Global Fuel Management Systems Industry to 2027 – Volatility in Fuel Prices Drives Demand for Fuel Management Systems – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Fuel Management Systems – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Amid the COVID-19 crisis, the global market for Fuel Management Systems estimated at US$576.4 Million in the year 2020, is projected to reach a revised size of US$814.3 Million by 2027, growing at a CAGR of 5.1% over the analysis period 2020-2027.
Hardware, one of the segments analyzed in the report, is projected to grow at a 4.5% CAGR to reach US$348.7 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 5.8% CAGR for the next 7-year period. This segment currently accounts for a 34.5% share of the global Fuel Management Systems market.
The U.S. Accounts for Over 29.5% of Global Market Size in 2020, While China is Forecast to Grow at a 4.8% CAGR for the Period of 2020-2027
The Fuel Management Systems market in the U.S. is estimated at US$169.8 Million in the year 2020. The country currently accounts for a 29.46% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$144.2 Million in the year 2027 trailing a CAGR of 4.8% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 4.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR while Rest of European market (as defined in the study) will reach US$144.2 Million by the year 2027.
Services Segment Corners a 21% Share in 2020
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 5.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$97 Million in the year 2020 will reach a projected size of US$137.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$93.9 Million by the year 2027.
Select Competitors (Total 64 Featured) –
- Assetworks
- Banlaw
- Dover Fueling Solutions
- ESI Total Fuel Management
- Fluid Management Technology Pty Ltd.
- Franklin Fueling Systems
- Gilbarco Veeder-Root
- Guduza System Technologies (Pty) Ltd.
- HID Global Corporation
- Multiforce Systems Corporation
- Newlea Fuel Systems Ltd.
- Piusi S.p.a
- Road Track
- Romteck Australia
- Sentinel Fuel Products Ltd.
- SmartFlow Technologies
- TECHNOTRADE International, Inc.
- Timeplan Fuel Solutions Ltd.
- Triscan Group
- World Fuel Services Corporation
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
- Influencer Market Insights
- Fuel Management Systems: An Introduction
- Market Prospects and Outlook
- Developed Economies Lead Global FMS Market, Developing Regions to Drive Future Growth
- Hardware in Fuel Management Systems
- Physical ID Tokens for Identification of Vehicles and Equipment for Fueling
- Fuel Management System Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
- Impact of Covid-19 and a Looming Global Recession
- Depleting World Oil Reserves & Focus on Environment Protection Step Up the Emphasis on Fuel Management as a Critical Part of Energy Efficiency Management
- Growing Popularity of Energy Audits in the Transportation Industry Magnifies the Importance of Fuel Management: Global Investments in Energy Efficiency (In US$ Billion) for the Years 2016 and 2018 by Industry
- Although DebaTable if Carbon Tax is the Silver Bullet for Climate Change, it is Nevertheless a Watershed Event for the Fuel Management Systems Market
- Volatility in Fuel Prices Drives Demand for Fuel Management Systems
- Technologically Advanced Solutions Fuel Growth
- Cloud-Based Solutions Gain Demand for Fuel Management of Fleets
- Growth in Transport Infrastructure Auger Well for Market Growth
- Global Infrastructure Spending Estimates (as a Percentage of GDP) by Sector for 2007-2016 and 2017-2040
- Percentage Breakdown Global Greenhouse Gas Emissions from Transportation by Segment: 2018
- Fuel Management Systems Gain Traction as Commercial Fleets Shift Focus on Operational Efficiencies
- Rise in Number of Fuel Stations to Boost Demand for Fuel Management Systems
- Growing Use of Biofuel Poses New Challenges
III. MARKET ANALYSIS
- Stringent Environment Regulations on Optimized Use of Fuel Pushes Focus on Effective Fuel Management Systems
- Market Analytics
- Government Regulations towards Improved Fuel Economy in Heavy-Duty Trucks Drives Demand for Fuel Management Systems
- Market Analytics
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/y85czj
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