The vapor recovery units market is projected to grow from USD 787.5 Million in 2017 to USD 1,007.2 Million by 2022, at a CAGR of 5% from 2017 to 2022. Rising demand for vapor recovery units owing to stringent regulations with respect to VOC emissions across the end-use industries is expected to drive the vapor recovery units market.
The vapor recovery units market has been segmented on the basis of application, end-use industry, and region. On the basis of application, the transportation segment is estimated to lead the vapor recovery units market in 2017, due to rising demand for vapor recovery units from the truck, railcars, and pipelines. Increasing demand for oil & gas products from developing countries such as China and India has also contributed to the growth of the transportation segment in the vapor recovery units market.
Based on end-use industry, the oil & gas segment is estimated to lead the vapor recovery units market in 2017, due to the increasing demand for vapor recovery units from downstream process. Rising demand for emission control systems due to stringent regulations over VOC emissions across the value chain of oil & gas industry is expected to fuel the growth of the oil & gas segment.
The European region is estimated to lead the vapor recovery units market in 2017. Rising demand from countries such as the UK, Germany, Italy, and Turkey, due to the growing concern over the release of hazardous gases in the atmosphere, particularly from oil & gas, chemicals & petrochemicals, and landfill industries has fueled the demand for vapor recovery units in the region. Asia Pacific is expected to witness the highest growth in the vapor recovery units market during the forecast period. The growth can be attributed to increasing demand for vapor recovery units from the region's oil & gas industry, particularly in China and India.
Key Topics Covered
1 Introduction 1.1 Objectives of the Study 1.2 Market Definition 1.3 Market Scope 1.3.1 Years Considered for the Study 1.4 Currency 1.5 Stakeholders 1.6 Limitations
2 Research Methodology 2.1 Research Data 2.1.1 Secondary Data 188.8.131.52 Key Data From Secondary Sources 2.1.2 Primary Data 184.108.40.206 Key Data From Primary Sources 220.127.116.11 Key Industry Insights 18.104.22.168 Breakdown of Primary Interviews 2.2 Market Size Estimation 2.2.1 Top-Down Approach 2.2.2 Bottom-Up Approach 2.3 Data Triangulation 2.4 Assumptions
3 Executive Summary
4 Premium Insights 4.1 Attractive Growth Opportunities in the Vapor Recovery Units Market 4.2 Vapor Recovery Units Market, By Region 4.3 Vapor Recovery Units Market, By Application and End-Use Industry 4.4 Vapor Recovery Units Market, By Country 4.5 Vapor Recovery Units Market, By End-Use Industry and Region
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 22.214.171.124 Stringent Environmental Regulations for VOC Emissions Will Drive the Demand for Vapor Recovery Units 5.2.2 Restraints 126.96.36.199 High Cost of Installation and Maintenance of Vapor Recovery Units 5.2.3 Opportunities 188.8.131.52 Oil Storage Opportunities in the Middle East & Africa Due to Rising Energy Demand 5.2.4 Challenges 184.108.40.206 Improper Handling and Assembly of Vapor Recovery Units Can Lead to Safety and Environmental Issues 5.3 Value Chain Analysis 5.4 Revenue Pocket Matrix 5.5 Porter's Five Forces Analysis 5.5.1 Bargaining Power of Buyers 5.5.2 Bargaining Power of Suppliers 5.5.3 Threat of New Entrants 5.5.4 Threat of Substitutes 5.5.5 Intensity of Competitive Rivalry 5.6 Macroeconomic Indicators 5.6.1 Oil & Gas 5.7 Environmental Regulations
6 Vapor Recovery Units Market, By Application 6.1 Introduction 6.2 Processing 6.3 Storage 6.4 Transportation
7 Vapor Recovery Units Market, By End-Use Industry 7.1 Introduction 7.2 Oil & Gas 7.2.1 Crude Oil 7.2.2 Liquefied Natural Gas (LNG) 7.2.3 Vapor Recovery Units Market for Oil & Gas, By Process 220.127.116.11 Upstream 18.104.22.168 Downstream 7.3 Others 7.3.1 Landfill 7.3.2 Chemicals & Petrochemicals 7.3.3 Pharmaceuticals
8 Regional Analysis 8.1 Introduction 8.2 North America 8.2.1 US 8.2.2 Canada 8.2.3 Mexico 8.3 Europe 8.3.1 UK 8.3.2 Germany 8.3.3 Italy 8.3.4 Turkey 8.3.5 Poland 8.3.6 France 8.3.7 Norway 8.3.8 Spain 8.3.9 Netherlands 8.3.10 Rest of Europe 8.4 Asia Pacific 8.4.1 China 8.4.2 India 8.4.3 Japan 8.4.4 Indonesia 8.4.5 Australia 8.4.6 Thailand 8.4.7 Rest of Asia Pacific 8.5 Middle East & Africa 8.5.1 Iran 8.5.2 Saudi Arabia 8.5.3 South Africa 8.5.4 Nigeria 8.5.5 Iraq 8.5.6 Egypt 8.5.7 UAE 8.5.8 Rest of Middle East & Africa 8.6 Latin America 8.6.1 Brazil 8.6.2 Argentina 8.6.3 Venezuela 8.6.4 Colombia 8.6.5 Rest of Latin America