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Flare Gas Recovery System Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: December, 2022
No of Pages: 164
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Flare Gas Recovery System Market
1. Introduction
The oil and gas industry is constantly searching for ways to reduce costs and increase efficiency. One area that has seen significant advances in recent years is the recovery of flare gas.

Flare gas recovery systems (FGRS) are designed to capture and recycle the gas that is burned off during the oil and gas production process. By doing so, these systems can help operators save money and reduce their environmental impact.

There are a number of different FGRS technologies on the market, each with its own advantages and disadvantages. In this blog post, we will take a look at some of the most popular FGRS systems and compare their features.

One of the most common types of FGRS is the gravity separator. These systems use the difference in density between gas and liquids to separate the two. The gas is then collected at the top of the separator while the liquids are drained off at the bottom.

Gravity separators are simple and effective, but they have a few limitations. First, they can only be used with relatively light gases. Second, they require a large amount of space.

Another type of FGRS is the centrifugal separator. These systems use centrifugal force to separate gas and liquids. The gas is collected in the center of the separator while the liquids are forced to the outside.

Centrifugal separators are more versatile than gravity separators and can be used with a wider range of gases. However, they are more expensive and require more maintenance.

The last type of FGRS we will discuss is the membrane separator. These systems use a semipermeable membrane to separate gas and liquids. The gas is collected on one side of the membrane while the liquids are collected on the other.

Membrane separators are the most versatile type of FGRS and can be used with a wide range of gases. They are also relatively low maintenance. However, they are the most expensive type of FGRS.

No matter which type of FGRS you choose, you can be sure that it will help you reduce your costs and your environmental impact.

2. The Market for Flare Gas Recovery Systems
Flare gas recovery systems, also known as FGRS, are designed to capture and recycle the gas that is burned off during the flaring process. While this gas is typically composed of methane, hydrogen, and other hydrocarbons, it can also contain a variety of other pollutants, including carbon dioxide, sulfur dioxide, and nitrogen oxides.

FGRS can be used to recover and recycle the gas that would otherwise be lost during flaring, and they can also be used to control the emissions of pollutants from the flaring process. In addition, FGRS can be used to power on-site generation facilities, providing a cleaner and more efficient way to generate electricity.

The market for flare gas recovery systems is expected to grow in the coming years as the need for cleaner and more efficient energy production increases. This growth will be driven by a variety of factors, including new regulations on flaring, the increasing cost of natural gas, and the need for cleaner energy production in general.

There are a variety of different types of flare gas recovery systems available on the market, and the most appropriate type for a given application will depend on a number of factors, including the type and composition of the gas being flared, the desired capacity of the system, and the specific needs of the facility.

When choosing a flare gas recovery system, it is important to consider the long-term cost of ownership, as well as the initial cost of the system. The long-term cost of ownership includes the cost of operating and maintaining the system, as well as the cost of any necessary repairs or replacements.

The initial cost of the system will vary depending on the type and size of the system, as well as the specific needs of the facility. For example, a small, simple system may be less expensive than a larger, more complex system.

The market for flare gas recovery systems is expected to grow in the coming years as the need for cleaner and more efficient energy production increases. This growth will be driven by a variety of factors, including new regulations on flaring, the increasing cost of natural gas, and the need for cleaner energy production in general.

There are a variety of different types of flare

3. The Technology of Flare Gas Recovery Systems
Flare gas recovery systems are designed to capture and utilize the waste gases that are produced during the burning of hydrocarbons in flares. These systems can be used to generate power, to produce heat, or to create valuable chemicals. The technology of flare gas recovery systems has evolved rapidly in recent years, and there are now a number of different types of systems available on the market.

The most common type of flare gas recovery system is the power generation system. These systems use the waste gases to generate electricity, which can be used to power equipment or to offset the cost of running the facility. There are a number of different power generation technologies available, including combustion turbines, fuel cells, and microturbines.

Another type of flare gas recovery system is the heat recovery system. These systems capture the waste heat from the burning of hydrocarbons and use it to generate steam or hot water. This steam or hot water can then be used to power equipment or to offset the cost of running the facility.

The third type of flare gas recovery system is the chemical recovery system. These systems capture the waste gases and use them to produce valuable chemicals. These chemicals can be used in a variety of industries, including the production of plastics, pharmaceuticals, and even cosmetics.

The technology of flare gas recovery systems has evolved rapidly in recent years, and there are now a number of different types of systems available on the market. These systems can be used to generate power, to produce heat, or to create valuable chemicals.

4. The Economics of Flare Gas Recovery Systems
The flare gas recovery system market was valued at USD 1.27 billion in 2019 and is projected to reach USD 1.75 billion by 2025, at a CAGR of 5.5% during the forecast period. The market is driven by the need to reduce environmental pollution and the rising demand for natural gas.

However, the high initial investment cost and the lack of awareness about the technology are restraining the market growth.

A flare gas recovery system is a set of equipment used to recover the waste gas flared from an industrial process. The system comprises a gas compressor, gas coolers, and gas condensers. The recovered gas is then used as a fuel or as a feedstock for chemical processes.

The system helps in reducing the environmental pollution caused by flaring and also optimizes the use of natural resources. The system can be used in various industries such as oil & gas, petrochemicals, and chemicals.

The market has been segmented by type, application, and geography.

On the basis of type, the market has been classified into onshore and offshore. The offshore segment is projected to grow at the highest CAGR during the forecast period.

This is due to the rising exploration and production activities in deep-water regions.

On the basis of application, the market has been classified into gas-to-liquids (GTL), power generation, and others. The power generation segment is projected to grow at the highest CAGR during the forecast period.

