Flare Gas Recovery System Market Eyes US$ 1.76 Billion by 2031

According to the study, the overall flare gas recovery system market valuation is forecast to top US$ 1.7 Bn by 2031. Compressor technology is expected to remain highly sought-after, and sales of modular flare gas recovery system will increase at a steady pace, exhibiting growth at a 5.7% CAGR in 2021.

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Will the COVID-19 Crisis Hamper Sales of Flare Gas Recovery Systems?

In 2020, the unprecedented COVID-19 outbreak suspended all industrial activities and delayed several oil and gas projects to an extent. The market also saw a significant dip in sales of FGRS within end-use sectors including oil and gas, chemicals, and industrial fuel gas treatment.

However, government initiatives to resume operations in heavy industries to full capacity and resumption of stalled project activities is likely to propel sales of flame gas recovery systems in the forthcoming years.

Flare Gas Recovery System Market by Category

By Operating Pressure:

• Upto 5 bar (small)
• 5 to 10 bar (medium)
• 10 to 20 bar (large)
• 20 to 60 bar ( very large)

By Configuration:

• Modular
• Skid Mounted

By Technology:

• Compressor
  • Reciprocating
  • Screw
  • Liquid Ring
  • Siding Vane
• Ejector Based

By Flow Rate:

• Upto 2 MMSCFD
• 2 to 5  MMSCFD
• 5 TO 10 MMSCFD
• 10 TO 20 MMSCFD
• 20 to 50 MMSCFD

By Application:

• Oil & Gas
  • Petrochemical Refineries
  • NGL Plants
  • CNG Refineries
  • EOR
  • Pipeline & Syn Gas
  • FPSO Offshore platforms
  • Fuel gas conditioning
• Chemical Plants
• Storage Tanks
• Bio Gas & Landfill
• Industrial flue gas treatment