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Asia Pacific Flare Gas Recovery System Market Size study, by Operating Pressure, by Configuration, by Technology, by Flow Rate, by Application and Country Forecasts 2022-2032

Asia Pacific Flare Gas Recovery System Market Size study, by...

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Asia Pacific Flare Gas Recovery System Market Size study, by Operating Pressure, by Configuration, by Technology, by Flow Rate, by Application and Country Forecasts 2022-2032
Asia Pacific Flare Gas Recovery...
Report Code
RO6/103/1280

Publish Date
07/Aug/2024

Pages
200
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Asia Pacific Flare Gas Recovery System Market is valued at approximately USD 413.00 million in 2023 and is anticipated to grow with a healthy growth rate of more than 7.12% over the forecast period 2024-2032. A Flare Gas Recovery System (FGRS) serves as a vital element within oil and gas production facilities, engineered to seize and repurpose flammable gases typically flared away. Through the recovery and reuse of these gases, FGRS not only lessens greenhouse gas emissions but also diminishes waste and boosts operational effectiveness. This system is instrumental in advancing environmental sustainability and streamlining resource utilization within the oil and gas sector. The considerable installed base of Flare Gas Recovery Systems (FGRS) and the stringent regulations about carbon emissions in China are poised to bolster sales within the Asia Pacific Flare Gas Recovery Systems Market throughout the forecast period. Additionally, India is anticipated to evolve into a prominent refinery hub, as evidenced by its plans to augment refining capacity to 400 MMTPA by 2025.

The rising demand for fossil fuels across a multitude of sectors, including automotive and power generation, alongside the expansion of Exploration and Production (E&P) activities to fulfil this demand, is anticipated to foster growth in the Asia Pacific Flare Gas Recovery Systems Market. Furthermore, the implementation of stringent regulations by governments and various organizations to mitigate environmental impacts, combined with the demand for energy-efficient and cost-effective solutions, is expected to propel the Asia Pacific Flare Gas Recovery Systems Market. Manufacturers are allocating resources towards research and development endeavors for flare gas recovery systems to enhance capabilities in remote oil and gas areas, thus driving heightened sales and contributing to the market's significant growth projections. However, high capital costs represent a substantial barrier to the growth of the Asia Pacific Flare Gas Recovery System Market. Additionally, the expense associated with catalysts further hampers market growth. Furthermore, the relatively lower awareness of the environmental benefits among end-user industries is projected to impede market growth between 2022 and 2032.

The key Countries considered for the Asia Pacific Flare Gas Recovery System market study includes China, India, Japan, South Korea, Australia, and Rest of Asia Pacific. In 2023, China was the largest regional market as it is the primary center for oil and gas production As per World Bank, Gas flaring in China increased by 35% in 2020, ranking it ninth globally. This surge is mainly attributed to new field developments in western China, facilitated by less stringent regulations compared to the US and the EU. Whereas, India is expected to grow with the fastest CAGR over the forecast period of 2024-2032.

Major market player included in this report are:
Emtivac Engineering Pty. Ltd.
Sunpower Technology (Jiangsu) Co., Ltd
Srisen Energy Technology Co., Ltd
Company 4
Company 5
Company 6
Company 7
Company 8
Company 9
Company 10
The detailed segments and sub-segment of the market are explained below:
By Operating Pressure
Upto 5 bar (small)
5 to 10 bar (medium)
10 to 20 bar (large)
20 to 60 bar (very large)
By Configuration
Modular
Skid Mounted
By Technology
Compressor
Ejector Based
By Flow Rate
Upto 2 MMSCFD
2 to 5 MMSCFD
5 TO 10 MMSCFD
10 TO 20 MMSCFD
20 to 50 MMSCFD
By Application
Oil & Gas
Chemical Plants
Storage Tanks
Biogas & Landfill
Industrial flue gas treatment
By Region:
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and country level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

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