Vapor Recovery Units Market Size, Share, Growth, Trends, and Global Industry Analysis: By Technology (Membrane Separation, Adsorption, Condensation, Absorption), By Application (Processing, Storage and Transportation, Railcar Loading, Others), By End-use Industry (Oil & Gas, Chemicals and Petrochemicals, Landfills, Brewery and Food Processing, Others), By Process (Upstream, Downstream) and Region

Vapor Recovery Units Market was valued at US$ 923.7 million in 2023 and is poised to grow at a CAGR of 4.2% over 2024-2030. A Vapor Recovery Unit (VRU) is a tool used in a variety of industrial processes to collect gases, such as volatile organic compounds (VOCs), and vapors that would otherwise be released into the atmosphere. A Vapor Recovery Unit works on the fundamental premise of collecting vapors from storage tanks or loading/unloading activities, treating them to remove any impurities, and then releasing the cleaned vapors into the atmosphere. The increased awareness of the environmental and health impacts of air pollution among people, along with the formation of various public health organizations and communities to encourage industries to adopt technologies like VRUs to minimize emissions of VOCs and other pollutants drives the market. Furthermore, the lucrative economic incentives such as tax breaks, grants, or emission reduction credits to companies that implement emission control technologies like VRUs by various governments also propel market. Moreover, the option to customize VRU designs and solutions to tailor the industry's emission control owing to variations in processes, gases emitted, and regulations have provided significant growth opportunities for companies specializing in emission control technologies. The integration of digital technologies, such as the Internet of Things (IoT) and advanced sensors, for real-time monitoring, remote control, and data analytics has become more prevalent in the VRUs market. But the significant upfront investment in terms of equipment, installation, and integration along with operational complexity may hinder the market growth. However, the increased demand for recovery of the oil and gas and manufacturing sector, the stringency of regulation, increased awareness, and infrastructure development are anticipated to increase the market growth during the anticipated years.

Vapor Recovery Units Market Key Developments:

• In November 2021, InventHelp Inventor developed a Vapor Recovery System for Wet Cooling Towers (HUN-1025). It helps to increase the percentage of process water that could be recovered from a cooling tower.
• In November 2019, Rompetrol Rafinare, a member company of the KMG International Group launched a new fully automated vapor recovery unit at the auto and rail loading points in the Vega refinery.