Flare Gas Recovery Market was valued at USD 3.5 Billion in 2022 and is projected to reach USD 5.7 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
The Flare Gas Recovery Market witnessed significant growth from 2018 to 2022, driven by increasing regulatory pressure, environmental concerns, and technological advancements aimed at reducing the adverse effects of gas flaring in the oil and gas industry. During this period, governments across the globe began to impose stricter regulations and targets for reducing flaring emissions, encouraging oil and gas companies to adopt flare gas recovery solutions. The market was characterized by technological innovations such as the development of more efficient gas recovery systems, flare gas utilization technologies, and better integration of these solutions into existing infrastructure.
From 2018 to 2022, the demand for flare gas recovery systems grew steadily, as companies sought to mitigate environmental impacts and capture valuable hydrocarbons that were previously wasted through flaring. Technological advancements, including improvements in cryogenic recovery processes, membrane separation technologies, and gas-to-liquids (GTL) technologies, played a critical role in enhancing the efficiency and profitability of flare gas recovery systems. The market was also boosted by significant investments in sustainability and environmental protection initiatives, with both established and new players entering the market with innovative solutions.
Looking forward from 2023 to 2033, the Flare Gas Recovery Market is expected to witness even more robust growth due to a variety of factors. Demand is forecasted to rise as the global energy sector increasingly focuses on reducing carbon emissions, improving energy efficiency, and adhering to global sustainability goals. The market is also likely to benefit from the growing shift towards renewable energy and the decarbonization of industrial sectors, including the oil and gas industry. Additionally, the growing awareness of environmental and social governance (ESG) standards will push companies to invest more in technologies that reduce gas flaring and its environmental consequences.
In particular, the recovery of flare gas to generate power and/or produce valuable chemical feedstocks is projected to become a major focus area for both governments and private enterprises. Furthermore, continued advancements in flare gas recovery technologies and increasing interest in the monetization of recovered gas are expected to spur further market growth. The next decade will also see greater collaboration between energy companies and technology providers to deploy more sophisticated systems for flare gas utilization.
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Aggreko
Gulf Coast Green Energy
Cummins Inc.
Clarke Energy
Jenbacher
GE
Mesa Solutions
Woodstock Power
Genalta Power
EIA
Destinus Energy
Norwegian Energy Partners
Edina
GATTI SpA
APR Energy
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Flare Gas Recovery Market
Oil & Gas
Industrial
Commercial
Waste-to-Energy
Ships
Based on Types the Market is categorized into Below types that held the largest Flare Gas Recovery market share In 2023.
Flare-to-Power
Flare-to-Grid
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Flare Gas Recovery Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Flare Gas Recovery Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Flare Gas Recovery Market, By Type
6. Global Flare Gas Recovery Market, By Application
7. Global Flare Gas Recovery Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Flare Gas Recovery Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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