Flame Arrestor Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Flame Arrestor Market Research Repo
Flame Arrestor Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Flame Arrestor Market Research Report, by Type, Application, End-User and Region – Forecast till 2030” the market size is projected to be worth USD 12.63 Billion by 2030, registering a CAGR of 5.59% during the forecast period (2022 – 2030).
The flame arrestor market is fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches and more.
The COVID-19 outbreak has impacted every business sector which also includes the flame arrestor market. The outbreak of the crisis has brought most of the business activities to a halt. This has led to a significant fall in the demand for energy in the market that caused severe impacts of the oil and gas industries across the world. Consequently, the demand for flame arrestors in the oil and gas industry also fell at a rapid pace. The reopening of various industries in the first quarter of 2020 after the halt caused by the global pandemic, boosted the need for flame arresters to a great extent.
Rising Government Initiatives for Shale Gas Exploration to Boost Market Growth
The growing investments and initiatives by the government for shale gas exploration and production of oil and gas in developed countries will boost market growth over the forecast period.
Growing Need for Flame Protection to offer Robust Opportunities
The growing need for flame protection in ventilation systems, large storage tanks, and pipelines will offer robust opportunities for this market in the forecast period.
Deficiency of Government Monitoring to act as Market Restraint
The lack of efficient government monitoring for industrial safety especially in emerging economies may act as a market restraint over the forecast period.
Approval from Regulatory and Certification Authorities to act as a Market Challenge
The approval from regulatory and certification authorities may act as a market challenge over the forecast period.
Eminent players profiled in the global flame arrestor industry report include-
- Elmac Technologies (UK)
- Emerson Electric Co. (US)
- Braunschweiger Flammenfilter (Germany)
- L&J Technologies (US)
- Morrison Bros. Co. (US)
- Tornado Combustion Technologies (US)
- Motherwell Tank Protection (UK)
- Protectoseal (US)
- Ergil (Germany)
- Westech Industrial (US).
The global flame arrestor market is segmented based on end user, application, and type.
By type, the in-line segment will lead the market over the forecast period for the rising need for detonation arrestors for ventilation systems and pipelines of storage terminals in the oil and gas industry.
By application, the storage tank segment will dominate the market over the forecast period.
By end user, the oil & gas segment will spearhead the market over the forecast period.
APAC to Head Flame Arrestor Market
The APAC region will head the market over the forecast period. The high growth of the oil and gas, manufacturing industry, chemical processing, power generation, and pharmaceutical in Japan, China, and India, growing oil exploration activities, growing investment in refinery expansion, construction of tank and storage terminals, growing demand in China for the strong economic growth and growing manufacturing industry, high growth in the manufacturing sector in China, continued investments in refinery expansion, construction of storage terminals and tank farms, and rapidly growing chemical and pharmaceutical industries are adding to the global flame arrestor market growth in the region. Besides, the growing awareness towards industry and employee safety, major number of manufacturing companies, favorable government schemes, growing industrial sector that increases the need for hazard protection equipment like flame arrestors, and increasing investment in refinery expansion and construction of storage terminals in India and China are also adding market growth.
North America to Have Favorable Growth in Flame Arrestor Market
North America will have favorable growth over the forecast period. Stringent government regulations regarding safety features in end use industries, the presence of major flame arrestors manufacturers in Canada and the US, and the increase in oil and gas activities and growing end user industries are adding to the global flame arrestor market share in the region.
Segmentation of Market covered in the research:
Flame Arrestor Market Research Report: Information by Type (In-Line and End-Of-Line), Application (Storage Tank, Pipeline, Incinerator, Ventilation System and others), End-User (Chemical, Oil & Gas, Metals & Mining, Pharmaceutical, Waste-To-Energy Plant and others) and Region (North America, Europe, Asia-Pacific and Rest of the World) – Forecast till 2028
Browse an In-depth Market Research Report (185 pages) on Flame Arrestor
About Market Research Future:
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