Fuel Management System Market Overview
Market
reports connected to the energy and power industry have been made available by
Market Research Future which creates reports on other industry verticals that
outlines the current market scenarios. The market is projected to increase at a
4% CAGR in the forecast period. The management of fuel consumption is acquiring
increased prominence as companies and organizations are becoming increasingly
responsible with fuel resources.
The fuel management system market
is at its nascent stage currently and is expected to gain quick mileage in the
foreseeable future owing to increasing fuel prices, depleting resources,
increasing fuel stations, etc. Furthermore, the inclination towards minimum
fuel wastage is likely to influence the expansion of the market positively in
the years to come.
The
need for proper management of fuel and are also used to efficiently measure the
fuel consumption in the transport and construction industries is the key factor
driving the market for fuel management systems. The benefits of complete fuel
accountability and protection against fuel theft are fortifying the overall
market. The upsurge in fuel prices globally is expected to accelerate market
growth in the forecast period.
Industry leaders are focusing
on technological advancements for capitalizing on developmental opportunities.
For instance, the advent of real-time tracking fuel management systems has
gained much popularity in recent times. The market has witnessed the evolution
of these systems and is prognosticated to exhibit innovations and upgradations
to harness growth opportunities. On the flip side, the additional cost incurred
for installation is expected to restrict the proliferation of the fuel
management system market over the next couple of years.
Market Segmentation:
By type, the global fuel management system market has been
segmented into card-based, on-site and total fuel management.
By application, the fuel management
system market has been segmented into mobile fueling systems, transport fleet,
and others.
Regional
Analysis:
By region, the global fuel
management system market has been segmented into North America, Europe, Asia
Pacific, and the Rest of the World (RoW). North America is expected to hold the
leading position in the global marketplace and retain its prominence across the
forecast period. The growth-inducing factors of the regional fuel management
system market include increasing fleet management services, growth of the
transportation sector, etc. The U.S. and Canada are poised to drive the
expansion of the market in the region.
Europe is anticipated to
trail the North America market in terms of market size and revenue generation.
The boom witnessed in the automotive sector of the region has been forecasted
to expedite the proliferation of the fuel management system market over the
assessment period. Furthermore, the need for curbing inflation of fuel prices
is also likely to favor the expansion of the market in the years to come.
Competitive
Dashboard:
Some of the major players of
the fuel management system market profiled in this MRFR report The Triscan
Group (U.K), Piusi S.p.a. (Italy), are OPW Fuel Management Systems (U.S),
Franklin Fueling Systems (U.S), Guduza System Technologies (South Africa),
Timeplan Fuel Solutions (U.K), Banlaw (Australia), Sokolis Group (U.S), Wayne
Fueling Systems LLC (U.S), and Orpak Systems Ltd. (Israel).
Access Summary of this Report at: https://www.marketresearchfuture.com/reports/fuel-management-system-market-4394
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