North America will remain dominant in the global vapor recovery services market throughout the forecast period. North America held highest market value share and is expected to grow at a relatively faster rate. U.S. is projected to hold more than two-third of the market share in the global vapor recovery services market. On the other hand, Latin America and the Middle East and Africa will account for a relatively lower market share and are expected to witness steady growth. These are some of the findings presented in a recent publication by Persistence Market Research titled “Vapor Recovery Services Market: Global Industry Analysis and Forecast, 2017–2025.” The analysts have observed that the U.S. is predicted to provide great opportunities in the global vapor recovery services market as compared to other regions of the world. In sync with the same, companies across the globe are highly focused on increasing their business portfolio and effectiveness in order to capitalize on existing opportunities in the country. The expert team of analysts have further observed that market players are focused on creating long-term relationships with direct end users, especially for scheduled annual maintenance contracts to sustain a continuous revenue flow.
After a detailed study of the market, the analysts have found that among application types, the storage tank vents segment is expected to witness high growth over the forecast period. Rising number of crude oil storage tanks is expected to drive the growth of the segment over the forecast period. A study of the differentiating strategies adopted by key market players reveals the following –
Key Report Takeaways
In the case of GDP growth forecast, it has been observed that global economic growth is likely to impact the vapor recovery services market during the forecast period. Key developments in the oil and gas industry are anticipated to have a high impact on the vapor recovery services market. Capital expenditure growth plays a vital role and has a major impact on the vapor recovery services market; consequently, maintenance expenditure in the oil and gas industry is anticipated to affect the vapor recovery services market. Adoption of vapor recovery units is predicted to affect the vapor recovery services market with medium impact.
The analysts have studied various market segments extensively while examining the global vapor recovery services market. Market analysis includes revenue forecast, Basis Point Share analysis, Y-o-Y growth projections, absolute dollar opportunity analysis and market attractiveness analysis. Macro-economic indicators such as GDP and industrial production index have been considered while forecasting market numbers. Weighted Average Selling Price (ASP) has been considered to deduce market values. Top-down approach has been used to assess market numbers for each category, while bottom-up approach has been used to counter validate the market estimations. The analysts have collected insightful information through sources such as World Bank and IMF data, companies’ annual and financial reports and industry association publications.
In-depth secondary research has been used to ascertain overall market size, top industry players and industry associations. In order to conduct expert and industry interviews, Persistence Market Research has formulated a detailed discussion guide based on which the analysts have conducted interviews with industry experts, players, distributors and retailers. The forecast presented in this report assesses the total revenue of the global vapor recovery services market. When developing the market forecast, the starting point involves sizing the current market, which forms the basis for forecasting how the market is anticipated to take shape in the near future. The outcome of the research is triangulated based on various demand and supply side analyses. The report also takes into consideration year-on-year growth to understand the predictability of the market and to identify the right opportunities across the global vapor recovery services market. As previously highlighted, the market for global vapor recovery services is split into various categories. All these segments have been analyzed in terms of basis point share to understand segmental contribution to overall market growth. This detailed level of information is important for identifying various key trends in the global vapor recovery services market.
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