Strict VOC emission rules and regulation is uplifting the growth of the global vapor recovery units market
Strict regulation regarding the VOC emission for reducing harmful effects of VOC is propelling the growth of the global vapor recovery units market. These policies are basically implemented for crude oil production companies and the petroleum industry to install vapor recovery units in each plant. For instance, in May 2016 U.S. Environmental Protection Agency (EPA) introduced a set of standards to reduce VOC, methane, and toxic air emissions in the oil and natural gas industry. According to the new standards, methane emissions in the oil & gas industry in the country need to be reduced by 40-45% by 2025 as compared to levels in 2012. Environmental and economic advantages offered by vapor recovery units are also expected to foster the growth of the vapor recovery units market. Vapor Recovery Units are used worldwide to remove VOCs from a variety of industrial, commercial, and household emissions. The vapor recovery industry is currently a small but rapidly growing market, pr...