Dublin, Dec. 01, 2023 (GLOBE NEWSWIRE) -- The "Fuel Management Systems - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Fuel Management Systems Market to Reach $892.7 Million by 2030
The global market for Fuel Management Systems estimated at US$587.3 Million in the year 2022, is projected to reach a revised size of US$892.7 Million by 2030, growing at a CAGR of 5.4% over the analysis period 2022-2030. Hardware, one of the segments analyzed in the report, is projected to record 4.8% CAGR and reach US$373.3 Million by the end of the analysis period. Growth in the Software segment is estimated at 6.1% CAGR for the next 8-year period. 
The report emphasizes that developed economies currently lead the global FMS market, while it anticipates that future growth will be driven by developing regions. It delves into the hardware components of fuel management systems, highlighting the use of physical ID tokens for vehicle and equipment identification during fueling processes.
Market competition is examined, with data on the global key competitors' percentage market share in 2022 and a comparison with the market share scenario in 2019. Additionally, it provides a snapshot of the competitive market presence in 2022, categorized as strong, active, niche, or trivial for players worldwide.
The report recognizes the impact of the COVID-19 pandemic and the potential global recession on the fuel management systems market, suggesting that these external factors could influence market dynamics and trends in the future.
The U.S. Market is Estimated at $236 Million, While China is Forecast to Grow at 7.6% CAGR
The Fuel Management Systems market in the U.S. is estimated at US$236 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$152.8 Million by the year 2030 trailing a CAGR of 7.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 4.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.
Select Competitors
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 394 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $587.3 Million |
| Forecasted Market Value (USD) by 2030 | $892.7 Million |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Depleting World Oil Reserves & Focus on Environment Protection Step Up the Emphasis on Fuel Management as a Critical Part of Energy Efficiency Management
- Growing Popularity of Energy Audits in the Transportation Industry Magnifies the Importance of Fuel Management: Global Investments in Energy Efficiency (In US$ Billion) for the Years 2016 and 2018 by Industry
- Crude Oil Proved Reserves in Billion Barrels by Geographic Region for the Years 2015 through 2018
- Although Debatable if Carbon Tax is the Silver Bullet for Climate Change, it is Nevertheless a Watershed Event for the Fuel Management Systems Market
- For Companies with Transport Fleets, Now is the Time to Face the Carbon Taxes Reality With Fuel Management Systems: Price of Carbon Emission in US$ per Metric Ton of CO2-Equivalent by Select Countries: 2019
- Projected Increases in Carbon Prices Will Increase the Emission Burden in a Broad Range of Industries: Percentage Share of Carbon Dioxide Emissions Worldwide by Price: 2019
- As Global Emissions Escalate, the Rising Sense of Urgency Will Give Carbon Taxes a Larger Role to Play in Climate Change Goals: Global Fossil Fuel Emissions in Gigatonnes of CO2 Equivalent for the Years 1990, 2010, 2019 and 2022
- Volatility in Fuel Prices Drives Demand for Fuel Management Systems
- Spot Crude Oil Prices ($/barrel) in Select Countries for the Years 2015 through 2018
- Average Annual OPEC Crude Oil Price (in $/barrel) for the Years 2010 through 2019
- Technologically Advanced Solutions Fuel Growth
- Cloud-Based Solutions Gain Demand for Fuel Management of Fleets
- Growth in Transport Infrastructure Auger Well for Market Growth
- Global Infrastructure Spending Estimates (as a Percentage of GDP) by Sector for 2007-2016 and 2017-2040
- Percentage Breakdown Global Greenhouse Gas Emissions from Transportation by Segment: 2018
- Fuel Management Systems Gain Traction as Commercial Fleets Shift Focus on Operational Efficiencies
- Commercial Cars & Trucks in Service in Thousands in the US for the Years 2016, 2017 & 2018
- Rise in Number of Fuel Stations to Boost Demand for Fuel Management Systems
- Growing Use of Biofuel Poses New Challenges
FOCUS ON SELECT PLAYERS(Total 64 Featured)
- Banlaw (Australia)
- Dover Fueling Solutions (USA)
- OPW Fuel Management Systems (USA)
- Wayne Fueling Systems, LLC (USA)
- ESI Total Fuel Management (USA)
- Fluid Management Technology Pty Ltd (Australia)
- Franklin Fueling Systems (USA)
- Gilbarco Veeder-Root (US)
- Orpak Systems Ltd. (Israel)
- Piusi S.p.A. (Italy)
- The Triscan Group (UK)
- Sokolis Group (US)
For more information about this report visit https://www.researchandmarkets.com/r/ioow5a
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