Fuel Management System Market To Reach USD 856.4 Million By 2027 | CAGR 6.4% - Forencis Research

Fuel Management System Market Size, Share, Trends, Growth, Analysis, Research

Global Fuel Management System Market: Key Highlights

  • According to the new market research report “Fuel Management System Market by Type (Card-Based and On-Site) by Component (Hardware (Fuel Pump, Fuel Filter, Fuel Pressure Regulator, Fuel Injector, Sensors, Others), Software, Services)by End User Industry (Transportation & Logistics, Aerospace & Defense, Construction & Mining, Oil & Gas, Others) by Region (North America Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2019 to 2027)”, the global Fuel Management System market is estimated to reach USD 856.4 Million by 2027 at a CAGR of 6.4% during forecast period 2019-2027
  • Increasing growth in automobile sector and increasing in fuel prices are expected to drive the market during projected period
  • High initial investment and growing electric vehicle market is expected to restrain the market during the forecast period

Fuel Management System Market

Global Fuel Management System Market: Key Market Dynamics

  • The rapidly growing automotive sector in the Asia Pacific region is expected to become an opportunity for the fuel management system market
  • Operating with existing software and fuel management system is expected to become a challenge for the fuel management system market during next seven years
  • Reduction in chances of fueling errors and increasing number of fuel stations is expected to boost the fuel management system market during projected years.

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Global Fuel Management System Market: Regional Overview

  • North America

North America is expected to dominate the fuel management system market during the forecast period due to increasing fuel consumption in the US and Canada. Moreover, presence of key global platers such as Gilbarco Veeder-Root (US), Dover (US), Franklin Fueling Systems (US), and HID Global (US) is expected to drive the fuel management system market during next seven years.

  • EMEA & Asia-Pacific:

Middle East & Africa is expected to grow at stable rate during projected period due to presence of petroleum exporting countries such as Saudi Arabia, Iran, Iraq, and many others. The fuel management system market in Asia-Pacific is expected to grow at faster rate during the forecast period due to growth in internal combustion vehicles market. Europe is expected to grow at considerable growth rate due to increasing electric vehicles market.

Global Fuel Management System Market: Key Players Overview

  • Triscan Group Limited:

Triscan Group Limited is UK largest supplier and manufacturer of fuel management system, fuel pumps, fuel monitoring software, fuel tanks, pipework, and identification devices. The company provide various fuel management products such as DataTrack and Timeplan and software to provide the information regarding fuel and fleet resources to various end use industry. The company also provides support services for fuel management system to diagnose the issues promptly.

  • Emerson Electric Co.:

Emerson Electric Co. engages in the provision of analytical instrumentation, measurement, industrial equipment & valves, tools & appliance solutions, and process control systems for customers in a range of commercial, industrial, and consumer markets. The company operates through Automation Solutions and Commercial & Residential Solutions business segments. The company provide Micro Motion, a fuel measurement system solution to reduce the operational cost, improved performance, and manage emissions.

 

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Rep Id : SC 036

Published : 2020-02-04