This is due to the rising demand for power and the need to reduce the dependence on fossil fuels.

The market has been analyzed for four regions—North America, Europe, Asia Pacific, and the rest of the world.

North America is projected to be the largest market for flare gas recovery systems during the forecast period.

The presence of a large number of oil & gas companies and the need to comply with the stringent environmental regulations are the major factors driving the market in the region.

The market in Europe is projected to grow at the second-highest CAGR during the forecast period

5. The Environmental Impact of Flare Gas Recovery Systems
The oil and gas industry is a major contributor to global greenhouse gas emissions. In fact, the burning of fossil fuels for energy production is the largest single source of greenhouse gas emissions worldwide.

Flare gas recovery systems are one way to reduce these emissions. Flare gas recovery systems capture and reuse the gas that would otherwise be burned off or “flared” at oil and gas production facilities.

Capturing and reusing this gas can have a significant impact on reducing greenhouse gas emissions from the oil and gas industry. In addition, flare gas recovery systems can also help to improve air quality and reduce other environmental impacts associated with flaring.

There are a number of different types of flare gas recovery systems, each with its own advantages and disadvantages. The most common type of flare gas recovery system is the low-pressure gas recovery system.

Low-pressure gas recovery systems are typically used at oil and gas production facilities that have a low-pressure gas flare. Low-pressure gas flares are generally used to burn off excess gas that is produced along with oil.

The gas is combusted in the flare, and the resulting heat is used to generate steam. The steam is then used to power a turbine, which generates electricity.

Low-pressure gas recovery systems capture the gas that would otherwise be flared and use it to generate electricity. The electricity can then be used to power the facility or be sold to the grid.

Low-pressure gas recovery systems have a number of advantages over other types of flare gas recovery systems. They are less expensive to operate and maintain, and they can be used with a variety of different types of gas flares.

However, low-pressure gas recovery systems have a number of disadvantages as well. They are less efficient than other types of flare gas recovery systems, and they can only be used with low-pressure gas flares.

High-pressure gas recovery systems are another type of flare gas recovery system. High-pressure gas recovery systems are typically used at oil and gas production facilities that have a high-pressure gas flare.

High-pressure gas flares are generally used to burn off excess gas

6. The Future of the Flare Gas Recovery Systems Market
The Flare Gas Recovery Systems market is forecast to grow at a CAGR of over 6% during the period 2019-2024. The market is driven by the need to reduce environmental pollution. The Flare Gas Recovery Systems market report provides a detailed analysis of the market size, growth, share, segments, and key players.

The global flare gas recovery systems market is expected to reach USD 2.6 billion by 2024 from an estimated USD 1.9 billion in 2019, at a CAGR of 6.1%. The growth of the flare gas recovery systems market is driven by the need to reduce environmental pollution, minimize the impact of flaring on local communities, and comply with government regulations.

The oil & gas industry is the major contributor to flaring, accounting for nearly 60% of the total global flaring volume. The industry flares gas primarily due to operational reasons, such as unplanned shutdowns, startup & shutdown of facilities, and planned maintenance. In addition, the industry flares gas to avoid the release of toxic and greenhouse gases, such as carbon dioxide (CO2), sulfur dioxide (SO2), and nitrogen oxides (NOx), into the atmosphere.

The major players in the flare gas recovery systems market are Aker Solutions (Norway), Honeywell International (US), Cameron International (US), Fluid control International (US), John Zink Hamworthy Combustion (US), and Schlumberger (US).

The oil & gas industry is the major contributor to flaring, accounting for nearly 60% of the total global flaring volume. The industry flares gas primarily due to operational reasons, such as unplanned shutdowns, startup & shutdown of facilities, and planned maintenance. In addition, the industry flares gas to avoid the release of toxic and greenhouse gases, such as carbon dioxide (CO2), sulfur dioxide (SO2), and nitrogen oxides (NOx), into the atmosphere.

The use of flare gas recovery systems can help the oil & gas industry minimize flaring and comply with the latest government regulations. The systems can also help reduce environmental pollution and the impact of flaring on local communities.

The major players in the flare gas recovery systems

Key Players Covered

Key participants that are currently operating in the global flare gas recovery system market are Zeeco, Inc., Honeywell UOP, John Zink Hamworthy Combustion, Frames, Wärtsilä, Transvac – Ejector Solutions, Gardner Denver, GENERON, INC., Baker Hughes, MPR Industries, Aerzen USA, and Srisen Energy Technology Co., Ltd.

Segmentation

 

ATTRIBUTE

 

 DETAILS
 

By Capacity

 

 

    • Small
    • Medium
    • Large
    • Very Large
 

By Application

 

 

    • Petroleum Refineries
    • Chemical Plants
    • Gas Treatment and NGL Plants
    • FPSO Platforms
    • Storage Tank Vent Recovery
 

By Geography

 

 

    • North America (The USA and Canada)
    • Europe (UK, Italy, Spain, Russia, and Rest of Europe)
    • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
    • Latin America (Brazil, Mexico, and Rest of Latin America)
    • Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
 

By Capacity

 

 

    • Small
    • Medium
    • Large
    • Very Large
 

By Application

 

 

    • Petroleum Refineries
    • Chemical Plants
    • Gas Treatment and NGL Plants
    • FPSO Platforms
    • Storage Tank Vent Recovery

Zeeco, Inc., Honeywell UOP, John Zink Hamworthy Combustion, Frames, Wärtsilä, Transvac – Ejector Solutions, Gardner Denver, GENERON, INC., Baker Hughes, MPR Industries, Aerzen USA, and Srisen Energy Technology Co., Ltd.

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