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Pulished Date April, 2021
ID: 10241
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Flare Monitoring Market Segmentation By mounting method (In Process – Mass Spectometers, Gas Chromatographs, Gas Analyser, Remote IR Imagers, MSIR Imagers), by industry (Refineries, Petrochemical, Onshore Oil & Gas Production Sites), and Region - Industry Forecast to 2026

Pulished: April, 2021
ID: 10241
Pages: 175

Flare Monitoring Market Value and Growth:

The flare monitoring market was valued at USD 760.4 million in 2021and is predicted to reach USD 1251.1 million in 2026, with a CAGR of 8.74% between 2021and 2026.

The requirement for monitoring systems Flare tracking is primarily driven by stringent environmental regulations, the benefits of direct flare monitoring systems, and a continued expansion of the oil and gas and petrochemical industries. The flare monitoring system is the ability of the system to detect the level of thermal radiation and the size of the flares generated by the industry. There is always a need to reliably monitor outbreaks to minimize the risks associated with large outbreaks. Burning can occur in the petrochemical, oil and gas, or other manufacturing industries due to equipment testing, unit failure, or unfortunate circumstances. The burning of gas contributes to climate change and also has an impact on the environment through the emission of CO2, black carbon and other harmful pollutants. The flare can be classified as start-up flaring, continuous production flaring, planned operational flaring, unplanned operational flaring, and safety flaring. Burning is generally defined as the process of controlled open flame combustion of gases, which are considered undesirable and excessive or harmful to the process and human safety. These gases are mainly generated by the drilling and exploration activities of the oil and gas, refinery, petrochemical and chemical industries, waste disposal/landfills, metal production sites, etc. VOCs, such as methane. Therefore, flare operators must install flare monitoring systems to ensure that toxic hydrocarbons are neutralized before being released into the air.

Recent Developments and Trends

  • Zeeco Inc., recently launched a new real-time industrial flare monitoring system called The FlareGuardian. Direct flare monitoring technology meets key requirements of the United States Environmental Protection Agency to ensure that flares such as those employed in a typical oil refinery meet mandatory emission standards and operate at maximum efficiency.
  • Strict government environmental regulations related to industrial gas emissions, requirement for a real-time flare monitoring system, requirement for improved safety standards and worldwide industry standardization, expansion of the flare monitoring system market. The worldwide environment is facing a huge problem of water pollution, air pollution and others. The government is cracking down around the world to curb this problem.

Flare Monitoring Market Drivers

Remote flare monitoring systems use multispectral infrared imaging technology, which in addition to providing remote monitoring of the combustion efficiency of the flare systems, also offers other essential measurements, such as SI (Smoke Index). These configurations further help operators comply with additional regulations, such as 40 CFR 63.670 (h) - “visible emissions monitoring” while ensuring optimal flare performance. These factors are predicted to contribute to the rapid expansion of optical and thermal imaging-based reflection monitoring systems in the near future.

Flare Monitoring Restraints:

Several end-user industries that do not rely heavily on open combustion systems for their operations focus on closed combustion processes. Compared to open combustion systems, closed combustion systems have a greater potential to minimize environmental damage. Furthermore, the implications of the World Bank's Zero Routine Flaring by 2030 initiative have directed the attention of industries towards reducing routine flaring and reusing produced gases by using them on-site or in combination, process them and send them to market. This is considered a positive and positive development and has dramatically escalated the attention of the world's leading countries to reducing annual economic losses resulting from the burning of resource-rich and useful gases.

Opportunities in the Flare Monitoring Market:

Manufacturers of flare monitoring systems are finding comparatively more expansion opportunities in emerging economies compared to mature markets in developed regions. In addition, the need to respect the environment has generated commitments from several countries to improve air quality and address the problems associated with rising levels of pollution. To meet regulatory standards, various large-scale industries in China have been forced to install emission monitoring devices to measure the concentration of harmful gases emitted by flares. This favorable government support will stimulate call for new installations of flare monitoring systems in China. Furthermore, the call for emissions monitoring is also escalating in the Middle East and parts of Africa due to the establishment of new oil and gas projects in these regions, which will stimulate the adoption of emission flare monitoring devices.

