Vapour Recovery Unit Market

2019 Analysis and Review of Vapour Recovery Unit Market by Technology - Membrane Separation, Adsorption, Condensation, and Absorption for 2019 - 2029

  • 2020-03-04
  • REP-GB-993
  • 39 Tables
  • 162 Figures
  • 230 pages
  • Format: PDF/PPT/Excel
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Vapour Recovery Unit Market to Cross US$ 1 Bn Mark in 2020

Considering existing concerns to achieve sustainability, significant attention will hover around the oil & gas sector, which accounts for one-third of global emissions. In an effort to curb climate changes to the required scale, industrial operators are adopting technologies that would substantially upend energy consumption in both, downstream and upstream oil & gas services. As worldwide energy demand is poised to surge in the coming decades, the pressure to act on climate change will heighten. Amidst these trends, the global vapour recovery unit (VRU) market is set to grow at a promising rate during 2019-2029. As suggested by the new FMI report, the market will surpass the billion-dollar mark in 2020.

Frequently Asked Questions about Vapour Recovery Unit Market

What is the growth outlook of the vapour recovery unit market?

Vapour recovery units are vital for the oil & gas industry, as these are used to restrict loss of crude oil from storage tanks through restriction of vapour. With regulations imposed on reducing VOC emissions and greenhouse gas emissions, the demand for vapour recovery unit solutions is expected to rise substantially during the forecast period.

Which segment will gain healthy traction over the coming decade?

By application, marine loading and railcar loading are expected to register substantial growth rates, attributable to increasing consumption of crude oil in these sectors. Extensive usage of VRUs in upstream applications and high cost of these units in upstream are anticipated to spur the growth of the upstream segment.

Which trend will shape the global vapour recovery unit market?

In recent years, a shift in consumer preference is being observed from vapour recovery units with condensation technology to those with membrane separation technology. Membrane separation technology VRUs provide a higher recovery rate and extensive reduction in maintenance cost.

What is the degree of competitiveness among players in the global market?

The global vapour recovery unit market is fragmented, due to the presence of numerous players in the global market. Multiple players have prominence in specific regions, but some players have global coverage due to their export businesses. Players such as Zeecon Inc, Gardner Denver Holdings Inc., and John Zinc Company LLC are identified as tier-1 players.

Which region offers considerable growth opportunities for players in the vapour recovery unit market?

APEJ is anticipated to offer lucrative opportunities for the global vapour recovery unit market. Milestone oil & gas industry developments on the back of intense consumption in markets such as China and India are expected to reinforce the sales of vapour recovery units in the APEJ region. With immense potential for oil & gas exploration activities, the market of MEA is also expected to flourish during the slated course of time.

Adsorption and Membrane Separation - Preferred Technologies

Vapour recovery units based on the adsorption principle will continue to shape the market landscape in the coming years. While considering cost and operational efficiency, adsorption-based VRUs are a universal choice among end users. Moreover, these vapour recovery units would near revenue worth around US$ 1 Bn towards the end of the projection period. However, VRUs based on membrane separation technology are likely to witness greater demand growth owing to their straightforward installation and usage.

Stakeholders Eye North America and APEJ for Bigger Margins

Combination of strong foothold of manufacturers and rising upstream & downstream projects are providing a spurt to the vapour recovery unit market in North America and Western Europe. Collectively capturing around 70% of total demand, the market in these developed regions would also be driven by strict mandates regarding greenhouse gas (GHG) emissions. The vapour recovery unit market in Asia Pacific excluding Japan (APEJ) is flourishing at a staggering rate, attributable to increasing gas demand from industry-adjacent sectors in China and ASEAN countries.

Regulatory Framework to Add Another Leg of Market Growth

In the race towards a net-zero future, governments across the globe are imposing stringent norms regarding volatile organic compounds (VOC) emissions from storage tanks. Vapour recovery units prevent the escaping of vapours from storage tanks, and help allay VOC emissions by around 90%. Additionally, they help reduce crude oil wastage in upstream & downstream operations. In order to sustain air quality index, companies, especially in oil & gas field services, are installing vapour recovery units in their manufacturing facilities. This, in turn, would translate into exponential demand for vapour recovery units.

High usage in downstream operations

Application in upstream operations to remain sluggish

Demand upsurge in oil & gas compressors

Adoption in brewery and food processing sector to rise

Storage tank vents remain key application area

Railcar loading to offer lucrative prospects

Adsorption remains the preferred technology

Membrane separation to gain momentum

How Growth will Unfold

Oil & gas compressors would generate over 70% of overall returns to market players as compared to other end-use sectors. Increasing need for storage and transportation of oil & gas to outpace their demand growth is resulting in widespread adoption of vapour recovery units in oil & gas compressors. Manufacturers are also witnessing demand upheaval in the brewery and food processing sectors, despite contributing marginally to vapour recovery unit market revenue. Although the usage of vapour recovery units in these end-use categories is accelerating, market players continue to create maximum value from oil & gas compressors.

Oil & Gas Compressors Remain Prime Adopters of Vapor Recovery Units

* This data is only a representation. Actual data may vary and will be available in report.

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Overview

Vapour Recovery Unit Market Analysis 2019-2029

A recent market study published by Future Market Insights on the vapour recovery unit market includes global industry analysis of 2014-2018 and opportunity assessment for 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. 2019 is considered as the base year for macroeconomic and forecast factors by the team in order to generate values for the forecast years up to 2029.

