Press release
Vapour Recovery Units Market Forecast Through 2031 Highlighting Emerging Applications in Processing Storage and Transportation
Vapour Recovery Units Market
According to the latest research by InsightAce Analytic, the Global Vapour Recovery Units Market is valued at US$ 0.84 Bn in 2022, and it is expected to reach US$ 1.16 Bn by 2031, with a CAGR of 3.7% during a forecast period of 2023-2031.
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Vapour recovery units (VRUs) are compression systems designed to collect and compress low-pressure gas streams for reinjection into the suction side of larger blowers. These units play a critical role in downstream operations within the oil and gas industry, particularly in the purification process and recovery of intermediate products. The growing emphasis on environmental sustainability and resource optimization has increased the importance of VRUs, thereby contributing significantly to the expansion of the market.
In addition to the oil and gas sector, rising demand across food processing and brewing industries-driven by growing needs for storage and transportation of volatile compounds-is further supporting the growth of the vapour recovery units market. The market is also benefiting from strategic partnerships, technological innovations, and the introduction of advanced VRU systems aimed at enhancing operational efficiency and emissions control. Continued economic development and the adoption of modern technologies are expected to bolster long-term market growth.
Nevertheless, challenges persist. VRUs are typically skid-mounted assemblies, and improper installation, including inadequate ground anchoring and incorrect compressor configuration, can lead to system inefficiencies. Such errors often result in operational disruptions, safety hazards, and environmental concerns. These installation and handling issues may hamper industry growth. Despite these obstacles, companies are actively pursuing innovation and expanding into emerging markets, intensifying competition and driving the overall growth of the vapour recovery units market.
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List of Prominent Players in the Vapour Recovery Units Market:
• PSG Dover
• Petrogas Systems
• Aareon
• Cimarron Energy, Inc.
• John Zink Company, Llc
• Carbovac
• Symex Technologies
• Borsig Membrane Technologies
• Cool Sorption A/S
• Voczero Ltd.
• Zeeco
• Flogistix
• Kappa Gi Srl
• S&S Technical Services, Llc
• Platinum Vapor Control
• Whirlwind Methane Recovery Systems
• OTA Compression, Llc
• Flotech Performance Systems Ltd.
• Unimac
• Power Service
• Prematecnica De Mexico
• Aqt (Advanced Quality Technologies)
• Warner Nicholson Engineering Consultants (Wnec)
• Garo Engineered Solutions
• Kilburn Engineering
• Ametek Fluid Solutions
Market Dynamics:
Market Drivers:
The rising demand for vapour recovery units (VRUs) is primarily driven by the increased need for flash gas recovery at near-atmospheric pressure within the oil and gas industry. This process mitigates the risk of oxygen intrusion into storage tanks by facilitating vapour formation inside sealed tanks, significantly reducing emissions to below 5 tons annually. The growing global demand for oil and gas, coupled with the implementation of stricter environmental regulations, is further propelling the adoption of VRUs, thereby accelerating market growth.
Market Challenges:
One of the primary challenges hindering the growth of the vapour recovery units market is the high initial cost and limited awareness of vapour generation processes, particularly in developing countries that have experienced lockdowns and operational disruptions. VRUs are typically customized to meet specific plant requirements, with variations in size, capacity, and processing features across different upstream and downstream applications. This customization leads to higher costs associated with design, component procurement, and installation. As a result, the significant capital investment required for VRUs, compared to certain alternative technologies, may restrict broader market adoption in the coming years.
Regional Trends:
The Asia-Pacific region is expected to command a significant share of the global vapour recovery units market and demonstrate a strong compound annual growth rate (CAGR) in the forecast period. Rapid urbanization, industrial expansion, and a growing population are contributing to a surge in fossil fuel demand, thereby boosting VRU deployment. Economic growth in the region further supports this trend. Europe also holds a notable share of the market, supported by recent shale oil and gas discoveries and a well-established industrial base. The presence of leading industry players and ongoing strategic collaborations aimed at enhancing regional market penetration present substantial growth opportunities for the global vapour recovery units market.
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Recent Developments:
• In May 2023, Cool Sorption recently announced that it has successfully secured a contract for the provision of a Methanol Vapour Recovery Unit. The aforementioned contract served as an acknowledgement of Cool Sorption's demonstrated experience and dedication to delivering inventive solutions while adhering to the most stringent benchmarks of efficiency.
• In January 2022, PSG Dover launched a new brand of vapour recovery equipment called Blackmer. The company may streamline its production and customer support operations more effectively by rebranding under the Blackmer name.
Segmentation of Vapour Recovery Units Market-
By Application -
• Processing
• Storage
• Transportation
By End-use industry -
• Oil & gas
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
Read Overview Report- https://www.insightaceanalytic.com/report/vapour-recovery-units-market/2106
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
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info@insightaceanalytic.com
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