Fuel Management Systems Market to be Dominated by Rise in Unconventional Production Across the Globe Through 2028
The growing
need for access control in gasoline dispensing applications and real-time fleet
vehicle tracking are the factors driving the market in the forecast period.
According to TechSci Research report,
“Fuel Management Systems Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”,
the fuel management systems market is
expected to register a high CAGR and is expected to grow in the forecast period
due to increase in the world's energy use, notably in the transportation
and industrial sectors, and rising demand for efficient fuel management system
which is necessary to keep track of fuel consumption and any potential adverse
environmental effects. Moreover, due to the increased dispensing applications in
developing nations, a smart fuel management system will become more widespread.
Additionally, several opportunities
are expected to arise in the fuel management system market over the next few
years, as a result of rising fuel management system usage across developing
economies and ongoing technological advancements in fuel management system
products. The ability of fuel management systems to reduce fuel loss helps in eliminating
fueling errors, due to which the market is expected to grow, during the
forecast period.
Browse over XX market data Figures
spread through XX Pages and an in-depth TOC on the " Global
Fuel Management Systems Market."
The global Fuel
Management Systems market is divided into type, application, end
user process, offering and region. Based on type, the market is divided into
card-based, on-site, and total fuel management. Based on application, the
market is divided into fuel consumption, efficiency level, fleet management and
viscosity control. Based on end user, the market is divided into road
transportation, railway transportation, aircraft, and marine. Based on process,
the market is divided into measuring, monitoring, reporting and others. Based
on offering, the market is divided into hardware, software, and services. Based
on region, the market is divided into North America, Asia-Pacific, Europe,
South America, and Middle East & Africa.
The growing demand for fuel management systems for use in
mining and construction activities in the Asia-Pacific is one of the key
factors accelerating the growth of the market for this industry, and it is
anticipated that the mining and construction sector will also experience
significant growth during the forecast period.
Offerings that may be investigated in the fuel management
system market over the projected period include services, hardware, and
software. The hardware segment is expected to have the largest market share
during the projected period. This can be attributed to the market's high prices
for hardware parts connected to software and services.
The transportation industry uses
fleet and fuel management systems extensively, particularly to improve fuel
efficiency. The fuel management system gained more traction due to the adoption
of software for truck or vehicle fuel management systems. Additionally, the
market for fuel management software has emphasized automation as a significant
selling point. Moreover, the launch of fifth-generation telematics-based fuel
management systems allow fleet managers to continuously assess fuel consumption
trends and implement focused efficiency improvements, which leads to market
expansion. These all have a beneficial effect on the market expansion for Fuel
Management Systems.
Key market players in the Global Fuel Management Systems Market include:
- Dover Fueling
Solutions
- Triscan Group
Limited
- Piusi S.p.A.
- Franklin Fueling
Systems
- HID Global
- Guduza System
Technologies
- Banlaw
- ESI Total Fuel
Management.
- Sokolis Group and
Orpak Systems Ltd
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“Effective fuel management system
(FMS) helps to handle challenges posed by fluctuating prices of oil. It does so
by monitoring, controlling, and reporting fuel consumption. This exceptional
perceived benefit has driven up the demand for fuel management systems (FMS)
globally. Besides, the emergence of technologically advanced fuel management
system for locomotives is also providing a boost to the market.
The use of the latest technologies
such as the internet-of-things (IoT) and artificial intelligence (AI) in fuel
management systems will help in increasing the demand, eventually boosting the
growth prospects. All these aspects ultimately help in driving the growth rate
of the global fuel management system market.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
Fuel Management Systems Market – Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2028F, Segmented Type
(Card-Based, On-Site and Total Fuel Management), Application (Fuel Consumption,
Efficiency Level, Fleet Management and Viscosity Control), End User (Road
Transportation, Railway Transportation, Aircraft, Marine), Process (Measuring,
Monitoring, Reporting and Others), By Offering (Hardware, Software, and Services)
By Region, Competition has evaluated the future growth potential of Global Fuel Management
Systems market and provides statistics and information on market structure,
size, share, and future 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 the Global Fuel Management
Systems Market.
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