Fuel Management System Market Share, Size, Leading Players Updates, Industry Demand, Growth, Trend and Research Report
Apr 9, 2018
Global Fuel Management System Market Information Report by Type (Card-Based, On-Site and Total Fuel Management), Application (Mobile Fueling Systems, Transport Fleet and Others) and Regions - Forecast To 2023
pune, India - April 9, 2018 /MarketersMedia/ —
Market Overview:
Fuel management system is used to measure, control, and monitor the flow of fuel within the transportation and construction industry. The fuel is stored in large number of industries which utilize transport, including air, rail, road and water, as a means of commerce trade. It ensures proper utilization of fuel and effectively used to measure consumption of fuel in various industries. Fuel management systems comprises of the most wide-ranging solution in the market globally for knowing exactly the fuel consumption, consumed and real-time tracking of the fleet vehicle.
The factors that are responsible for the growth of the market are increase in fuel prices, reduction in the wastage of oil & gas with proper increase in inventory storage, also increasing number of fuel stations and global growth in automobile sector. The increase in number of fuel station will result in higher utilization of fuel management system to manage and control the fuel consumption. The automotive industry is growing at a rapid pace due to increase in the production of passenger and commercial vehicles. The increase in the production of passenger and commercial vehicles will result in higher consumption of fuel and will increase the demand of fuel management system. The largest and advance manufacturer of
The National Vehicle and Fuel Emissions Laboratory (NVFEL) have set up various regulation for reducing emission. The automotive manufacturers that investing heavily in research and development in order to develop technology which increases the efficiency and reduces emission. The company focusing on investing in the research and development will have a competitive edge over other companies due to the innovation in the product lines. The Federal Agricultural Marketing Authority (FAMA) have set up standard to provide the emission certification for compression-ignition engines for the vehicles. This will increase the manufacturing of engine which meets the desire standard. This will increase the use of fuel management system in the vehicles.
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There are various types of fuel management system such as Card-Based, On-Site and Total Fuel Management. The on-site fuel management system tracks the flow of the fuel in the vehicle and allows the monitoring of the fuel storage level. The total fuel management system is the combination of card-based systems and the onsite fuel management systems in order to monitor and optimize the consumption of fuel.
Industry/ Innovation/ Related News:
The key strategies followed by most companies within the global Fuel Management System market are that of new product development.
In 2016, Franklin Fueling Systems had launched FFS PRO: University that will serve as the industry’s premier training, certification, and resource tool.
In 2015, Wayne Fueling Systems. Had expanded fuel management services by reaching agreement to acquire Simmons Sirvey.
Major Key Players:
OPW Fuel Management Systems (U.S), The Triscan Group (U.K), Piusi S.p.a. (Italy), Franklin Fueling Systems (U.S), Timeplan Fuel Solutions (U.K), Guduza System Technologies (South Africa), Banlaw (Australia), Wayne Fueling Systems LLC (U.S), Sokolis Group (U.S) and Orpak Systems Ltd. (Israel) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global fuel management system market.
Market Segmentation:
The global Fuel Management System market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Type: Comprises Card-Based, On-Site and Total Fuel Management.
Segmentation by Application: Comprises Mobile Fueling Systems, Transport Fleet and Others.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
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Regional Analysis:
The substantial growth in the global energy consumption and volatility of the fuel prices has result in the increase demand for fuel management system. North America is expected to account for the largest market share which is followed by Europe. In North America, U.S. is expected to account for the largest market share due to growth in transport infrastructure and increase in the consumption of fuel. There has been increases in investment by the fuel management system manufacturers in order innovate their product so as to compete in the market. This will increase the production of fuel management system which will led to the growth of the market. Europe is expected to be the second largest market to grow due to increase in the emission regulation and to reduce the loss of fuel. The accurate measurement of fuel will enable to reduce the wastage and increase the efficiency for the industry. In Europe, Germany is expected to be the second largest market. Asia Pacific is expected to be the third largest market that is estimated to grow in near future.
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Source: MarketersMedia
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