Flare Monitoring System Market - Introduction
Flare surveillance system is the system's capacity to detect thermal radiation levels and industry-generated flare size. Reliable flare monitoring is always required to minimize the risk opportunities associated with big flare. Flaring may happen throughout the petrochemical, oil & gas, or other production sectors owing to equipment testing, unit failures, or any unfortunate situations. Flaring is caused by the lack of gas usage infrastructure, plant-related preventive maintenance duties, any type of modification or construction on the plant, failure of safety tools such as gas & fire detectors, corrosion failure or any other interruption. Flare surveillance system must be capable of tracking flare size and effective to automatically generate the signal in order to avoid the hazard.
Flare Monitoring System Market – Competitive Landscape
- In January 2019, Endress + Hauser AG introduced Micropilot NMR81 that is used for measurement of the liquid gauge more than 80 GHz.
- In November 2018, TKH Security Solutions released Automatic Flare Stack monitoring system, which can be used in oil & gas and marine industries.
- In October 2018, FLIR Systems Incorporation introduced black hornet vehicle reconnaissance system that enables the warfighter in order to maintain the circumstantial awareness. It also provides real time data.
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Founded in 1847, Siemens AG is headquartered in Munich, Germany. Siemens AG is a corporation focused primarily on the fields of electrification, automation and digitalization. The firm also offers resource-saving technologies that are energy-efficient. Siemens is a provider of electrical and transmission technologies as well as medical diagnostics.
Established in 1978, FLIR Systems, headquartered in Wilsonville, Oregon, the U.S., is a company specializes in the design and production of thermal imaging cameras, components and imaging sensors. The company offers various sensing solutions into daily life through their thermal imaging systems, locator systems, advanced threat detection systems, visible-light imaging systems and measurement and diagnostic systems.
Honeywell International Inc.
Established in 1906, Honeywell International Inc. is a manufacturer of various commercial and consumer products, aerospace systems and engineering services for a wide variety of customers, from private customers to major corporations and governments.
Some of the significant players in the market are ABB Ltd., Honeywell International Inc., FLIR Systems, Inc., Thermo Fisher Scientific Inc., HERNIS Scan Systems AS., Siemens Ltd., Providence Holding, Inc., Emerson Electric Co, AMETEK Inc., MKS Instruments, LumaSense Technologies Inc, Zeeco, Inc, Hauser Management AG and Galvanic Applied Sciences Inc.
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Flare Monitoring System Market – Dynamics
Strict government environmental regulations related to industrial gas emissions, requirement of real-time flare monitoring system, requirement for enhanced safety standards and global industry standardization, drive flare monitoring system market growth. The global environment is facing a huge problem of water pollution, air pollution, and others. The government is taking tough measures around the globe to curb this issue. Not only does it affect the quality of air or water, it also has an effect on the livelihood of ordinary people, livestock, and the entire ecosystem. This creates a worldwide adverse health-related issue. However, governments, oil companies, and development institutions around the world are encouraged to endorse the initiative's Zero Routine Flaring, which is expected to limit market growth. Instead of ignoring or rare activities, the initiative focuses on routine flaring.
In contrast, flare monitoring system demand rise due to rapid industrialization across developing nations such as India, Korea, Brazil, and others is expected to provide potential market growth opportunities. For instance, Siqura B.V., a Netherlands-based public-owned corporation, provides the first automatic flare stacking surveillance scheme with flare size tracking and automatic event signaling. The newly launched system is capable of tracking and monitoring methanol that is not visible to periodic cameras, prospective flare size, weather conditions, daytime smoke detection, and wind direction shifts. Restricting and controlling the hazardous elements emission in the environment in order to withstand the global environment and avoid the global warming. These factors are fueling the growth of the global flare monitoring system market.
North America is expected to show significant growth during the forecast time frame and also undergoing a pragmatic shift towards flare monitoring devices being installed, especially for flare monitoring devices in-process, mainly across refineries. However, during the forecast period, the areas of RoW and Asia Pacific are anticipated to develop at the largest and second largest rates, respectively.
Flare Monitoring System Market – Segmentation
The flare monitoring system market can be segmented based on:
- Mounting Type
- End Use Industry
Flare Monitoring System Market Segmentation – By Mounting Type
Based on the mounting type, the flare monitoring system market can be fragmented into:
- In-process mounting
- Gas Chromatograph
- Gas Analyzer
- Mass Spectrometer
- Remote Mounting
- Thermal Imager (IR)
- Multi Spectrum Infrared (MSIR)
Flare Monitoring System Market Segmentation – By End Use Industry
Based on the mounting type, the flare monitoring system market can be fragmented into:
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