Flare Monitoring Challenges:

The strict government regulations related to emissions resulted in a few technological issues in the flare monitoring business. These technical challenges are associated with the maintenance of analytical instruments, the implications of the design and the integration of different technologies in a single solution.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2020 – 2025

Base Year

2020

Forecast Period

2021- 2026

CAGR

8.74%

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

 

 

 

Market Leaders Profiled

 

Siemens AG (Germany), ABB Ltd. (Switzerland), FLIR Systems (US), Thermo Fisher Scientific (US), Honeywell International Inc. (US), John Zink Company, LLC (US), LumaSense Technologies Inc. (US), Zeeco, Inc. (US), MKS Instruments (US), Land Instruments International Ltd. (UK), Eaton HERNIS Scan Systems AS (Norway), Fluenta (UK), Williamson Corporation (US), Extrel CMS, LLC (Pennsylvania, US), Providence Photonics LLC (US), Powertrol Inc. (US), and TKH Security Solutions (Netherlands).

 

 

Flare Monitoring Market Segmentation:

By mounting method:

  • In Process – Mass Spectrometers
  • Gas Chromatographs
  • Gas Analyzers
  • Remote – IR Imagers
  • MSIR Imagers

Ease of process monitoring, inexpensive compared to the technologies being manufactured, and compliance with most environmental standards are some of the main drivers of expansion in the remote flare monitoring market.

By industry:

  • Refineries
  • Petrochemical
  • Onshore Oil & Gas Production Sites

The refinery sector represents the largest share of the market for remote and in-process flare monitoring devices and systems. The oil and gas industry flare monitoring market is predicted to grow at the highest CAGR during the foreseen period, as a significant portion of worldwide gas flaring takes place in upstream activities.

Flare Monitoring Regional Analysis:

  • North America 
  • Europe 
  • Asia Pacific 
  • Latin America 
  • Middle East & Africa 

North America currently represents the majority of the market and will likely maintain its dominant position in 2026. The call for flare monitoring is predicted to remain strong in North America during the evaluation period. The oil and gas industry is undergoing structural reforms in which modernization of facilities is a key area of ​​intervention. It is predicted to create lucrative opportunities for market players during the foreseen period. During this time, Europe has become the second largest market for flare monitoring. Currently, the market in Europe exceeds 150 million dollars. Also, it is likely to show a healthy expansion rate for years to come. The APAC flare monitoring market is also predicted to show an enormous expansion rate during the review period. This is mainly due to the substantial expansion of the oil and gas sector in the APAC region. India and China have become two of the world's largest oil and gas consumers and present attractive expansion opportunities for the worldwide flare monitoring market.

Flare Monitoring Market Key Players:

Some of the major players operating in the global flare monitoring market are Siemens AG (Germany), ABB Ltd. (Switzerland), FLIR Systems (US), Thermo Fisher Scientific (US), Honeywell International Inc. (US), John Zink Company, LLC (US), LumaSense Technologies Inc. (US), Zeeco, Inc. (US), MKS Instruments (US), Land Instruments International Ltd. (UK), Eaton HERNIS Scan Systems AS (Norway), Fluenta (UK), Williamson Corporation (US), Extrel CMS, LLC (Pennsylvania, US), Providence Photonics LLC (US), Powertrol Inc. (US), and TKH Security Solutions (Netherlands).

 

