The global flare monitoring market is forecast to exhibit a CAGR of over 8% during 2019-2024, growing from $ 773 million in 2018 to $ 1219 million by 2024.
Flare monitoring is the ability of a system to detect the level of thermal radiations and the size of flare generated during the removal of unwanted gases in various processes by the industry. The flare monitoring market is expected to grow substantially, backed by factors such as strict environment regulations aimed at curbing harmful emissions and increasing combustion efficiency of flare systems, benefits offered by remote flare monitoring like close monitoring of flare, prevention of unplanned over pressuring of plant equipment, etc.
In terms of end-use industry, the global flare monitoring market is categorized into oil & gas production sites, refineries & petrochemicals and others. Of these industries, refineries & petrochemicals segment accounted for majority share in the global flare monitoring market in 2018, on account of growing consumption of petroleum & petrochemicals products.
The segment is anticipated to maintain its dominating market position during the forecast period. The oil & gas production sites category is likely to witness the fastest growth in the global market during 2019-2024, owing to increasing exploration & production activities in the oil & gas industry, globally.
North America dominates the global flare monitoring market, backed by growing government regulations to address poisonous and combustible gases coming out from industries.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer 4.1. Factors considered while selecting a supplier 4.2. Product awareness and applicability & usage analysis 4.3. Challenges/issues faced post purchase 4.4. Unmet needs
5. Global Flare Monitoring Market Outlook 5.1. Market Size & Forecast 5.1.1. By Value 5.2. Market Share & Forecast 5.2.1. By Mounting Method [In-Process - Mass Spectrometers, Gas Chromatographs, Gas Analyzers, Flowmeters, Calorimeters, Others; Remote - Thermal (IR) Imagers, Multi Spectrum Infrared (MSIR) Imagers, Others] 5.2.2. By End-Use Industry [Oil & Gas Production Sites; Refineries & Petrochemical; Others - Landfills, Metal & Steel Production] 5.2.3. By Region (Asia-Pacific; Europe; North America; South America; Middle East & Africa) 5.2.4. By Company (2018) 5.3. Market Attractiveness Index (By Mounting Method; By End-Use Industry; By Region)
6. North America Flare Monitoring Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value 6.2. Market Share & Forecast 6.2.1. By Mounting Method 6.2.2. By End-Use Industry 6.2.3. By Country 6.3. United States Flare Monitoring Market Outlook 6.4. Canada Flare Monitoring Market Outlook 6.5. Mexico Flare Monitoring Market Outlook
7. Europe Flare Monitoring Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value 7.2. Market Share & Forecast 7.2.1. By Mounting Method 7.2.2. By End-Use Industry 7.2.3. By Country 7.3. Russia Flare Monitoring Market Outlook 7.4. Norway Flare Monitoring Market Outlook 7.5. United Kingdom Flare Monitoring Market Outlook 7.6. Italy Flare Monitoring Market Outlook 7.7. Germany Flare Monitoring Market Outlook
8. Middle East & Africa Flare Monitoring Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value 8.2. Market Share & Forecast 8.2.1. By Mounting Method 8.2.2. By End-Use Industry 8.2.3. By Country 8.3. Saudi Arabia Flare Monitoring Market Outlook 8.4. Iraq Flare Monitoring Market Outlook 8.5. Iran Flare Monitoring Market Outlook 8.6. Algeria Flare Monitoring Market Outlook
9. Asia-Pacific Flare Monitoring Market Outlook 9.1. Market Size & Forecast 9.1.1. By Value 9.2. Market Share & Forecast 9.2.1. By Mounting Method 9.2.2. By End-Use Industry 9.2.3. By Country 9.3. China Flare Monitoring Market Outlook 9.4. India Flare Monitoring Market Outlook 9.5. Indonesia Flare Monitoring Market Outlook 9.6. Australia Flare Monitoring Market Outlook 9.7. Japan Flare Monitoring Market Outlook 9.8. Malaysia Flare Monitoring Market Outlook
10. South America Flare Monitoring Market Outlook 10.1. Market Size & Forecast 10.1.1. By Value 10.2. Market Share & Forecast 10.2.1. By Mounting Method 10.2.2. By End-Use Industry 10.2.3. By Country 10.3. Brazil Flare Monitoring Market Outlook 10.4. Colombia Flare Monitoring Market Outlook 10.5. Argentina Flare Monitoring Market Outlook
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Related Topics: Air Purification
Source: GlobeNewswire PR
(June 20, 2019 - 7:10 AM EDT)
