Flare monitoring is used to determine the size of flare and the level of thermal radiations generated by the industry. Flaring can occur across the oil & gas, petrochemical, or other manufacturing industries owing to unit malfunctions, equipment testing, or any unsuccessful circumstances, which makes the flare monitoring, a mandatory step.
Flare monitoring is necessary because, the flaring of gas contributes to global warming, weather change and also influences the environment through the emission of black carbon, CO2, and other hazardous pollutants. Hence the governments across the globe are imposing the laws on flare monitoring system and the strict implementation of flare monitoring.
Download sample copy of this report:
The flaring can be classified as continuous production flaring, initial startup flaring, unplanned operational flaring, planned operational flaring, and safety flaring, owing to these flaring conditions, the flare monitoring becomes a mandate for the industries. Absence of gas utilization infrastructure, protective maintenance tasks associated with power plants, and any kind of constructions or modifications on power plant, failure of the safety devices such as fire detectors & gas, failure due to corrosion, or miscellaneous stoppages can cause flaring.
The flare monitoring system is capable of automatic generation of the signal, and flare size tracking, so that the hazard can be avoided. Hence the flare monitoring market is gaining the pace worldwide.
Strict Environmental Regulations Supporting Growth of Flare Monitoring Market
Strict environmental regulations from various governments associated with the industrial gas radiation, constraint of real time flare monitoring system, and obligation of increased & enhanced safety norms and global industry regularization, are fueling the growth of the global flare monitoring market. Various governments from across the globe are taking the crucial steps to control the air as well as water pollution and its dangerous effects on global environment.
Controlling and restricting the emission of the hazardous elements in the environment to sustain the global environment and prevent the global warming and climate change is need of an hour. These factors are boosting the growth of the global flare monitoring market.
Global Flare Monitoring Market: Segmentation
The global flare monitoring market has been segmented on the basis of mounting type, end use industry, and region
The flare monitoring market is segmented on the basis of mounting type:
- In Process-Mass Spectrometers
- Remote-IR Imagers
- MSIR Imagers
- Gas Chromatographs
The flare monitoring market is segmented on the basis of end use industry:
- Onshore Oil & Gas Production Sites
- Chemical and Petrochemical
Global Flare Monitoring Market: Competition Landscape
The prominent vendors of the global flare monitoring market are focusing on acquisitions and partnerships. Along with that, the vendors are engaged in providing the enhanced and technologically improved flare monitoring systems for better performance.
For instance, in 2018, Emerson Electric Corporation, one of the prominent United State based vendor of the flare monitoring systems has announced, acquisition with Advanced Engineering Valves (A.E. Valves), a leading vendor of innovative valve technology which helps LNG customers operate more professionally. The transaction will enable Emerson, a global leader in automation solutions and technology, to provide its customers with the world’s broadest portfolio of valves to improve process performance and reliability.
Some of the prominent manufacturers operating in global flare monitoring market are Ametek Incorporation, ABB, Emerson Electric Corporation, Eaton Hernis Scan Systems, Endress + Hauser AG, Oleumtech Corporation, Fluenta AS, MKS Instruments, FLIR Systems Incorporation TKH Security Solutions, and others.
Global Flare Monitoring Market: Regional Overview
On the basis of the geography, North America is expected to capture the significant share in the field of the flare monitoring systems. Due to, increase in the industrialization and power plants in the North American countries, such as US and Canada. Furthermore, the rapid growth in the chemical and petrochemical industries is ultimately fueling the growth of the flare monitoring market in the region.
Asia Pacific excluding Japan and Europe are also estimated to capture substantial share in the field of the flare monitoring market due to, increasing number of power plants, rapid growth in chemical industries, and other related industries in the region. Also, strict government regulations associated with the industrial gas radiation is one of the key factor which is boosting the growth of the flare monitoring market in the region. These parameters are propelling the demand for the flare monitoring market across the globe during forecast period.
Download table of contents with figures & tables:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.