Press release
Global Fuel Management System Market Competitive Dynamics & Regional Outlook 2023 By Triscan Group, Franklin Fueling Systems, Timeplan Fuel Solutions, Banlaw, Wayne Fueling Systems LLC.
Fuel Management System Market
The management of fuel consumption is acquiring increased prominence as companies and organizations are becoming increasingly responsible with fuel resources. 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 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.
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Industry Highlights
Fuel Management System are primarily used to control, monitor and maintain the fuel consumption and store in large number of industries which utilizes transport, including air, rail, road and water, as a means of commerce trade. Fuel management systems are basically designed to manage the proper utilization of fuel and are also used to effectively measure the fuel consumption in the construction and transport industries. Fuel management systems compromises the most comprehensive solution in the global market for knowing exactly how much fuel is stored, consumed and real-time tracking of the fleet vehicle. Fuel management system provides from complete fuel accountability to total reconciliation and protection against fuel theft.
Competitive Analysis
The framework for growth plans also has stimulated the market for potential new entrants. The leadership trends in the market are reinforcing the level of growth that can be achieved in the current market scenario. The market contenders are making considerable adjustments to minimize the incidence of competitive disadvantage. The alterations seen in terms of strategy execution and creation are modifying the development pace of the market. The evolution patterns are revised in tandem to the customer likings to realize the greatest growth, and in the long run, viability.
Key Players
The key players of global fuel management system market are 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).
Industry Segmentation
The market segmentation of fuel management system is carried out on the basis of type, application, and region.
The segmentation of the fuel management system market on the basis of type, comprises of on-site, card-based, and total fuel management.
On the basis of application, the market is segmented into transport fleet, mobile fueling systems, and others.
The regions covered in this market are North America, Europe, Asia Pacific and rest of the world.
Industry News
Oct 2018 Auramarine, the foremost provider of engine room fuel supply and auxiliary systems for the marine and power industries has declared an agreement with MARCAS International Ltd, part of V. Group and independent Marine Contracting Association. The agreement will see Auramarine bring fuel system services to a MARCAS-served fleet totaling to more than a thousand vessels while helping them navigate some of the most important fuel regulation changes in the industry.
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