Vapor Recovery Units Market: Accelerating Rapid Growth with Excellent Future CAGR and Top Players by 2024-2031

Vapor Recovery Units Market Research Report By DataM Intelligence: A comprehensive analysis of current and emerging trends provides clarity on the dynamics of the Vapor Recovery Units market. The report employs Porter's Five Forces model to assess key factors such as the influence of suppliers and customers, risks posed by different entities, competitive intensity, and the potential of emerging entrepreneurs, offering valuable insights. Additionally, the report presents research data from various companies, including their benefits, gross margins, and strategic decisions in the global market, all conveyed through tables, charts, and infographics.

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What is the projected growth rate (CAGR) of the Global Vapor Recovery Units market from 2024 to 2031, and what is the market value expected to change by 2031?

The Global Vapor Recovery Units Market size was worth US$ 783 million in 2023 and is estimated to reach US$ 1,098.41 million by 2031, growing at a CAGR of 4.32% during the forecast period (2024-2031).

What is Vapor Recovery Units Market?

A vapor recovery unit (VRU) is a technology designed to capture and remove hazardous vapors from storage tanks and crude oil, allowing industries to meet stringent emission standards. Vapor recovery involves compressing and recovering fuel vapors to prevent their release into the atmosphere, where they can act as toxic pollutants and even pose an explosion risk.

Powered by either gas engines or electric motors, VRUs operate on the principles of the ideal gas law and are composed of four primary components: scrubbers, gas compressors, switching devices, and variable frequency drives. These components work together to efficiently remove and recover harmful vapor and fluid contaminants from crude products.

VRUs are widely used in the chemical and petroleum industries to capture escaping vapors. The systems use methods such as condensation, activated carbon adsorption, lean oil absorption, and jet ejector mechanisms to capture diverse components in the gas stream. Additionally, VRUs serve as essential safety and anti-pollution tools in various applications, including fueling stations, industrial machinery, chemical storage tanks, mixers, reactors, and automotive settings, helping reduce the presence of explosive gases and ensuring environmental compliance.

Through these mechanisms, vapor recovery units support safe operations, minimize pollution, and enhance regulatory compliance across industrial sectors.

Growth Driver

Technological Advancements Driving Growth in the Vapor Recovery Unit Market

The continuous pace of technological innovation is significantly impacting the vapor recovery unit (VRU) market, with new advancements enhancing efficiency and operational capabilities. A shift in consumer preference is underway, moving from traditional condensation methods to innovative membrane separation technology. This new method uses a semipermeable membrane to filter vapors, providing a highly efficient alternative for capturing and recovering valuable fuel vapors.

Combining condensation technology with membrane separation has proven particularly effective, offering increased recovery rates while simultaneously reducing maintenance costs. This hybrid approach enhances overall performance, leading to higher recovery efficiency and more cost-effective operations for industries that rely on vapor recovery systems.

With the development and adoption of these advanced technologies, the VRU market is expected to experience steady growth, driven by the demand for high-efficiency, low-maintenance solutions that meet strict environmental and safety standards. As a result, technological innovation remains a key driver in expanding the adoption of VRUs across the chemical, petroleum, and industrial sectors.

Key Players:

Profiles of some of the major players in the global Vapor Recovery Units market, which include: BORSIG Membrane Technology GmbH, John Zink Company LLC, Symex GmbH & Co. KG, AEREON, Hy-Bon Engineering Company, Inc., Cool Sorption A/S, Kilburn Engineering Ltd, Zeeco, Inc., Kappa GI and VOCZero Ltd.

Industry Development:

In June 2022, PSG Dover began marketing vapor recovery devices under the name Blackmer. It gives the corporation the advantage of centralizing production and customer service under the brand name Blackmer.

In May 2022, Flogistix unveiled its new facility, expanding its production capacity. The new VRU complex, measuring 2, 59,000 square feet, is located in El Reno, Oklahoma.

The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Vapor Recovery Units market.

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Market Segments:

The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.

By Application (Processing, Storage, Chemical & Petrochemical)

By End-User (Oil & Gas, Others)

Regional Break out:

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

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Key Features

➧ Gain deep insights into market dynamics, trends, and opportunities to stay ahead in a competitive landscape.

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➧ Identify and target specific market segments with detailed intelligence on customer preferences and behaviours.

➧ Stay informed on regulatory changes and legal requirements impacting your industry to ensure compliance and mitigate risks.

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