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Pulished Date September, 2020
ID: 10103
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Vapor Recovery Units Market By Type (Convectional Vapor Recovery Unit and Ejected Vapor Recovery Unit), Process (Absorption, Condensation and Membrane Separation), Application (Upstream and Downstream in Oil and Gas, Landfills and Pharmaceuticals) And Segment Forecasts, 2020- 2025

Pulished: September, 2020
ID: 10103
Pages: 175

Vapor Recovery Units Market Overview

The global vapor recovery unit industry was worth USD 787.1 million in 2020 and is predicted to reach USD 1,007.4 million by 2025, with a CAGR of 5.9% from 2020 to 2025. Its main function is to recover the vapors formed inside the sealed tanks. Vapors from storage tanks are harmful to the environment. Vapor recovery units are in great call due to their environmentally friendly and efficient nature and their safety in use. Vapor recovery is a term employed for the recovery of fuel and gasoline vapors from storage tanks, which limit the escape of the vapors to the atmosphere. The unit is employed to restrict, store, remove and refine the vapor from gas storage tanks. Vapors in storage tanks are harmful to the environment and economically beneficial. Vapor recovery is in high call due to its eco-friendly and efficient nature and user safety. Using a vapor recovery unit would reduce harmful methane emissions from crude oil storage tanks.The vapor recovery unit industry has seen significant development in recent years and is predicted to grow significantly over the foreseen period. Vapor recovery is a term employed for the recovery of fuel and gasoline vapors from capacity tanks, limiting the escape of vapors to the environment. The unit is employed to retain, store, refine, and remove vapor from gas tanks employed for storage. The vapors in the tanks are destructive to the atmosphere and economically useful.

Recent Developments and Trends

Fuel management firm Eaton will showcase its on-board Refueling Vapor Recovery system. The vehicle's emission control system collects fuel vapor that evaporates during the refueling process of a vehicle to burn it during normal operation.

Vapor Recovery Units Market Drivers

VOCs emitted from various oil and gas storage facilities and during transportation operations are becoming a major environmental concern for various governmental and non-governmental organizations in North America. These compounds are dangerous air pollutants. To reduce the harmful effects of VOC emissions, environmental laws have been implemented in several North American countries regarding emission standards. Vapor condensation is one of the most basic processes available for vapor recovery, although it requires high maintenance and high nitrogen costs. For this reason, major industry players are rapidly turning to adsorption and absorption techniques, to avoid high investment costs and provide a vapor recovery rate. Furthermore, the membrane separation technique is another innovative technology with high efficiency and high vapor recovery rate compared to other technologies.

Restraints:

Limitations in the industry for vapor recovery units are the high production and installation costs in the downstream sector due to the volatility of the oil and gas industry. Improper handling and mounting of vapor recovery units can lead to environmental and safety concerns.

Opportunities:

Crude oil storage tanks contain light hydrocarbons such as methane, natural gas liquids, and dangerous air pollutants, as well as some inert gases. During storage, these gases vaporize and accumulate in the storage space. When the liquid level in the tank fluctuates, the vapors are vented to the atmosphere. Vapor recovery units are employed to collect these hydrocarbons, which can then be sold and employed as fuel in on-site operations. All of this leads to significant cost savings. Vapor recovery units also help reduce methane emissions. These factors are predicted to drive the development of the North American vapor recovery services industry. The worldwide vapor recovery unit industry is predicted to experience high expansion during the foreseen period due to the escalating call for vapor recovery units in oil and gas management to relieve vapor pressure in oil management and gas tanks and prevent emissions.

Challenges:

High installation and maintenance costs are a limiting factor for the expansion of the global vapor recovery unit market.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2019 – 2025

Base Year

2019

Forecast Period

2020 - 2025

CAGR

5.9%

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Cool Sorption A/S., Kilburn Engineering Ltd., FLOGISTIX LP, HY-BON/EDI, Kappa Gi s.r.l., Wintek Corporation, BORSIG GmbH, Zeeco, Inc., VOCZero Ltd., Cimarron Energy, ABB, Eaton, Accel Compression Inc., Whirlwind Methane Recovery Systems, LLC, Petrogas Systems, PSG, S&S Technical, Inc., AQT S.R.L, OTA Compression, Unimac Flotech Performance Systems, Warner Nicholson Engineering Consultants, Power Service, Prematecnica, S.A

Recovery Units Market

Vapor Recovery Units Market Segmentation:

By type:

  • Conventional Vapor Recovery Unit
  • Ejector Vapor Recovery Unit

Conventional vapor recovery units run on electricity.

