Vapour Recovery Units Market is expected to increase at a moderate CAGR of 3.2% during 2016-2026
VALLEY COTTAGE, N.Y. – Environment pollution legislation will continue to drive the adoption of vapour recovery units, especially in developing regions. Rising awareness on reducing the impact of pollutants, combined with regulatory pressures on providing workers with safer working environments will continue to influence installation decisions. Potential economic benefits of installing vapour recovery units are expected to drive adoption; however, high initial costs can impede growth. The prevailing oil crisis in the Middle East is expected to have a ripple effect on the global vapour recovery market, with global revenues declining to US$ 471 Mn in 2016, down from US$ 481 Mn in 2015. The long-term outlook on the market remains positive, with the global market expected to increase at a moderate CAGR of 3.2% during the forecast period 2016-2026.
Download the sample copy of Report with table of contents and Figures @ https://www.futuremarketinsights.com/reports/sample/rep-gb-993
North America, the largest market for vapour recovery units, will witness further proliferation of compressor-based VRU; however, the market will continue to have a low presence of players engaged in distribution of VRU at downstream process. John Zink, AEREON and ZEECO are key players in the production and distribution of VRU at downstream process.
VRU installations will continue to increase at a steady rate in Europe. While the current oil crisis will negatively impact the market in Middle East, the market will grow moderately in the long run. Asia Pacific and Latin America will witness moderate growth, and like North America, compressor-based VRUs will witness steady demand.
VRU installations will continue to remain higher in upstream process vis-à-vis downstream process. Increasing preference for VRUs over flare gas recovery technologies will continue to impact VRU installations for upstream processes. The upstream process will continue to account for leading revenue share of the global vapour recovery unit market. By application, storage tank vents will continue to account for leading market share at upstream, whereas marine loading will remain a key application segment at downstream process. By end-use, oil & gas will remain the most attractive sector for VRU manufacturers and distributors, followed by brewery & food processing.
Buy this report @ https://www.futuremarketinsights.com/checkout/993
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.
Our advisory services are aimed at helping you with specific, customized insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with you: https://www.futuremarketinsights.com/askus/rep-gb-993
More from Energy, Mining, Oil, And Gas:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
Mr. Abhishek Budholiya
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
T (UK): + 44-(0)-20-7692-8790
Press Office: Press@futuremarketinsights.com
Blog: Market Research Blog