Flare Gas Recovery Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

The flare gas recovery systems market is poised for impressive growth, driven by the increasing focus of end-use industries on reducing hydrogen sulfide (H2S) flaring and enhancing the cost-effectiveness of flare gas applications. This trend is set to propel advancements in the market, with a notable surge in demand due to the growing application of these systems in power generation.

Opportunities in the Oil & Gas Industry

The oil & gas industry is expected to present lucrative opportunities in the global flare gas recovery systems market over the forecast period. Stringent government regulations aimed at reducing carbon emissions are significantly influencing the adoption of these systems. Despite the temporary slowdown in the industrial sector, particularly the oil & gas industry, during the COVID-19 pandemic, the market is anticipated to regain momentum as the global economy recovers.

Regional Market Leaders

North America and Europe are expected to emerge as market leaders, capturing major market shares by the end of the forecast period. The market players are actively exploring opportunities in emerging economies, where the market is gaining traction due to rising awareness about carbon emissions and their environmental impact. Technological advancements are being leveraged to boost the capacity and efficiency of flare gas recovery systems.

Key Market Players

Prominent players in the global market include Zeeco, MPR Industries, John Zink Hamworthy Combustion, and UOP Honeywell. These companies are at the forefront of driving innovation and expanding their product portfolios to cater to the growing demand for flare gas recovery systems.

Process of Flare Gas Recovery

In natural gas production, substantial volumes of gas are flared as part of maintenance and safety procedures. This flaring results in significant carbon emissions and financial loss to natural gas producers. Flare gas recovery involves the collection of waste gas to generate power, making it a critical process for energy co-generation and captive applications. The growing traction for flare gas recovery systems is evident, with Fairfield Market Research indicating strong growth prospects for the global market.

Market Dynamics

Increasing applications in power generation are a primary factor fueling the demand for flare gas recovery systems. Many producers re-inject flare gas into natural gas production wells to maintain optimal pressure, sustaining demand over the coming years. Rising concerns and awareness about the adverse environmental impacts of industrial production processes are further driving the demand for flare gas recovery systems.

The importance of environmental conservation is increasing rapidly, boosting the adoption of these systems. The expansion of the oil and gas sector, along with burgeoning investments by leading companies, will be major drivers of market growth during the forecast period.

Environmental Guidelines and Corporate Responsibility

Recent guidelines by the World Bank Group's EHS, targeting zero flare by 2025, and other such initiatives by environmental organizations are expected to remain longstanding drivers of market growth. A large number of natural gas and oil companies are increasingly seeking the implementation of flare gas recovery systems to maximize energy usage, considering it a part of their corporate social responsibility. This trend is likely to bolster demand significantly.

Opportunities in Developing Economies

Developing countries are expected to witness accelerated adoption of flare gas recovery systems to mitigate carbon emission levels. Manufacturers of flare gas recovery systems are anticipated to capitalize on lucrative opportunities, with the market potentially witnessing the introduction of comprehensive solution packages that include design, consulting, manufacturing, installation, aftermarket, and post-sales services.

Segment Analysis

Based on capacity, the global flare gas recovery systems market is classified into small, medium, large, and very large capacity segments. The market is likely to see a dominant emergence of large and very large capacity systems due to increasing preference by producers. The very large capacity segment is anticipated to account for a significant market value share, driven by the need for higher recovery and efficiency.

Regional Analysis

Geographically, the global flare gas recovery systems market is segmented into North America, South America, Europe, Eurasia, Asia Pacific, the Middle East, and Africa. North America and Europe are expected to remain prominent markets, although Europe may see slower growth due to lower natural gas production and market saturation.

North America is projected to maintain a substantial market share, with Europe and North America collectively capturing a significant portion of the market in terms of revenues. Markets in developing economies are expected to see an uptick, attributed to rising awareness about carbon emissions, environmental conservation, and the adoption of flare gas recovery systems for power generation applications.

Market Key Players

Honeywell UOP
Ramboll Group, Inc.
Wartsila
Zeeco, Inc
SoEnergy International
John Zink Hamworthy Combustion
Others

Key Market Segmentation

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
- Reciprocating
- Screw
- Liquid Ring
- Siding Vane
Ejector Based

By Flow Rate:

Upto 2 MMSCFD
2 to 5 MMSCFD
5 TO 10 MMSCFD
10 TO 20 MMSCFD
20 to 50 MMSCFD

By Application:

Oil & Gas
- Petrochemical Refineries
- NGL Plants
- CNG Refineries
- EOR
- Pipeline & Syn Gas
- FPSO Offshore platforms
- Fuel gas conditioning
Chemical Plants
Storage Tanks
Bio Gas & Landfill
Industrial flue gas treatment

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa (MIDDLE EAST AND AFRICA)

1. Executive Summary

1.1. Global Flare Gas Recovery Systems Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Flare Gas Recovery Systems Market Outlook, 2018 - 2031

3.1. Global Flare Gas Recovery Systems Market Outlook, by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. Small
  - 3.1.1.2. Large
  - 3.1.1.3. Very Large
  - 3.1.1.4. Medium
3.2. Global Flare Gas Recovery Systems Market Outlook, by Application Value (US$ Bn) and Volume (Units), 2018 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. Petroleum Refineries
  - 3.2.1.2. Chemical Plants
  - 3.2.1.3. Gas Treatment and NGL Plants
  - 3.2.1.4. FPSO Platforms
  - 3.2.1.5. Storage Tank Vent Recovery
3.3. Global Flare Gas Recovery Systems Market Outlook, by Region, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. North America
  - 3.3.1.2. Europe
  - 3.3.1.3. Asia Pacific
  - 3.3.1.4. Latin America
  - 3.3.1.5. Middle East & Africa

