Bizizz Market Research has recently published a research report, ” Fuel Management Systems Market by Process (Measuring, Monitoring, and Reporting), By Application (Fuel Consumption, Fleet Management, Viscosity Control, Efficiency Level), End User (Rail Transportation, Marine, Aircraft), and Region – Global Industry Demands Estimation & Forecast 2019-2027”.
As per the report, Global Fuel Management Systems Market was valued at USD US$ 7.8 Bn in 2018 and is expected to reach a market value of US $ xx Bn by 2027, witnessing a CAGR of around 4.3 % during the forecast period. Key drivers of the market are globalization in the transportation industry, unification in the quality of fuel, technological advancements in fuel management techniques, cargo movements. Various other factors such as stringent regulations are expected to boost the growth of the market. Various end use industries such as construction, energy plants and transportation are widely adopting fuel management systems.
These systems are also helpful in elimination of misallocation and theft of the fuel and improves fuel expense management. These benefits offered by the systems boost the growth of fuel management systems market. Rapid adoption of cloud based solutions is a common trend being witnessed during forecast period.
Fuel Management Systems Market is Anticipated to register a CAGR of over 4.3 % during the forecast period
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Fuel Management Systems Market is driven by growth in transportation infrastructure
Fuel management market is driven by high demand from various sectors such as aircrafts, railways, waterways and roadways. Fuel Management Systems market is at its nascent stage and is expected to gain traction during forecast period owing to increasing fuel stations and high need for tracking fuel usage. Growth in transportation infrastructure on the global scale is expected to drive the market growth. These systems are highly adopted in industries for maintaining, managing and tracking fuel consumption and storage. In addition to this, increase in number of roadways and railways that require fuel management systems are expected to boost the growth of the market. However, high investments required for adoption of fuel management system is expected to hamper the growth of the market during the forecast period.
Asia Pacific expected to continue its dominance in fuel management systems market
Key factors such as technological advancements, high growth in construction and transportation industries in various regions in Asia Pacific boosting the growth of the market. In various regions in Asia Pacific, End Users are adopting fuel management systems such as card based systems include separate entities such as RFID cards and identification PiN among others. Europe holds 2nd largest market share for fuel management systems. In various regions in Asia Pacific, End Users are adopting fuel management systems such as card based systems include separate entities such as RFID cards and identification PiN among others. These factors are expected to support the rapid pace of fuel management systems market in Asia Pacific.
Major players in the market are Emerson, E-Drive Technology, Dover, Omnitracs, Hid Global, Franklin Fueling Systems, Veeder-Root Company, Triscan Group, TomTom International BV., Guduza System Technologies, and Fluid Management Technology Pty Ltd.
Key players in the market are focusing on technological advancements for capitalizing on various opportunities in the market. For example, players in the market are offering real-time tracking fuel management systems that has gained popularity in recent times. Focus on upgradation and innovations in fuel management systems to offer diverse features is one of the most common strategies adopted by key players in the market.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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