Increasing demand for vapor recovery units owing to stringent regulations on VOC emissions across the end-use industries, growing demand from truck, railcars, and pipelines, and recent technological developments are key factors contributing to the growth of market during the forecast period.
New York City, United States – June 18, 2020 /MarketersMedia/ —
According to the current analysis of Reports and Data, the global Vapor recovery unit market was valued at USD 813.2 million in 2018 and is expected to reach USD 1229.2 million by the year 2026, at a CAGR of 5.3%. 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.
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Key players mentioned in the research report 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
In terms of applications, the global Vapor Recovery Unit market can be segmented into:
Processing
Storage
Transportation
Railcar loading
Pipeline
In terms of End use, the global Vapor Recovery Unit market can be segmented into:
Brewery and food processing
Landfills
Oil and gas
Chemicals and Petrochemicals
Other end users
The Vapor Recovery Unit Market is analyzed on the basis of dynamics of demand and supply, pricing, total volume produced, revenue generated, and others. The manufacturing is studied on the basis of several factors such as manufacturing plant distribution, industry production, production capacity, and research and development. It also delivers accurate market evaluations with the use of SWOT analysis, investment analysis, returns analysis, and growth trend analysis, and others.
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For geographical segmentation, regional supply, application-wise, and type-wise demand, key players, and others, this report covers the following regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The report sheds light on the competitive landscape of the market that covers the product offerings, services, market shares, and business overview. This Vapor Recovery Unit Market research report covers various dynamic aspects like the market drivers, restraints and challenges, and growth prospects. The prominent and leading companies are profiled in the report.
Further key findings from the report suggest
• The Vapor recovery unit market is expected to expand primarily due to increased use of the VRU units to control environmental pollution
• VRU has applications in upstream and downstream processes. VRU is gaining benefits from upstream and downstream applications with low installation cost and high return on investment
• To reduce VOC emission, environmental regulations have been implemented in various countries which compelled the key players of crude oil and petroleum industry to install vapor recovery units, thus promoting the growth
• The rapid increase in the number of crude oil storage tanks with vapor recovery units in recent years makes it evident that crude oil producers are focusing on optimizing the storage and distribution process to tackle the growing crude oil price crisis
• The U.S. market will lead the North America vapor recovery services market throughout the assessment. The country is estimated to hold nearly 80% of market share of the North American VRU market
• Rapid industrialization and discovery of new shale oil and gas fields drive the market in the North American region
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This research report delivers a 360 overview of the competitive landscape of the Global Vapor Recovery Unit Market. Furthermore, it includes massive data regarding the latest trends, technological advancements, and methodologies.
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