VAPOR RECOVERY UNITS MARKET ANALYSIS

Regional Analysis

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North America remains the dominant regional market for vapor recovery units. The region is expected to account for 40.1% of the market share in 2024. With the U.S. being the single largest consumer market for gasoline and natural gas, vapor emission control regulations have been stringent for many years. Many of the major manufacturers have prominent operations positioned to best serve the North American customer base. With a well-established oil and gas sector throughout the region, there is widespread application of vapor recovery units across the supply chain from production and transportation to retail fueling stations.

Asia Pacific has emerged as the fastest growing regional market for vapor recovery units in recent years. Rapid industrialization and economic growth across developing nations like China and India have led to a surge in the energy demand. As these countries look to expand their oil and gas infrastructure to meet rising consumption, government mandates on environmental protection are being enforced. This includes requirements for vapor control at industrial loading and offloading points as well as gasoline dispensing facilities. Given the size of Asia Pacific’s economies and projections for continued gains in energy usage, vapor recovery solutions are finding expanding opportunities.