PUBLISHER: Grand View Research | PRODUCT CODE: 1727989
PUBLISHER: Grand View Research | PRODUCT CODE: 1727989
The global flare gas recovery system market size is anticipated to reach USD 3,162.1 million by 2030 and is projected to grow at a CAGR of 5.2% from 2025 to 2030, according to a new report by Grand View Research, Inc. The market is experiencing growth driven by rising environmental awareness and stricter regulatory frameworks. In many countries, industries are facing increased pressure to cut emissions, and flare gas recovery systems offer an effective solution to reduce methane and other harmful gases released during flaring. For example, oil and gas companies operating in regions like the Middle East are under heightened scrutiny to curb gas flaring and seek cost-effective alternatives. This has led to a growing adoption of flare gas recovery systems to both meet regulations and improve resource utilization.
Stronger environmental regulations are a key factor propelling the demand for flare gas recovery technologies. Governments around the world are implementing more stringent emission reduction targets, making it more costly to simply flare gas. For instance, in Norway, where methane emissions are closely regulated, companies like Equinor have invested in advanced flare gas recovery systems to meet national climate goals while reducing waste. As these regulations continue to evolve, more industries are expected to adopt flare gas recovery systems to avoid penalties and optimize operational efficiency.
Recent advancements in flare gas recovery technology have significantly improved the efficiency and scalability of these systems. Innovations such as modular design and enhanced gas compression units have made it easier for industries to integrate recovery solutions into both new and existing infrastructures. For example, in the U.S., ExxonMobil has implemented a flare gas recovery system in several of its refineries, utilizing cutting-edge gas recovery compressors and control systems to capture and repurpose flared gas for energy generation, reducing both emissions and energy costs.
The flare gas recovery system market is set for continued growth, especially as industries explore more sustainable practices and the world transitions to cleaner energy. The technology is expected to see broader adoption in emerging markets, where flare gas is often seen as an untapped resource. For instance, in regions like Sub-Saharan Africa, countries with abundant oil reserves but limited infrastructure are increasingly turning to flare gas recovery as a means of reducing waste and improving energy access. With growing emphasis on circular economies and sustainability, flare gas recovery is anticipated to become a critical component of global energy strategies.