What is Global Vapor Recovery Units Market?
The Global Vapor Recovery Units Market is a sector that focuses on the recovery of vapors such as gasoline or other fuels so they do not escape into the atmosphere. These units are essential in industries where volatile organic compounds (VOCs) are a byproduct. The vapor recovery unit is a system used to recover vapors that would be lost in normal conditions, converting them back into usable products. This not only prevents harmful emissions but also provides an economic benefit by capturing valuable hydrocarbons that can be reused. The market for these units is growing due to increasing environmental concerns and regulations. However, the market is also influenced by the cost of these units and the level of awareness about their benefits.
Less than 500 m3/h, 500-2000 m3/h, More than 2000 m3/h in the Global Vapor Recovery Units Market:
The Global Vapor Recovery Units Market can be segmented based on the capacity of the units. These segments include less than 500 m3/h, 500-2000 m3/h, and more than 2000 m3/h. The less than 500 m3/h segment includes units that are suitable for small scale industries or applications where the volume of vapors generated is relatively low. The 500-2000 m3/h segment includes units that are used in medium scale industries. These units are capable of handling a moderate volume of vapors. The more than 2000 m3/h segment includes units that are used in large scale industries where the volume of vapors generated is high. The choice of the unit depends on the volume of vapors that need to be recovered and the specific requirements of the application.
Gas Station, Tank Truck, Oilfield & Oil Refinery, Oil Depot in the Global Vapor Recovery Units Market:
The Global Vapor Recovery Units Market finds usage in various areas including gas stations, tank trucks, oilfields & oil refineries, and oil depots. At gas stations, these units are used to recover vapors that are released during the refueling of vehicles. In tank trucks, they are used to recover vapors that are released during the loading and unloading of liquids. In oilfields and oil refineries, these units are used to recover vapors that are generated during the extraction and refining of oil. In oil depots, they are used to recover vapors that are released during the storage and distribution of oil. The use of these units in these areas not only helps in reducing emissions but also in capturing valuable hydrocarbons that can be reused.
Global Vapor Recovery Units Market Outlook:
The global Vapor Recovery Units market has shown significant growth in recent years. In 2022, the market was valued at US$ 416.4 million and is expected to reach US$ 553.5 million by 2029. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 4.1% during the forecast period of 2023-2029. The most widely used area for these units in 2019 was gas stations, which accounted for about 64% of the global total. North America has been the largest region for the Vapor Recovery Units market in the past few years, accounting for more than 34% of the global market in 2019. This dominance can be attributed to the stringent environmental regulations in the region and the presence of a large number of industries that require these units.
| Report Metric | Details |
| Report Name | Vapor Recovery Units Market |
| Accounted market size in 2022 | US$ 416.4 million |
| Forecasted market size in 2029 | US$ 553.5 million |
| CAGR | 4.1% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Alma Group, Borsig (KNM Group Berhad), John Zink Hamworthy (Koch Industries), Symex, Aereon, Cool Sorption, VOCZero, Zeeco, Unimac (Air Mac), Kappa GI, Kilburn Engineering, S&S Technical, Platinum Control, OTA Compression, Flotech Performance Systems, Blackmer (PSG), PetroGas Systems, AQT, CORKEN, Bay Environmental Technology (Beijing) Corp., Jiangsu Golden Gate Energy & Equipment Co., Ltd, Shenzhen Autoware Science&Technology Co.,Ltd |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
