Fuel Management Systems Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Potential, End Use, Region, Competitive Market Share & Forecast, 2023 – 2032

Fuel Management Systems Market size is set to record phenomenal gains through 2032 on account of rise in the overall energy consumption along with robust developments in the transport infrastructure. Reports suggest that effective fuel management devices and systems can save up to 10% of fuel costs incurred by various logistics companies.
 

The growing demand for these systems from the mining, construction, and defense industries 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 rising 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.
 

Based on type, the fuel management systems market from card-based segment is expected to record significant growth during the forecast timeframe. A fuel card can help manage fuel costs effectively by offering insights into fuel consumption and reducing the admin load. They are also integrated with fuel management software to deliver fuel information automatically for a fleet manager to gain access to information in real-time.
 

North America fuel management systems market size is predicted to amass lucrative growth through 2032. The growth would come from an 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. 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 in the continent.
 

Asia Pacific fuel management systems market is anticipated to grow due to the 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 along with high implications of oil taxes is set to boost industry growth in China.
 

Eminent participants operating in global fuel management systems market includes Roadtrack, Dover, Triscan Group, Franklin Fueling Systems, HID Global (Assa Abloy), Omnitracs (Solera Holdings), PIUSI, Asset Works (Volaris Group Inc), Gilbarco Veeder-Root ( Vontier, Fortive, Danaher Corporation), Fluid Management Technology, Banlaw, OPW Fuel Management Systems, Multiforce Systems, and Emerson among others.
 

These market vendors are leaving no stone unturned to secure a prominent position in the marketplace. For instance, in 2022, Dover Fueling Solutions announced partnership with Bottomline to deliver a fuel management system. The alliance would offer customers with one aggregated fuel management solution that can save retailers up to 5% to 10% costs through automated operations.
 

Inflation impact on fuel management systems market outlook

Unlike other industries that have been severely impacted by inflation, the fuel management systems industry is slated to draw positive returns over the ensuing years. Overwhelming demand for fuel and hike in fuel prices have prompted fleet owners to consider deploying fuel management systems to keep track of the fuel consumption. This is likely to escalate the sales for these products, adding to the market prospects.
 

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