Vapor Recovery UnitsMarket Size, Share and Global Trend By Application (Transportation, Processing, Storage), By End-user (Landfills, Oil & Gas, Others) and Regional Forecast, 2024-2032

Vapor recovery unit, is a pressure system used to gather and pack low volume gas streams for injection into the suction of a bigger compressor, a meter run, a local site fuel gas system or straightforwardly into a gas gathering line. Vapor recovery comprises a driver engine or motor that provides power to the compressor. They are regularly utilized by oil and gas activities to recuperate vent gas. The vapor recovery unit diminishes air contamination emanations since they recuperate vent gas that would be transmitted to the environment or consumed in a flare.

Utilizing vapor recovery units to catch vent gas can lessen present and future dangers and obligations related to greenhouse gas emission. Stringent ecological enactment on volatile organic compounds is driven by the utilization of solvents over different industries is predominantly driving the vapor recovery. The oil & gas industry widely uses vapor recovery units owing to reduce the emission of carbon into the environment.

On the basis of the application, the global vapor recovery units market can be segmented into processing, transportation, storage. Transportation is expected to dominate the market in the above segmentation. The development of this section can be ascribed to the expanding utilization of vapor recovery units in the oil and gas industry. Vapor recovery units are generally utilized in transportation to lessen VOC discharge and make the recouped vapor saleable. Thus, increasing demand for the establishment of vapor recuperation units in rail loading and truck loading is driving the development of the vapor recovery units.

On the basis of the end-user, the global vapor recovery units market is segmented into landfills, oil & gas, and others. The oil & gas is expected to dominate the market in the above segmentation. Owing to increasing demand for oil & gas across the world. This resulted in the development of the oil and gas segment that can be ascribed to extreme demand for vapor recovery units in the downstream process in the oil and gas industry. Also, owing to strict regulation regarding VOC emanations into the environment created a huge demand for vapor recovery units.

The factor that is expected to drive the growth of the global vapor recovery units market is owing to increasing demand for oil & gas across the world along with strict regulations to curb the emission of volatile organic compounds into the environment.

The factor that is expected to restrain the growth of the global vapor recovery units market is owing to the high installation cost. Also, in case, the vapor recovery unit is not handled in a proper way, then it may cause environmental issues.

Key Players Covered

Some of the major companies in the global vapor recovery units market are Cimarron Energy Inc., PSG Dover, Aereon, PGS Petrogas Systems, John Zink Hamworthy Company, Wintek Corporation, Accel Compression Inc., and Whirlwind Methane Recovery Systems.

SEGMENTATION

Regional Analysis

The global vapor recovery units market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America, increasing investment to discover new oil fields. Also, owing to the shale gas revolution, which has increased the production of oil & gas. In Europe, countries like Russia and Germany is one of the major oil producers in the region. Owing to the increase in demand for oil & gas, which resulted in increased production of oil & gas. Also, strict government regulation regarding VOC emission resulted in massive demand for vapor recovery units in the oil industry. In Asia Pacific countries like China, India, and Japan, etc. are using vapor recovery units to curb the emission of harmful gases in the environment. In the Middle East & Africa, most of the countries are a major oil producer. An almost a large proportion of oil & gas is exported from the Middle East across the world. Owing to increasing oil & gas demand that tends to develop in the oil & gas industry. This resulted in a vapor recovery unit market to grow.

Key Industry Developments

• In Jul 2019, Cimarron Energy, Inc. announced that the acquisition of HY-BON/EDI Both HY-BON/EDI and Cimarron’s long-term customer strategies are aligned to strengthen our market positions in vapor recovery and emissions control solutions for oil and natural gas operators.


• In Jan 2019, The National Green Tribunal has directed the Central Pollution Control Board to inform if there is a requirement of anti-pollution vapor recovery system at fuel stations across the country. This shows the positive outlook for vapor recovery units market.


• In Jul 2017, Hitachi has signed an agreement to supply advanced equipment and technology for the Persian Gulf Bid Boland Gas Refinery project in the southern Khuzestan Province. The agreement includes the supply of compressors, vapor recovery units and gas storage equipment by the Japanese conglomerate, NIPNA.