Flare Gas Recovery System Market Share

North American Market Forecast

North America is estimated to hold around 44% share of the flare gas recovery system market by 2037. This can be attributed to the growing public consciousness of carbon emissions and the importance of environmental protection. In addition, the rapid implementation of flare gas recovery systems for power production applications is expected to fuel this expansion further. As a result, there is a significant increase in demand for eco-friendly technologies and sustainable solutions shortly.

European Market Statistics

European flare gas recovery system market is poised to hold a significant revenue share. Flare gas recovery systems are primarily used in the oil and gas industry during production, refining, and other processes to capture gas that would otherwise be burned or released into the atmosphere. They are also known as flare gas utilization systems. The increase in greenhouse gas emissions and other pollutants caused by flaring has prompted companies in Europe to adopt flare gas recovery systems. Flaring leads to environmental issues such as air pollution and climate change. To mitigate these problems, companies are increasingly using flare gas recovery systems to capture and redirect flare gas to more productive uses. This trend will drive steady growth in the Europe flare gas recovery system market.