Increasing VOC (Volatile Organic Compounds) from industrial activities, and need for appropriate to obstruct emissions from releasing in the atmosphere are key factors driving market revenue growth.
Market Size - USD 913.8 Million in 2020, Market Growth - CAGR of 4.8%, Market Trends - Rising investment in technological advancements and development of cost-effective vapor recovery units by major players.
The global vapor recovery unit market size is expected to reach USD 1,340.3 Million in 2028, and register a CAGR of 4.8% during the forecast period. Increasing use of solvents in various industrial manufacturing units is leading to release of VOC emissions, and in order to obstruct release of VOC emissions from industrial verticals into atmosphere, and to comply with government regulations regarding environmental pollution, industry players need to install vapor recovery units at gas plants. These are major factors expected to drive market growth to a significant extent.
These units are installed in various industries for applications in petroleum distribution terminals, chemical and petrochemical plants, and crude-oil tanks, among various others. Recovery units are used for process of compressing and recovering vapors released while petroleum filtration process. These are other major factors expected to drive growth of the global vapor recovery unit market.
Fluctuating costs of crude oil, and high capital investments required for production and installation of these units are factors that could hamper growth of the global vapor recovery unit market to some extent.
Some Key Findings From the Report:
For the purpose of this report, the global vapor recovery unit market has been segmented based on application, end-use, and region:
Application Outlook
End-Use Outlook
Region Outlook
Reasons to Buy the Report
Market Size - USD 913.8 Million in 2020, Market Growth - CAGR of 4.8%, Market Trends - Rising investment in technological advancements and development of cost-effective vapor recovery units by major players.
The global vapor recovery unit market size is expected to reach USD 1,340.3 Million in 2028, and register a CAGR of 4.8% during the forecast period. Increasing use of solvents in various industrial manufacturing units is leading to release of VOC emissions, and in order to obstruct release of VOC emissions from industrial verticals into atmosphere, and to comply with government regulations regarding environmental pollution, industry players need to install vapor recovery units at gas plants. These are major factors expected to drive market growth to a significant extent.
These units are installed in various industries for applications in petroleum distribution terminals, chemical and petrochemical plants, and crude-oil tanks, among various others. Recovery units are used for process of compressing and recovering vapors released while petroleum filtration process. These are other major factors expected to drive growth of the global vapor recovery unit market.
Fluctuating costs of crude oil, and high capital investments required for production and installation of these units are factors that could hamper growth of the global vapor recovery unit market to some extent.
Some Key Findings From the Report:
- Among the application segments, the transportation segment accounted for major revenue share in 2020. The storage segment is expected to register a robust revenue CAGR during the forecast period.
- Among the end-use segments, the oil & gas segment accounted for the largest revenue share in 2020, due to increasing installation of vapor recovery units in downstream process in oil & gas industry, in chemicals and petrochemicals industry and others, and government regulations regarding VOC emissions released in the atmosphere.
- The Asia Pacific market is expected to register a robust revenue CAGR over the forecast period, due to rapidly growing industries and manufacturing plants, and stringent government regulations to install vapor recovery units.
- Europe market accounted for the largest revenue share in 2020, and is expected to continue with its dominance during the forecast period, due to large number of manufacturing plants and need for vapor recovery units in these plants.
- The North America market accounted for considerably large share in terms of revenue in 2020. The US market is expected to contribute the largest revenue share to the North America market.
- Companies profiled in the market report include HY-BON/EDI, PSG Dover, AEREON, Petrogas Systems, John Zink Company, LLC, Cimarron Energy Inc., Wintek Corporation, Accel Compression Inc., and Whirlwind Methane Recovery Systems, LLC. The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
For the purpose of this report, the global vapor recovery unit market has been segmented based on application, end-use, and region:
Application Outlook
- Processing
- Storage
- Transportation
- Railcar loading
- Pipeline
End-Use Outlook
- Brewery and food processing
- Landfills
- Oil and gas
- Chemicals and Petrochemicals
- Others
Region Outlook
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
Reasons to Buy the Report
- A robust analysis and estimation of the Vapor Recovery Unit Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
- A holistic competitive landscape of the all the major players in Vapor Recovery Unit Market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
- Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
- Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
- Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization
Table of Contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Vapor recovery unit Market Segmentation & Impact Analysis
Chapter 5. Vapor recovery unit Market by application Insights & Trends
Chapter 6. Vapor recovery unit Market by End use Insights & Trends
Chapter 7. Vapor recovery unit Market Regional Outlook
Chapter 8. Competitive Landscape
Chapter 9. Company Profiles
Companies Mentioned
- HY-BON/EDI
- PSG Dover
- AEREON
- Petrogas Systems
- John Zink Company LLC
- Cimarron Energy Inc.
- Wintek Corporation
- Accel Compression Inc.
- Whirlwind Methane Recovery Systems LLC.
