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Fuel Management System Market: Information by Application (Fuel Storage Monitoring, Access Control and Fuel Dispensing), Industry, and Region — Forecast till 2029

Market Snapshot
Study Period:
Base Year:
Fastest Growing Market:
Middle East & Europe
Largest Market:
North America
10.2 %
Key Players

Franklin Fuelling Systems

Gilbarco Veeder-Root

HID Global

Multiforce Systems

ESI Total Fuel Management

The global fuel management system market is expected to witness massive growth during the forecast period, owing to the high operating expenses and complexities involved in controlling fuel costs. Traditional data collection methods based on the daily odometer readings can be inaccurate and are subject to manual changes. Automated data collection, on the other hand, enabled by the fuel management system, measures re-fuelling activities, prevents human error, and helps the managers understand the data. Fleet cards incorporated with features can help track vehicles to ensure that they are receiving the maintenance and repairs and attaining maximum fuel efficiency

Impact of Coronavirus on Market

The spread of novel coronavirus has shaken the global markets; oil prices have soared, demand has doubled, and supply has weakened due to risks, in the four-month duration. The spread of the COVID-19 beyond Asia has put the global fuel market in losses. Lockdowns and travel restrictions have limited the use of jet fuels. The industrial fuel sector witnessed heavy losses as activities halted when employees and workers advised staying home. Fuel-based production witnessed a sharp decline. The International Energy Agency’s (IEA) estimated that oil consumption will decline by 600─800,000 barrels per day in the first quarter of 2020 and by 200,000 over the rest of the year. The expected per-barrel value curve of fuel has flattened, leaving oil traders uninterested in selling their stocks. The coronavirus spread in the U.S. and Europe has further negatively influenced the oil market confidence as it has scaled down the fuel consumption, thereby restricting the market growth

Market Dynamics

Generational Evolution of Efficient Fuel Management Solutions

The first-generation fuel management systems in the 1960s used electromechanical counters, pulsed by a shaft-driven encoder fitted to the pump. Electronic control systems with I.D. readers identified the vehicle, and the controlling pump measured the fuel delivered and reported fuel drawn by a vehicle. The systems were connected to integral printers, and back-office consoles were further connected to low-cost P.C. This constituted the second-generation of fuel management systems. The third-gen was similar to the previous one in the sense that it was connected to a P.C. that generated the fuel report, and fuel inputs were centralized. Although the fuel management system market is still under development phase with many key vendors and regional authorities investing in developing a sustainable, integrable, and accurate management system. The manufacturers are focused on the real-time monitoring of operations that enables providers to analyze stock figures, tank gauging, fuel theft, and timely deliveries

Exponentially Rising Fuel Demand Prompting Management Need and Operational Optimization

The rise in global energy consumption, especially in the transportation and industrial sectors, is driving the demand for an efficient fuel management system to monitor its use and hazardous impact on the environment. The growing disposable income in developing nations such as China and India is also expected to increase the expenditure toward novel technologies, which is expected to nudge the demand for an intelligent fuel management system.

High Installation and Maintenance Charges and Cyber Threat to Restrain the Market Growth

High-costs and complexity involved in the installation of fuel management systems and lack of availability of advanced infrastructure to set up large bases of monitoring systems are some challenging factors restraining the market growth. Cyber threat and data theft are some other major concerns limiting the integration of fuel management controllers with cloud systems and cloud-based servers

The global fuel managers and key vendors in the market are focusing on developing advanced and digitally controlled administration to effectively monitor the fuel costs and decrease the wastage of oil and gas with stockpiling. The latest technology, such as integration apps with mobile systems and smartphones, is further expected to boost market growth during the forecast period. The U.S.-based Veeder-Root has recently released The PLUS VIEW, a mobile application for Android and iOS-based phones and tablets. The application connects to the company’s automatic tank gauges and provides quick access to inventory, compliance, and alarm information.

Transportation and Logistics Heavy Fleet Operational Use

The most prominent end-user of the fuel management systems include mining and construction, military and defense, oil and gas, transportation and logistics, and others. The transportation and logistics sector is anticipated to call for the highest demand for fuel management systems in the upcoming years, owing to the heavy usage in fleet operations. Increasing demand for fuel management systems in mining and construction activities in Asia-Pacific is accelerating market growth. There is a growing demand for the military fuel management system to gauge fuel transfers, monitor fuel inventory, and generate reports for ease of sustainability. Fuel management in the military requires accurate information in order to maximize the readiness of their defense operations.

Regional Insights

North America’s Extensive Functional Fleet Operations

The North American fuel management market is predominantly driven by functional vehicle fleet operations. Notable companies in the region are focusing on operational effectiveness and reduction in the overall costs of fleets. To achieve these goals, many companies in the U.S., Canada, and Mexico are outsourcing the management of vehicles to external providers. The adoption of new technologies and public-private partnerships to allocate funding for research and development is likely to bring forth innovative market growth.

Innovations in Modern Transport Solutions and Adoption of Smart Fleet Cards  

Fuel prices constitute about 20% of the Total Cost Ownership (TCO) in the automotive and transportation sector. Growing trends of fuel cards to lower fuel expenses by a few percentages are bolstering the market growth. The increasing demand for full-service leasing and associated fleet management is also propelling the growth and profitability of fleet management companies in Europe. Countries such as the U.K., France, Germany, and Spain are focusing on developing a fuel-efficient, environment-friendly, and extended life to promote efficient fuel and fleet management. This approach can lead to various cost savings during the forecast period.

In September 2017, the new Worldwide Harmonized Light-Duty Vehicles Test Procedure (WLTP) was jointly developed by experts of the E.U., Japan, and India to facilitate real-time details on vehicle emission and fuel consumption. The regime was designed to help authorities keep track of their fuel consumption. Marine transportation accounts for the most fuel consumption along with railways and roadways, which are also expected to engender market expansion. Substantial increase in energy consumption and volatility in fuel prices has compelled energy providers to install technologically advanced fuel management systems, which are accelerating the pace of the market sector

Rising Fuel Theft Incidences in the Middle East and Africa

Countries such as Argentina, Brazil, Chile, Mexico, and Peru, are securely managing the fuel spending from their research reactors. Key vendors are focusing on the interim storage and eco-friendly disposal of the spent fuel. To achieve the target, the regional government is encouraging the initiation of surveillance programs to monitor fuel usage in a reactor and maintain a common database on fuel inventories. Although low fuel prices initially eliminated the need of management system, however, rising cases of fuel theft in recent years have urged authorities in both the Middle East and Africa to implement quality fuel monitoring and fleet optimization solutions

Recent Developments

In March 2018, the U.S.-based Gilbarco Veeder-Root received a contract from National Joint Powers Alliance (NJPA) to deliver fuel management and related technology solutions in the region.

In October 2016, Dover launched its stand-alone Petro Vend 100 Fuel Control System (PV100) to support up to 1,000 fleet cards, chipkey activation, and dual card operations. The fuel control system provides site operators with the ability to scale up from 50 to 1,000 users and from two to four fuelling positions

Key Players

Some of the most prominent industry players in the global fuel management system market include Dover, Franklin Fuelling Systems, Gilbarco Veeder-Root, HID Global, Multiforce Systems, ESI Total Fuel Management, Road Track, Triscan Group, Banlaw, and PIUSI

Fuel Management Systems Market Segmentation

By Application

  • Fuel Storage Monitoring
  • Access Control & Fuel Dispensing

By Industry

  • Mining & Construction
  • Military & Defence
  • Oil & Gas
  • Transportation & Logistics
  • Others

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa
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