Fuel Management System Market Overview 2018 | Industry Updates, Major Key Players, Size, Share, Trends, Strategy and Future Prospects by Forecast to 2023

Fuel Management System Global Market – Overview
The global fuel management system market is expected to witness a gradual development during the forecast period. The growing demand for energy across the globe is highly driven due to the increasing global population. 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. As per the study conducted by Market Research Future, the global market for fuel management system is likely to grow at the CAGR of around 4%.

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.

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).

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Fuel Management System Global Market - Competitive Analysis
The global market for Fuel Management System is currently in a development stage. To maintain the market position and to drive the market growth, all the major player are highly involved in acquiring new project development across the world, so as to showcase their product diversity and market dominance. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, product development, innovation, increasing investments in research and development and cost-effective product portfolio.

Industry News
In September, 2017 – Wayne Fueling Systems (“WFS”), part of Dover Fueling Solutions (“DFS”), and a global provider of fuel dispensing, payment, automation, and control technologies for retail and commercial fuel stations, announced that there are now more than 40,000 Wayne Fusion site automation server units installed at customer retail locations globally.

In December, 2016 – Fleet administrators are increasingly relying on advanced fuel
management software and technology to measure inventory, manage expenses and monitor usage more carefully. In this Public Works magazine article, OPW showcased how card lock systems enable fleet managers to account for every drop of fuel, from the time it’s loaded into the storage tank to the time it’s pumped into an authorized vehicle.

Market Research Analysis
Total fuel management segment by application in global fuel management system is expected to grow at the fastest rate
The fuel management system market is segmented on the basis of type by, Card-Based, On-Site and Total Fuel Management. The onsite fuel management systems track down the fuel when it is dispensed into the vehicles and, thus, allows the monitoring of the fuel storage levels. The card based fuel management systems monitor the fuel transaction based on the driver’s unique pin and fueling credit card. The total fuel management systems use the combination of the card-based systems and the onsite fuel management systems to monitor and optimize the overall fuel consumption. The total fuel management system is expected to hold a larger share in the market during the forecast period, due to its wide acceptance around all fueling systems and less complex operation with optimum output.

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