The Global Flare Monitoring Market size size was valued at around USD 1.3 billion in 2023 & is estimated to reach around USD 2.5 billion by 2030. The market is also expected to grow at a CAGR of around 10.1% during the forecast period, i.e., 2025-30. According to MarkNtel Advisors Study.
Global Flare Monitoring Market Driver:
Strict Regulations Driving Market Growth – Global warming and climate change have been a growing concern for the world, and industrial emissions are a significant contributor to pollution and greenhouse gases which are the main cause of global warming. This instigated various debates and protests against the inappropriate disposal of industrial waste in the environment. Prompted by the reports from environmental agencies and international organizations, governments around the globe made the regulatory framework surrounding industrial emissions stricter, to lower the emissions and the negative impacts of industrial growth on the environment. Strict regulations nudged the industries to dispose of the gases more responsibly, which requires constant monitoring of emissions from flare stacks, increasing the demand for monitoring equipment, which uses various technologies to observe the combustion efficiency to ensure the gases are properly burnt before releasing into the environment.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Flare Monitoring Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2024
-Historical Period: 2020 to 2023
-Forecast Period: 2025 to 2030
- By Component
- Hardware
- By Mounting Method
- Remote
- Infrared (IR) Flame Detectors- Market Size & Forecast 2019-2030F, (USD million)
- Multi-Spectrum Infrared (MSIR) Flame Detectors- Market Size & Forecast 2019-2030F, (USD million)
- Ultraviolet (UV) Flame Detectors- Market Size & Forecast 2019-2030F, (USD million)
- Single Infrared (IR) Flame Detectors- Market Size & Forecast 2019-2030F, (USD million)
- Visual Flame Detectors- Market Size & Forecast 2019-2030F, (USD million)
- In-Process
- Calorimeter- Market Size & Forecast 2019-2030F, (USD million)
- Spectrometer- Market Size & Forecast 2019-2030F, (USD million)
- Gas Chromatograph- Market Size & Forecast 2019-2030F, (USD million)
- Flow Meter- Market Size & Forecast 2019-2030F, (USD million)
- Gas Analyser- Market Size & Forecast 2019-2030F, (USD million)
- Remote
- By Mounting Method
- Software- Market Size & Forecast 2019-2030F, (USD million)
- Services- Market Size & Forecast 2019-2030F, (USD million)
- Hardware
- By End-User
- Refineries- Market Size & Forecast 2019-2030F, (USD million)
- Chemical and Petrochemical Plants- Market Size & Forecast 2019-2030F, (USD million)
- Natural-Gas Processing Plants- Market Size & Forecast 2019-2030F, (USD million)
- Offshore Exploration Platforms- Market Size & Forecast 2019-2030F, (USD million)
- Well Heads and Landfills- Market Size & Forecast 2019-2030F, (USD million)
- Metals and Steel Industry- Market Size & Forecast 2019-2030F, (USD million)
- By Deployment Location
- On-shore- Market Size & Forecast 2019-2030F, (USD million)
- Off-shore- Market Size & Forecast 2019-2030F, (USD million)
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Zeeco, Ametek Land, Teledyne Flir, Providence Photonics, Extrel CMS, Emerson, Thermo Fisher Scientific Inc., Fluenta, Baker Hughes, Accuopt, ABB (Analytical Solution and Products), Williamson IR, Advanced Energy, MKS Instruments, Hikvision, and others are looking forward to strengthening their market positions.
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Global Flare Monitoring Industry Recent Development:
April 2024: The VISR method developed by Providence Photonics for flare compliance monitoring has been published by the EPA as method OTM-56. the U.S. EPA has published Other Test Method 56 (OTM-56) for monitoring flare regulatory compliance parameter NHVcz (or NHVdil for perimeter air-assisted flares). This is a significant milestone because there has been no EPA method for flare efficiency monitoring other than procedures specified in recent flare regulations.
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