By process:

  • Adsorption
  • Absorption
  • Condensation
  • Membrane Separation

Adsorption is a surface phenomenon procedure that creates an absorbent film on the absorbent surface for the vapor recovery unit.

Vapor Recovery Units Regional Analysis:
The Vapor Recovery Units Report includes the segmentation of Regions with their respective Countries.

  • North America Vapor Recovery Units Industry includes U.S, Canada.
  • Europe Vapor Recovery Units Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.
  • Asia Pacific Vapor Recovery Units Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.
  • Latin America Vapor Recovery Units Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.
  • Middle East & Africa Vapor Recovery Units Industry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.

Geographically, the industry for vapor recovery units in North America is expanding due to rapid industrialization and the discovery of new shale oil and gas deposits. In Europe, countries like the UK, France and Germany are using larger-scale steam recovery units for industrial purposes. In the Middle East, countries like Saudi Arabia and Qatar make extensive use of vapor recovery units, as these countries mainly produce oil and gas. In Asia-Pacific, countries like Australia have made the use of these units mandatory to reduce environmental risks. Countries like India, China and Japan have a high call for vapor recovery units to reduce environmental pollution. African and Latin American countries are promising industries for vapor recovery units. Due to the worldwide oil crisis of recent years, major players in the North American region have been forced to focus on strengthening their storage and distribution capacities to minimize losses. Storage tanks play a critical role in meeting unique consumer call and in holding inventory for future calls. The imposition of strict emission standards by government and environmental agencies in North America prompts crude oil producers to minimize environmental impact by integrating sustainable technologies such as vapor recovery units.

Competitive Landscape:

The initial investment for the installation of a vapor recovery unit is approximately US $ 500,000 per unit. Cost may vary based on customer specifications. Therefore, modified vapor recovery units can differ significantly from the standard unit. Vapor recovery units employed in ocean loading applications are more expensive than those employed in truck loading applications. Therefore, high capital investment is predicted to hamper industry expansion. The worldwide vapor recovery unit industry is predicted to experience high expansion during the foreseen period due to the escalating call for vapor recovery units in oil and gas management to relieve vapor pressure in oil management and gas tanks and prevent emissions.Key Players:

The other players in the market are Cool Sorption A/S., Kilburn Engineering Ltd., FLOGISTIX LP, HY-BON/EDI, Kappa Gi s.r.l., Wintek Corporation, BORSIG GmbH, Zeeco, Inc., VOCZero Ltd., Cimarron Energy, ABB, Eaton, Accel Compression Inc., Whirlwind Methane Recovery Systems, LLC, Petrogas Systems, PSG, S&S Technical, Inc., AQT S.R.L, OTA Compression, Unimac Flotech Performance Systems, Warner Nicholson Engineering Consultants, Power Service, Prematecnica, S.A.,  and many more.

 

