Global Biofuel testing Market To Record Excellent Growth To Reach US$ 3,900.8 Million By 2030

May 2023 | Report Format: Electronic (PDF)

Biofuels are advancing as a result of worries about the greenhouse gas emissions from fossil fuels and rising oil prices. The use of biofuels could replace fossil fuels and help with a number of environmental problems. Utilizing biofuels in motors and engines can reduce hazardous emissions. Due to the advantages that biofuels provide and the growing demand for them, the market for testing services for biofuels is expanding. Since some governments have made major efforts to reduce emissions and achieve "carbon neutrality," biofuels have become increasingly popular in recent years. On the other hand, the performance and market acceptance of biofuel depends on its quality, needing a high level of quality control.

Since the standardization of biofuels ultimately intends to reduce dependence on petroleum products, companies that provide testing services for biofuels are concentrating on stringent compliance with international quality standards. These are the main advantages of biofuel testing services that propel market expansion globally over the course of the forecast timeframe. Testing services for biofuel require a lot of labour. Due to their lower energy density and higher cost of raw materials, biofuels are more expensive to use in the production of heat. These are the main elements limiting the expansion of the global market throughout the forecasted timeframe.

It is anticipated that North America will account for the biggest market shares. The large output of biofuels in the US is one of the key drivers boosting the market for testing services for biofuels. This is the primary driver of market expansion globally during the anticipated timeframe. During the projected period, Europe is anticipated to have the second-largest market share. Europe holds a sizable portion of the market for biofuel testing services after North America because of the high level of biofuel production in the area. The market for biofuel testing services in Europe is anticipated to grow as a result.

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Biofuel Testing Market Report Highlights

• Rolls-Royce agreed to test Greencrude sustainable aviation fuel from Alder Fuels starting in October 2022. (SAF). With the help of already-existing bio and petroleum refinery infrastructure, Greencrude may be transformed into a drop-in fuel by employing sustainable biomass, such as regenerative grasses, forest residues, and agricultural waste products. Compared to straight jets, it results in a more than 80% reduction in greenhouse gas emissions.
• As part of their efforts to advance sustainability in the railway industry, transportation solutions supplier Wabtec and freight transportation company BNSF Railway performed a biofuel pilot in March 2022

BIOFUEL TESTING MARKET SEGMENTATION

The research report published by Market Research Strategy contains industry segments, as below-

Biofuel Testing Type Outlook (Revenue, USD Million, 2017 - 2030)

• Ethanol
• Biodiesel
• Biogas
• Green Diesel
• Others

Biofuel Testing Application Outlook (Revenue, USD Million, 2017 - 2030)

• Automotive
• Biofuel Companies
• Mining
• Refineries
• Others

Biofuel Testing Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America (U.S., and Canada)
• Europe (Germany, U.K., France, Italy, Spain etc.)
• Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
• South America (Brazil, Mexico, Argentina etc.)
• Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)

List of Key Players- Biofuel Testing Market

• Intertek Group plc
• BUREAU VERITAS
• Eurofins Scientific
• SGS SA
• AmSpec, LLC
• ALS Limited
• Biofuel Systems Group Limited
• Core Laboratories
• Beta Analytic
• SOCOTEC Group
• AKSHAR ANALYTICAL LABORATORY & RESEARCH CENTRE
• Chem-Tech Laboratories Private Limited
• FOI Laboratories
• Peak Petroleum Testing Services, Inc.
• Fare Labs Private Limited

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