Vapor Recovery Units Industry worth $1.0 billion by 2027 | Key players PSG Dover (US), Aareon (US), Cimarron Energy, Inc. (US), John Zink Company (US), Carbovac (France).

According to recent market research the "Vapor Recovery Units Market by Application (Processing, Storage, and Transportation), End-use Industry (Oil & Gas, Landfills), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America) - Global Forecast to 2027" The global Vapor recovery units market size is projected to grow from USD 0.8 billion in 2022 to USD 1.0 billion by 2027, at a CAGR of 3.9%. Worldwide, increasing demand from the oil & gas industry supports for the growth of the vapor recovery unit's market. Stringent government regulation, expansion of production facilities, and growing demand for fuels and petrochemicals products across the globe are few factors supports for the growth of the market.

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The transportation application includes trucks, marine, railcars, and pipeline. It is a vital activity in logistics and distribution of the production process in oil & gas, chemicals & petrochemicals, landfills and other. Vapor recovery units are widely installed on trucks and railcars for loading applications of gasoline, liquefied natural gas, and other products. While product loading and during transit, there is a high possibility of vapor leakage of VOCs and HAPs. Owing to which, the vapor recovery units is mainly installed. Thus, growing transportation of fuels and petrochemicals across the globe, the demand for vapor recovery unit will increase significantly.

In terms of demand, the oil & gas industry is expected to register significant growth throughout the forecast period. This is mainly attributed to increasing production of downstream products, capacity addition in developing region, stringency of regulations, and strong emphasized on optimization of process. This industry is growing rapidly, as many refineries globally are converting into integrated plants. This resulted in the increasing demand for vapor recovery unit to comply with regulatory standards.

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The market for Vapor recovery units in Asia Pacific is estimated to register healthy growth, and this trend is anticipated to continue during the forecast period. This is attributed to economic growth of India, china and ASEAN countries, followed by massive investments in several industries such as petrochemical, oil & gas, and others. Asia Pacific is the lucrative market and should be the same soon.
Asia Pacific is the center of foreign investments, and several manufacturing facilities are shifting from developed nations to developing countries of Asia Pacific. The rise in demand for Vapor recovery units can be ascribed to the growing oil & gas, and petrochemical industries.

Major players operating in the Vapor recovery units market include PSG Dover (US), Aareon (US), Cimarron Energy, Inc. (US), John Zink Company (US), Carbovac (France), SYMEX Technologies (US), VOCZero (UK), Flogistix (US), and Kappa Gi (Italy), among others.

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In vapor recovery unit market, the US-based key players hold a significant share of the market. For instance, PSG Dover, Aareon, and Cimarron Energy, Inc., are few players holds a significant share of the market. PSG Dover has presence in many countries in Europe, North America, APAC, South America, and the Middle East. The company carries out its business activities in 100+ countries across the globe. It has a strong product portfolio and offers the vapor recovery unit under the brand name, Blackmer. The company offers products for several industrial application such as oil & gas, marine, chemicals, automotive, and others. The company has planned several strategic changes to improve the business. The company has leveraged its sales and distribution network to expand its business across US and various countries across the globe. This will drive the company growth.
• In June 2022, The Company had started selling vapor recovery units under the brand name Blackmer. This provides the company with the leverage of centralizing production and customer services under the brand name Blackmer. With this rebranding strategy, the company will gain the competitive edge over the other players, especially in Europe and North America market.

Aareon has the second-largest share in the Vapor Recovery Units market. The company is engaged in designing, manufacturing, installation, and maintenance services of vapor recovery units. In 2012, the company was formed because of the acquisition of Jordan Technologies (US) by Flare Industries (US). The company is the largest VRU service provider in the world. It has a presence in more than 45 countries worldwide. The company has key operation centers in Australia, Canada, India, Italy, Mid-Atlantic Region, and the UAE. To gain the competitive edge in the market, the company is channelizing efforts for the development of the new technology-based product that comply with the end users' requirements. For the same, the company spending on R&D activities.

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