Global fuel management systems market will grow on account of rise in the overall energy consumption along with rapid developments in the transport infrastructure. The growing demand for these systems from the transport and logistics industry coupled with increasing usage in mining construction & defense industry will complement the business outlook. Rising demand for access control in fuel dispensing applications coupled with demand for real time tracking of fleet vehicles will drive the product adoption.
Increase in fuel prices, greater inventory storage accompanied by reduction in wastage of oil & gas and growing number of fueling stations are some of the prime factors enhancing the industry landscape. Numerous benefits involved with usage of the fuel management systems including fuel accounting leading to reduced thefts, greater productivity, improved efficiency for operations and the ability to automate tasks to reduce error further strengthen the product deployment.
Numerous innovations and ongoing research & development activities pertaining to automation in current technology will complement the product demand. For instance, the release of electro-hydraulic pump systems, THE PLUS VIEW app that connects to company’s automatic tank gauges and EconFuel that handles remote & harsh mining environments contribute majorly toward the fuel management systems market share.
Increasing fuel consumption owing to rise in the transport of goods & equipment, growing need to curb down the inflation rates and stringent regulations for environment protection is positively influencing the North America fuel management systems market size. Enhanced fleet management services coupled with cross fleet standardization for bigger units carrying commodity, oil & gas products and cargo will further augment the product installation.
Asia Pacific fuel management systems market is anticipated to grow on account of rising industrialization & urbanization and increased investments in fuel consumption meters & navigation automation. In addition, substantial growth in demand for fuel monitoring and controlling systems to restrict unauthorized access to fuel coupled with high implications of oil taxes is set to drive the China fuel management systems market size.
Higher initial investments involved in the procurement of the equipment along with complexity involved in the installation may slow down the product demand. However, growing focus toward the technologically advanced products and innovative solutions is anticipated to foster the fuel management systems market growth.
Eminent participants in Global fuel management systems market includes Roadtrack, Dover, Triscan Group, Franklin Fueling Systems, HID Global, Omnitracs, PIUSI, Asset Works, Gilbarco Veeder-Root, Fluid Management Technology, Banlaw, OPW Fuel Management Systems, Multiforce Systems and Emerson among others.