Flare Monitoring Market Report: Trends, Forecast and Competitive Analysis to 2030

Flare Monitoring Trends and Forecast

The future of the global flare monitoring market looks promising with opportunities in the refinery, petrochemical, onshore oil & gas production site, and landfill markets. The global flare monitoring market is expected to reach an estimated $1.4 billion by 2030 with a CAGR of 7.8% from 2024 to 2030. The major drivers for this market are augmenting number of industrial accidents and increasing use of this technology in offshore drilling rigs and chemical & petrochemical industries.

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Flare Monitoring by Segment

The study includes a forecast for the global flare monitoring by mounting method, end use, and region.

Flare Monitoring Market by Mounting Method [Shipment Analysis by Value from 2018 to 2030]:

• In Process
• Remote

Flare Monitoring Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Refineries
• Petrochemicals
• Onshore Oil & Gas Production Sites
• Landfills
• Others

Flare Monitoring Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Flare Monitoring Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies flare monitoring companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the flare monitoring companies profiled in this report include-

• Siemens
• ABB
• FLIR Systems
• Thermo Fisher
• Honeywell
• John Zink Company
• LumaSense Technologies

Flare Monitoring Market Insights

Lucintel forecasts that remote is expected to witness the higher growth over the forecast period due to its features like ease of process monitoring and the compliance with most environmental standards.

Within this market, refinery will remain the largest segment over the forecast period.

North America is expected to witness highest growth over the forecast period due to growing number of drilling activities and high emphasis on reducing emissions from upstream activities in the region.

Features of the Global Flare Monitoring Market

Market Size Estimates: Flare monitoring market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Flare monitoring market size by mounting method, end use, and region in terms of value ($B).

Regional Analysis: Flare monitoring market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different mounting methods, end uses, and regions for the flare monitoring market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the flare monitoring market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the flare monitoring market size?

Answer: The global flare monitoring market is expected to reach an estimated $1.4 billion by 2030.

Q2. What is the growth forecast for flare monitoring market?

Answer: The global flare monitoring market is expected to grow with a CAGR of 7.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the flare monitoring market?

Answer: The major drivers for this market are augmenting number of industrial accidents and increasing use of this technology in offshore drilling rigs and chemical & petrochemical industries.

Q4. What are the major segments for flare monitoring market?

Answer: The future of the flare monitoring market looks promising with opportunities in the refinery, petrochemical, onshore oil & gas production site, and landfill markets.

Q5. Who are the key flare monitoring market companies?

Answer: Some of the key flare monitoring companies are as follows:

• Siemens
• ABB
• FLIR Systems
• Thermo Fisher
• Honeywell
• John Zink Company
• LumaSense Technologies

Q6. Which flare monitoring market segment will be the largest in future?

Answer: Lucintel forecasts that remote is expected to witness the higher growth over the forecast period due to its features like ease of process monitoring and the compliance with most environmental standards.

Q7. In flare monitoring market, which region is expected to be the largest in next 5 years?

Answer: North America is expected to witness highest growth over the forecast period due to growing number of drilling activities and high emphasis on reducing emissions from upstream activities in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the flare monitoring market by mounting method (in process and remote), end use (refineries, petrochemicals, onshore oil & gas production sites, landfills, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?