About Gas Flares
Gas flares are the gas combustion devices which are used in the industrial plants such as chemical, natural gas processing, petroleum refineries and others. It supports the combustion of gas generated during the industrial processes. Moreover, it eliminates the unwanted gasses. However, it produces large amount of greenhouse gasses. Due to the technical regulatory and some constraints the practice of gas flaring continues. The components in flaring system include flashback seal drum, liquid knockout drum for removal of oil and water, and flashback prevention unit.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.7% |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that Asia Pacific Manufacturers will contribute the maximum growth to Global Gas Flares market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Gasco (United Arab Emirates), Unit Birwelco (United Kingdom), GE (United States), Geotechnical Instruments (UK) Ltd (United Kingdom), Alfresco Gas Flares (Australia), ZEECO (United States), ABM Combustion (Australia), Ashish Engineering Works (India), MRW Technologies (United States) and Coughlin Equipment (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Aereon (United States), CRA (India) and LMS ENERGY (Australia).
Segmentation Overview
AMA Research has segmented the market of Global Gas Flares market by Type (Utility (Pipe) flares, Steam Assist flares, Air Assist flares, Gas Assist flares, High Pressure Staged flares, Enclosed Ground flares and Pit/Ground flares), Application (Gas treatment plants, Gas well testing, LNG plants, Oil refining, Landfill gas (LFG), Sewage lagoons, Digestor gas, Coal seam methane (CSM), Coal mine drainage, Metal smelting and Biofuels) and Region.
On the basis of geography, the market of Gas Flares has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Flame supporting structure, the sub-segment i.e. Self-Supporting will boost the Gas Flares market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Benefits of Direct Flare Monitoring Systems
Market Growth Drivers:
Usage of Gas Flares in Various End use Industries Such as Chemical, Oil Refineries and Others and Rising Popularity of Eliminating Unwanted Gas by Flaring
Challenges:
Production of greenhouse gasses leading to global warming. These gas flaring are affecting the local population which is resulting in severe health issues. It is also most challenging and environmental problem which is being faced by the world. Hence, these problems may hamper the market growth.
Restraints:
High maintenance & Installation cost
Opportunities:
Growing Industrialisation in Developing Economies
Market Leaders and their expansionary development strategies
On 19th May 2022, Calvert Group Belgium (Calvert), a leading provider of innovative project delivery solutions for the energy industry, announced the acquisition of Calvert and its exclusive licence to patent gas to liquid (GTL) technology for converting flare gas and stranded gas to synthetic liquids such as crude oil or diesel. Calvert's GTL process has been recognized as one of the leading technologies in small scale GTL for flare gas recovery by the World Bank's Global Gas Flaring Reduction Partnership (GGFR).
On 3rd November 2021, Crusoe Energy has launched a service that reduces waste at oil wells by harnessing and utilising energy from gas flares. The Digital Flare Mitigation service will use energy generated from stranded energy sources such as gas flares, where natural gas is often simply burned at the oil well because collecting or converting it to electricity is uneconomical. Instead of being wasted, the energy will be used on Island Cloud, an Nvidia-powered GPU-centric hardware platform, to perform cryptocurrency mining, rendering, machine learning, and other use cases.
Governments in oil-producing countries must play a critical role in reducing flaring and venting. They are uniquely able to create an operating environment that allows, incentivizes, and encourages gas flaring reduction through effective regulation and policies. While many countries have regulations in place to address flaring and venting, not all policy approaches have proven to be effective in reducing this wasteful and polluting practice.
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.