Global Vapour Recovery Units Market was Worth US$ 520.9 Million and had a Volume of 10,210.8 Units

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Vapour Recovery Units
Vapour Recovery Units

Overview of the Market

A vapour recovery unit (VRU) is a device that recovers vapours such as gasoline, natural gas, and other fuels and reuses them for industrial purposes. In the chemical process sector, vapour recovery units are mostly employed in upstream and downstream processes. For vapour recovery, the Vapour Recovery Units Market employs various methods such as condensation, absorption, adsorption, and membrane separation. The vapours are condensed by lowering the temperature in the condensation process. Furthermore, the Environmental Protection Agency (EPA) in the United States requires operators of natural gas processing plants, natural gas wells, and hydrocarbon storage facilities to perform vapour removal processes to reduce dangerous air emissions.

During the forecast period, strict regulatory rules regulating VOC emissions are projected to boost the Global Vapour Recovery Units Market. Various industries are responsible for the release of volatile organic compounds into the environment, which mix with the air. These chemicals are harmful air pollutants that can harm the environment. In order to prevent the detrimental consequences of VOC emissions, government agencies in several nations have enacted severe environmental legislation. These regulations have made it mandatory for crude oil producers and the petroleum industry to install vapour recovery equipment in their facilities. For example, the US Environmental Protection Agency (EPA) issued a series of regulations in May 2016 to limit VOC, methane, and harmful air emissions in the oil and natural gas business.

Over the projected period, the economic and environmental benefits offered by vapour recovery units are expected to move the global Vapour Recovery Units Market forward. Light hydrocarbons such as methane, natural gas liquids, hazardous air pollutants (HAP), and some inert gases are stored in crude oil tanks. These hydrocarbons evaporated during storage and accumulated in storage space. As the liquid level in the tank varies, these vapours are released into the atmosphere. These vaporised hydrocarbons are collected and stored in vapour recovery devices. In onsite operations, these hydrocarbons can be used and sold as fuel. All of this adds up to significant cost savings and a decrease in methane emissions.

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