Market Overview:
The global vapor recovery units (VRU) market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the VRU market can be attributed to the increasing demand for oil & gas, chemicals & petrochemicals, and pharmaceuticals. Additionally, the stringent environmental regulations across the globe are also fueling the growth of VRU market. On the basis of type, condensation accounted for majority share in 2017 and is projected to grow at a CAGR of 5.8% during forecast period 2018-2030 owing to its low cost and easy installation as compared to other types such as adsorption with carbon beds or molecular sieve and absorption.
Product Definition:
A vapor recovery unit (VRU) is a device that captures and recycles gasoline vapors from a refueling operation. Vapor recovery units are important because they help to prevent the release of fuel vapors into the atmosphere, which can contribute to air pollution.
Condensation:
Condensation is the process in which water vapor present in the gas phase gets converted to liquid form due to temperature change. The most commonly used refrigerant for this purpose is ammonia. Condensation can be differentiated from sublimation and snowfall by looking at two things, temperature and pressure. While condensation occurs when a substance is chilled, sublimation occurs when a solid changes directly into a gas without going through the intermediate liquid stage.
Adsorption with Carbon Beds or Molecular Sieve:
The adsorption with carbon beds or molecular sieve is used in the vapor recovery units (VRU) to remove contaminants from gas streams. The VRU includes a regenerator, adsorbent bed and desiccant system. Adsorbents are materials that can absorb a specific type of chemical substance and hold it tightly without allowing it to escape into the air.
Application Insights:
The oil & gas application segment led the global vapor recovery units (VRU) market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for natural gas from shale reserves as well as conventional sources across various regions including Asia Pacific, North America, and Europe. Moreover, technological advancements such as implementation of online VRU control systems are expected to drive demand further.
Increasing use of crude oil in the production of gasoline and other petroleum products has resulted in an increased need for efficient separation techniques that do not require additional capital investments or site modifications during operation phases.
Regional Analysis:
North America dominated the global market in 2017. The growth of the region can be attributed to increasing demand for natural gas from shale plays and growing oil & gas exploration activities in countries, such as Canada and United States. Furthermore, presence of key companies that are engaged in vapor recovery units manufacturing will drive the regional market further.
Asia Pacific is expected to witness significant growth over the forecast period owing to rising product demand from various end-use industries including chemicals & petrochemicals, pharmaceuticals, others. Rapid industrialization coupled with favorable government initiatives aimed at promoting energy security is anticipated to augment VRU installations across Asia Pacific region thereby driving its overall revenue share over the forecast period.
Growth Factors:
- Increasing demand for vapor recovery units from the oil and gas industry as a result of stringent environmental regulations
- Growing demand for VRUs in Asia Pacific due to the increasing number of refineries and petrochemical plants in the region
- Rising popularity of VRUs among small-scale operators owing to their low cost and easy installation
- Proliferation of vapor recovery systems in automobiles as a result of tightening emission norms by regulatory authorities across the globe
- Increasing adoption of VRUs by municipalities and other government organizations for managing fugitive emissions
Scope Of The Report
Report Attributes
Report Details
Report Title
Vapor Recovery Units (VRU) Market Research Report
By Type
Condensation, Adsorption with Carbon Beds or Molecular Sieve, Absorption
By Application
Oil & Gas, Chemicals & Petrochemicals, Pharmaceuticals, Others
By Companies
Carbovac, Borsig Membrane Technology, John Zink Company, Symex Technologies, Aereon, Hy-Bon/EDI, Cool Sorption, Voczero, Zeeco, Flogistix, Kappa GI, Kilburn Engineering, PetroGas Systems
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
232
Number of Tables & Figures
163
Customization Available
Yes, the report can be customized as per your need.
Global Vapor Recovery Units (VRU) Market Report Segments:
The global Vapor Recovery Units (VRU) market is segmented on the basis of:
Types
Condensation, Adsorption with Carbon Beds or Molecular Sieve, Absorption
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oil & Gas, Chemicals & Petrochemicals, Pharmaceuticals, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Carbovac
- Borsig Membrane Technology
- John Zink Company
- Symex Technologies
- Aereon
- Hy-Bon/EDI
- Cool Sorption
- Voczero
- Zeeco
- Flogistix
- Kappa GI
- Kilburn Engineering
- PetroGas Systems
Highlights of The Vapor Recovery Units (VRU) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Condensation
- Adsorption with Carbon Beds or Molecular Sieve
- Absorption
- By Application:
- Oil & Gas
- Chemicals & Petrochemicals
- Pharmaceuticals
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Vapor Recovery Units (VRU) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A Vapor Recovery Unit (VRU) is a device used to recover vaporized products from a manufacturing process. The VRU separates the vaporized product from the liquid by using heat and pressure.
