The Flare Monitoring Market is Predict to reach USD 2 Billion by 2031, at a CAGR of 8.5%

Flare Monitoring Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Flare Monitoring Market size is expected to reach $2 billion by 2031, rising at a market growth of 8.5% CAGR during the forecast period.

The flare monitoring market is expected to continue growing, driven by advancements in monitoring technologies and increasing regulatory pressures. Recent innovations in flare monitoring have focused on improving monitoring systems' accuracy, reliability, and cost-effectiveness. For example, advancements in infrared and thermal imaging technology have enabled more precise detection and quantification of flare emissions, even in challenging environments.

The In-process segment led the Global Flare Monitoring Market by Mounting Method in 2023; thereby, achieving a market value of $1 billion by 2031. This segment's dominance can be attributed to in-process monitoring systems offering direct and continuous measurement of flare emissions, providing highly accurate and real-time data.

The Refineries segment is growing at a CAGR of 7.7 % during the forecast period. Refineries are major contributors to flare emissions as they process large quantities of crude oil into various petroleum products, leading to the frequent need to burn off excess gases. Strict environmental regulations imposed on refineries regarding emissions have driven the widespread adoption of flare monitoring systems in this sector.

Full Report: https://www.kbvresearch.com/flare-monitoring-market/

The North America region dominated the Global Flare Monitoring Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $634.9 million by 2031. The Europe region is anticipated to grow at a CAGR of 8.1% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 9.1% during (2024 - 2031).

List of Key Companies Profiled

• Ametek, Inc.
• Emerson Electric Co.
• Siemens AG
• ABB Group
• Honeywell International, Inc.
• Thermo Fisher Scientific
• Yokogawa Electric Corporation
• Fluenta AS
• Zeeco, Inc.
• John Zink Company, LLC

Flare Monitoring Market Report Segmentation

By Mounting Method

• In-process
  • Gas Chromatographs
  • Mass Spectrometers
  • Flowmeters
  • Calorimeters
  • Other In-process Type
• Remote
  • Thermal (IR) Imagers
  • Multi-Spectrum Infrared (MSIR) Imagers
  • Other Remote Type

By Industry

• Refineries
• Petrochemicals
• Onshore Oil & Gas Production Sites
• Landfills
• Other Industries

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Netherlands
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America Flare Monitoring Market Size & Growth | 2031

• September-2024
• 120 Pages

LAMEA Flare Monitoring Market Size, Share, Report [2031]

• September-2024
• 136 Pages

Europe Flare Monitoring Market Size, Share, Report [2031]

• September-2024
• 134 Pages

Asia Pacific Flare Monitoring Market Size, Forecast 2031

• September-2024
• 135 Pages