Fuel Management System Market | CAGR of 4% Estimated during 2018-2023 | Key Players Profiles and Application Forecast, Trend

Market Highlights
Currently, the Fuel Management System market is in the growth stage. This is due to the increase in fuel prices, reduction in the wastage of oil & gas with proper increase in inventory storage, also increasing number of fuel stations and global growth in automobile sector. However, the additional cost and complexity involved with the installation of fuel management systems will hinder the fuel management market growth rate. Global Fuel Management System Market is expected to grow with the CAGR of more than 4% from 2017 to 2023
 
Market Research Analysis
Total fuel management segment by application in global fuel management system is expected to grow at the fastest rate
 
The Fuel Management System Market is segmented on the basis of type by, Card-Based, On-Site and Total Fuel Management. The onsite fuel management systems track down the fuel when it is dispensed into the vehicles and, thus, allows the monitoring of the fuel storage levels. The card based fuel management systems monitor the fuel transaction based on the driver’s unique pin and fueling credit card. The total fuel management systems use the combination of the card-based systems and the onsite fuel management systems to monitor and optimize the overall fuel consumption. The total fuel management system is expected to hold a larger share in the market during the forecast period, due to its wide acceptance around all fueling systems and less complex operation with optimum output.
 
Key Players
The key players of global fuel management system market are

• OPW Fuel Management Systems (U.S),
• The Triscan Group (U.K),
• Piusi S.p.a. (Italy),
• Franklin Fueling Systems (U.S),
• Timeplan Fuel Solutions (U.K),
• Guduza System Technologies (South Africa),
• Banlaw (Australia),
• Wayne Fueling Systems LLC (U.S),
• Sokolis Group (U.S)
• Orpak Systems Ltd. (Israel).

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Global Fuel Management System Market
The substantial growth in the overall global energy consumption and volatility in global fuel prices has driven the monitoring and controlling of fuel consumption for cost-effective operation and increase the efficiency of the fuel system. These factors have certainly created a great potential for fuel management system market all around the world. North-America region is the leading market for fuel management systems market and is followed by Europe. The overall growth in transport infrastructure and increase in fuel consumption in the countries such as U.S and Canada, where, major transporting of goods and equipment are depended on transport system with effective and efficient fuel consumption, so as to reduce the transport charge and curb down inflation rates, is driving the market for fuel management systems.

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Scope of the Report
This study provides an overview of the global fuel management system market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global fuel management system market by its type, by application, by regions.
By Type

• Card-Based
• On-Site
• Total Fuel Management

By Application

• Mobile Fueling Systems
• Transport Fleet
• Others

By Regions

• North America 
• Asia Pacific 
• Europe
• Rest of the World  

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North-America region is expected to grow at the fastest rate
North-America region is the leading market for fuel management systems market and is followed by Europe. The overall growth in transport infrastructure and increase in fuel consumption in the countries such as U.S and Canada, where, major transporting of goods and equipment are depended on transport system with effective and efficient fuel consumption, so as to reduce the transport charge and curb down inflation rates, is driving the market for fuel management systems.
 
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