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Flare Monitoring Market

Exploring Flare Monitoring Market: Rising Trends, Opportunities and Challenges Forecast 2030

irene garcia

Global Flare Monitoring Market Overview:

According to MarkNtel Advisors study the Global Flare Monitoring Market size was valued at around USD 1.3 billion in 2023 & is estimated to reach around USD 2.5 billion by 2030. The market is also expected to grow at a CAGR of around 10.1% during the forecast period, i.e., 2024-30. Global Flare Monitoring Market growth is a result of the strict regulatory framework, increasing awareness and corporate social responsibility, technological advancement, and global industrial expansion.

Key Findings of the Study: Flare Monitoring market

Global Flare Monitoring Market Opportunity:

Increasing Awareness & Corporate Social Responsibility – Increasing awareness about the harm caused by industrial emissions among people and their demand for transparency of industrial emissions data have forced companies to adopt more sustainable practices & make efforts to minimize their impact on the environment and include sustainability into their corporate social responsibility policies. Companies are determined to display their commitment to decreasing their footprint to maintain their reputation and acceptance in the market, driving them to optimize their operations to reduce waste and monitor their flare stacks to collect data for their emissions. This can be opportunistic for the Global Flare Monitoring Market. As companies grow more aware of the importance of sustainability and make efforts via their corporate social initiatives, the market for flare monitoring systems will grow.

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Scope of the Flare Monitoring Market Report Segmentation

-By Component

  • Hardware
  • Software- Market Size & Forecast 2019-2030F, (USD million)
  • Services- Market Size & Forecast 2019-2030F, (USD million)

-By End-User

  • Refineries- Market Size & Forecast 2019-2030F, (USD million)
  • Chemical and Petrochemical Plants- Market Size & Forecast 2019-2030F, (USD million)
  • Natural-Gas Processing Plants- Market Size & Forecast 2019-2030F, (USD million)
  • Offshore Exploration Platforms- Market Size & Forecast 2019-2030F, (USD million)
  • Well Heads and Landfills- Market Size & Forecast 2019-2030F, (USD million)
  • Metals and Steel Industry- Market Size & Forecast 2019-2030F, (USD million)

-By Deployment Location

  • On-shore- Market Size & Forecast 2019-2030F, (USD million)
  • Off-shore- Market Size & Forecast 2019-2030F, (USD million)

For more detailed information about the Flare Monitoring market report, click here – https://www.marknteladvisors.com/research-library/global-flare-monitoring-market.html

Geographical analysis:

-By Region

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

Out of all the regions North America dominates the Global Flare Monitoring Market. North America has strict regulations regarding industrial emissions and high industrial activity in the oil and gas sector where flaring is crucial for safety and regulatory compliance. North American countries such as The USA and Canada boast a well-established infrastructure and heavy investments in technology and innovation, which drives the market development. The government and environmental agencies have imposed strict regulations on industries that require companies to use advanced flare-monitoring systems. North America is expected to hold the largest share of the Global Flare Monitoring Market during the forecast period as well because the oil and gas sector is undergoing a structural transformation, updating facilities to improve operations and safety, this will create opportunities for market players.

 Global Flare Monitoring Industry Recent Development:

  • April 2024: The VISR method developed by Providence Photonics for flare compliance monitoring has been published by the EPA as method OTM-56. the U.S. EPA has published Other Test Method 56 (OTM-56) for monitoring flare regulatory compliance parameter NHVcz (or NHVdil for perimeter air-assisted flares). This is a significant milestone because there has been no EPA method for flare efficiency monitoring other than procedures specified in recent flare regulations.

 Current Landscape of Flare Monitoring Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Flare Monitoring market. The research report profiles major players, including

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  • Zeeco
  • Ametek Land
  • Teledyne Flir
  • Providence Photonics
  • Extrel CMS
  • Emerson
  • Thermo Fisher Scientific Inc.
  • Fluenta
  • Baker Hughes
  • Accuopt
  • ABB (Analytical Solution and Products)
  • Williamson IR
  • Advanced Energy
  • MKS Instruments
  • Hikvision
  • Others

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Why choose MarkNtel?

MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.

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