The Vapour Recovery Units market is expected to grow from USD 0.9 billion in 2019 to USD 1.30 billion by 2025 at a CAGR of 5.4% from 2019 to 2025.
Vapour Recovery Units fuels are biofuels made of compressed organic matter like forest wood & waste, agriculture residue, energy crops, and different food waste. These have emerged as a substitution for coal and fossil fuel in varied industrial sectors, due to their low price and reduced carbon emission. Within the electricity generation sector, they”re co-fired in coal-based power plants to reduce carbon emission. Moreover, for residential heating, they are widely used in automatic stoves and boilers. Easy availability of Vapour Recovery Units fuel feedstock and low price of production has led to its higher consumption within the industrial sector. The rise in the costs of fossil fuels and natural gas additionally fuels the market growth. The global market is segregated on the basis of End User as Oil & Gas and Others. Based on Application the market is segmented in Processing, Storage, and Transportation.
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Carbovac Sarl, BORSIG Membrane Technology, John Zink Company, SYMEX Technologies, Aereon, HY-BON/EDI, Cool Sorption, VOCZero, Zeeco, Flogistix, and others are among the major players in the market. The companies studied in terms of product strategy and various n several growths and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Vapour Recovery Units market has been segmented as below:
- Oil & Gas
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