Executive Summary

The global vapor recovery units market is expected to grow significantly in the coming years, driven by factors such as increasing demand for vapor recovery systems in the oil and gas industry, government regulations for emission control, and rising awareness about the benefits of vapor recovery systems. The market is highly competitive, with several players operating in the market, providing a range of products and services. To succeed in the market, companies need to focus on providing high-quality products and services, as well as maintaining good customer relationships.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

The global vapor recovery units market is expected to grow at a CAGR of around 5% during the forecast period (2021-2026). The market is driven by several factors, such as increasing demand for vapor recovery systems in the oil and gas industry, government regulations for emission control, and rising awareness about the benefits of vapor recovery systems.

The market is highly competitive, with several players operating in the market, providing a range of products and services. The key players in the market include AEREON, John Zink Hamworthy Combustion, HY-BON/EDI, PSG Dover, Zeeco, and Cimarron Energy, among others.

The market can be segmented by type, application, and region. By type, the market can be segmented into adsorption systems, condensation systems, and membrane separation systems, among others. By application, the market can be segmented into oil and gas processing plants, oil and gas storage tanks, and loading terminals, among others.

Market Drivers

Increasing Demand for Vapor Recovery Systems in the Oil and Gas Industry

The demand for vapor recovery systems in the oil and gas industry is increasing due to the rising demand for crude oil and natural gas worldwide. As the production of crude oil and natural gas increases, so does the release of vapor emissions. The installation of vapor recovery units helps to prevent the release of harmful greenhouse gases into the environment and to comply with government regulations for emission control.

Government Regulations for Emission Control

Government regulations for emission control are driving the demand for vapor recovery units. Governments around the world are implementing regulations to control emissions from various industries, including the oil and gas industry. The installation of vapor recovery units helps companies to comply with these regulations and to reduce their carbon footprint.

Rising Awareness About the Benefits of Vapor Recovery Systems

The increasing awareness about the benefits of vapor recovery systems is driving the demand for these systems. Companies are becoming more aware of the environmental and economic benefits of vapor recovery units, such as reducing greenhouse gas emissions, increasing operational efficiency, and reducing operating costs.

Market Restraints

High Initial Investment Cost

The high initial investment cost of vapor recovery units is a major restraint for the market. The cost of installation and maintenance of these systems is high, which makes it difficult for small and medium-sized companies to invest in these systems.

Lack of Skilled Workforce

The lack of skilled workforce is another major restraint for the market. The installation and maintenance of vapor recovery units require specialized skills and expertise, which are not easily available in some regions. This makes it difficult for companies to install and maintain these systems, which affects the growth of the market.

Market Opportunities

Increasing Demand for Natural Gas

The increasing demand for natural gas is a major opportunity for the vapor recovery units market. Natural gas is a cleaner and more efficient fuel than other fossil fuels, such as coal and oil. The increasing demand for natural gas is expected to increase the demand for vapor recovery units, as companies need to comply with government regulations for emission control.

Technological Advancements

Technological advancements are creating new opportunities for the vapor recovery units market. Advancements in technologies, such as adsorption and membrane separation, are improving the efficiency and performance of vapor recovery units, which is expected to increase the demand for these systems.

Market Dynamics

The global vapor recovery units market is highly competitive, with several players operating in the market. The key players in the market are focused on providing high-quality products and services, as well as maintaining good customer relationships. The market is driven by several factors, such as increasing demand for vapor recovery systems in the oil and gas industry, government regulations for emission control, and rising awareness about the benefits of vapor recovery systems.

The market can be segmented by type, application, and region. By type, the market can be segmented into adsorption systems, condensation systems, and membrane separation systems, among others. By application, the market can be segmented into oil and gas processing plants, oil and gas storage tanks, and loading terminals, among others.

Regional Analysis

The global vapor recovery units market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the market, followed by Europe and Asia Pacific. The growth of the market in North America is driven by factors such as the increasing demand for natural gas, government regulations for emission control, and the presence of key players in the region.

Competitive Landscape

Leading Companies in the Vapor Recovery Units Market:

1. Zeeco, Inc.
2. AEREON
3. John Zink Hamworthy Combustion (Koch Engineered Solutions)
4. Cimarron Energy Inc.
5. Wintek Corporation
6. Petrogas Systems
7. HY-BON/EDI
8. PSG Dover (Blackmer)
9. Kilburn Engineering Limited
10. Cool Sorption A/S

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The vapor recovery units market can be segmented by type, application, and region. By type, the market can be segmented into adsorption systems, condensation systems, and membrane separation systems, among others. By application, the market can be segmented into oil and gas processing plants, oil and gas storage tanks, and loading terminals, among others.

