Dublin, Oct. 31, 2023 (GLOBE NEWSWIRE) -- The "Fuel Management Systems Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The global Fuel Management Systems market is expected to witness steady growth in the forecast period from 2024 to 2028. Several industries, including defense, mining, and construction, have a high demand for fuel management technologies.
Fuel Management Systems: Meeting Industry Needs
Fuel management systems are crucial for industries that rely on transportation, including rail, road, water, and air, for their operations. These systems help maintain, control, and monitor fuel consumption and stock, playing a vital role in industries' efficient functioning.
Key Market Drivers:
- Access Control and Real-Time Tracking: The adoption of fuel management devices is being driven by the growing need for access control in gasoline dispensing applications and real-time fleet vehicle tracking. These factors are expected to accelerate market expansion during the forecast period.
- Preventing Fuel Theft: Fuel theft is a growing concern due to the high price of oil and the ease with which refined fuel can be sold or used for personal gain. Fuel management systems are instrumental in preventing fuel theft, which can account for significant losses in industries that rely heavily on fleets.
- Acceptance of Cutting-Edge Products and Solutions: Recent years have witnessed the introduction of unique and cutting-edge products and solutions for fuel management systems. These innovations are designed to simplify fuel management and enhance efficiency. For instance, mobile applications like "Plus View" enable users to access inventory, compliance, and alarm data, facilitating better management.
Key Market Challenges:
- Technical Complexity: Developing effective fuel management systems requires a deep understanding of genetics, molecular biology, and complex cellular processes. Achieving precise and controlled gene delivery poses technical challenges, which can impact the success of such systems.
- High Development Costs: The development of fuel management systems involves significant research, clinical trial expenses, regulatory compliance costs, and the need to build skilled teams. Additionally, cutting-edge technologies and specialized laboratory equipment contribute to high development expenses.
Key Market Trends:
- Growing Trend of Fuel Cards: Fuel cards, which help reduce fuel costs by a few percentage points, are becoming increasingly popular in the automotive and transportation industries. They are expected to boost market expansion, particularly in regions like Europe, where full-service leasing and related fleet management are on the rise.
- Growing Usage of Fuel Management in Car Batteries: Fuel management systems find applications in car batteries, particularly in the fundamental fuel supply systems for petrol engines. The integration of fuel management into car batteries is expected to further drive market growth.
Market Players
Major market players in the global fuel management systems market are Dover Fueling Solutions, Triscan Group Limited, Piusi S.p.A., Franklin Fueling Systems, HID Global, Guduza System Technologies, Banlaw, ESI Total Fuel Management, Sokolis Group and Orpak Systems Ltd.
Report Scope:
In this report, the global fuel management systems market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Fuel Management Systems Market, By Type:
- Card-Based
- On-Site
- Total Fuel Management
Fuel Management Systems Market, By Application:
- Fuel Consumption
- Efficiency Level
- Fleet Management
- Viscosity Control
Fuel Management Systems Market, By End User:
- Road Transportation
- Railway Transportation
- Aircraft
- Marine
Fuel Management Systems Market, By Process:
- Measuring
- Monitoring
- Reporting
- Others
Fuel Management Systems Market, By Offering:
- Hardware
- Software
- Services
Fuel Management Systems Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Europe
- Germany
- United Kingdom
- France
- Russia
- Spain
- South America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- South Africa
- Egypt
- UAE
- Israel
For more information about this report visit https://www.researchandmarkets.com/r/usvdb
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