Press release
Vapor Recovery Units Market worth 1,007.2 million USD by 2022 | Key players operating in the market include Carbovac, Aereon, HY-BON/EDI, Cool Sorption, VOCZero
Vapor Recovery Units Market, Vapor Recovery Unit Market, Vapor Recovery Units, Vapor Recovery Unit
Browse 103 market data Tables and 36 Figures spread through 135 Pages and in-depth TOC on "Vapor Recovery Units Market - Global Forecast to 2022"
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The transportation application segment is estimated to lead the vapor recovery units market in 2017, and this trend is expected to continue during the forecast period. The growth of this segment can be attributed to the increasing use of vapor recovery units in the oil & gas industry. Vapor recovery units are widely used in transportation to reduce VOC emission and make the recovered vapor saleable. Therefore, rising demand for installation of vapor recovery units in truck loading and rail loading is driving the growth of the transportation segment.
Based on end-use industry, the oil & gas segment is estimated to lead the vapor recovery units market in 2017, and this trend is expected to continue in the coming years. The growth of the oil & gas segment can be attributed to high demand for vapor recovery units in the downstream process in the oil & gas industry due to stringent regulations with respect to VOC emissions into the atmosphere. Growing demand for oil & gas products from the emerging economies, such as China and India, is fueling the growth of the oil & gas industry.
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The Vapor Recovery Units (VRU) market is projected to reach USD 1,007.2 Million by 2022, at a CAGR of 5.0% from 2017 to 2022. Stringent environmental regulations for VOC emissions has led to the growth of vapor recovery units market. Major end-use industries of vapor recovery units include oil & gas and others that include chemicals & petrochemicals, landfill, and pharmaceuticals. Vapor recovery units are widely used in upstream and downstream processes in the oil & gas industry.
Major companies operating in the vapor recovery units market include Carbovac (France), BORSIG Membrane Technology (Germany), John Zink Company (US), SYMEX Technologies (US), Aereon (US), HY-BON/EDI (US), Cool Sorption (Denmark), VOCZero (UK), Zeeco (US), Flogistix (US), Kappa Gi (Italy), and Kilburn Engineering (India). These companies have operations in North American, Europe, and Asia Pacific. They adopt both, organic and inorganic expansion strategies to increase their market shares. Acquisition is an essential strategy in this market to cater competitive products to the end-use industries.
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Carbovac (France) is a leading company in designing, engineering, and manufacturing vapor recovery units. The company has an extensive experience in the VRU processing using dry screw vacuum pumps and has pioneered the use of dry technology in vapor recovery units. The company is a leading supplier of vapor treatment solutions for various applications such as trucks, rail cars, marine loading operations, and storage facilities. The company focuses on inorganic strategies, such as expansions to provide their services across the world.
Aereon (US) is one of the largest manufacturers of vapor recovery units with a significant geographic presence in more than 45 countries worldwide. The company has strong product offerings which are distributed across various regions. The company is primarily focused on organic growth strategies, such as expansion to enhance its product portfolio. In December 2014, the company expanded in Melbourne, Australia by opening an operations facility to develop and deliver products, including vapor recovery units to meet the country’s code requirements. The new Australian facility was engaged in the manufacturing of vapor recovery units for the upstream and downstream oil and gas industries, along with other products. This expansion strategy is centered on meeting the demand for the company’s recovery products.
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