The fuel management system is a combination of hardware and software products

Posted by Manik on March 3rd, 2020

Fuel Management System Market: Summary

The Global Fuel Management System Market is estimated to reach USD 856.4 Million by 2027 at a CAGR of 6.4%, observes forencis research (FSR).

A fuel management system is mainly used to monitor, control, and maintaining the fuel consumption in various end-use industries such as transportation, logistics, construction, mining, oil & gas, and aerospace & defense. The fuel management system is a combination of hardware and software products that enables security controls of fuel stores while detecting the consumption and delivery of fuel. The fuel management system is mainly utilized in tank leak detection, tank inventory level information, sensor configuration, and sump leak detection.

Fuel Management System Market: Drivers & Restraints

Market Drivers:

Increasing Fuel Prices

Oil prices are continuously climbing higher and higher due to natural disasters, supply and demand impact, and various production impacts. The Organization of Petroleum Exporting Countries (OPEC), is the main influencer of fluctuations in fuel prices. However, managers of the industries use the fuel management system to control, monitor and maintaining the fuel consumption to reduce fuel costs and increase the efficiency of the system. Hence, increasing fuel prices are expected to drive the market during the forecast period.

Market Restraints:

Growing Electric Vehicles Market

Hydrogen fuel cell vehicle and battery-powered electric vehicles offer a cleaner alternative to internal combustion engines and both use electric motors. conventional vehicles burn fuel in an internal combustion engine where battery-powered electric vehicles use stored energy in batteries to power one or more electric motors. According to IEA, Around 45% of electric cars on the road in 2018. Hence, the market for the conventional market is expected to decrease during the forecast period which directly impacts on fuel management system market. With this, the growing electric vehicles market is expected to restrain the market during the forecast period.

Fuel Management System Market: Key Segments

•          On the basis of type: Card-Based and On-Site
•          On the basis of component: Hardware (Fuel Pump, Fuel Filter, Fuel Pressure Regulator, Fuel Injector, Sensors, and Others), Software, and Services
•          On the basis of end use industry: Transportation & Logistics, Aerospace & Defense, Construction & Mining, Oil & Gas, and Others
•          Based on region: North America, South America, Europe, Asia-Pacific, and Middle East & Africa with individual country-level analysis

Key Companies Covered

•          Triscan Group Limited(Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
•          Banlaw
•          Emerson Electric Co
•          Atlas Oil
•          Gilbarco Veeder-Root
•          Piusi S.p.A
•          HID Global Corporation/ASSA ABLOY AB
•          Franklin Fueling Systems
•          sokolisgroup.com
•          Dover
•          Other Key Companies

Fuel Management System Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

FUEL MANAGEMENT SYSTEM Market, by Type

•          Card-Based
•          On-Site

FUEL MANAGEMENT SYSTEM Market, by Component

Hardware

•          Fuel Pump
•          Fuel Filter
•          Fuel Pressure Regulator
•          Fuel Injector
•          Sensors
•          Others

Software

•          Services

FUEL MANAGEMENT SYSTEM Market, by End User Industry

•          Transportation & Logistics
•          Aerospace & Defense
•          Construction & Mining
•          Oil & Gas
•          Others

FUEL MANAGEMENT SYSTEM Market, by Region

Asia-Pacific

•          China
•          India
•          Japan
•          South Korea
•          Australia
•          Rest of Asia-Pacific

North America

•          US
•          Canada
•          Mexico

Europe

•          Germany
•          France
•          Italy
•          UK
•          The Netherlands
•          Rest of Europe

Middle East and Africa

•          Saudi Arabia
•          UAE
•          Rest of Middle East & Africa

South America

•          Brazil
•          Argentina
•          Rest of South America

 About Forencis Research

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