Some of the key players operating in the vapor recovery units (vru) market are Carbovac, Borsig Membrane Technology, John Zink Company, Symex Technologies, Aereon, Hy-Bon/EDI, Cool Sorption, Voczero, Zeeco, Flogistix, Kappa GI, Kilburn Engineering, PetroGas Systems.
The vapor recovery units (vru) market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Vapor Recovery Units (VRU) Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Vapor Recovery Units (VRU) Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Vapor Recovery Units (VRU) Market - Supply Chain
4.5. Global Vapor Recovery Units (VRU) Market Forecast
4.5.1. Vapor Recovery Units (VRU) Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Vapor Recovery Units (VRU) Market Size (000 Units) and Y-o-Y Growth
4.5.3. Vapor Recovery Units (VRU) Market Absolute $ Opportunity
5. Global Vapor Recovery Units (VRU) Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Vapor Recovery Units (VRU) Market Size and Volume Forecast by Type
5.3.1. Condensation
5.3.2. Adsorption with Carbon Beds or Molecular Sieve
5.3.3. Absorption
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Vapor Recovery Units (VRU) Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Vapor Recovery Units (VRU) Market Size and Volume Forecast by Application
6.3.1. Oil & Gas
6.3.2. Chemicals & Petrochemicals
6.3.3. Pharmaceuticals
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Vapor Recovery Units (VRU) Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Vapor Recovery Units (VRU) Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Vapor Recovery Units (VRU) Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Vapor Recovery Units (VRU) Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Vapor Recovery Units (VRU) Demand Share Forecast, 2019-2026
9. North America Vapor Recovery Units (VRU) Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Vapor Recovery Units (VRU) Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Vapor Recovery Units (VRU) Market Size and Volume Forecast by Application
9.4.1. Oil & Gas
9.4.2. Chemicals & Petrochemicals
9.4.3. Pharmaceuticals
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Vapor Recovery Units (VRU) Market Size and Volume Forecast by Type
9.7.1. Condensation
9.7.2. Adsorption with Carbon Beds or Molecular Sieve
9.7.3. Absorption
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Vapor Recovery Units (VRU) Demand Share Forecast, 2019-2026
10. Latin America Vapor Recovery Units (VRU) Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Vapor Recovery Units (VRU) Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Vapor Recovery Units (VRU) Market Size and Volume Forecast by Application
10.4.1. Oil & Gas
10.4.2. Chemicals & Petrochemicals
10.4.3. Pharmaceuticals
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Vapor Recovery Units (VRU) Market Size and Volume Forecast by Type
10.7.1. Condensation
10.7.2. Adsorption with Carbon Beds or Molecular Sieve
10.7.3. Absorption
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Vapor Recovery Units (VRU) Demand Share Forecast, 2019-2026
11. Europe Vapor Recovery Units (VRU) Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Vapor Recovery Units (VRU) Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Vapor Recovery Units (VRU) Market Size and Volume Forecast by Application
11.4.1. Oil & Gas
11.4.2. Chemicals & Petrochemicals
11.4.3. Pharmaceuticals
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Vapor Recovery Units (VRU) Market Size and Volume Forecast by Type
11.7.1. Condensation
11.7.2. Adsorption with Carbon Beds or Molecular Sieve
11.7.3. Absorption
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Vapor Recovery Units (VRU) Demand Share, 2019-2026
12. Asia Pacific Vapor Recovery Units (VRU) Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Vapor Recovery Units (VRU) Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Vapor Recovery Units (VRU) Market Size and Volume Forecast by Application
12.4.1. Oil & Gas
12.4.2. Chemicals & Petrochemicals
12.4.3. Pharmaceuticals
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Vapor Recovery Units (VRU) Market Size and Volume Forecast by Type
12.7.1. Condensation
12.7.2. Adsorption with Carbon Beds or Molecular Sieve
12.7.3. Absorption
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Vapor Recovery Units (VRU) Demand Share, 2019-2026
13. Middle East & Africa Vapor Recovery Units (VRU) Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Vapor Recovery Units (VRU) Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Vapor Recovery Units (VRU) Market Size and Volume Forecast by Application
13.4.1. Oil & Gas
13.4.2. Chemicals & Petrochemicals
13.4.3. Pharmaceuticals
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Vapor Recovery Units (VRU) Market Size and Volume Forecast by Type
13.7.1. Condensation
13.7.2. Adsorption with Carbon Beds or Molecular Sieve
13.7.3. Absorption
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Vapor Recovery Units (VRU) Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Vapor Recovery Units (VRU) Market: Market Share Analysis
14.2. Vapor Recovery Units (VRU) Distributors and Customers
14.3. Vapor Recovery Units (VRU) Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Carbovac
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Borsig Membrane Technology
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. John Zink Company
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Symex Technologies
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Aereon
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Hy-Bon/EDI
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Cool Sorption
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Voczero
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Zeeco
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Flogistix
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Kappa GI
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Kilburn Engineering
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. PetroGas Systems
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook