The vapor recovery units market is growing rapidly as environmental regulations around the world are becoming more stringent. Vapor recovery units are designed to capture and process the vapors produced during the transfer of oil and gas products, which would otherwise be released into the atmosphere. This not only reduces the emissions of volatile organic compounds (VOCs) but also provides an opportunity for the recovery of valuable hydrocarbons.

The market for vapor recovery units is driven by several factors. One of the primary drivers is the growing concern over air pollution and its impact on public health. In addition, the need for energy conservation and the recovery of valuable hydrocarbons is also contributing to the growth of this market. Overall, the vapor recovery units market is likely to rebound at a modest CAGR of 2.5% till 2027.

Another factor driving the market is the increasing adoption of vapor recovery units by various industries. These units are widely used in the oil and gas industry, as well as in the chemical, pharmaceutical, and food and beverage industries. They are also used in storage tanks and railcars to recover the vapors that are produced during transportation.

The demand for vapor recovery units is also being driven by government regulations that mandate the use of these units in certain industries. For example, in the United States, the Environmental Protection Agency (EPA) requires the use of vapor recovery units in gasoline dispensing facilities and storage tanks.

The market for vapor recovery units is segmented based on application, end-use industry, and region. Based on application, the market is segmented into storage tanks, loading terminals, and truck loading. Based on end-use industry, the market is segmented into oil and gas, chemical, pharmaceutical, food and beverage, and others. Geographically, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America.

The Asia Pacific region is expected to witness the fastest growth during the forecast period, owing to the increasing industrialization in countries such as China, India, and Japan. The Middle East and Africa region is also expected to witness significant growth, owing to the increasing demand for vapor recovery units in the oil and gas industry. In terms of regions, Asia-Pacific is expected to remain the largest and the fastest-growing market for vapor recovery units during the forecast period owing to the rising oil & gas demand. Asia-Pacific is one of the world's fastest-growing regions due to rapid urbanisation, industrialization, and population growth. Europe is also expected to witness significant growth, as the region has implemented strict regulations for the reduction of VOC emissions.

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The following are the key players in the vapor recovery units market:

• Kilburn Engineering Ltd.

• Kappa GI

• Flogistix LP

• VOCZero Ltd.

• Aereon Inc.

• ALMA CARBOVAC

• BORSIG Membrane Technology GmbH

• Cool Sorption A/S

• Hy-Bon Engineering Company, Inc.

• John Zink Company, LLC

In conclusion, the vapor recovery units market is growing rapidly, owing to the increasing demand for these units in various industries and the implementation of stringent environmental regulations. The market is expected to witness significant growth in the coming years, with North America and Europe expected to dominate the market. The market is highly competitive, with several players operating in the market.

Competitive Landscape of the Vapor Recovery Units Market: 2022-27