Dublin, May 06, 2021 (GLOBE NEWSWIRE) -- The "Vapor Recovery Unit Market Size, Share & Analysis, By Application (Processing, Storage, Transportation, And Railcar Loading, End-Use Industry (Oil & Gas, Chemicals & Petrochemicals, Landfills And Others), And By Region, Global Forecast To 2028" report has been added to ResearchAndMarkets.com's offering.
The global vapor recovery unit market size is expected to reach USD 1,340.3 Million in 2028, and register a CAGR of 4.8%
Increasing VOC (Volatile Organic Compounds) from industrial activities, and need for appropriate to obstruct emissions from releasing in the atmosphere are key factors driving market revenue growth.
Rising investment in technological advancements and development of cost-effective vapor recovery units by major players.
Increasing use of solvents in various industrial manufacturing units is leading to release of VOC emissions, and in order to obstruct release of VOC emissions from industrial verticals into atmosphere, and to comply with government regulations regarding environmental pollution, industry players need to install vapor recovery units at gas plants. These are major factors expected to drive market growth to a significant extent.
These units are installed in various industries for applications in petroleum distribution terminals, chemical and petrochemical plants, and crude-oil tanks, among various others. Recovery units are used for process of compressing and recovering vapors released while petroleum filtration process. These are other major factors expected to drive growth of the global vapor recovery unit market.
Fluctuating costs of crude oil, and high capital investments required for production and installation of these units are factors that could hamper growth of the global vapor recovery unit market to some extent.
Some Key Findings From the Report:
Among the application segments, the transportation segment accounted for major revenue share in 2020. The storage segment is expected to register a robust revenue CAGR during the forecast period.
Among the end-use segments, the oil & gas segment accounted for the largest revenue share in 2020, due to increasing installation of vapor recovery units in downstream process in oil & gas industry, in chemicals and petrochemicals industry and others, and government regulations regarding VOC emissions released in the atmosphere.
The Asia Pacific market is expected to register a robust revenue CAGR over the forecast period, due to rapidly growing industries and manufacturing plants, and stringent government regulations to install vapor recovery units.
Europe market accounted for the largest revenue share in 2020, and is expected to continue with its dominance during the forecast period, due to large number of manufacturing plants and need for vapor recovery units in these plants.
The North America market accounted for considerably large share in terms of revenue in 2020. The US market is expected to contribute the largest revenue share to the North America market.
Companies profiled in the market report include 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. The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020 - 2028
Chapter 3. Indicative Metrics
3.1. Growing demand for emission control systems
3.2. Environmental regulation to reduce VOC emissions
Chapter 4. Vapor recovery unit Market Segmentation & Impact Analysis
4.1. Vapor recovery unit Segmentation Analysis
4.2. Vapor recovery unit Market Value Chain Analysis, 2018 - 2028
4.3. Regulatory framework
4.4. Vapor recovery unit Market Impact Analysis
4.4.1. Market driver analysis
184.108.40.206. Growing demand from transportation and logistics sector
220.127.116.11. Technological advancements
4.4.2. Market restraint analysis
18.104.22.168. High installation costs
22.214.171.124. Fluctuating prices of crude oil
4.5. Key opportunities prioritized
4.6. Vapor recovery unit Pricing Analysis
4.7. Industry analysis - Porter's
4.8. Vapor recovery unit PESTEL Analysis
Chapter 5. Vapor recovery unit Market by application Insights & Trends
5.1. Vapor recovery unit Type dynamics & Market Share, 2021 & 2028
5.5. Railcar loading
Chapter 6. Vapor recovery unit Market by End use Insights & Trends
6.1. Vapor recovery unit Disease Type dynamics & Market Share, 2021 & 2028
6.2. Brewery and food processing
6.4. Oil and gas
6.5. Chemicals and Petrochemicals
Chapter 7. Vapor recovery unit Market Regional Outlook
7.1. Vapor recovery unit Market share by region, 2021 & 2028
Chapter 8. Competitive Landscape
8.1. Market Revenue Share by Manufacturers
8.2. Manufacturing Cost Breakdown Analysis
8.3. Mergers & Acquisitions
8.4. Strategy Benchmarking
8.5. Vendor Landscape
Chapter 9. Company Profiles
John Zink Company LLC
Cimarron Energy Inc.
Accel Compression Inc.
Whirlwind Methane Recovery Systems LLC.
For more information about this report visit https://www.researchandmarkets.com/r/p12g9e
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