Pune, India, May 24, 2017 /MRFR Press Release/- Market research future published a half cooked research report on global fuel management system market. The Fuel Management System market is expected to grow over the CAGR of more than 4% during the period 2017 to 2023.
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.
Currently, the Fuel Management System market is in the growth stage. This is due to the increase in fuel prices, reduction in the wastage of oil & gas with proper increase in inventory storage, also increasing number of fuel stations and global growth in automobile sector. However, the additional cost and complexity involved with the installation of fuel management systems will hinder the fuel management market growth rate.
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.
Scope of the Report
This study provides an overview of the global fuel management system market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global fuel management system market by its type, by application, by regions.
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).