Chemview Consulting

Vapor Recovery Units Market

Global Vapor Recovery Units Market Analysis and Opportunity Assessment by Technology, Application, Process, End-Use, Region, and Country – Forecast 2022 – 2032

The market is expected to generate an incremental $ opportunity of US$ 699.4 Mn between 2022 and 2032

Category: Chemicals & Materials

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ID: CVC-00275

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Format: PDF+Excel Dataset

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Published Date: October 2022

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Pages: 320

Vapor Recovery Units Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Vapor Recovery Units Market was worth US$ 1,202.1 Mn and is expected to grow at a CAGR of 5.9% over the forecast period. The market is expected to hit US$ 2,132.6 Mn by 2032 end. From 2017–2021, when the market’s CAGR was 4.4%, the market underwent significant growth.

A vapor recovery unit (VRU) is a device that collects Vapors that may be used again in industrial settings to make fuels like oil, natural gas, and other types of energy. Vapor recovery units are mostly utilized in upstream and downstream processes in the chemical process sector.

The recovery of the oil and gas industry from the COVID-19 pandemic’s effects, stricter regulations, and rising production of oil and gas and petrochemicals, among other factors, are all contributing to an increase in demand for Vapor recovery units globally. The market expansion coincides with the development of the oil and gas sector. However, the global COVID-19 epidemic caused a drop in the market in 2020.

Market Dynamic

STRINGENT EMISSION REGULATIONS FUEL THE MARKET

The necessity for Vapor recovery units has increased as crude oil storage tanks are being built more often worldwide. These tanks temporarily store oil to steady the flow between producing wells and pipelines.

End users are installing more Vapor recovery units due to the steady rise in upstream projects and oil and gas exploration operations. The oil and gas and maritime sectors are seeking “alternative techniques” to comply with the standards due to more stringent environmental restrictions restricting the emission of GHG and other VOCs. As a result, the oil and gas sector anticipates a sharp increase in demand for Vapor recovery units throughout the projection period.

HIGH INSTALLATION COSTS HAMPER THE MARKET GROWTH

Vapor recovery units are placed in oil and gas facilities to prevent the emission of VOCs; these units are often customized to meet the needs of the plants. These units, which range in capacity, are deployed at various points in upstream and downstream applications. Each unit’s design, component procurement, and installation become expensive due to customization, variation in sizes, capacities, and changing processing parameters. As a result, Vapor recovery unit installation costs are higher than other units.

Vapor Recovery Units Market

Market Segments Covered in Report

By Technology:

  • Membrane Separation
  • Adsorption
  • Condensation
  • Absorption

By Application:

  • Marine Loading
  • Truck Loading
  • Railcar Loading
  • Pipelines
  • Storage Tank Vents

By Process:

  • Upstream
  • Downstream

By End-Use:

  • Oil & Gas Compressors
  • Landfills
  • Brewery and Food Processing
  • Others

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Which technology segment of Vapor Recovery Units is projected to rise during the projection period?

Over the projection period, demand for Vapor recovery units using membrane separation technology is anticipated to be at its peak. The need for membrane separation technology is expected to continue strong due to its cost-effective operational and installation costs compared to other technologies.

Additionally, since membrane separation technology-based Vapor recovery units are simple to operate and install, end customers are increasingly choosing them for upstream applications. VRUs with membrane separation technology have a greater recovery rate and much lower maintenance costs.

Why is the marine loading segment expected to expand the fastest during the forecast period?

Railcar and maritime loading are anticipated to expand significantly throughout the projection period. The rising use of crude oil in these industries supports growth in these areas.

The need for VRUs in upstream applications has increased due to the expansion of upstream projects across North America and the Middle East. The high cost of these Vapor recovery systems upstream will thus be the main factor driving upstream sector development.

The use of Vapor recovery units in the oil and gas industries has also been boosted by rising oil output and development in oil exploration units and refineries.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

  • North America is anticipated to hold more than 61.0% of the worldwide market for Vapor recovery units by 2021, making it the most profitable region.
  • With approximately 10.4% of the market in 2021, the Asia Pacific outside of Japan is anticipated to be the second-largest market for Vapor recovery devices. Manufacturers of Vapor recovery units should expect modest growth prospects due to rising oil and gas exploration in India.
  • The number of oil exploration units and refineries in the United States is increasing due to rising oil output and consumption. The main reasons encouraging the expansion of the U.S. Vapor recovery units market are the increase in storage batteries and tanks and the rising volatility in crude oil prices.

Competition Analysis

The market for Vapor recovery systems is anticipated to be highly fragmented. The market now has many top companies, which has raised competition and led to more product releases.

Several businesses are seeking strategic mergers and acquisitions to increase their worldwide footprint. To fulfill the emission regulations, tier-1 players are simultaneously expanding their sales channels and launching cutting-edge products.

Some of the key developments that have taken place in the Vapor Recovery Units Market include:

  • In march 2021, SCS Technologies revealed a brand-new line of environmentally friendly products for their Vapor recovery machines. The business created a best-in-class Vapor recovery system to comply with EPA 0000a rules through a recent purchase.
  • In November 2021, For wet cooling towers, InventHelp Inventor unveiled a revolutionary Vapor recovery system (HUN-1025). This method will aid in boosting the amount of cooling tower process water that can be collected, minimizing the environmental effect.

A list of some of the key suppliers present in the market are:

 Global Vapor Recovery Units Market 2022-2032: Report Coverage and Highlights

  • Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
  • Key drivers, restraints, opportunities, and key emerging trends impacting market growth
  • Predictions on critical supply, demand, and technological trends and changes in consumer behavior
  • Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
  • Segment-wise, country-wise, and region-wise market analysis
  • Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
  • Key product innovations and regulatory framework
  • Covid-19 impact on the market and how to navigate
  • Strategic market analysis and recommendations on crucial winning strategies
Research Scope Details
Forecast period 2022-2032
Historical data available for 2017-2021
Market analysis USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032
Key regions covered North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa
Key countries covered US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt
Key segments covered By Technology, Application, Process, End-Use, and Region
Customization scope Available upon Request
Pricing and purchase options Available upon Request

Frequently Asked Questions

In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 5.9%.

The oil and gas sector is seeing an increase in demand for Vapor recovery units because of their usage in preventing crude oil loss from storage tanks by limiting Vapor.

Major global Vapor Recovery Units Market players are Hy-Bon/EDI, Petrogas Systems, PSG Dover, AEREON, John Zink Company LLC, Cimarron Energy Inc., Wintek Corporation, Accel Compression Inc., Whirlwind Methane Recovery Systems LLC, and Others.

Vapor Recovery Units (VRUs) typically have components mounted on a skid assembly. These skids give systems simple mobility because they are entire VRUs. Therefore, improper installation and anchoring of the systems to the ground leads to operational problems in these units.

The North American region is expected to account for the largest market revenue share in the Global Vapor Recovery Units market.

