Flare Gas Recovery Systems Market, By Capacity (Small, Medium, Large, and Very Large), By Application (Petroleum Refineries, Chemical Plants, Gas Treatment and NGL Plants, FPSO Platforms, and Storage Tank Vent Recovery), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Apr 2024

Code : CMI3854

Pages :120

Formats :

Excel and PDF

Industry : Energy

Market Concentration and Competitive Landscape

Flare Gas Recovery Systems Market Concentration By Players

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Strict Rules around Gas Flaring

Many governments and regional authorities view gas flaring as an environmental hazard and are placing stricter rules around allowing and monitoring such activities. Major oil producing regions like the Middle East and Africa which contribute hugely to global flaring volumes have come under scrutiny. Local communities are also raising their voice against regular sighting of flames at oilfields. While occasional technical flaring cannot be avoided, continuous flaring over long periods is being treated as a non-compliant activity. Authorities are enacting zero routine flaring by 2030 targets and monitoring emission numbers closely. Fines and penalties for excessive or unapproved flaring have also been increased. To stay compliant and avoid costly disciplinary actions, upstream players have little choice but to curb regular flaring drastically which can only be done by installing gas recovery and processing facilities. Thus, tighter emission norms are a driver to boost deployments of flare gas recovery systems.

Key Players Insights