Hydrocarbon Tester Market

Hydrocarbon Tester Market Snapshot (2022 to 2032)

The global hydrocarbon tester market stood at around USD 110 Million in 2021 and is slated to increase at a Y-o-Y growth rate of 4% to reach USD 130 Million by 2022-end. Furthermore, from 2022 to 2032, the market is poised to expand at a CAGR of 6.3% to reach a valuation of USD 240 Million.

Growing emphasis on the enforcement of occupational safety and health regulations regarding hydrocarbons by several regulatory organizations such as the Environmental Protection Agency is creating growth prospects for the global market for hydrocarbon testers.

Report Attribute	Details
Estimated Base Year Value (2021)	USD 125 Million
Expected Market Value (2022)	USD 130 Million
Anticipated Forecast Value (2032)	USD 240 Million
Projected Growth Rate (2022 to 2032)	6.3% CAGR

Although not all hydrocarbons are hazardous wastes, they are known to be common site contaminants. Total hydrocarbon analyzers are instruments used for sampling and analyzing the hydrocarbon family. These tools are available in both benchtop and portable configurations.

Hydrocarbon Testers are being used in a variety of applications for hydrocarbon analysis, including volatile organic compound monitoring, emission monitoring, solvent recovery, carbon absorbers, gas leak detection, and coating process control monitoring. This is expected to help the global market demand for total hydrocarbon analyzers.

A hydrocarbon tester is a device that analyses the concentration of hydrocarbon compounds to determine and improve the product quality of crude oil, diesel, fuel oil, jet fuel, gas oil, and petroleum products. The demand for hydrocarbon testers is increasing due to the high amount of hydrocarbon impurities associated with the production of petroleum, diesel, crude oil, and other products.

Toxins in these products can cause significant damage to machines or instruments, resulting in high demand for hydrocarbon testers to analyze the hydrocarbon. Because of the widespread use of petroleum, diesel, crude oil, and other products, the demand for hydrocarbon testers is rapidly increasing, contributing to the growth of the hydrocarbon tester market. Hydrocarbon testing and analysis aid oil and gas companies in identifying and analyzing hydrocarbon compound concentrations.

Hydrocarbon testers are also rapidly being adopted in metallurgy and geothermal exploration, which is fueling the global growth of the hydrocarbon tester market.

Which are Some Prominent Drivers Spearheading Hydrocarbon Tester Market Growth?

Hydrocarbon processing, one of the world's most important industries, must adhere to a plethora of regulations, standards, and norms in order to run smoothly. Because the sector is required to maintain the highest safety standards, effective hydrocarbon analysis is critical for hydrocarbon processing in order to achieve a high level of productivity. The hydrocarbon testing market is extremely regulated, and certain standards must be followed when analyzing the sample.

The American Society of Testing and Materials (ASTM) is an international standard-setting organization that creates standards for a wide variety of materials and products. These standards are critical for various end-user companies such as petroleum refineries, aviation companies, and automotive, geological, and chemical processing plants that examine and process fuel oils to ensure quality.

For instance, ASTM D7675 specifies a standard test method for determining total hydrocarbons in hydrogen using a hydrocarbon tester. These rigorous requirements in various geographies are ultimately propelling the hydrocarbon tester market forward. There is a high demand for simple hydrocarbon testers, which is causing manufacturers to release portable and simple hydrocarbon testers. The manufacturers' main strategy is to introduce advanced hydrocarbon testers with enhanced features.

Their primary focus is on introducing hydrocarbon testers with high sensitivity. For example, PetroSense Inc., one of the leading manufacturers of hydrocarbon testers, has introduced a portable hydrocarbon tester that has high sensitivity and analyses accurate and fast quantitative data for petroleum hydrocarbons in vapor and water. This type of advancement by manufacturers contributes to the global expansion of the hydrocarbon tester market.

What are the Challenges Faced by the Hydrocarbon Tester Industry?

The growing popularity of electric vehicles is causing a decline in sales of diesel and gasoline-powered vehicles. This has a significant negative impact on the hydrocarbon tester market, as the use of petrol and diesel engines is being replaced by electric batteries. During the forecast period, the growing prevalence of electric vehicles is expected to be a potential challenge for hydrocarbon testers.

Why is Asia-Pacific emerging as an Opportunistic Hydrocarbon Tester Market?

