Global flare monitoring market is forecast to exhibit a CAGR of over 8% during 2021-2026, growing more than $ 823 million in 2019. 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, 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 global flare monitoring market in 2020, 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 global market during 2021-2026, owing to increasing exploration & production activities in the oil & gas industry, globally.
In terms of region, global flare monitoring market is categorized into Asia-Pacific, North America, Europe, Middle East & Africa and South America. North America dominates global flare monitoring market, backed by growing government regulations to address poisonous and combustible gases coming out from industries.
Some of the major companies operating in global flare monitoring market are Honeywell International Inc., Siemens AG, Emerson Electric Company, ABB Ltd., Ametek Inc., Thermo Fisher Scientific Inc., Zeeco Inc., Lumasense Technologies Inc., Endress+Hauser Ag and KJohn Zink Company, LLC.
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Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
- To analyze and forecast global flare monitoring market size.
- To forecast global flare monitoring market based on mounting method, end-use industry and regional distribution.
- To identify drivers and challenges for global flare monitoring market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global flare monitoring market.
- To conduct the pricing analysis for global flare monitoring market.
- To identify and analyze the profile of leading players operating in global flare monitoring market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of flare monitoring system and solution providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the system and solution providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major system and solution providers across the globe.
TechSci Research calculated global flare monitoring market size by using a top down approach, where data for various applications across various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Flare monitoring system and solution providers and other stakeholders
- Flare monitoring end user industries
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to flare monitoring market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as flare monitoring system and solution providers, suppliers and end users. The study would also help them in identifying which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market.
Table Of Content :
- Product Overview
- Research Methodology
- Executive Summary
- Impact of COVID-19 on Global Flare Monitoring Market
- Voice of Customer
5.1. Factors considered while selecting a supplier
5.2. Product awareness and applicability & usage analysis
5.3. Challenges/issues faced post purchase
5.4. Unmet needs
- Global 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 [In-Process – Mass Spectrometers, Gas Chromatographs, Gas Analyzers, Flowmeters, Calorimeters, Others; Remote – Thermal (IR) Imagers, Multi Spectrum Infrared (MSIR) Imagers, Others]
6.2.2. By End-Use Industry [Oil & Gas Production Sites; Refineries & Petrochemical; Others – Landfills, Metal & Steel Production]
6.2.3. By Region (Asia-Pacific; Europe; North America; South America; Middle East & Africa)
6.2.4. By Company (2020)
6.3. Market Attractiveness Index (By Mounting Method; By End-Use Industry; By Region)
- North America 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
Mr. Ken Mathews
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