Global Vapor Recovery Units Market: Market Segments: By Application ; By End-Use Industry ; and Region – Analysis of Market Size, Share & Trends and Forecasts to 2028
The Global Vapor Recovery Units Market is set for substantial growth due to stringent emission regulations and increasing oil & gas and petrochemical production.
TechSci Research report "Vapor
Recovery Units Market - Global Industry Size, Share, Trends, Opportunity,
and Forecast 2018-2028," these units play a crucial role in capturing
hydrocarbon gas for reuse or reinjection into oil wells, thus complying with
emission standards. They are widely utilized in chemical industries to extract
unwanted vapors, ensuring chemical purity and safe handling. With the
capability to capture up to 95% of Btu-rich vapors, these units contribute to
enhanced profitability and reduced operating costs. Their applications span
various sectors, including oil tank vapors, marine loading terminals, storage
terminals, truck and railcar loading, barge degassing, and vapor particulate
filtering, among others.
Technological advancements in
vapor recovery units are driving market growth, particularly with the adoption
of membrane separation technology. This innovative approach utilizes a
semipermeable membrane for filtration, offering higher recovery rates and lower
maintenance costs compared to traditional methods like condensation. As the
market continues to evolve with novel techniques and technologies, further
expansion is expected in the coming years.
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The Global Vapor Recovery
Units Market is categorized by application, end-use, technology, and region.
Application-wise, it includes processing, storage, transportation, railcar, and
loading. End-use categories comprise oil & gas, chemicals & petrochemicals,
landfills, and others. Technological classifications consist of absorption,
condensation, membrane separation, and adsorption. Regionally, it spans North
America, Asia-Pacific, Europe, South America, and the Middle East & Africa.
In the oil & gas sector,
Vapor Recovery Units (VRUs) are crucial, particularly in offshore operations
where emissions control is challenging due to remote locations and strict
environmental regulations. VRUs capture Volatile Organic Compounds (VOCs) released
during drilling, production, and processing, essential for environmental
protection and regulatory compliance. The industry's increasing focus on
sustainability drives VRU adoption, showcasing commitment to environmental
stewardship and aligning with global sustainability initiatives.
Among technologies, membrane
separation stands out for its effectiveness in capturing and recovering VOCs
from various industrial processes, including oil and gas operations. Membrane
separation offers high selectivity and efficiency, making it ideal for removing
VOCs from exhaust gases and ensuring compliance with emissions regulations.
Industries like oil and gas, petrochemicals, and chemical manufacturing favor
membrane-based VRUs for their reliability and economic benefits 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 poised to lead the market in the forecast period due to
its extensive oil and gas activities, including shale gas production, drilling,
refining, and distribution, resulting in significant VOC emissions. Vapor
Recovery Units (VRUs) are integrated into these operations to capture emissions
from storage tanks, production facilities, and transportation. This adoption of
VRUs aligns with the industry's goals of emission reduction, regulatory
compliance, and operational sustainability," stated Mr. Karan Chechi,
Research Director at TechSci Research.
The report "Vapor
Recovery Units Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028," evaluates the future growth potential of
the global VRU market, providing insights on size, structure, and future
growth. It aims to offer cutting-edge market intelligence for informed
decision-making, identifying emerging trends, drivers, challenges, and
opportunities in the global VRU market.
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