Flare Monitoring Market Overview
Market Research Future (MRFR’s) latest study reveals that the global flare monitoring market will grow at a compound annual growth rate of 7.83% during the forecast period (2018-2025). Flare monitoring is an important aspect of operating oil and gas facilities. Flare monitoring devices are installed to monitor the fluctuations in the stack flame and spot abnormalities, if any. Modern flare monitoring devices come with visual cameras and advanced infrared systems. They are capable of non-contact monitoring using thermal imaging and pyrometry that are specifically designed for the continuous monitoring of emissions.
Monitoring the fluctuations in stack flame is the primary function of flare monitoring devices. Integration of leading-edge infrared systems and visual cameras has made these systems extremely effective and credible. The latest versions of the flare monitoring systems are capable of non-contact monitoring and continuous monitoring of emissions. Flare monitoring systems are common in chemical process plants, refineries, petrochemicals industry, oil & gas production sites, and gas distribution infrastructure. With the oil and gas industry striving for more efficiency in both upstream and downstream activities, technologies such as flare monitoring will remain crucial.
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Global Flare Monitoring Market Competitive Landscape:
- Thermo Fisher Scientific
- Siemens AG
- Honeywell International
- FLIR Systems
- LumaSense Technologies
- Fluenta AS
- Williamson Corporation
- Extrel CMS and
- Providence Photonics
Flare Monitoring Industry Segmental Analysis:
MRFR’s study includes a thorough segmental analysis of the market based on type application and region.
On the basis of type, the market has been segmented into In-process and remote. The In-process segment in further sub-segment into mass spectrometers, gas chromatographs, gas analyzers. The remote segment is further sub-segmented in remote-IR imagers and MSIR imagers. The In-process segment accounts for the larger share of the market. During the forecast period, the segment is expected to post a CAGR of 7.71% and retain its leading position. The remote segment is expected to exhibit a relatively higher CAGR.
On the basis of application, the market has been segmented into refineries, oil & gas production sites, and petrochemicals. The oil & gas production sites segment currently accounts for major share of the market. The petrochemical segment currently accounts for second largest share in the market and is likely to retain its second spot over 2025.
Flare Monitoring Market Regional Outlook:
In the report, the market has been covered across regions such as North America, Europe, Asia Pacific, the Middle East & Africa (MEA), and Latin America.
North America accounted for largest share in the flare monitoring market in 2017. The region is expected to remain a key market for flare monitoring during the forecast period. The market in North America is entering a maturity phase and undergoing technological and structural transformation. North America is followed by Europe and Asia-Pacific. The Europe flare monitoring market is currently valued at over USD 150 Mn and projected to surge at a healthy growth rate over the next couple of years. Meanwhile, the market in APAC is expected to surpass a valuation of USD 200 Mn by the year 2025, reflecting a CAGR of 8.06%. There has been a rapid expansion of the facilities in the upstream oil and gas sector in the region, which is likely to provide the business opportunities in the market in APAC region.
List of Tables
Table 1 Market Synopsis
Table 2 Global Flare Monitoring Production (Thousand Units) And CAGR (%) Comparison By Type (2013- 2025)
Table 3 Global Flare Monitoring Production (Thousand Units), By Type, (2013 To 2018)
Table 4 Global Flare Monitoring Production Share, By Types, (2013 To 2018)
Table 5 Global Flare Monitoring Consumption (Thousand Units) By In-Process (2013-2025)
Table 6 Global Flare Monitoring Consumption (Thousand Units) By Remote (2013-2025)
Table 7 Global Flare Monitoring Consumption (Thousand Units) By Application (2013-2025)
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