Flare Gas Recovery Systems Market: By Capacity, 5 to 10 bars, 10 to 20 bars, and 20 to 60 bars ), By Application, and Geography
Flare Gas Recovery Systems Market: By Capacity, 5 to 10 bars, 10 to 20 bars, and 20 to 60 bars ), By Application, and Geography
Flare Gas Recovery Systems Market size was valued at US$ 3,564.3 million in 2023 and is poised to grow at a significant CAGR of 7.8% from 2024-2030. Gas flaring is caused because of the associated gas coming from industrial processes including oil and gas recovery and petrochemical production. It causes smart greenhouse emissions. According to data, greenhouse gases are measured in carbon dioxide equivalents (CO2e and we collectively emit around 50 billion tonnes of CO2e each year which is more than 40% higher than emissions in 1990, which were around 35 billion tonnes. Flare Gas Recovery Systems are very useful to minimize or eliminate gas flaring. Flare Gas Recovery Systems are specialized to recover and repurpose gasses and emissions, such as methane/LPG and sulfur dioxide. The recovered gases from the recovery system can be recycled or reused.
The market demand for will boost the overall market growth due to end-use industries, the increasing cost-effectiveness of flare gas applications, and increasing power generation applications. The global market players such as Honeywell UOP, Cimarron Energy, Wärtsilä, SoEnergy International, John Zink Hamworthy Combustion, etc are continuously exploring to scale, and merge and are influencing the market growth. Moreover, the increasing rate of oil and gas production will also drive the market. However, the high maintenance cost and high installation cost is the major initial barrier to gaining productivity in the long run. Hence, it is the major restrain in the market.
In Dec 2021, Cimarron received a DOE grant for flare technology. In Feb 2022, Baker Hughes Collaborated with Egyptian General Petroleum Corporation on a Flare Recovery Initiative.
Study Period
2024-2030Base Year
2023CAGR
7.8%Largest Market
North AmericaFastest Growing Market
Europe
Government initiatives in emerging countries like India and Japan are boosting the overall growth in the flare gas recovery systems market. The expansion of the oil and gas sector in countries further influences government and international agencies to take action and initiatives regarding flare gas recovery systems. Recently, the World Bank Group’s EHS guidelines announced that the flare gas should be zero by 2025. Moreover, a large number of natural gas and oil companies are also taking initiatives to expand in the market.
Based on regions, the market share is divided into North America, Asia-Pacific, Europe, the Middle East, and the African region. The flare gas recovery systems market in North America is likely to hold a significant revenue share in 2022 and in the following years, it is predicted to increase rapidly. It is attributed to rising awareness about carbon emissions and environmental conservation, and the increasing adoption rate of flare gas recovery systems for power generation applications. Europe is expected to witness negative market growth due to saturation in the market and low natural gas production.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 3,564.3 million |
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Market CAGR |
7.8% |
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By Capacity |
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By Application |
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By Region |
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The global flare gas recovery systems market size was valued at US$ 3,564.3 million in 2023 and is projected to grow at a CAGR of 7.8% from 2024 to 2030.
The flare gas recovery systems market is poised to grow at a significant CAGR of 7.8% over 2024-2030
The leading players in the global flare gas recovery systems market are Honeywell UOP, Cimarron Energy, Wärtsilä, SoEnergy International, John Zink Hamworthy Combustion, Ramboll Group, Inc., Zeeco, Frames, Baker Hughes, and MPR Industries.
| 1. Executive Summary |
| 2. Global Flare Gas Recovery Systems Market Introduction |
| 2.1. Global Flare Gas Recovery Systems Market – Taxonomy |
| 2.2. Global Flare Gas Recovery Systems Market –Definitions |
| 2.2.1. By Capacity |
| 2.2.2. By Application |
| 2.2.3. By Region |
| 3. Global Flare Gas Recovery Systems Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Flare Gas Recovery Systems Market Dynamic Factors - Impact Analysis |
| 3.6. Global Flare Gas Recovery Systems Market – Competition Landscape |
| 3.7. Epidemiology |
| 4. Global Flare Gas Recovery Systems Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Flare Gas Recovery Systems Market, By Capacity, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1. Up to 5 bars (small) |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. 5 to 10 bars (medium) |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. 10 to 20 bars (large) |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. 20 to 60 bars (very large) |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6. Global Flare Gas Recovery Systems Market, By Application, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1. Oil & Gas |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Chemical Plants |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Storage Tanks |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Bio Gas & Landfill |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Industrial flue gas treatment |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 7. Global Flare Gas Recovery Systems Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Global Flare Gas Recovery Systems Market - Opportunity Analysis Index, By Capacity, By Application, and Region, 2024 - 2030 |