Asia Pacific was the largest market for Hydrocarbon Tester. Geographically, countries with substantial inventions in the field of fossil fuels and geo analysis, such as Kuwait, China, and other Gulf countries, hold the major market share in the hydrocarbon tester market. The expansion of the hydrocarbon tester market is being driven by the increased production of energy sources and the demand for refined products. As these countries' fossil fuel production increases, so do the sales for refinement of these products.

To ensure safe and optimized processing, a wide range of hydrocarbon analysis measurements and analyzing devices such as flame ionization detectors, catalytic sensors, photo-ionization, gas chromatographs, infrared sensors, and others are required. As a result, rapid growth in the hydrocarbon processing industry in prominent economies such as China and India is expected to create lucrative growth opportunities for the hydrocarbon tester market. As a result, potential growth opportunities in the adoption of hydrocarbon testers in various industries are expected. The hydrocarbon tester market is expected to grow at a rapid pace as a result of several government initiatives in the Asia Pacific.

How is North America Contributing to Growth of the Hydrocarbon Tester Market?

According to Future Market Insights, North America is expected to grow at a rapid CAGR in the global hydrocarbon tester market between 2022 and 2032.

Owing to the attributes such as integrated systems, flexible temperature ranges, and precision analysis, hydrocarbon testers are finding a wide range of applications in environmental monitoring, ethylene production, petroleum refining, and other sectors.

Market Competition

Some of the key participants present in the global Hydrocarbon Tester market include Emerson, Thermo Fisher Scientific, Teledyne Analytical Instruments, SICK AG, Agilent Technologies, Inc., MKS Instruments, PerkinElmer, J.U.M. Engineering GmbH, Galvanic, VIG Industries, Inc., Gow-Mac Instrument Co., Shimadzu Corporation, MOCON Inc., Buck Scientific., among others.

The market is highly concentrated owing to the existence of such a large number of participants and the escalating product launches with advanced connectivity and multi-functional features.

• In May 2022, Thermo Fisher Scientific, a global leader in serving science, and Qatar Genome Program (QGP), a member of Qatar Foundation (QF), collaborated to accelerate genomic research and clinical applications of predictive genomics in Qatar as a step toward broadening the gains of precision medicine across Arab populations globally.
• In June 2022, Agilent has Introduced New Oligonucleotide Analysis Software for Biopharma Research.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 6.3% from 2022 to 2032
Market Value in 2022	USD 130 Million
Market Value in 2032	USD 240 Million
Base Year for Estimation	2021
Historical Data	2017 to 2021
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Million and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Sample, End Use, Modularity, Region
Regions Covered	North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East and Africa
Key Countries Profiled	USA, Canada, Mexico, Brazil, Germany, Italy, France, United Kingdom, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia & New Zealand, GCC Countries, Turkey, South Africa
Key Companies Profiled	Emerson; Thermo Fisher Scientific; Teledyne Analytical Instruments; SICK AG; Agilent Technologies, Inc.; MKS Instruments; PerkinElmer; J.U.M. Engineering GmbH; Galvanic; VIG Industries, Inc.; Gow-Mac Instrument Co.; Shimadzu Corporation; MOCON Inc.; Buck Scientific
Customization	Available Upon Request

Key Segments Profiled in the Hydrocarbon Tester Industry Survey

By Sample:

• Natural Gas (Methane)
• LPG Testing and Inspection (LPG)
• Gasoline (Naphtha, Octane)
• Jet Fuel (kerosene)
• Diesel
• Fuel Oil
• Bitumen (Asphalt)
• Crude Oil (Petroleum)
• Other Samples

By End Use:

• Chemical Industry
• Petroleum Refineries
• Oil & Gas Industry
• Coal industries
• Metallurgy
• Geology

By Modularity:

• Portable
• Benchtop

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia and the Pacific
• Middle East & Africa

Frequently Asked Questions

What is the anticipated growth of the hydrocarbon tester market until 2032?

FMI projects the global Hydrocarbon Tester market to expand at a 6.3% value CAGR by 2032

Which region is forecast to be the most lucrative for hydrocarbon tester market growth?

Asia Pacific is expected to be the most opportunistic Hydrocarbon Tester market, expanding at a 6% CAGR

Which are some prominent hydrocarbon tester manufacturers?

Emerson, Thermo Fisher Scientific, SICK AG, Agilent Technologies, Inc., MKS Instruments, PerkinElmer, and Teledyne Analytical Instruments are some prominent Hydrocarbon Tester manufacturers.