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    Vapor Recovery Units Market Report

    Vapor Recovery Units Market Report
    Report code - SR2207 Delivery - 2 Weeks
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    Vapor Recovery Units Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth See more...

    Market Insights

    A Vapor Recovery Unit (VRU) is a specially designed compression package that reduces emissions from fuel vapours while recovering valuable hydrocarbons for on-site sale or re-use as fuel. A vapour recovery package is designed to capture approximately 95% of Btu-rich vapours, which have many benefits, including reduced air pollution and the recovery of gasoline vapours for use as fuel.

    The COVID-19 outbreak has had an effect on the market for vapour recovery units due to supply chain disruption, business closures, delays in transportation services, and travel restrictions. Because of the decrease in demand for the product brought on by the pandemic, the oil and gas industry has been severely impacted. Manufacturing activities have also come to a halt as a result of the globalisation of strict regulations. Additional factors influencing market development include decreased oil demand, the state of the economy, and the decline in oil prices.

    Concerns about greenhouse gas emissions and strict environmental regulations for volatile organic compound (VOC) emissions are expected to drive the market growth over the forecast period. Every industrial process's effectiveness and safety have received increased attention on a global scale. As a result, the use of vapour recovery units, as well as extensive development such as dry pump technology, with its overall dependability and lower contamination of recovered vapours, is likely to create an excellent opportunity for the vapour recovery units market in the future. Overall, the vapor recovery units market is likely to rebound at a modest CAGR of 2.5% till 2027. 

    Segment Analysis

    Based on the application type, the vapor recovery units market is segmented as processing, storage, and transportation. Transportation application to remain the dominant application of the market during the forecast period. The market is expected to grow as a result of the rising fuel demand, growing transportation safety demand, technological advancements, and the introduction of stricter emission regulations. Market participants, producers, and private businesses are working together to expand, serve more applications, and create cutting-edge technologies. 

    Based on the end-user type, the market is segmented as oil & gas, chemical & petrochemical, and others. The oil & gas industry is expected to remain the biggest demand generator for vapor recovery units in the market during the forecast period owing to factors such as escalating environmental regulations, increased refining throughput, and rising oil and gas demand. For the oil & gas industry, vapour recovery units can range in size from tiny tabletop packages for tiny gas streams to large packages capable of handling millions of cubic feet of gas each day.

    In terms of regions, Asia-Pacific is expected to remain the largest and the fastest-growing market for vapor recovery units during the forecast period owing to the rising oil & gas demand. Asia-Pacific is one of the world's fastest-growing regions due to rapid urbanisation, industrialization, and population growth. As a result, the demand for oil and gas is rapidly increasing. Environmental regulations for VOC emissions being implemented by the region's developing nations would also help the market.

    Key Players

    The following are the key players in the vapor recovery units market:

    • Kilburn Engineering Ltd.
    • Kappa GI
    • Flogistix LP
    • VOCZero Ltd.
    • Aereon Inc.
    • ALMA  CARBOVAC
    • BORSIG Membrane Technology GmbH
    • Cool Sorption A/S
    • Hy-Bon Engineering Company, Inc.
    • John Zink Company, LLC

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s vapor recovery units market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The vapor recovery units market is segmented into the following categories. 

    Vapor Recovery Units Market, by Application Type

    • Processing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Storage (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Vapor Recovery Units Market, by End-User Type

    • Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Chemical & Petrochemical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Vapor Recovery Units Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Argentina, and Others)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQ)

    The vapor recovery units market is estimated to grow at a CAGR of 2.5% by 2027, driven by escalating concerns over greenhouse gas emissions and strict environmental regulations for emissions of volatile organic compounds (VOCs).

    Kilburn Engineering Ltd., Kappa GI, FLOGISTIX LP, VOCZero Ltd., Aereon Inc., ALMA CARBOVAC, BORSIG Membrane Technology GmbH, Cool Sorption A/S, Hy-Bon Engineering Company, Inc., and John Zink Company, LLC are the leading players in the vapor recovery units market.

    Asia-Pacific is estimated to remain dominant in the vapor recovery units market in the foreseen future owing to rising oil & gas demand.

    Asia-Pacific is estimated to remain the fastest-growing market for vapor recovery units in the foreseen future. Asia-Pacific is one of the world's fastest-growing regions due to rapid urbanisation, industrialization, and population growth. As a result, the demand for oil and gas is rapidly increasing. Environmental regulations for VOC emissions being implemented by the region's developing nations would also help the market.

    Transportation application to remain the dominant application of the market in the coming years. The market is expected to grow as a result of rising fuel demand, growing transportation safety demand, technological advancements, and the introduction of stricter emission regulations.