The management of fuel consumption is acquiring increased prominence as companies and organizations are becoming increasingly responsible with fuel resources. Market reports connected to the energy and power industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is projected to increase at a 4% CAGR in the forecast period.
The need for proper management of fuel and are also used to efficiently measure the fuel consumption in the transport and construction industries is the key factor driving the market for fuel management systems. The benefits of complete fuel accountability and protection against fuel theft are fortifying the overall market. The upsurge in fuel prices globally is expected to accelerate market growth in the forecast period.
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The market segmentation of fuel management system is carried out on the basis of type, application, and region.
The segmentation of the fuel management system market on the basis of type, comprises of on-site, card-based, and total fuel management.
On the basis of application, the market is segmented into transport fleet, mobile fueling systems, and others.
The regions covered in this market are North America, Europe, Asia Pacific and rest of the world.
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Detailed Regional Analysis
The regional analysis of the fuel management system market comprises of regions such as North America, Europe, Asia Pacific and rest of the world. The North American region is the foremost market for fuel management systems market and is followed by the European region. The growth in transport infrastructure and the upsurge in fuel consumption in the countries such as Canada and U.S are the major drivers of the market in the region. Major transporting of goods and equipment that are dependent on the transport system that is efficient and effective fuel consumption, and can reduce the transport charge and control inflation rates, is motivating the market for fuel management systems.
The crucial competitors in the fuel management system market are The Triscan Group (U.K), Franklin Fueling Systems (U.S), Sokolis Group (U.S) Guduza System Technologies (South Africa), Timeplan Fuel Solutions (U.K), Banlaw (Australia), Piusi S.p.a. (Italy), Wayne Fueling Systems LLC (U.S), OPW Fuel Management Systems (U.S), and Orpak Systems Ltd. (Israel).
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