Fuel Management System Market Overview:-
After extensive evaluation, Market Research Future (MRFR) reports that the global fuel management system market is projected to expand at a CAGR of more than 4% during the forecast period ().
A fuel management system (FMS) helps tackle challenges posed by fluctuating prices of oil used as fuel along with difficulties that stem from strict regulations for environmental issues by effective fuel management. It does so by monitoring, controlling, and reporting fuel consumption. This unique set of benefits offered by FMS has charged up the demand for fuel management system (FMS).
Global Fuel Management System Market to Not Budge From its Position on Back of Depleting World Oil Reserves
The noteworthy players making a mark in the global fuel management system market are Franklin Fueling Systems (U.S), Timeplan Fuel Solutions (U.K), OPW Fuel Management Systems (U.S), The Triscan Group (U.K), Piusi S.p.a. (Italy), Guduza System Technologies (South Africa), Banlaw (Australia), Wayne Fueling Systems LLC (U.S), Sokolis Group (U.S) and Orpak Systems Ltd. (Israel).
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Fuel Management System Industry News:-
Madras Security Printers (MSP) has developed a GPS based software for Greater Chennai Corporation’s fleet and fuel management. The system will help in monitoring the vehicles for efficient operations by reducing the operation cost and fuel usages. The tool is designed to monitor the vehicle maintenance, driver management, accident management, vehicle asset management, fuel management and vehicle usage.
The global fuel management system market is segmented on the basis of type and application.
Based on type, the market is segmented into card-based, on-site and total fuel management. The onsite fuel management systems track down the fuel when it is dispensed into the vehicles, thereby allowing the monitoring of the fuel storage levels. On the other hand, the card-based fuel management systems monitor the fuel transaction based on the driver’s unique pin and fueling credit card.
Application-wise, the market is segmented into mobile fueling systems, transport fleet, and others.
Fuel Management System Global Market Regional Analysis:-
The global fuel management system market is spread across the regions of North America, Europe, Asia Pacific (APAC) and the Rest of the World.
The North America region is the leading market followed by Europe. The tremendous growth in the transport infrastructure and increase in fuel consumption in the countries like the United States (U.S) and Canada, has resulted in the stupendous performance of the market in the region.
The report conjointly acknowledges that Europe is on its way to high growth levels as most countries in the region are connected extensively with railways and roadways. This subsequently drives the demand for new fuel management systems in the region.
The APAC market is set to soar high in coming years, state MRFR experts. There are two important developments benefitting the market in the region, which are cross fleet standardization for bigger units that carry commodities, cargo, and oil & gas products coupled with fuel theft detection, which is rampant in the region. The APAC market also benefits from rapid industrialization and urbanization resulting in considerable investment in navigation automation, fuel management systems, dynamic positioning of vessels, ballast water management, fuel consumption meters, and density and viscosity meters.
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Major Points From TOC:-
1 Executive Summary
2 Research Methodology
3… Market Dynamics
4 Global Fuel Management System Market, By Type
5 Global Fuel Management System Market, By Application
6 Regional Market Analysis
7 Competitive Analysis
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