Global Flare Monitoring market is expected to reach a CAGR of 7.9% in the forecast period of 2018 to 2025. The new market report contains data for the historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
The flare monitoring is used to monitor the characteristics of the flare out of the flames from industrial sector and also to restore the gases for environment prevention, for cost saving which can be reused and also helps in maintaining the standardized gases footprints according to the Environmental Protection Agency (EPA). Flares are organic compounds and toxic emission sources to environment. To operate within the allocated flare limits, an industry requires flare management plan and continuous parameter monitoring system. It protects from the premature replacement of machinery and parts reduce lubricant consumption and helps in the generation of less waste. It is used in oil& gas, chemical, petrochemical & refineries applications.
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- Powertrol Inc
- Thermo Fisher Scientific Inc.
- Providence Photonics, LLC
- Honeywell Technology Solutions Inc
- Siemens AG
- AMETEK incorporation
- Emerson Electric
- Endress + Hauser AG
Major growing sectors under the market segmentation are as follows:
In mounting method, remote segment is growing at highest CAGR because of casualties and the workforce require and also the launch of several techniques and devices with properties such as no direct contact with the flame, non-invasiveness and preprogrammed system are disrupting the flare monitoring market.
Companies such as Providence Photonics, a U.S based solutions provider of leak qualification and validation of gases, has launched MANTIS which uses Video–Imaging Spectro- radiometry for capturing the characteristics of flares through continuous flare monitoring.
In industry, offshore & onshore oil & gas production sites segment is growing at the highest CAGR because of excess demand of fuels in the world also emits huge amount of flares and also Launch of several devices with properties such as detection of flares which are unable to detect by naked eye, detection of smokeless flares are disrupting the flare monitoring market.
Companies such as FLIR, a U.S based solutions provider for thermal imaging, video analytics and detection systems, has launched FLIR IR cameras which is used for UV flame detection and also gives the gas to waste gas ratio.
The Global flare monitoring market is segmented into two notable segments which are mounting methods and industry.
- On the basis of mounting method the flare monitoring market is segmented into in-process and remote.
- On the basis of industry the flare monitoring market is segmented into Onshore Oil & Gas Production Sites, Refineries, Petrochemical, Landfills, Offshore & Metal and Steel Production.
- By Mounting method (In-Process and Remote), Industry (Onshore Oil & Gas Production Sites, Refineries, Petrochemical, Landfills, Offshore & Metal and Steel Production), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa)
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