Fuel Quality Testing Market Size, Share & Industry Analysis, By Product Type (Coal and Petroleum Coke, LNG, CNG, Biofuel, Others), By Application (Refinery, Automotive, Storage Terminals, Aviation, Others) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI105652 | Status : Ongoing

KEY MARKET INSIGHTS

The fuel quality testing provides insights into the quality of fuel over time, the process measures the water and sediment contents present in the fuel. If the presence is too high, it can have led to the corrosion of the storage system and damage to equipment. The impurities and contaminants can have led to environmental particulate from unstable fuel and water. Fuel testing laboratories support fuel quality specifications, other industry standards for various fuel sources.

Based on the product type, the market is segmented into, coal and petroleum coke (pet coke), CNG, biofuels, LNG, and others. The CNG segment is expected to dominate market growth during the forecast period owing to its increasing applications in automotive and transportation and others. The fuel quality monitors CNG fuel quality and provides the client with data for ensuring the natural gas quality and meet the engine requirements, which results in better efficiency of a vehicle.

Based on the applications, the market is segmented into the refinery, automotive, aviation, storage terminals, and others. The automotive segment is expected to dominate the market owing to the large availability of automotive fuel. The test is an essential procedure for the characterization of automotive fuels, other than that, the test is essential for quality control of product type which results in effective working and a longer run of the application.

Fuel quality testing has a significant demand due to many government bodies are growing their focus in establishing better quality for fuels for environmental concerns and better run of applications, which is expected to be the major driver for the fuel quality testing market. However,

The fuel failure and fuel quality may have an adverse effect as it is hazardous, any failure in the process can lead to major damage and hinders the market growth.

Key Market Driver -

The government regulation for providing the improved quality of fuels drive the market growth.

Key Market Restraint -

Fuel investigate failure may hinder the market growth

Key Players Covered:

Some of the major companies that are present in the global fuel quality testing market are Intertek, Bureau Veritas, Veritas Petroleum Services, FuelCare, SGS, MEG Group, Adler and Allan, FOI Labs, TankCare, ALS, Trico, D&H United Cooke Fuels, and LCM Environmental.

Regional Analysis:

The fuel quality testing market has been studied across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America, the emerging growth and advancement in technologies associated with automotive, marine, electronics, and other applications have anticipated major market growth for the fuel quality testing market across the region. Asia Pacific fuel quality testing market is expected to grow during the forecast owing to leading industrialization and urbanization across prominent countries like India, Japan, China, and others. Other than that, the adaptive use of renewable fuels and alternative fuels is driving the fuel quality testing market. Latin America fuel quality testing market is being driven by the government initiative for cleaner energy and surging investments in alternative fuel sources. The Middle East & Africa fuel quality testing market is being driven by oil condition monitoring testing (OCM) process and maintenance programs for providing early detection and failures associated with machinery and system.

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Segmentation

ATTRIBUTE	DETAILS
By Product Type	Coal and Petroleum Coke LNG CNG Biofuel Others
By Application	Refinery Automotive Storage Terminals Aviation Others
By Geography	North America (the USA and Canada) Europe (UK, Germany, France, Italy, Spain, Russia, and Rest of Europe) Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific) Latin America (Brazil, Mexico, and Rest of Latin America) Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)

Key Industry Developments

In May 2021, Intertek has acquired SAI Global Assurance. The acquisition will lead to Intertek strengthen additional scale, enhanced geographic along with new capabilities which will enhance their global assurance presence.

In April 2020, SGS has introduced a long-term fuel storage monitoring system. This system offers long-term monitoring for jet fuel, gas oil, and others and helps in managing risk, avoid serious detrition and help in preserving product value.

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PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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