Vapor recovery units market demand is mainly depends on the performance oil & gas, and the petrochemical industry. Vapor recovery units are used to avoid the emission of the VOCs and improve the performance of the operations.
New York, May 31, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Vapor Recovery Units Market by Application, End-use Industry And Region - Global Forecast to 2027" - https://www.reportlinker.com/p05381195/?utm_source=GNW
Transportation segment to lead the market during the forecast period
In terms of demand, the transportation segment is estimated to hold majority share of the vapor recovery units market. During transportation of the fuels, petrochemicals products and other products which emits VOCs, the vapor recovery unit is prevalently used to ensure the safety, collect the vapor, and improve the performance, among others. With the growth of the industry and increasing fuels transportation across the globe, the demand for the vapor recovery units is expected to increase significantly
Vapor recovery units market in the oil & gas industry is expected to hold the largest share during the forecast period
Based on demand, oil & gas industry are estimated to account for the largest share during the forecast period.During downstream operation, to improve the operation efficiency, ensure safety and storage of several chemicals, fuel products and other products, vapor recovery units is prevalently used.
The demand is expected to increase owing to rising investment in developing countries for the capacity addition supports for the growth of the market.Also, oil & gas industry is growing significantly, as several refineries worldwide are converting into integrated plants.
This, further, has contributed to the growth of the Vapor recovery units market.
Asia Pacific vapor recovery units market is estimated to register the highest CAGR during the forecast period
APAC is the fastest-growing Vapor recovery units market globally.This is mainly attributed to increasing investment in oil & gas industry, economic growth, and changing regulatory scenario in several countries such as China, India, and other counrteis support for the growth of the market.
Steady growth of petrochemical industry, rising fuel demand, and shifting of manufacturing facilities towards ASEAN and India will drive the market over the forecast period.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, R&D director, and executives from various key organizations operating in the Vapor recovery units market, and information was gathered from secondary research to determine and verify the market size of several segments and subsegments.
• By Company Type: Tier 1 – 19%, Tier 2 – 50%, and Tier 3 – 31%
• By Designation: C Level – 25%, D Level – 31%, and Others – 44%
• By Region: North America – 25%, Europe – 13%, APAC – 31%, Middle East and Africa – 25%, and Latin America – 13%
The key companies profiled in this report are PSG Dover (US), Aareon (US), Cimarron Energy, Inc. (US), John Zink Company (US), Carbovac (France), SYMEX Technologies (US), VOCZero (UK), Flogistix (US), and Kappa Gi (Italy), among others.
This report provides detailed segmentation of the Vapor recovery units market based on application, end-use industry, and region.Application is divided into transportation, storage, and processing.
Based on the end-use industry, the market has been segmented into oil & gas, and other industries. Based on the region, the market has been segmented into North America, Europe, APAC, the Middle East & Africa, and South America.
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