has granted 9COM approval to Zeeco for a variety of combustion equipment manufactured at the Zeeco Middle East, Ltd. facility in Dammam.
• In 2018, Busch Vacuum Pumps and Systems announced that the Swiss-based engineering company NSB Gas Processing is now part of its group. NSB Gas Processing has been renamed Busch NSB AG. Busch NSB product portfolio offers a wide range of flare gas recovery systems, a sub-sector of the oil and gas industry.
• Honeywell UOP
• Cimarron Energy, INC.( Jordan Technologies)
• Wärtsilä
• Zeeco, Inc
• SoEnergy International
• John Zink Hamworthy Combustion
• Ramboll Group, Inc.
Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-84
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
• Ejector Based
By Flow Rate:
• Upto 2 MMSCFD
• 2 to 5 MMSCFD
• 5 TO 10 MMSCFD
• 10 TO 20 MMSCFD
• 20 to 50 MMSCFD
Contact:
Future Market Insights Inc.
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/global-flare-gas-recovery-system-market
Website: https://www.futuremarketinsights.com
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.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
