Vapor Recovery Units Market was Led by the Oil and Gas Industry

The vapor recovery units market will reach a value of USD 1,177.8 million by 2030, at a rate of 5% by the end of this decade. This can be mainly credited to the growing production of oil & gas and, in line, of petrochemicals.

Also, the increasing concern around the toxic emissions from petrochemicals and stringent regulations for VOC emission reduction are accountable for the growth of the industry.

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The transportation category will have the fastest growth in the years to come, over 5%. This will be as a result of the increasing requirement for petroleum, petrochemical products, and other commodities, along with the extensive use of recovery units in vehicles for reducing VOC emissions. By the way, the stringent rules of the government limiting VOC emissions will power the growth of the industry.

The oil & gas sector has the largest share, of about 40%, in the past, and this trend will continue in the years to come as well. This is because of the expanding oil and gas use, increasing refinery count, and quickly changing environmental laws.

Moreover, the increasing requirement for downstream procedures and emission control systems across the industry powers the expansion of the market.

The upstream procedure generated major revenue in 2021, and this will continue in the years to come as well. This enormous revenue is mostly produced from upstream oil & gas procedures, such as production and exploration activities.

Therefore, the increase in the count of upstream projects in North America and the Middle East powers the requirement for VRUs. Consequently, the high use of these vapor recovery units in the upstream category will power the advancement of the industry.

The membrane separation technology will grow the fastest in the vapor recovery units market, with a rate of more than 5%, in the years to come. This is because of the cost-effectiveness of connecting and making use of membrane separators in VRUs.

Furthermore, membrane-separation-based VRUs have an improved recovery rate and provide a massive decrease in maintenance cost.

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The adsorption technology had the highest revenue and this trend will continue in the years to come as well. This is for the reason that adsorption-based VRUs are extensively used for the recovery or elimination of sulfur from crude oil, accompanied by averting the hazardous VOCs from being discharged into the atmosphere throughout evaporative hydrocarbon transfer actions.

It is because of the strict regulations regarding VOC emission reduction, the demand for vapor recovery units is on the rise, and this will continue in the years to come as well.

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