Vapour Recovery Units Market is Expected to Reach a CAGR of 3.2% During 2016-2026

Veröffentlicht von: Future Market Insights
Veröffentlicht am: 20.07.2017 12:36
Rubrik: Handel & Wirtschaft

(Presseportal openBroadcast) - Vapour recovery unit (VRU) is used to recover vapour such as gasoline, natural gas and other fuels so that they can be reused in end-use industries. These units find application in upstream and downstream processes in chemical process industry.

Global vapour recovery units is estimated to account for US$ 471 Mn by the end of 2016 and is projected to witness significant growth during the forecast period 2016-2026 owing to stringent regulatory compliances and mandatory installation of VRU at upstream process in most countries.

Drivers and Trends

Stringent environmental legislations on VOC emissions are playing a key role in the adoption of vapour recovery units in end-use industries. Use of solvents across various industries and processes leads to VOC emission into the atmosphere.

In order to reduce harmful effects of VOC emissions, environmental legislations are implemented in various countries pertaining to emission standards. These regulations have compelled key players in crude oil production and petroleum industry to install vapour recovery units at each plant. A common standard adopted by designers and operators is 10g/Nm3. Environmental regulations pertaining to reduction in hydrocarbon emissions into the atmosphere in order to improve air quality and operational safety is expected to remain the major driver for growth of the vapour recovery unit market.

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To compete in rapidly changing market conditions, key players in vapour recovery unit manufacturing are opting for strategic mergers and acquisitions in order to expand their manufacturing as well as sales capabilities in international markets. Recent mergers and acquisitions are helping manufacturers to combine research and development capabilities to explore new opportunities in diverse markets.

Analysis by Process Type

On the basis of process type, global VRU is segmented into upstream and downstream process. Upstream process is expected to dominate the overall VRU market throughout the forecast. VRU is gaining prominence from upstream and midstream segment owing to low cost of installation and high return on investment. The global vapour recovery market is highly fragmented and it is anticipated that many more players will enter the market during the forecast period. HY-BON/EDI and PSG Dover are some of the key players engaged in supplying compressors based VRU at upstream process.

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VRU at downstream is mainly carried out for petroleum based products. Few players are engaged in supplying VRU for crude oil purposes, with the downstream process mainly driven by truck loading applications. Demand for VRU at downstream is highly volatile owing to market maturity and high cost of installation that many small terminals are not able to afford. Presence of many small-scale oil terminals in China and MEA is expected to boost overall demand for VRU in near future. John Zink, AEREON and Zeeco are some of the key players engaged in supplying VRU at downstream process. Companies need to capitalise on their resources to tap the growing market for VRU especially in MEA and Asia Pacific excluding Japan.

Key market participants covered in the report include HY-BON/EDI, PSG Dover, AEREON, Petrogas Systems, John Zink Company, LLC, Cimarron Energy Inc.,Wintek Corporation, Accel Compression Inc., Whirlwind Methane Recovery Systems, LLC

Vapour Recovery Units Market Press Release:

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