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Global Flare Monitoring Market By Mounting Method, By End-Use Industry, By Region, Competition, Forecast & Opportunities, 2024

Global Flare Monitoring Market By Mounting Method, By End-Use Industry, By Region, Competition, Forecast & Opportunities, 2024

  • May 2019
  • 130 pages
  • ID: 5778903
  • Format: PDF
  • By TechSci Research

Summary

Table of Contents

Global Flare Monitoring Market By Mounting Method (In-Process and Remote), By End-Use Industry (Oil & Gas Production Sites, Refineries & Petrochemical and Others), By Region, Competition, Forecast & Opportunities, 2024

Global flare monitoring market is forecast to exhibit a CAGR of over 8% during 2019-2024, growing from $ 773 million in 2018 to $ 1219 million by 2024.Flare monitoring is the ability of a system to detect the level of thermal radiations and the size of flare generated during the removal of unwanted gases in various processes by the industry.

The flare monitoring market is expected to grow substantially, backed by factors such as strict environment regulations aimed at curbing harmful emissions and increasing combustion efficiency of flare systems, benefits offered by remote flare monitoring like close monitoring of flare, prevention of unplanned over pressuring of plant equipment, etc.
In terms of end-use industry, global flare monitoring market is categorized into oil & gas production sites, refineries & petrochemicals and others.Of these industries, refineries & petrochemicals segment accounted for majority share in global flare monitoring market in 2018, on account of growing consumption of petroleum & petrochemicals products.

The segment is anticipated to maintain its dominating market position during the forecast period. The oil & gas production sites category is likely to witness the fastest growth in global market during 2019-2024, owing to increasing exploration & production activities in the oil & gas industry, globally.
In terms of region, global flare monitoring market is categorized into Asia-Pacific, North America, Europe, Middle East & Africa and South America. North America dominates global flare monitoring market, backed by growing government regulations to address poisonous and combustible gases coming out from industries.

Years considered for this report:

Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024

Objective of the Study:

• To analyze and forecast global flare monitoring market size.
• To forecast global flare monitoring market based on mounting method, end-use industry and regional distribution.
• To identify drivers and challenges for global flare monitoring market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global flare monitoring market.
• To conduct the pricing analysis for global flare monitoring market.
• To identify and analyze the profile of leading players operating in global flare monitoring market.
Some of the major companies operating in global flare monitoring market are Honeywell International Inc., Siemens AG, Emerson Electric Company, ABB Ltd., Ametek Inc., Thermo Fisher Scientific Inc., Zeeco Inc., Lumasense Technologies Inc., Endress+Hauser Ag and KJohn Zink Company, LLC.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of flare monitoring system and solution providers across the globe.

Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.

Through this technique, the analyst was able to include the system and solution providers which could not be identified due to the limitations of secondary research. The analyst examined the product offerings, distribution channels and presence of all major system and solution providers across the globe.
The analyst calculated global flare monitoring market size by using a top down approach, where data for various applications across various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.

Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.

Key Target Audience:

• Flare monitoring system and solution providers and other stakeholders
• Flare monitoring end user industries
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to flare monitoring market
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as flare monitoring system and solution providers, suppliers and end users. The study would also help them in identifying which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market.

Report Scope:

In this report, global flare monitoring market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, by Mounting method:
o In-Process
- Mass Spectrometers
- Gas Chromatographs
- Gas Analyzers
- Flowmeters
- Calorimeters
- Others
o Remote
- Thermal (IR) Imagers
- Multi Spectrum Infrared (MSIR) Imagers
- Others
• Market, by End-use industry
o Oil & Gas Production Sites
o Refineries & Petrochemical
o Others
- Landfills
- Metal & Steel Production
• Market, by Region
o North America
- United States
- Canada
- Mexico
o Europe
- Russia
- Norway
- United Kingdom
- Germany
- Italy
o Middle East & Africa
- Saudi Arabia
- Iraq
- Iran
- Algeria
o Asia-Pacific
- China
- India
- Indonesia
- Australia
- Japan
- Malaysia
o South America
- Brazil
- Colombia
- Argentina

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global flare monitoring market.

Available Customizations:

With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.

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