Fuel Management Systems Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F

The Global Fuel Management Systems market is anticipated to grow at a steady pace in the forecast period 2024-2028. Several industries such as defense, mining, and construction industries have high demand for fuel management technologies.

The adoption of fuel management devices will be sparked by the growing need for access control in gasoline dispensing applications and real-time fleet vehicle tracking. These factors are expected to accelerate the market expansion during the forecast period. Any industry that relies on transportation, including rail, road, water, and air for business purposes, requires fuel-management systems to maintain, control, and monitor the consumption of fuel and stock.

Moreover, systems for managing fuel consumption in the building and transportation sectors are effectively measurable. They are primarily used for fleets of vehicles, including those used in aviation and the transportation of individuals and products, via rail. To monitor and track fuel stockpiles, fuel purchases, and fuel dispensations, fuel management uses a variety of techniques and technology. The fuel management system is a group of hardware and software tools used to regulate, keep track of, and maintain fuel and stock usage through reports. Additionally, the data from these reports can be used to inform managerial practices by being saved in computerized systems. For instance, the new Worldwide Harmonised Light-Duty Vehicles Test Procedure (WLTP), which was created in collaboration with specialists from the E.U., Japan, and India in September 2017, makes it possible to access real-time information on the use of fuel and vehicle emissions. The system was developed to make it easier for the government to monitor its fuel usage.

Acceptance Of Cutting-Edge Products and Solutions for Fuel Management Systems

Fuel prices are a big issue in industries where fleets are essential to operations, including mining, transportation, and oil and gas. Most fleets spend more than 40% of their operating budget on fuel, and if companies run out, they could lose a lot of money. Less than 3% of the company's overall fuel budget is often lost to gasoline theft and loss. Fuel theft is on the rise, owing to the high price of oil and the ease with which refined fuel can be sold or used for personal gain. Since they allow users to monitor their fuel usage from the time they buy and store it until they use it, fuel management systems can considerably help in the prevention of fuel theft.

In recent years, a variety of unique and cutting-edge products and solutions for fuel management systems have been introduced into the market. These products and services are designed to make fuel management easier. For instance, Veeder-Root (US) and Gilbarco Veeder-Root (US) received a contract from National Joint Powers Alliance (NJPA, US) to provide fleet management and related technology solutions a new app for android called “Plus View” in 2017 for Android and iOS (Apple) devices and tablets. Users can quickly get inventory, compliance, and alarm data using this application due to its connections to the company's automatic tank gauges (TLS-450PLUS, TLS4i, TLS4c, and TLS-450).

Also, an effective fuel management system is required for maintaining less harmful environmental effects in the transportation and industrial sectors. In addition, a smart fuel management system will grow more popular as a result of the rising awareness of fuel management system in developing countries like China and India. This increase in spending on cutting-edge technology is also estimated due to which the market is expected to register a high CAGR in the forecast period of 2024 - 2028.

Additionally, due to its advantages, such as preventing fuel theft and regulating fuel usage, fuel storage is mostly used in the market. To detect leaks, underground storage tank (UST) monitoring systems continuously check the fuel levels in underground or aboveground storage tanks. Additionally, it will provide measures of the water level and volume, the fuel level, temperature, and the high and low fuel level warnings. Many systems can keep an eye on double-walled tanks, lines, pressurized pipes, and remote communication. UST monitoring systems are also referred to as automatic tank gauges, fuel management systems, and leak detection systems.

Transportation & Logistics Powerful Fleet Operational Use

The military and defense, oil and gas, transportation, and logistics, as well as other industries are some of the most important consumers of fuel management systems. Due to the extensive use of fleet operations, the transportation and logistics industry is expected to have the greatest demand for fuel management systems in the coming years. Moreover, market expansion is also accelerating due to the rising demand for fuel management systems in the Asia-Pacific mining and construction industries to monitor fuel inventory, track fuel transfers, and produce reports for ease of sustainability.

Lack of Technological Infrastructure

Some difficult aspects limiting market expansion such as the high prices and complexity of installing fuel management systems and the lack of technological infrastructure to put up extensive bases of monitoring systems. Other significant issues preventing the integration of fuel management controllers with cloud systems and cloud-based servers include cyber danger and data theft.

Growing Trend of Fuel Cards

In the automotive and transportation industries, fuel costs account for around 20% of the Total Cost of Ownership (TCO). Fuel cards, which can reduce fuel costs via a few percentage points, are becoming more popular, resulting in boosting market expansion. The expansion and financial success of fleet management companies in regions like Europe are also being fueled by the rising demand for full-service leasing and related fleet management.

Additionally, fuel transactions are often tracked by card-based fuel management systems using the driver's PIN and the filling credit card. The data can then be directly downloaded, and reports based on fuel use by drivers can be produced. Also, on-site fuel-management systems may make use of bulk fuel tanks or fleet refueling services. Fuel is monitored as it is injected into cars, and storage levels on-site can be controlled. Hence, due to the growing trend of using fuel cards, the global fuel management systems market is expected to grow further in the forecast period.

Growing Usage of Fuel Management in Car Battery’s

The fundamental fuel supply system for a car's petrol engine consists of a fuel tank, fuel lines, fuel pump, fuel filter, air cleaner, carburetor, and intake manifold. The petrol tank contains a component called a fuel pump. The pump is frequently integrated inside the tank of modern vehicles. A fuel pump may be found between the engine and the petrol tank if the vehicle is older. It could additionally have a direct connection to the engine. Injecting fuel is one of the main applications of a fuel pump. Moreover, rising demand of fuel pump in cars battery are also the applications of fuel management system.

Market Segmentation

The global Fuel Management Systems Market is divided into type, application, end user, process, offering and region. Based on type, the market is divided into card-based, on-site, and total fuel management. Based on application, the market is divided into fuel consumption, efficiency level, fleet management and viscosity control. Based on end user, the market is divided into road transportation, railway transportation, aircraft, marine. Based on process, the market is divided into measuring, monitoring, reporting and others. Based on offering, the market is divided into hardware, software, and services. Based on region, the market is divided into North America, Asia-Pacific, Europe, South America, and Middle East & Africa.

Market Players

Major market players in the global fuel management systems market are Dover Fueling Solutions, Triscan Group Limited, Piusi S.p.A., Franklin Fueling Systems, HID Global, Guduza System Technologies, Banlaw, ESI Total Fuel Management, Sokolis Group and Orpak Systems Ltd.

Report Scope:

In this report, the global fuel management systems market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Fuel Management Systems Market, By Type:

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

Fuel Management Systems Market, By Application:

• Fuel Consumption
• Efficiency Level
• Fleet Management
• Viscosity Control

Fuel Management Systems Market, By End User:

• Road Transportation
• Railway Transportation
• Aircraft
• Marine

Fuel Management Systems Market, By Process:

• Measuring
• Monitoring
• Reporting
• Others

Fuel Management Systems Market, By Offering:

• Hardware
• Software
• Services

Fuel Management Systems Market, By Region:

• North America
• United States
• Canada
• Mexico
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Indonesia
• Europe
• Germany
• United Kingdom
• France
• Russia
• Spain
• South America
• Brazil
• Argentina
• Middle East & Africa
• Saudi Arabia
• South Africa
• Egypt
• UAE
• Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Fuel Management Systems Market.

Available Customizations:

Global Fuel Management Systems Market report with the given market data, the publisher offers customizations according to a company's specific needs.


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