The global Vapor recovery unit market was valued at USD 913.8 Million in 2020 and is expected to reach USD 1,340.3 Million by 2028, at a CAGR of 4.8%. The study of Vapor recovery includes recovery of fuel and gasoline vapors from storage tanks, which restrict the escape of vapors into the atmosphere. The unit is to restrict, store, withdraw vapors from storage tanks. This process is done in filling stations to reduce explosive fumes and pollution. Use of vapor recovery unit would reduce harmful methane emissions from the crude oil storage tanks. The vapor recovery unit is expected to expand due to several countries regulating the use of the vapor recovery unit to curb the increasing environmental pollution.
Underground crude oil contains many lighter hydrocarbons in solution. When the oil is brought to the surface and processed, many of the dissolved lighter hydrocarbons (as well as water) are removed through a series of high-pressure and low-pressure separators. The crude oil is then injected into a storage tank to await sale and transportation off site; the remaining hydrocarbons in the oil are emitted as vapors into the tank. The same principles apply for condensate, which accumulates as a result of the conditions within the pipelines and is removed ahead of the first compressor station. The recovered condensate, which contains dissolved light hydrocarbons, is routed to a storage tank where the dissolved light hydrocarbons are emitted as vapors. These vapors are either vented, flared, or recovered by vapor recovery units (VRUs).
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Key market players are HY-BON/EDI, PSG Dover, AEREON, Petrogas Systems, John Zink Company, LLC, Cimarron Energy Inc., Wintek Corporation, Accel Compression Inc., and Whirlwind Methane Recovery Systems, LLC
Further key findings from the report suggest
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For the purpose of this report, Reports and Data has segmented the vapor recovery unit market on the basis of application end use, and region:
Application (Revenue, USD Million; 2018–2028)
End use (Revenue, USD Million; 2018–2028)
The report sheds special focus on the factors that propel the growth of the industry. For better understanding, the report segments the Vapor Recovery Unit Market into key divisions such as types, applications, end-use, technology, region, and others. These segments are extensively analyzed to offer better forecast for the global and regional market and key factors influencing their growth are also covered in the report.
Regional Analysis Covers:
North America (U.S.A., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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