Research and Markets has announced the addition of the "Global Flare Gas Recovery System Market, 2016 to 2023" report to their offering. The global flare gas recovery system market was valued at US$1294.5 million in 2015, and is expected to each US$3413.1 million by 2023, expanding at a CAGR of 13.1% from 2016 to 2023.
Global flare gas recovery system market is projected to gain impulse with growing inclination of end use industry to reduce H2S flaring, reduce smoking of flare gas, minimise fuel expenditure by using flare gas as fuel and comply regulatory requirements resulting in adoption of flare gas recovery systems. Rising environmental concerns over the emission of greenhouse gases influencing governments to adopt stringent regulation over emission of flare gases. Further, increasing production of natural gas and non-conventional shale gas is projected to fuel the demand of during the forecast period.
North America is projected to be the most dominant market in global flare gas recovery systems market. Wide adoption of flare gas recovery systems due to stringent regulations over the emission of greenhouse gases and growing production of shale gas is expected to drive the demand of flare gas recovery system in the region. Followed by it, Europe is anticipated to be the second largest market in global flare gas recovery market.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/03072017/global-flare-gas-recovery-system-market-to-2023/