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Fuel Management System Market estimated to be worth 707.4 million USD by 2023

 



(IT-NEWSWIRE.COM, November 25, 2021 ) According to the new market research report "Fuel Management System Market by Offering (Hardware, Software, and Services), Application (Fuel Storage Monitoring, and Access Control & Fuel Dispensing), Industry (Transportation & Logistics, and Oil & Gas), and Geography - Global Forecast to 2023", the fuel management system market is expected to grow from USD 515.9 million in 2018 to USD 707.4 million by 2023, at a CAGR of 6.52% between 2018 and 2023. The growth of this market can be attributed to the high demand for fuel management systems from the transportation and logistics industry for fuel storage monitoring, and access control and fuel dispensing applications.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=255245201

Access control and fuel dispensing applications to hold larger share of fuel management system market in 2018

By application, access control and fuel dispensing leads the fuel management system market. High demand for fuel management systems from the transportation and logistics, mining and construction, and oil & gas industries is one of the major factors driving the growth of the market for access control and fuel dispensing applications.

Market for mining and construction industry to grow at high CAGR during forecast period

The fuel management system market for the mining and construction industry is expected to witness the high growth during the forecast period. North America and APAC are the two major regions generating high demand for fuel management systems for mining and construction activities.

North America expected to hold largest share of fuel management system market in 2018

North America is expected to hold the largest share of the fuel management system market in 2018. The US currently accounts for the largest share of the fuel management system market in North America, followed by Canada and Mexico.

APAC is expected to account for the second largest share of the fuel management system market throughout the forecast period. China, Japan, Australia, and India are the key countries contributing to the growth of fuel management system market in APAC.

A few major players operating in the fuel management system market are Dover (US), Franklin Fueling Systems (US), Gilbarco Veeder-Root (US), HID Global (US), Multiforce Systems (US), ESI Total Fuel Management (US), Road Track (Mexico), Triscan Group (UK), PIUSI (Italy), Banlaw (Australia), Fluid Management Technology (Australia), Guduza System Technologies (South Africa), and Technotrade (Ukraine).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

MarketsandMarkets™

Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com



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