4. North America Flare Gas Recovery Systems Market Outlook, 2018 - 2031

4.1. North America Flare Gas Recovery Systems Market Outlook, by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Small
  - 4.1.1.2. Large
  - 4.1.1.3. Very Large
  - 4.1.1.4. Medium
4.2. North America Flare Gas Recovery Systems Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Petroleum Refineries
  - 4.2.1.2. Chemical Plants
  - 4.2.1.3. Gas Treatment and NGL Plants
  - 4.2.1.4. FPSO Platforms
  - 4.2.1.5. Storage Tank Vent Recovery
- 4.2.2. BPS Analysis/Market Attractiveness Analysis
4.3. North America Flare Gas Recovery Systems Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. U.S. Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 4.3.1.2. U.S. Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 4.3.1.3. Canada Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 4.3.1.4. Canada Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 4.3.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Flare Gas Recovery Systems Market Outlook, 2018 - 2031

5.1. Europe Flare Gas Recovery Systems Market Outlook, by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Small
  - 5.1.1.2. Large
  - 5.1.1.3. Very Large
  - 5.1.1.4. Medium
5.2. Europe Flare Gas Recovery Systems Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Petroleum Refineries
  - 5.2.1.2. Chemical Plants
  - 5.2.1.3. Gas Treatment and NGL Plants
  - 5.2.1.4. FPSO Platforms
  - 5.2.1.5. Storage Tank Vent Recovery
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Europe Flare Gas Recovery Systems Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Germany Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 5.3.1.2. Germany Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 5.3.1.3. U.K. Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 5.3.1.4. U.K. Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 5.3.1.5. France Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 5.3.1.6. France Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 5.3.1.7. Italy Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 5.3.1.8. Italy Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 5.3.1.9. Turkey Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 5.3.1.10. Turkey Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 5.3.1.11. Russia Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 5.3.1.12. Russia Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 5.3.1.13. Rest of Europe Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 5.3.1.14. Rest of Europe Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Flare Gas Recovery Systems Market Outlook, 2018 - 2031

6.1. Asia Pacific Flare Gas Recovery Systems Market Outlook, by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Small
  - 6.1.1.2. Large
  - 6.1.1.3. Very Large
  - 6.1.1.4. Medium
6.2. Asia Pacific Flare Gas Recovery Systems Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Petroleum Refineries
  - 6.2.1.2. Chemical Plants
  - 6.2.1.3. Gas Treatment and NGL Plants
  - 6.2.1.4. FPSO Platforms
  - 6.2.1.5. Storage Tank Vent Recovery
- 6.2.2. Others BPS Analysis/Market Attractiveness Analysis
6.3. Asia Pacific Flare Gas Recovery Systems Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. China Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 6.3.1.2. China Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 6.3.1.3. Japan Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 6.3.1.4. Japan Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 6.3.1.5. South Korea Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 6.3.1.6. South Korea Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 6.3.1.7. India Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 6.3.1.8. India Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 6.3.1.9. Southeast Asia Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 6.3.1.10. Southeast Asia Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 6.3.1.11. Rest of Asia Pacific Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 6.3.1.12. Rest of Asia Pacific Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Flare Gas Recovery Systems Market Outlook, 2018 - 2031

7.1. Latin America Flare Gas Recovery Systems Market Outlook, by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Small
  - 7.1.1.2. Large
  - 7.1.1.3. Very Large
  - 7.1.1.4. Medium
7.2. Latin America Flare Gas Recovery Systems Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Latin America Flare Gas Recovery Systems Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Brazil Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.2. Brazil Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.3. Mexico Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.4. Mexico Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.5. Argentina Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.6. Argentina Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.7. Rest of Latin America Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 7.3.1.8. Rest of Latin America Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Flare Gas Recovery Systems Market Outlook, 2018 - 2031

8.1. Middle East & Africa Flare Gas Recovery Systems Market Outlook, by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Small
  - 8.1.1.2. Large
  - 8.1.1.3. Very Large
  - 8.1.1.4. Medium
8.2. Middle East & Africa Flare Gas Recovery Systems Market Outlook, by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Petroleum Refineries
  - 8.2.1.2. Chemical Plants
  - 8.2.1.3. Gas Treatment and NGL Plants
  - 8.2.1.4. FPSO Platforms
  - 8.2.1.5. Storage Tank Vent Recovery
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Middle East & Africa Flare Gas Recovery Systems Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. GCC Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.2. GCC Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.3. South Africa Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.4. South Africa Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.5. Egypt Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.6. Egypt Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.7. Nigeria Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.8. Nigeria Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.9. Rest of Middle East & Africa Flare Gas Recovery Systems Market by Capacity, Value (US$ Bn) and Volume (Units), 2018 - 2031
  - 8.3.1.10. Rest of Middle East & Africa Flare Gas Recovery Systems Market by Application, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Manufacturer vs by Application Heatmap
9.2. Company Market Share Analysis, 2024
9.3. Competitive Dashboard
9.4. Company Profiles
- 9.4.1. Honeywell UOP
  - 9.4.1.1. Company Overview
  - 9.4.1.2. Product Portfolio
  - 9.4.1.3. Financial Overview
  - 9.4.1.4. Business Strategies and Development
- 9.4.2. Cimarron Energy, INC. (Jordan Technologies)
- 9.4.3. Wartsila
- 9.4.4. Zeeco, Inc
- 9.4.5. SoEnergy International
- 9.4.6. John Zink Hamworthy Combustion
- 9.4.7. Ramboll Group, Inc.

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations