Global Fuel Quality Testing Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Fuel Quality Testing Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Fuel Quality Testing is to test for fuels quality specifications, following ASTM, ISO, and other industry standards. Fuels analyzed include petroleum refined fuels, biofuels, CNG, LPG, coal, pet-coke, and other fuel sources. Fuel testing laboratories support fuel quality control, research and troubleshooting for refineries, pipelines, storage terminals, aviation, automotive and other industries and operations.

Market Overview:

The latest research study on the global Fuel Quality Testing market finds that the global Fuel Quality Testing market reached a value of USD 359.59 million in 2022. It’s expected that the market will achieve USD 502.06 million by 2028, exhibiting a CAGR of 5.72% during the forecast period.

Influence of COVID-19 Outbreak on Fuel Quality Testing Industry Development

With the occurrence of COVID-19, home isolation, work shutdown, and production shutdown policies have reduced people's fuel demand. At the same time, as the COVID-19 pandemic continues to spread globally, Saudi Arabia, the world's second-largest oil producer after the United States, urges members of the Organization of Petroleum Exporting Countries (OPEC) to have a dispute with Russia. By early April 2020, OPEC had increased its production by 1.7 million barrels per day, reaching the level of 30.4 million barrels per day. The combined effect of declining demand, increasing supply, and decreasing storage space has led to a sharp drop in crude oil prices. For fuel manufacturers, the company is facing a greater crisis, and the cost of additional quality testing may be reduced to ease the company's cash flow. At the same time, downstream customers' demand for fuel will also be suppressed, and Fuel Quality Testing will also be suppressed.
With the popularization of vaccines, the implementation of epidemic prevention and control measures, and the relaxation of the international political situation, the demand for fuel has gradually increased. The start of downstream production enterprises will also promote the demand for fuel. This will in turn promote the increase in the demand for Fuel Quality Testing. At the same time, major countries cancel production cuts and increase oil production, and the Fuel Quality Testing market will also be driven.

Fuel Quality Testing Market Restraints

People's insufficient knowledge of Fuel Quality Testing will limit market development. For example, Ohio in the United States does not have a statewide fuel quality test, and the importance of Fuel Quality Testing has not attracted the attention of more people in some regions. This will bring opportunities to the low-quality fuel market and affect people's self-interest.
The solar energy industry added a record 19.2 gigawatts of new capacity during 2020, a 43% jump from 2019. By 2030, solar installations are expected to quadruple from current levels. The development of the solar energy market will pose challenges to the fuel market, as the popularity of solar energy, even limits the market development of Fuel Quality Testing.

Region Overview:

From 2023-2028, Europe is estimated to witness robust growth prospects.

Company Overview:

Bureau Veritas is one of the major players operating in the Fuel Quality Testing market, holding a share of 18.42% in 2021.

Bureau Veritas SA provides a range of consulting services, including global inspection and audit, tests and certification applied to quality, hygiene and health.

The core services offered by SGS include the inspection and verification of the quantity, weight and quality of traded goods, the testing of product quality and performance against various health, safety and regulatory standards, and to make sure that products, systems or services meet the requirements of standards set by governments, standardization bodies or by SGS customers.

Segmentation Overview:

Among different product types, Petroleum Refined Fuels segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Automotive segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Fuel Quality Testing market covered in Chapter 3:

FOI Labs
WASP PFS
LabCor Materials
Fleet Fuel Testing
TÜV Rheinland
LCM Environmental
Cooke Fuels
TankCare
Cashman Fluids Analysis
ALS
AmSpec Services
Iowa Central Fuel Testing Laboratory
Foster Fuels Mission Critical
MEG Corp
Trico
SGS
Veritas Petroleum Services
Dr. Fuel Clean
Lloyd's Register
D&H United Fueling Solutions
Intertek
Bureau Veritas
Adler and Allan
Peak Petroleum Testing Services
FuelCare
Alcor Petrolab
Crown Oil Environmental

In Chapter 4 and Chapter 14.2, on the basis of types, the Fuel Quality Testing market from 2018 to 2029 is primarily split into:

Petroleum Refined Fuels
Biofuels
CNG
LPG
Coal
Pet-Coke

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Fuel Quality Testing market from 2018 to 2029 covers:

Refineries
Pipelines
Storage Terminals
Aviation
Automotive
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)