In-process Segment to Lead Global Flare Monitoring Market till 2024
Growing industrialization coupled with government norms to
protect the environment to drive global flare monitoring market through
2024
According
to TechSci Research report, “Global Flare
Monitoring Market By Mounting Method, By End-Use Industry, By Region,
Competition, Forecast & Opportunities, 2024”, global flare monitoring market
is projected to grow at a CAGR of over 8% during 2019-2024, on account of strict
environmental regulations aimed at controlling harmful emissions and increasing
combustion efficiency of flare systems. Moreover, steady growth of oil &
gas and petrochemicals industries and benefits offered by remote flare
monitoring systems like close monitoring of flare, prevention of unplanned over
pressuring of plant equipment, etc., are some of the other factors that would
drive flare monitoring market, globally, during forecast period.
Browse market data Tables and Figures spread through 130 Pages and an in-depth TOC on "Global
Flare Monitoring Market"
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In terms of mounting method, global
flare monitoring market is categorized into in-process and remote. In-process segment
dominated the market in 2018 and is expected to maintain its dominating market
position in coming years as well, on account of increasing crude & shale
oil production, discovery of new oil fields and continuous demand from
refineries. North America is the
largest demand generating region for flare monitoring across the globe. The
growth of the North American market can be majorly attributed to increasing
number of shale gas exploration and drilling activities in the region.
Moreover, growing focus to reduce emissions from upstream activities is expected
to aid the region’s flare monitoring market. United States is the largest
market for flare monitoring in the region, backed by stringent environmental
norms in the country.
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“Growing stringent
environmental norms to reduce emissions of harmful volatile organic compounds
and various pollutants from national, regional and international jurisdictions
are expected to positively influence global flare monitoring market. Moreover, increasing
demand from major oil & gas producing countries in the Middle East &
Africa and major oil refining countries in Asia-Pacific and Europe are expected
to offer growth opportunities to players operating in global flare monitoring
market.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Global
Flare Monitoring Market By Mounting Method, By End-Use Industry, By Region,
Competition, Forecast & Opportunities, 2024” has evaluated the future
growth potential of global flare monitoring market and provides statistics and
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in global flare monitoring market.
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