Global Vapor Recovery Units Market is expected to grow owing to stringency of regulation and increasing production oil & gas and petrochemicals throughout the forecast period.
According to TechSci Research report, “Vapor Recovery Units Market – Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028”, the Global Vapor Recovery Units Market is expected to register robust growth during the forecast period owing to the implementation of stringent emission regulations. These units also facilitate the recovery of hydrocarbon gas, which can be utilized as fuel or reinjected into oil wells. They are increasingly employed in chemical industries to extract unwanted vapors from storage units, thereby enhancing the purity of chemicals and ensuring their safe handling and transportation. These units are designed to capture nearly 95% of Btu-rich vapors, contributing to improved profitability and reduced operating costs. They find application in various sectors such as oil tank vapors, marine loading terminals, storage terminals, truck loading, railcar loading, barge degassing, and vapor particulate filtering, among others. This adsorption-based recovery unit offers a comprehensive filtration system for managing vapor offset during the liquid loading of trucks, railcars, marine vessels, or tanks. In this unit, hydrocarbons are adsorbed by an activated carbon bed to purify the air discharged from the system.
The pace of technological innovation and advancement is ceaseless. The market for vapor recovery units is witnessing substantial growth in novel technologies. Considering these advancements, consumer preference has shifted from traditional condensation techniques to the application of membrane separation technology. This technology employs a semipermeable membrane for the filtration process. The combination of condensation and membrane separation technologies has proven highly effective and efficient, resulting in increased recovery rates and reduced maintenance costs. Over the projected period, the market for vapor recovery units could experience further expansion, driven by innovative techniques and technologies.
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The Global Vapor Recovery Units Market is segmented based on application, end-use, technology and region. Based on application, the market is bifurcated into processing, storage, transportation, railcar and loading. Based on end-use, the market is bifurcated into oil & gas, chemicals & petrochemicals, landfills and others. Based on technology, the market is bifurcated into absorption, condensation, membrane separation and adsorption. Based on region, the market is further bifurcated into North America, Asia-Pacific, Europe, South America, Middle East & Africa.
Based on end-use, Oil & Gas segment is expected to dominate the market during the forecast period. Offshore oil and gas platforms and facilities encounter distinctive challenges in emissions control as a result of their remote locations and stringent environmental regulations. Vapor Recovery Units (VRUs) are utilized in offshore operations to capture Volatile Organic Compounds (VOCs) released during drilling, production, and processing activities. The ability to recover VOCs and diminish emissions is vital in offshore environments, where emissions can directly impact marine ecosystems and air quality. In addition to regulatory compliance, the oil and gas industry’s growing emphasis on sustainability and corporate responsibility has stimulated the adoption of VRUs. Companies are proactively investing in emission control technologies such as VRUs to showcase their commitment to environmental stewardship, reduce their carbon footprint, and align with global sustainability initiatives. VRUs play a critical role in addressing VOC emissions throughout all stages of oil and gas operations, ensuring compliance with regulations, enhancing operational efficiency, and contributing to the industry’s broader sustainability objectives.
Based on technology, Membrane Separation segment is projected to dominate the market throughout the forecast period. It plays a crucial role in capturing and recovering volatile organic compounds (VOCs) from various industrial processes, including oil and gas operations, petrochemicals, chemical manufacturing, and transportation. Membrane separation is an efficient and environmentally friendly method for separating VOCs from gas streams, contributing to emissions reduction and regulatory compliance. Membrane separation is a physical process that utilizes semipermeable membranes to separate different components from a gas mixture based on their molecular size, polarity, and solubility. In the context of VRUs, membrane separation technology is employed to capture and recover VOCs from gas streams emitted during various industrial operations. The technology offers high selectivity and efficiency, making it well-suited for removing VOCs and other contaminants from exhaust gases. Membrane separation technology has gained traction in industries that emit VOCs and are subject to emissions regulations. The oil and gas sector, petrochemical industry, and chemical manufacturing are prominent users of membrane-based VRUs. These industries are attracted to the technology’s efficiency, reliability, and potential for economic returns through VOC recovery.
Key market players in the Global Vapor Recovery Units Market are:-
- BORSIG Membrane Technology GmbH
- John Zink Company, LLC
- Symex GmbH & Co. KG
- Hy-Bon Engineering Company, Inc.
- Cool Sorption A/S
- VOCZero Ltd.
- Zeeco, Inc.
- FLOGISTIX, LP
- Kappa GI
- Kilburn Engineering Ltd Thermax Limited
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“North America is expected to dominate the market during the forecast period as the region’s vast oil and gas operations, encompassing shale gas production, drilling, refining, and distribution, result in significant emissions of VOCs. VRUs are integrated into these operations to capture VOCs emitted from storage tanks, production facilities, and transportation activities. The adoption of VRUs aligns with the industry’s commitment to emission reduction, regulatory compliance, and operational sustainability enhancement.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Vapor Recovery Units Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Application (Processing, Storage, Transportation, Railcar and Loading), By End-Use (Oil & Gas, Chemicals & Petrochemicals, Landfills and Others), By Technology (Absorption, Condensation, Membrane Separation and Adsorption), By Region, By Competition Forecast & Opportunities, 2018-2028F, By Region,” has evaluated the future growth potential of Global Vapor Recovery Units Marketand provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Vapor Recovery Units Market.
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