  1. Executive Summary
    • Global Market Snapshot
    • Key Success Factors
    • Strategic Analysis and Recommendations
  2. Market Overview
    • Market Taxonomy
    • Market Definitions
  3. Research Methodology
    • Preliminary Investigation & Research Design
    • Secondary Research & Primary Research
    • Data Analysis & Econometric Modelling
    • Expert Data Validation
  4. Key Emerging Trends Analysis
    • Supply-Side Trends
    • Demand-Side Trends
  5. Global Vapor Recovery Units Market Value (US$ Mn) and Volume (Tons) Analysis
    • Global Market Value (US$ Mn) Analysis, 2017 – 2032
    • Incremental $ Opportunity Index, 2022-2032
    • Global Market Volume (Tons) Analysis, 2017 – 2032
  6. Global Vapor Recovery Units Market Pricing Analysis
    • Regional Level Pricing Analysis and Forecast
      • Manufacturers Level Pricing
      • Distributor Level Pricing
    • Global Pricing Analysis Benchmark
    • Cost Breakdown Analysis
  7. Cross-Sectional Analysis
    • Cross Analysis of Application W.R.T. Product Type
  8. Supply Vs. Demand Analysis
    • Regional Supply Vs. Demand Gap Assessment
    • Top Producing Countries Analysis
  9. Market Background
    • Macroeconomic Factors
    • Forecast Factors
    • Market Dynamics
      • Driver
      • Restraint
      • Opportunity
    • Supply Chain Analysis
      • List Raw Material Suppliers
      • List of Manufacturers
      • List of Distributors
      • List of End-Users
      • Average Profitability Margin Analysis
    • Covid-19 Impact Assessment
      • Economy/Cluster Projections
      • Covid-19 Economic Assessment
      • Potential Impact on Target Market
      • Recovery Scenario
    • Regulatory Framework
      • Regulations of Key Countries
      • Potential Impact of Regulations
    • Porter’s Five Forces Analysis
    • Technology Landscape
  10. Global Vapor Recovery Units Market 2017 – 2032 By Technology
    • Introduction
    • Key Market Trends
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Technology [Value (US$ Mn) and Volume (Tons) Analysis]
      • Membrane Separation
      • Adsorption
      • Condensation
      • Absorption
    • Market Attractiveness Analysis by Technology
  11. Global Vapor Recovery Units Market 2017 – 2032 by Application
    • Introduction
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Application [Value (US$ Mn) and Volume (Tons) Analysis]
      • Marine Loading
      • Truck Loading
      • Railcar Loading
      • Pipelines
      • Storage Tank Vents
    • Market Attractiveness Analysis by Application
  12. Global Vapor Recovery Units Market 2017 – 2032 by Process
    • Introduction
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Process [Value (US$ Mn) and Volume (Tons) Analysis]
      • Upstream
      • Downstream
    • Market Attractiveness Analysis by Process
  13. Global Vapor Recovery Units Market 2017 – 2032 by End-Use
    • Introduction
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By End-Use [Value (US$ Mn) and Volume (Tons) Analysis]
      • Oil & Gas Compressors
      • Landfills
      • Brewery and Food Processing
      • Others
    • Market Attractiveness Analysis by End-Use
  14. Global Vapor Recovery Units Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032 by Region
    • Introduction
    • Key Market Trends
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Region [Value (US$ Mn) and Volume (Tons) Analysis]
      • North America
      • Latin America
      • Europe
      • Asia-Pacific
      • Middle East
      • Africa
    • Market Attractiveness Analysis by Region
  15. North America Vapor Recovery Units Market Historical Analysis 2017 – 2021 and Forecast 2022-2033
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • U.S.
        • Canada
      • By Technology
      • By Application
      • By Process
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Technology
      • By Application
      • By Process
      • By End-Use
  1. Latin America Vapor Recovery Units Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Brazil
        • Mexico
        • Rest of Latin America
      • By Technology
      • By Application
      • By Process
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Technology
      • By Application
      • By Process
      • By End-Use
  1. Europe Vapor Recovery Units Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Germany
        • Italy
        • France
        • UK
        • Spain
        • Netherlands
        • Norway
        • Russia
        • Rest of Europe
      • By Technology
      • By Application
      • By Process
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Technology
      • By Application
      • By Process
      • By End-Use
  1. Asia-Pacific Vapor Recovery Units Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • China
        • Japan
        • South Korea
        • India
        • Indonesia
        • Thailand
        • Vietnam
        • Australia & New Zealand
        • Rest of Asia-Pacific
      • By Technology
      • By Application
      • By Process
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Technology
      • By Application
      • By Process
      • By End-Use
  1. Middle East Vapor Recovery Units Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Pricing Analysis
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Saudi Arabia
        • Turkey
        • U.A.E.
        • Rest of the Middle East
      • By Technology
      • By Application
      • By Process
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Technology
      • By Application
      • By Process
      • By End-Use
  1. Africa Vapor Recovery Units Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Pricing Analysis
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • South Africa
        • Nigeria
        • Egypt
        • Rest of Africa
      • By Technology
      • By Application
      • By Process
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Technology
      • By Application
      • By Process
      • By End-Use
  2. Competition Analysis
    • Tier Structure Breakdown
    • Market Share Analysis
    • Production Capacity Analysis
    • Company Footprint Analysis
      • Product Footprint of Players
      • Regional Footprint of Players
      • Channel Footprint of Players
    • ChemView’s Competitor Positioning Matrix
  3. Company Profiles
    • Hy-Bon/EDI
      • Company Overview
      • Product & Financial Portfolio
      • Manufacturing Facilities
      • Recent Developments
      • SWOT Analysis
      • Strategy Overview
    • Petrogas Systems
    • PSG Dover
    • AEREON
    • John Zink Company LLC
    • Cimarron Energy Inc.
    • Wintek Corporation, Accel Compression Inc.
    • Whirlwind Methane Recovery Systems LLC
    • Others
  4. Assumptions and Acronyms

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