Hardware Segment to Register Highest Growth in United States Fuel Management System Market During Forecast Period
Growing demand for fuel
management systems from transportation and logistics industry to drive growth
of United States fuel management system market through forecast period
According to
TechSci Research report, “United States Fuel Management System Market By Type, By Offering, By
Application, By End User Industry, Forecast & Opportunities, 2024”, the United States fuel
management system market is expected to grow at a CAGR of around 5% during the
forecast period on account of recovering oil prices and rising exploration and oil
production activities. However, high initial investment and complexity involved
with the installation of fuel management can hamper the market during forecast
period.
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The United States fuel management
system market is segmented based on type, offering, application, end user
industry, company and region. Based on offering, the market can eb categorized
into hardware, software and services. The hardware segment is expected to
witness the highest growth during forecast period owing to its low cost. Based
on end user industry, the market can be fragmented into oil & gas,
transportation & logistics, military & defense, mining &
construction and others. The transportation & logistics segment is expected
to hold significant market share attributable to the substantial increase in
the overall global energy consumption and volatility in global fuel prices.
Dover Corporation, Franklin
Fueling Systems, Gilbarco Inc, OPW Fuel Management Systems, Wayne Fueling
Systems LLC, Sokolis Group, SmartFlow Technologies Inc, Emerson Process
Management LLLP, Piusi USA Inc., SCI Distribution, LLC. and others are some of the
leading players operating in United States fuel management system market. The companies
operating in the market are using organic strategies such as product launches,
mergers and collaborations to boost their share.
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“United States fuel
management system market is expected to witness significant growth during the
forecast period, owing to the presence of leading oil and tech giants in the
region. Additionally, factors like growth in transport infrastructure and
increase in fuel consumption in the countries like US and Canada where major transporting
of goods and equipment are dependent on fuel efficient transport systems in order to reduce the transportation
charges are expected to propel the market in the region,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“United States Fuel Management System Market By
Type, By Offering, By Application, By End User Industry, Forecast &
Opportunities, 2024” has evaluated
the future growth potential of United States fuel management system market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in United States fuel management system market.
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