Press release
Global Fuel Management System Market Grow at a CAGR of 6.8% by 2027|E-Drive Technology, Emerson, ESI Total Fuel Management
Research Nester
Fuel management system is used to monitor or control the loading, storing and dispensing of fuel in the vehicles or machines. Fuel management system can be used by various fields such as mining construction, military and defense, oil/gas, transporting and logistics and others for managing and controlling the fuel.
Fuel management system is a complete set of controller panel that can be used to check loading, storing and dispense of fuel with the help of hardware and software.
Fuel management system can be used to control the flow of pressure and helps to vary the temperature of liquid fluid according to the temperature that is favorable to the weathering conditions.
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Market size and forecast
The global fuel management system market is expected to reach around USD 783 million from USD 516 million and grow at a CAGR of 6.8% till the expected forecast period i.e. 2018-2027.
In terms of regional platform, North America is anticipated to acquire largest market share in the forecasted period i.e. 20178-2027 with a significant growth rate, owing increase consumption of oil and gas.
Countries such as Australia, China and India is expected to showcase the modest growth in fuel management system market on the heels of increased consumption of energy by mining and construction industries.
Europe is also slated for accounting positive growth of fuel management system market in forecast period backed by increasing awareness amongst the transportation and logistics department.
Growth drivers
Tracing authority of vehicle to the fleet owners is driving the growth of market. Additionally, reducing the error of filling diesel into petrol and petrol into diesel tank is also driving the growth of market in future.
Increase consumption of oil and gas by various sectors such as military and defence, mining, transporting and logistics department is driving the growth of fuel management system market.
Increase in population of world at a rapid pace and migration of people from rural areas to urban areas demands for more infra and transport facilities which forced the transports and mining operators to manage the fuel consumption.
Fuel management system is expected to significantly support the growth of market backed by high implications of taxes on oil and gas across the Asia Pacific region.
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Challenges
One of the challenging factors for fuel management system market is oil and gas producing countries that have oil and gas in big proportion readily available at cheaper rate.
The report titled "Global fuel management system market: Global Demand Analysis & Opportunity Outlook 2025" delivers detailed overview of the global fuel management systems market in terms of market by region, by distribution channel, by price type, by switches, by key type, by connectivity.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model. This report also provides the existing competitive scenario of some of the key players of the global offshore rig market which includes company profiling of Banlaw, Dover, E-Drive Technology, Emerson, ESI Total Fuel Management, Fleetmatics Group PLC, Fluid Management Technology Pty Ltd, Franklin Fueling Systems, Guduza System Technologies and Hid Global. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of global fuel management system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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About Research Nester
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
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