Flame Arrestors Market-Size, Insights of Scope, Compound Annual Growth, Forecast to-2023(Trending Report)

Japan, Japan, Wed, 05 Jan 2022 00:46:10 / Comserve Inc. / -- The flame arrestors market is projected to grow from an estimated USD 713.8 million in 2018 to USD 924.7 million by 2023, at a CAGR of 5.31%.

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment. 

The flame arrestors market is projected to grow from an estimated USD 713.8 million in 2018 to USD 924.7 million by 2023, at a CAGR of 5.31%. The stringent safety norms and regulations in industries and growth of shale gas and tight oil activities are driving the market across the world. Lack of government monitoring of industrial safety in emerging economies is a major restraint for the market.

"The in-line segment is expected to hold the largest share of the flame arrestors market, by type, during the forecast period."
The in-line segment is expected to dominate the flame arrestors market during the forecast period. In-line flame arrestors have been further categorized as deflagration and detonation arrestor. The market for in-line flame arrestors is driven by the increasing demand for detonation arrestors in storage tanks used for storing combustible material such as gasoline, crude oil, LNG, and aviation fuel.

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"Asia Pacific: The largest market for flame arrestors."
The Asia Pacific is the largest market for flame arrestors. Large investments in refinery expansions and the petrochemical industry are driving the market in the region. In countries such as China and India, the growth in industries like pharmaceutical and chemical is further driving the growth of flame arrestors. China, India, and Indonesia are expected to grow at a fast pace during the forecast period.

Breakdown of Primaries
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

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By Company Type: Tier 1 - 51%, Tier 2 - 30%, Tier 3 - 19%
By Designation: C-Level - 31%, D -Level- 43%, Others - 26%
By Region: Asia Pacific - 30%, Europe - 27%, North America - 22%, Middle East - 11%, South America - 6%, Africa - 4%

Research Coverage
The report defines, describes, and forecasts the flame arrestors market by module, type, application, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. The report also includes an in-depth competitive analysis of key players in the market along with their company profiles, recent developments, and key market strategies.

Why buy this report?
1. The report identifies and addresses key markets for the implementation of flame arrestors in oil & gas and chemical industries, which would help system providers review the growth in demand.
2. The report helps solution providers understand the pulse of the market and provide insights into drivers, restraints, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.

TABLE OF CONTENTS

1 INTRODUCTION 13
1.1 OBJECTIVES OF THE STUDY 13
1.2 DEFINITION 13
1.3 MARKET SCOPE 14
1.3.1 MARKETS COVERED 14
1.3.2 YEARS CONSIDERED FOR THE STUDY 15
1.4 CURRENCY 15
1.5 LIMITATIONS 15
1.6 STAKEHOLDERS 15
2 RESEARCH METHODOLOGY 16
2.1 INTRODUCTION 16
2.2 RESEARCH DATA 17
2.2.1 SECONDARY DATA 17

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