According to Future Market Insights (FMI), the Europe flare gas recovery system (FGRS) industry is projected to reach US$ 158.1 million in 2023. Over the assessment period from 2023 to 2033, flare gas recovery system sales in Europe are likely to rise at 4.3% CAGR, taking the total market value to US$ 242.5 million by 2033.
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Increasing onshore and offshore oil & gas drilling activities and the rising need for reducing environmental impact are key factors driving the European flare gas recovery system industry.
Demand for flare gas recovery systems across Europe is anticipated to rise steadily as companies are pressured to limit flaring and lessen their adverse environmental effects.
Companies across countries such as the United Kingdom, France, and Germany are investing in FGRS due to the strict government restrictions and emission standards that are being imposed. This, in turn, is providing impetus for the development of the target market.
Flare gas recovery systems enable oil & gas companies to effectively capture flare gas that would otherwise be burned or vent into the atmosphere. Hence, they are becoming essential for reducing environmental impacts such as air pollution and climate change.
The rising usage of energy resources that were previously wasted is another prominent factor uplifting flare gas recovery system demand in Europe.
The European market will also gain from developments in technology. Improved monitoring and control systems, more effective capture technologies, and better storage and utilization alternatives are being integrated into flare gas recovery systems.
Key Takeaways from the Europe Flare Gas Recovery System Market Report:
- By technology, compressor segment is anticipated to hold a prominent share of the target market during the assessment period.
- Based on application, the onshore oil and gas fields segment is projected to generate significant revenues in the market.
- The market for flare gas recovery systems in Germany is set to reach US$ 43.8 million by 2033.
- Flare gas recovery system demand in the United Kingdom is anticipated to rise at a CAGR of 5.2% through 2033.
“Flare gas recovery system industry is set to witness a positive growth trajectory across Europe due to increasing oil & gas exploration activities and the rising need for reducing emission of greenhouse gasses. Key manufacturers are partnering and collaborating to expand their reach,” says an FMI lead analyst.
Key Companies Profiled
- Baker Hughes Company
- John Zink Hamworthy Combustion
- Honeywell UOP
- Cimarron Energy, Inc. ( Jordan Technologies)
- Busch NSB AG
Key companies are collaborating and developing strategic alliances with other industry participants, including engineering firms, energy corporations, and technology suppliers. These collaborations aid in utilizing complementing skills, breaking into new markets, and creating creative solutions. They might also work with governments and environmental organizations to support efforts to reduce emissions.
European participants in the flare gas recovery systems market frequently increase their market share in developing nations. These nations have high flare gas volumes, such as those that produce a lot of oil and gas. They set up local manufacturing plants, distribution systems, and service facilities to offer timely assistance and take advantage of local demand.
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- In May 2020, Cimarron completed its purchase of Aereon, a global industry leader in emissions management technologies and services for the midstream, upstream, downstream gas and infrastructure markets.
- In May 2021, Navitas Midstream Partners, LLC purchased from Honeywell University of Phoenix a 200-million-cubic-foot-per-day gas extraction facility for extracting natural gas liquids (NGLs) from natural gas generated in multiple counties in the Permian Basin.
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In its new report, Future Market Insights (FMI) offers an unbiased analysis of the Europe flare gas recovery system market, analyzing historical demand from 2018 to 2022 and forecast statistics for 2023 to 2033.
The study reveals market growth projections on the target market based on operating pressure (up to 5 bar (small), 5 to 10 bar (medium), 10 to 20 bar (large), 20 to 60 bar (very large), configuration (modular and skid mounted) technology (compressor and ejector based), flow rate (100 to 250 MSCFD, 250 to 500 MSCFD, 500 to 750 MSCFD, and 750 to 1000 MSCFD), application (onshore oil and gas fields, offshore platforms, remote standard gas fields, and biogas and land fill gas application), and country (Germany, Italy, France, United Kingdom, Spain, Belgium, Netherlands, Luxembourg, Russia, and Rest of Europe)
Europe Flare Gas Recovery System 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)
- Skid Mounted
- Liquid Ring
- Siding Vane
- Ejector Based
By Flow Rate
- 100 to 250 MSCFD
- 250 to 500 MSCFD
- 500 to 750 MSCFD
- 750 to 1000 MSCFD
- Onshore Oil and Gas Fields
- Offshore Platforms
- Remote Standard Gas Fields
- Biogas and Land fill Gas Application
- United Kingdom
- Rest of Europe
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About the Energy, Mining, Oil & Gas Division at Future Market Insights (FMI)
The Oil & Gas division of Future Market Insights (FMI) Research offers a novel approach and innovative perspective in analyzing the oil & gas market. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects
About the Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
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