Global Vapor Recovery Units Market Size study & Forecast, by Application (Processing, Storage, Transportation), by End-use industry (Oil & gas, Others) and Regional Analysis, 2023-2030

Global Vapor Recovery Units Market Size study & Forecast, by Application (Processing, Storage, Transportation), by End-use industry (Oil & gas, Others) and Regional Analysis, 2023-2030

Global Vapor Recovery Units Market is valued at approximately USD XXX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XXX% over the forecast period 2023-2030. Vapor Recovery Units (VRUs) are systems used to capture and recover volatile organic compounds (VOCs) and hazardous air pollutants (HAPs) that are emitted during various industrial processes. These units are typically employed in industries such as oil and gas, petrochemicals, chemical manufacturing, and storage terminals. The primary purpose of a VRU is to prevent the release of harmful vapors into the atmosphere. These vapors can come from activities such as the loading and unloading of storage tanks, oil and gas processing, and gasoline dispensing at service stations. The oil and gas sector is experiencing an increase in demand for vapor recovery units because of their usage in preventing crude oil loss from storage tanks by limiting vapor. Governments all around the world are enforcing strict restrictions to reduce the emission of volatile organic compounds (VOC) from storage tanks with their aim of a net-zero future. In addition, the rise of upstream and downstream projects in North America and Asia Pacific is contributing to the market's expansion.

Moreover, the increased investment in the oil and gas sector has led to the expansion of production facilities and infrastructure, including refineries, storage terminals, and distribution networks. As these facilities handle large volumes of petroleum products, there is a substantial release of VOCs into the atmosphere, which contributes to air pollution and poses environmental and health risks. Thus, the rising investment in gas sector is anticipated to support the market growth. According to Statista, in 2021, the investment in oil sector was USD 287 billion and it is anticipated to reach USD 305 billion by 2024. Additionally, rising energy demand is anticipated to create lucrative opportunities for the market during the forecast period. However, the high cost of installation and maintenance of vapor recovery units stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Vapor Recovery Units Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to rise in demand from oil & gas industry and presence of major VRUs manufacturers, growth of major end-use industries and capital investments in oil & gas sector. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as growth in energy & power sector, high investment in power and oil & gas sector, rise in nuclear energy and energy sector, and supportive government policies on renewable resources.

Major market players included in this report are:
PSG Dover (US)
Aareon (US)
Cimarron Energy, Inc. (US)
John Zink Company (US)
Carbovac (France)
SYMEX Technologies (US)
VOCZero (UK)
Flogistix (US)
Kappa Gi (Italy)
Kilburn Engineering Ltd (India)

Recent Developments in the Market:
 In May 2022, Flogistix unveiled its new facility to expand its manufacturing capabilities. The new 2, 59,000 square feet facility for VRUs is located in El Reno, Oklahoma.

Global Vapor Recovery Units Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Application, End-use industry, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Application offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Application:
Processing
Storage
Transportation
By End-use industry:
Oil & gas
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.

Companies Mentioned
PSG Dover (US)
Aareon (US)
Cimarron Energy, Inc. (US)
John Zink Company (US)
Carbovac (France)
SYMEX Technologies (US)
VOCZero (UK)
Flogistix (US)
Kappa Gi (Italy)
Kilburn Engineering Ltd (India)

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.