Press release
Vapor Recovery Units Market Will Surpass $1,584.30 Million by 2034 at 2.9% CAGR Growth
Vapor Recovery Units Market
The vapor recovery units market report by Polaris Market Research offers an in-depth comprehension of the rapidly growing sector. It covers all the key market aspects, including market share, size, trends, and recent developments. In addition, an assessment of the key market regions, major segments, and competitive landscape has been provided.
The vapor recovery units market size was valued at USD 1,193.28 million in 2024. With a CAGR of 2.9% during 2025-2034, the market is projected to grow to USD 1,584.30 million by 2034.
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Market Introduction
Vapor recovery units (VRUs) are systems designed to capture and recover volatile organic compounds (VOCs) or hydrocarbon vapors. These units capture VOCs or hydrocarbon vapors that are typically lost during the storage, loading, or transfer of fuels and other volatile liquids. These vapors, if not recovered, can make their way into the atmosphere and lead to the loss of valuable products and air pollution. VRUs work by drawing in vapors from storage tanks and compressing them using a compressor. The compressed vapors are then cooled, condensed into liquid form, and returned to the storage system. Any remaining non-condensable gases are either reused as fuel or safely vented. VRUs are commonly used in the oil and gas industry at storage terminals, tank farms, and pipelines to reduce emissions and improve efficiency.
Market Dynamics
• Stringent Environmental Regulations: Governments are implementing stringent emission standards to control volatile organic compounds (VOCs) and hazardous air pollutants released during the handling and storage of petroleum products. For instance, the United States Environmental Protection Agency (EPA) has placed regulations under the Clean Air Act. These regulations mandate the use of vapor recovery technologies at various oil and gas facilities to reduce emissions. Thus, the implementation of stringent environmental regulations is propelling the vapor recovery units market demand.
• Growing Focus on Sustainable Operations: Companies across various industries are under increasing pressure to reduce their environmental footprint. Vapor recovery units play a crucial role in achieving these sustainability goals by capturing and recovering valuable hydrocarbons that would otherwise lead to air pollution. Thus, the rising emphasis on environmental sustainability and the demonstrated ability of VRUs to contribute to emission reduction efforts are significantly driving market growth.
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Market Key Players
The competitive landscape of the market is characterized by the presence of both established players and new entrants. A few of the major market participants are:
• Aereon (a Jordan Technologies company)
• Baylor Evaporation Solutions
• Caldwell Energy Company
• Cimarron Energy
• Hy-Bon/EDI (a division of Tetra Technologies, Inc.)
• John Zink Hamworthy Combustion (a Koch Engineered Solutions company)
• PSG Dover (part of Dover Corporation)
• Quincy Compressor LLC (an Atlas Copco company)
• UOP LLC (a Honeywell company)
• VOC Zero
• Zeeco, Inc.
Regional Assessment
North America accounts for the largest market share. The regional market dominance is primarily attributed to its early adoption of stringent environmental regulations, especially in the US. These regulations mandate the use of vapor recovery technologies across various industrial sectors, especially oil and gas. In addition, the presence of a well-established oil and gas sector and increased focus on environmental sustainability contribute to the region's leading market position.
Asia Pacific is projected to exhibit the highest growth rate in the coming years. The region's robust market growth is driven by its increasing industrialization and urbanization across countries like India and China. This had led to increased demand for petroleum products and a subsequent rise in VOC emissions.
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Market Segmentation
Vapor Recovery Units Market, Application Outlook
• Processing
• Storage
• Transportation
• Railcar Loading
Vapor Recovery Units Market, Technology Outlook
• Absorption
• Condensation
• Membrane Separation
• Adsorption
Vapor Recovery Units Market, End-User Outlook
• Oil & Gas
• Chemicals & Petrochemicals
• Landfills
• Others
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