In December 2014, Future Markets Insights published a report entitled Flare Gas Recovery System Market: Global Industry Analysis and Opportunity Assessment 2014-2020 which discussed the expected growth during this time period for the global flare gas recovery systems (FGRS) market for the oil and gas industry.
The FGRS market is focused on not only recovering waste gas for reuse but also on the reinjection of waste gas back into the well to maintain proper pressure levels.
With the continued depressed price of natural gas – and the further drop in price since this report was published – it’s interesting to see how Future Markets sees the industry growing and progressing given that we’re already 2 years into the report term. Independent market analyst Robert Godwin summarized key findings in the report as follows:
The global new flare gas recovery systems installations are projected to expand at a CAGR of 9.4% through 2020. The revenue of the global flare gas recovery systems market is anticipated to exhibit a 13.8% CAGR and reach a valuation of over US$ 2 Bn. Currently, North America has the largest revenue share in the global flare gas recovery systems market. Other key regions for the growth of this market include Europe, South America, Eurasia, and Africa.
The report focuses on the following aspects of the FGRS market:
- Market size and forecast, 2012-2020
- Key drivers and developments in flare gas recovery system
- Key Trends and Developments of flare gas recovery system
- Key macro-economic indicators and governing factors
More information regarding the report can be found here.