Category-wise Insights

Adsorption systems are expected to dominate the market, as they are widely used in the oil and gas industry to recover and recycle vapors. These systems are highly efficient and can recover up to 99% of the vapor emissions. The demand for adsorption systems is expected to increase due to their high efficiency and cost-effectiveness.

Condensation systems are also widely used in the vapor recovery units market. These systems are used to recover vapors by condensing them into a liquid form. The demand for condensation systems is expected to increase due to their high efficiency and low operating costs. Membrane separation systems are a relatively new technology in the vapor recovery units market. These systems use a membrane to separate the vapor emissions from the air, which is then recycled. The demand for membrane separation systems is expected to increase due to their high efficiency and low operating costs.

Key Benefits for Industry Participants and Stakeholders

The installation of vapor recovery units provides several benefits for industry participants and stakeholders, such as:

• Compliance with government regulations for emission control
• Reduction in greenhouse gas emissions
• Increase in operational efficiency
• Reduction in operating costs
• Improvement in air quality

SWOT Analysis

Strengths:

• Increasing demand for vapor recovery systems in the oil and gas industry
• Government regulations for emission control
• Rising awareness about the benefits of vapor recovery systems
• Technological advancements in vapor recovery units

Weaknesses:

• High initial investment cost
• Lack of skilled workforce

Opportunities:

• Increasing demand for natural gas
• Technological advancements in vapor recovery units

Threats:

• Intense competition among key players
• Fluctuating prices of crude oil and natural gas

Market Key Trends

The key trends in the vapor recovery units market include:

• Increasing demand for adsorption systems
• Adoption of membrane separation systems
• Rising demand for natural gas
• Growing focus on sustainability and emission control
• Increasing investment in research and development activities

Covid-19 Impact

The Covid-19 pandemic had a significant impact on the vapor recovery units market. The pandemic led to a decline in the demand for crude oil and natural gas, which affected the growth of the market. However, with the easing of restrictions and the reopening of economies, the demand for crude oil and natural gas is expected to increase, which is expected to drive the growth of the vapor recovery units market.

Key Industry Developments

Some of the key developments in the vapor recovery units market include:

• AEREON announced the acquisition of Flotech Performance Systems Ltd, a leading provider of vapor recovery and emissions control technologies in 2020.
• PSG Dover announced the acquisition of Flotech Performance Systems Ltd in 2019.
• John Zink Hamworthy Combustion launched its JZ-VRS vapor recovery system in 2019.

Analyst Suggestions

The key players in the vapor recovery units market should focus on providing high-quality products and services, as well as maintaining good customer relationships. They should also invest in research and development activities to improve the efficiency and performance of vapor recovery units. Companies should also focus on expanding their presence in emerging markets, such as Asia Pacific and Latin America, to increase their market share.

Future Outlook

The global vapor recovery units market is expected to grow significantly in the coming years, driven by factors such as increasing demand for vapor recovery systems in the oil and gas industry, government regulations for emission control, and rising awareness about the benefits of vapor recovery systems. The market is highly competitive, with several players operating in the market, providing a range of products and services. The key players in the market are focused on providing high-quality products and services, as well as maintaining good customer relationships. Technological advancements in vapor recovery units and increasing demand for natural gas are expected to create new opportunities for the market in the coming years.

Conclusion

The global vapor recovery units market is expected to witness significant growth in the coming years, driven by various factors, such as increasing demand for vapor recovery systems in the oil and gas industry, government regulations for emission control, and rising awareness about the benefits of vapor recovery systems. The market is highly competitive, with several players operating in the market, providing a range of products and services. The market can be segmented by type, application, and region, and the key players in the market are focused on providing high-quality products and services, as well as maintaining good customer relationships.

The installation of vapor recovery units provides several benefits for industry participants and stakeholders, such as compliance with government regulations for emission control, reduction in greenhouse gas emissions, increase in operational efficiency, reduction in operating costs, and improvement in air quality. Despite the high initial investment cost and the lack of skilled workforce, the increasing demand for natural gas and technological advancements in vapor recovery units are expected to create new opportunities for the market in the coming years.