| 8. North America Flare Gas Recovery Systems Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1. Capacity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Up to 5 bars (small) |
| 8.1.2. 5 to 10 bars (medium) |
| 8.1.3. 10 to 20 bars (large) |
| 8.1.4. 20 to 60 bars (very large) |
| 8.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 8.2.1. Oil & Gas |
| 8.2.2. Chemical Plants |
| 8.2.3. Storage Tanks |
| 8.2.4. Bio Gas & Landfill |
| 8.2.5. Industrial flue gas treatment |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. USA |
| 8.3.2. Canada |
| 8.4. North America Flare Gas Recovery Systems Market - Opportunity Analysis Index, By Capacity, By Application, and Country, 2024 - 2030 |
| 8.5. North America Flare Gas Recovery Systems Market Dynamics – Trends |
| 9. Europe Flare Gas Recovery Systems Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1. Capacity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Up to 5 bars (small) |
| 9.1.2. 5 to 10 bars (medium) |
| 9.1.3. 10 to 20 bars (large) |
| 9.1.4. 20 to 60 bars (very large) |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Oil & Gas |
| 9.2.2. Chemical Plants |
| 9.2.3. Storage Tanks |
| 9.2.4. Bio Gas & Landfill |
| 9.2.5. Industrial flue gas treatment |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Germany |
| 9.3.2. UK |
| 9.3.3. France |
| 9.3.4. Spain |
| 9.3.5. Italy |
| 9.3.6. Rest of Europe |
| 9.4. Europe Flare Gas Recovery Systems Market - Opportunity Analysis Index, By Capacity, By Application, and Country, 2024 - 2030 |
| 9.5. Europe Flare Gas Recovery Systems Market Dynamics – Trends |
| 10. Asia-Pacific Flare Gas Recovery Systems Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 10.1. Capacity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Up to 5 bars (small) |
| 10.1.2. 5 to 10 bars (medium) |
| 10.1.3. 10 to 20 bars (large) |
| 10.1.4. 20 to 60 bars (very large) |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Oil & Gas |
| 10.2.2. Chemical Plants |
| 10.2.3. Storage Tanks |
| 10.2.4. Bio Gas & Landfill |
| 10.2.5. Industrial flue gas treatment |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. China |
| 10.3.2. India |
| 10.3.3. Japan |
| 10.3.4. ASEAN |
| 10.3.5. Australia & New Zealand |
| 10.3.6. Rest of Asia-Pacific |
| 10.4. Asia-Pacific Flare Gas Recovery Systems Market - Opportunity Analysis Index, By Capacity, By Application, and Country, 2024 - 2030 |
| 10.5. Asia-Pacific Flare Gas Recovery Systems Market Dynamics – Trends |
| 11. Latin America Flare Gas Recovery Systems Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 11.1. Capacity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Up to 5 bars (small) |
| 11.1.2. 5 to 10 bars (medium) |
| 11.1.3. 10 to 20 bars (large) |
| 11.1.4. 20 to 60 bars (very large) |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Oil & Gas |
| 11.2.2. Chemical Plants |
| 11.2.3. Storage Tanks |
| 11.2.4. Bio Gas & Landfill |
| 11.2.5. Industrial flue gas treatment |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Brazil |
| 11.3.2. Mexico |
| 11.3.3. Rest of Latin America |
| 11.4. Latin America Flare Gas Recovery Systems Market - Opportunity Analysis Index, By Capacity, By Application, and Country, 2024 - 2030 |
| 11.5. Latin America Flare Gas Recovery Systems Market Dynamics – Trends |
| 12. Middle East and Africa Flare Gas Recovery Systems Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 12.1. Capacity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Up to 5 bars (small) |
| 12.1.2. 5 to 10 bars (medium) |
| 12.1.3. 10 to 20 bars (large) |
| 12.1.4. 20 to 60 bars (very large) |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. Oil & Gas |
| 12.2.2. Chemical Plants |
| 12.2.3. Storage Tanks |
| 12.2.4. Bio Gas & Landfill |
| 12.2.5. Industrial flue gas treatment |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Gulf Cooperation Council (GCC) Countries |
| 12.3.2. South Africa |
| 12.3.3. Rest of MEA |
| 12.4. MEA Flare Gas Recovery Systems Market - Opportunity Analysis Index, By Capacity, By Application, and Country, 2024 - 2030 |
| 12.5. MEA Flare Gas Recovery Systems Market Dynamics – Trends |
| 13. Competition Landscape |
| 13.1. Strategic Dashboard of Top Market Players |
| 13.2. Company Profiles (Introduction, Financial Analysis, Key Capacities, Key Developments, Strategies, and SWOT Analysis) |
| 13.2.1. Honeywell UOP |
| 13.2.2. Cimarron Energy |
| 13.2.3. Wärtsilä |
| 13.2.4. SoEnergy International |
| 13.2.5. John Zink Hamworthy Combustion |
| 13.2.6. Ramboll Group, Inc. |
| 13.2.7. Zeeco |
| 13.2.8. Frames |
| 13.2.9. Baker Hughes |
| 13.2.10. MPR Industries |
| 14. Research Methodology |
| 15. Key Assumptions and Acronyms |
Key Market Players
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