Globally, energy consumption and demand have been skyrocketing in the recent past. These trends are fundamentally connected to economic growth as both its catalyst and a resultant factor across regions. Meanwhile, the rising environmental damage caused by unregulated fuel consumption has created several hazardous situations. Against such a backdrop, an acute need to balance economic growth with environmental well-being has enabled widespread demand creation of fuel management systems. They are being used in transportation, mining, construction, energy, and defence industries to control fuel usage. The advancements in digital technologies are helping the industry players further enhance the effectiveness and accuracy of fuel management solutions. They are also reducing fuel theft by using advanced sensors and automated algorithms. All these factors are set to create sound business opportunities for the global fuel management system market.

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Growing Occurrence of Fuel Theft to Increase Demand for Fuel Management Systems

Considering the incessantly mounting fuel prices, the need for effective fuel management systems to eliminate fuel theft incidence is creating desirable outcomes. Several industry stakeholders are developing automotive fuel monitoring systems to address the issues. Anti-siphoning smart devices and fuel monitoring software solutions are also being employed. Construction and locomotive industry participants are actively aiming to decrease fuel theft while food and pharmaceutical firms are using fuel monitoring systems to avoid inconsistencies. The use of cloud-based fuel purchases is also growing amidst these developments. The cumulative force of these factors is expected to sustain the healthy growth momentum of the global fuel management system market.

Focus on Mitigating Environmental Hazards to Sustain Growth of Global Fuel Management System Market

The increasing scrutiny for environmental damage caused by fossil fuels necessitates adopting sophisticated fuel management solutions. They are used to monitor the hazardous effects of fuel usage in the transportation and industrial domains. Besides, the increasing fuel consumption due to paced goods and equipment transportation is furthering the growth prospects of the global fuel management system market. Several developed and developing economies are closely analysing fuel consumption patterns to align them optimally with development efforts without sacrificing environmental health. In addition, increased fleet management services and cross-fleet standardisation while carrying oil and gas products and other cargo are creating the demand for advanced fuel management solutions.

Mature Defence and Logistics Sectors to Cement North America’s Dominance

The fuel management system market in North America is exhibiting tremendous promise in revenue share terms. Key regional economies such as the USA are one of the leading fuel management system consumers globally. The thriving logistics and transportation industry and stringent environmental regulations are nurturing a fructuous market landscape. The USA and Canada are leading defence and military equipment manufacturers and users which contributes significantly to overall fuel consumption. All these factors are set to operate in conjunction to establish North America’s market leadership in the forecast period.

Major Market Players

Some of the most influential players in the global fuel management system market include Dover (US), Gilbarco Veeder-Root (US), PIUSI (Italy), Franklin Fueling Systems (US), HID Global (US), Triscan Group (UK), Road Track (Mexico), Multiforce Systems (US), Fluid Management Technology (Australia), and Banlaw (Australia).

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