Flare Gas Recovery System Market Valuation Expected To Exceed $1.7 Billion By 2031

The Flare Gas Recovery Systems Market is expected to record annual growth at 4.8% in 2021, with the overall valuation expected to reach US$1.05 billion
in 2021. According to a recent analysis by Future Market Insights (IMF), sales of flare gas recovery systems are expected to increase to 5.9% CAGR between 2021 and 2031.

According to the study, the overall Flare Gas Recovery System market valuation is expected to reach US$1.7 billion by 2031. Compressor technology is expected to remain in high demand and sales of modular flare gas recovery systems will grow at a healthy pace, showing growth at a steady pace. 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 some extent. The market also saw a significant decline in FGRS sales in end-use sectors, including oil and gas, chemicals, and industrial fuel gas processing.

However, government initiatives to resume operations in heavy industries at full capacity and the resumption of stalled project activities are likely to propel the sales of flame gas recovery systems in the coming years.

Competitive landscape

Major companies operating in the global flare gas recovery systems market are focusing on expanding their presence in emerging markets to enhance their sales. Apart from this, players are investing in mergers, acquisitions, strategic collaborations and partnerships to strengthen their distribution channels and expand their production facilities. For instance:

  • In 2020, Zeeco, Inc. announced that Saudi Aramco had granted 9COM approval to Zeeco for a variety of combustion equipment manufactured at the Zeeco Middle East, Ltd. factory. in Dammam.
  • In 2018, Busch Vacuum Pumps and Systems announced that the Swiss-based engineering company NSB Gas Processing was now part of its group. NSB Gas Processing was renamed Busch NSB AG. The Busch NSB product portfolio offers a wide range of flare gas recovery systems, a subsector of the oil and gas industry.
  • Honeywell UOPs
  • Cimarron Energy, Inc. (Jordan Technologies)
  • Wärtsila
  • Zeeco, Inc.
  • SoEnergy International
  • John Zink Hamworthy Combustion
  • Ramboll Group, Inc.

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Flare Gas Recovery System Market by Category

By operating pressure:

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

By configuration:

By technology:

By debit:

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

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About the IGF

Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive 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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