1. Introduction                             

              1.1 Market Definition                  

              1.2 Scope of the report               

              1.3 Study Assumptions               

              1.4 Base Currency, Base Year and Forecast Periods                       

2. Research Methodology                                       

              2.1 Analysis Design                      

              2.2 Research Phases                    

                             2.2.1 Secondary Research          

                             2.2.2 Primary Research 

                             2.2.3 Data Modelling    

                             2.2.4 Expert Validation 

              2.3 Study Timeline                       

3. Report Overview                                    

              3.1 Executive Summary              

              3.2 Key Inferencees                     

4. Market Dynamics                                   

              4.1 Impact Analysis                      

                             4.1.1 Drivers     

                             4.1.2 Restaints 

                             4.1.3 Opportunities       

              4.2 Regulatory Environment                    

              4.3 Technology Timeline & Recent Trends                         

5. Competitor Benchmarking Analysis                                

              5.1 Key Player Benchmarking                   

                             5.1.1 Market share analysis       

                             5.1.2 Products/Service  

                             5.1.3 Regional Presence

              5.2 Mergers & Acquistion Landscape                   

              5.3 Joint Ventures & Collaborations                     

6. Market Segmentation                                          

              6.1 Flare Monitoring Market, By Mounting Method                      

                             6.1.1 In Process – Mass Spectometers   

                             6.1.2 Gas Chromatographs        

                             6.1.3 Gas Analyzers       

                             6.1.4 Remote – IR Imagers         

                             6.1.5 MSIR Imagers       

                             6.1.6 Market Size Estimations & Forecasts (2019-2024) 

                             6.1.7 Y-o-Y Growth Rate Analysis            

                             6.1.8 Market Attractiveness Index          

              6.2 Flare Monitoring Market, By Industry                          

                             6.2.1 Refineries

                             6.2.2 Petrochemical      

                             6.2.3 Onshore Oil & Gas Production Sites           

                             6.2.4 Market Size Estimations & Forecasts (2019-2024) 

                             6.2.5 Y-o-Y Growth Rate Analysis            

                             6.2.6 Market Attractiveness Index          

7. Geographical Landscape                                     

              7.1 Global Identity Governance and Administration Market, by Region                            

              7.2 North America - Market Analysis (2018 - 2024)                        

                             7.2.1 By Country            

                                           7.2.1.1 USA

                                           7.2.1.2 Canada

                             7.2.2 By Mounting Method        

                             7.2.3 By Industry            

              7.3 Europe                      

                             7.3.1 By Country            

                                           7.3.1.1 UK

                                           7.3.1.2 France

                                           7.3.1.3 Germany

                                           7.3.1.4 Spain

                                           7.3.1.5 Italy

                                           7.3.1.6 Rest of Europe

                             7.3.2 By Mounting Method        

                             7.3.3 By Industry            

              7.4 Asia Pacific                

                             7.4.1 By Country            

                                           7.4.1.1 China

                                           7.4.1.2 India

                                           7.4.1.3 Japan

                                           7.4.1.4 South Korea

                                           7.4.1.5 South East Asia

                                           7.4.1.6 Australia & NZ

                                           7.4.1.7 Rest of Asia-Pacific

                             7.4.2 By Mounting Method        

                             7.4.3 By Industry            

              7.5 Latin America                         

                             7.5.1 By Country            

                                           7.5.1.1 Brazil

                                           7.5.1.2 Argentina

                                           7.5.1.3 Mexico

                                           7.5.1.4 Rest of Latin America

                             7.5.2 By Mounting Method        

                             7.5.3 By Industry            

              7.6 Middle East and Africa                       

                             7.6.1 By Country            

                                           7.6.1.1 Middle East

                                           7.6.1.2 Africa

                             7.6.2 By Mounting Method        

                             7.6.3 By Industry            

8. Key Player Analysis                                

              8.1 Siemens AG              

                             8.1.1 Business Description         

                             8.1.2 Products/Service  

                             8.1.3 Financials

                             8.1.4 SWOT Analysis     

                             8.1.5 Recent Developments       

                             8.1.6 Analyst Overview 

              8.2 ABB Ltd                      

              8.3 Thermo Fisher Scientific                     

              8.4 FLIR Systems                           

              8.5 Honeywell International Inc.                           

              8.6 John Zink Company, LLC                     

              8.7 LumaSense Technologies Inc                           

              8.8 Zeeco,Inc                  

              8.9 MKS Instruments                   

              8.10 Williamson Corporation                   

9. Market Outlook & Investment Opportunities                             

Appendix                                       

              List of Tables                   

              List of Figures                 

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  • Global Flare Monitoring Market By Region, From 2021-2026 ( USD Billion )

  • Global Flare Monitoring Market By Mounting Method, From 2021-2026 ( USD Billion )

  • Global In Process – Mass Spectrometers Market By Region, From 2021-2026 ( USD Billion )

  • Global Gas Chromatographs Market By Region, From 2021-2026 ( USD Billion )

  • Global Gas Analyzers Market By Region, From 2021-2026 ( USD Billion )

  • Global Remote – IR Imagers Market By Region, From 2021-2026 ( USD Billion )

  • Global MSIR Imagers Market By Region, From 2021-2026 ( USD Billion )

  • Global Flare Monitoring Market By Industry, From 2021-2026 ( USD Billion )

  • Global Refineries Market By Region, From 2021-2026 ( USD Billion )

  • Global Petrochemical Market By Region, From 2021-2026 ( USD Billion )

  • Global Onshore Oil & Gas Production Sites Market By Region, From 2021-2026 ( USD Billion )

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