Fuel Management Systems Market

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.

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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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