The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Flare Monitoring Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
Flare Monitoring Industry Analytical Overview (2024-2030): Drivers, Opportunities, Challenges, and Trends,
According to the latest report, Flare Monitoring Market size was valued at around USD 1.3 billion in 2023 & is estimated to reach around USD 2.5 billion by 2030. The market is also expected to grow at a CAGR of around 10.1% during the forecast period, i.e., 2024-30. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2024 to 2030.
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What is Included in Flare Monitoring Market Segmentation?
The report has segmented the market into the following categories:
By Component
- Hardware
- By Mounting Method
- Remote
- Infrared (IR) Flame Detectors- Market Size & Forecast 2019-2030F, (USD million)
- Multi-Spectrum Infrared (MSIR) Flame Detectors- Market Size & Forecast 2019-2030F, (USD million)
- Ultraviolet (UV) Flame Detectors- Market Size & Forecast 2019-2030F, (USD million)
- Single Infrared (IR) Flame Detectors- Market Size & Forecast 2019-2030F, (USD million)
- Visual Flame Detectors- Market Size & Forecast 2019-2030F, (USD million)
- In-Process
- Calorimeter- Market Size & Forecast 2019-2030F, (USD million)
- Spectrometer- Market Size & Forecast 2019-2030F, (USD million)
- Gas Chromatograph- Market Size & Forecast 2019-2030F, (USD million)
- Flow Meter- Market Size & Forecast 2019-2030F, (USD million)
- Gas Analyser- Market Size & Forecast 2019-2030F, (USD million)
- Software- Market Size & Forecast 2019-2030F, (USD million)
- Services- Market Size & Forecast 2019-2030F, (USD million)
- Remote
- By Mounting Method
By End-User
- Refineries- Market Size & Forecast 2019-2030F, (USD million)
- Chemical and Petrochemical Plants- Market Size & Forecast 2019-2030F, (USD million)
- Natural-Gas Processing Plants- Market Size & Forecast 2019-2030F, (USD million)
- Offshore Exploration Platforms- Market Size & Forecast 2019-2030F, (USD million)
- Well Heads and Landfills- Market Size & Forecast 2019-2030F, (USD million)
- Metals and Steel Industry- Market Size & Forecast 2019-2030F, (USD million)
Out of these refineries segment is the largest end-user of the Global Flare Monitoring Market. This is due to the strict regulations surrounding the industries working with petroleum products. Refining petroleum products releases harmful gases which are to be disposed of safely. Thus, large investments are made into flare monitoring to ensure optimum flare performance and safe disposal of gases. Failing to which would not only harm the environment but also attract hefty fines. Additionally, data from flare monitoring such as gas composition, and gas flow can help companies optimize their process and improve efficiency to minimize waste.
By Deployment Location
- On-shore- Market Size & Forecast 2019-2030F, (USD million)
- Off-shore- Market Size & Forecast 2019-2030F, (USD million)
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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Key Factor Driver Flare Monitoring Industry Growth by 2030
Strict Regulations Driving Market Growth – Global warming and climate change have been a growing concern for the world, and industrial emissions are a significant contributor to pollution and greenhouse gases which are the main cause of global warming. This instigated various debates and protests against the inappropriate disposal of industrial waste in the environment. Prompted by the reports from environmental agencies and international organizations, governments around the globe made the regulatory framework surrounding industrial emissions stricter, to lower the emissions and the negative impacts of industrial growth on the environment. Strict regulations nudged the industries to dispose of the gases more responsibly, which requires constant monitoring of emissions from flare stacks, increasing the demand for monitoring equipment, which uses various technologies to observe the combustion efficiency to ensure the gases are properly burnt before releasing into the environment.
Who are the Key Players Operating in the Flare Monitoring Industry?
The top companies of the Flare Monitoring market ruling the industry are:
- Zeeco
- Ametek Land
- Teledyne Flir
- Providence Photonics
- Extrel CMS
- Emerson
- Thermo Fisher Scientific Inc.
- Fluenta
- Baker Hughes
- Accuopt
- ABB (Analytical Solution and Products)
- Williamson IR
- Advanced Energy
- MKS Instruments
- Hikvision
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FAQs (Frequently Ask Questions)
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