Vapour Recovery Unit Market Taxonomy

The global vapour recovery unit market is segmented in detail to cover every aspect of the market, and present complete market intelligence to readers.

Technology

  • Membrane Separation
  • Adsorption
  • Condensation
  • Absorption

Application

  • Marine Loading
  • Truck Loading
  • Railcar Loading
  • Pipelines
  • Storage Tank Vents

Process

  • Upstream
  • Downstream

End Use

  • Oil & Gas Compressors
  • Landfills
  • Brewery and Food Processing
  • Others

Region

  • APAC
  • Americas
  • Europe
  • MEA

What's Included

The report starts with the executive summary of the vapour recovery unit market, which includes a summary of the key findings and statistics. It also includes the demand & supply-side trends pertaining to the vapour recovery unit market.

Readers can find the definition and a detailed taxonomy of the vapour recovery unit market in this chapter, which will help them understand basic information about the market. This section also highlights the inclusions and exclusions, which help readers understand the scope of the vapour recovery unit market report.

Herein, the reader can find supportive factors like macroeconomics along with an in-depth overview for parent market, as well as global oil & gas industry overview. Moreover, in this chapter, we have also included patent analysis and industry developments.

This section explains the global market volume and value analysis and forecast for the vapour recovery unit market during the forecast period 2019-2029. This chapter includes a detailed analysis of the historical vapour recovery unit market, along with an opportunity analysis for the future. Readers can also find the absolute $ opportunity for the current year, and an incremental $ opportunity for the forecast period (2019-2029). Along with this, pricing analysis of the vapour recovery unit market at the regional level has been provided in this section. This section also explains the global market volume analysis and forecast for the vapour recovery unit market.

This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the vapour recovery unit market report.

Based on technology, the vapour recovery unit market is segmented into membrane separation, adsorption, condensation, and absorption. In this chapter, readers can find information about key trends and developments in the vapour recovery unit market and market attractiveness analysis based on technology.

Based on application, the vapour recovery unit market is segmented into marine loading, truck loading, railcar loading, pipelines and storage tank vents. In this chapter, readers can find information about key trends and developments in the vapour recovery unit market and market attractiveness analysis based on application.

This chapter provides details about the vapour recovery unit market based on process, and has been classified into upstream and downstream. In this chapter, readers can understand the market attractiveness analysis based on process.

This chapter provides details about the vapour recovery unit market based on end use, and has been classified into oil & gas compressors, landfills, brewery and food processing, and others. In this chapter, readers can understand the market attractiveness analysis based on end use.

This chapter explains how the vapour recovery unit market is expected to grow across various geographical regions such as Americas, Europe, APAC, and the Middle East & Africa.

This chapter includes a detailed analysis of the growth of the North America vapour recovery unit market, along with a country-wise assessment that includes U.S. and Canada. Readers can also find pricing analysis, trends, and market growth based on segments and countries in North America.

This chapter highlights the growth of the vapour recovery unit market in Latin America by focusing on Mexico, Brazil and Rest of Latin America. This section also helps readers understand key factors that are responsible for the growth of the vapour recovery unit market in Latin America.

Important growth prospects of the vapour recovery unit market in several countries such as Germany, France, U.K., Italy and Rest of Western Europe are included in this chapter.

This chapter includes a detailed analysis of the growth of the Eastern Europe vapour recovery unit market, along with a country-wise assessment that includes Russia, Poland and Rest of Eastern Europe. Readers can also find trends, and market growth based on segments and countries in Eastern Europe.

This chapter highlights the growth of the vapour recovery unit market in APEJ by focusing on China, India, ASEAN and Rest of Asia Pacific. This section also helps readers understand key factors that are responsible for the growth of the vapour recovery unit market in APEJ.

This chapter provides information about how the vapour recovery unit market is anticipated to grow in major countries in the MEA region such as GCC, Turkey, South Africa and Rest of MEA during the forecast period of 2019-2029.

In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the vapour recovery unit market, along with detailed information about each company, which includes the company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Hy Bon/EDI, AEREON, PSG Dover, Gardner Denver Holdings, Petrogas Systems, John Zinc Company LLC, Foremost Brahma, BOROSIG Membrane Technology, and Zeeco Inc.

This chapter helps readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the vapour recovery unit market.

This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the vapour recovery unit market report.

How the research was conducted?

Primary Research

  • Chief Executive Officer
  • Vice President
  • Sales Head
  • Product Manager
  • Marketing Head
  • Deputy Manager -Marketing & Communications
  • Marketing Manager
  • Sales Manager
  • Distributors
  • Customer Service Representative
  • Current market dynamics and challenges
  • End Use Industry Segment Split and Authenticity
  • Yesteryear trends 
  • Market characteristics
  • Competition structure and market structure
  • Strategic growth initiatives
  • Market segment splits and authenticity
  • Near-term and long-term market growth prospects
  • Opinions on market projections and validity of assumptions

Secondary Research

  • OICA
  • World Bank
  • IEA
  • U.S. Environmental Protection Agency
  • European Commission

Primary Interview Splits

Primary Interview Splits vapour recovery unit market designation

Primary Interview Splits vapour recovery unit market stakeholder

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