1. Introduction                             

              1.1 Market Definition                  

              1.2 Scope of the report               

              1.3 Study Assumptions               

              1.4 Base Currency, Base Year and Forecast Periods                        

2. Research Methodology                                       

              2.1 Analysis Design                      

              2.2 Research Phases                    

                             2.2.1 Secondary Research          

                             2.2.2 Primary Research 

                             2.2.3 Data Modelling     

                             2.2.4 Expert Validation 

              2.3 Study Timeline                       

3. Report Overview                                    

              3.1 Executive Summary               

              3.2 Key Inferencees                     

4. Market Dynamics                                   

              4.1 Impact Analysis                      

                             4.1.1 Drivers     

                             4.1.2 Restaints 

                             4.1.3 Opportunities       

              4.2 Regulatory Environment                     

              4.3 Technology Timeline & Recent Trends                         

5. Competitor Benchmarking Analysis                                

              5.1 Key Player Benchmarking                   

                             5.1.1 Market share analysis       

                             5.1.2 Products/Service  

                             5.1.3 Regional Presence

              5.2 Mergers & Acquistion Landscape                    

              5.3 Joint Ventures & Collaborations                     

6. Market Segmentation                                          

              6.1 Vapor Recovery Units Market, By Type                        

                             6.1.1 Conventional Vapor Recovery Unit

                             6.1.2 Ejector Vapor Recovery Unit           

                             6.1.3 Market Size Estimations & Forecasts (2019-2024)  

                             6.1.4 Y-o-Y Growth Rate Analysis            

                             6.1.5 Market Attractiveness Index          

              6.2 Vapor Recovery Units Market, By Process                   

                             6.2.1 Adsorption            

                             6.2.2 Absorption            

                             6.2.3 Condensation       

                             6.2.4 Membrane Separation      

                             6.2.5 Market Size Estimations & Forecasts (2019-2024)  

                             6.2.6 Y-o-Y Growth Rate Analysis            

                             6.2.7 Market Attractiveness Index          

7. Geographical Landscape                                     

              7.1 Global Identity Governance and Administration Market, by Region               

              7.2 North America - Market Analysis (2018 - 2024)                         

                             7.2.1 By Country            

                                           7.2.1.1 USA

                                           7.2.1.2 Canada

                             7.2.2 By Type    

                             7.2.3 By Process             

              7.3 Europe                      

                             7.3.1 By Country            

                                           7.3.1.1 UK

                                           7.3.1.2 France

                                           7.3.1.3 Germany

                                           7.3.1.4 Spain

                                           7.3.1.5 Italy

                                           7.3.1.6 Rest of Europe

                             7.3.2 By Type    

                             7.3.3 By Process             

              7.4 Asia Pacific                

                             7.4.1 By Country            

                                           7.4.1.1 China

                                           7.4.1.2 India

                                           7.4.1.3 Japan

                                           7.4.1.4 South Korea

                                           7.4.1.5 South East Asia

                                           7.4.1.6 Australia & NZ

                                           7.4.1.7 Rest of Asia-Pacific

                             7.4.2 By Type    

                             7.4.3 By Process             

              7.5 Latin America                         

                             7.5.1 By Country            

                                           7.5.1.1 Brazil

                                           7.5.1.2 Argentina

                                           7.5.1.3 Mexico

                                           7.5.1.4 Rest of Latin America

                             7.5.2 By Type    

                             7.5.3 By Process             

              7.6 Middle East and Africa                        

                             7.6.1 By Country            

                                           7.6.1.1 Middle East

                                           7.6.1.2 Africa

                             7.6.2 By Type    

                             7.6.3 By Process             

8. Key Player Analysis                                

              8.1 Cool Sorption A/S                  

                             8.1.1 Business Description         

                             8.1.2 Products/Service  

                             8.1.3 Financials

                            8.1.4 SWOT Analysis     

                             8.1.5 Recent Developments       

                             8.1.6 Analyst Overview 

              8.2 Kilburn Engineering Ltd                       

              8.3 Kappa Gi s.r.l.                         

              8.4 Wintek Corporation              

              8.5 Zeeco, Inc                 

              8.6 Cimarron Energy                    

              8.7 ABB Ltd                      

              8.8 Eaton Corporation                

              8.9 Petrogas Systems                  

              8.10 Accel Compression Inc                      

9. Market Outlook & Investment Opportunities                              

Appendix                                       

              List of Tables                   

              List of Figures   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Vapor Recovery Units Market By Region, From 2020-2025 ( USD Billion )
  2. Global Vapor Recovery Units Market By Type, From 2020-2025 ( USD Billion )
  3. Global Conventional Vapor Recovery Unit Market By Region, From 2020-2025 ( USD Billion )
  4. Global Ejector Vapor Recovery Unit Market By Region, From 2020-2025 ( USD Billion )
  5. Global Vapor Recovery Units Market By Process, From 2020-2025 ( USD Billion )
  6. Global Adsorption Market By Region, From 2020-2025 ( USD Billion )
  7. Global Absorption Market By Region, From 2020-2025 ( USD Billion )
  8. Global Condensation Market By Region, From 2020-2025 ( USD Billion )
  9. Global Membrane Separation Market By Region, From 2020-2025 ( USD Billion )

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