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Fuel Management Systems (FMS) Market Growth with Worldwide Industry Analysis to 2025

Global Fuel Management Systems (FMS) Market: Snapshot

There are many factors serving to drive the global fuel management systems market. The need to check fuel pilferage and bring transparency in fuel consumption are some of them. This is because fuel accounts for most of the operating cost in transportation.

An effective fuel management system (FMS) helps to tackle challenges posed by higher or fluctuating prices of oil used as fuel and also difficulties cropping from stringent regulations pertaining to environment by effective management of fuel. It does so by monitoring, controlling, and reporting fuel consumption. This unique perceived benefit has driven up the demand for fuel management system (FMS).

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A report by Transparency Market Research projects the global market for to register a lackluster 4.3% CAGR during the period between 2017 and 2025 to become worth US$9.95 bn by 2025 from US$6.85 bn in 2016.

 

fuel management system market
 

 

Railways Primarily Drive Demand in Market

Depending upon end-use, the market can be divided into railway, road, marine, and aircraft. Of them, the segment of marine transportation accounts for most of the demand in the market. Railways are least polluting mode of transport and it is one of the biggest reasons for growth in this sector. Besides, emergence of technologically advanced fuel management systems for locomotives is also providing a boost to the market.

The different types of processing deployed in the market are measuring, monitoring, and controlling, among others. Measuring, for example, includes bunker delivery note (BDN) which is the amount of fuel bunkered, tank sounding, which is a system for measurement of the amount of fuel inside the tank, and fuel flow meters, which measures fuel supplied to engines, generators, and boilers. Controlling FMS systems are specific, automated devices/equipment installed in the fleet, which maintain desired specifications at all times of their operations. Controlling helps tackle the rising cost of fuel, as it reports and controls the fuel consumption and increases the operational efficiency.

Based on application, the global fuel management system (FMS) market can be segmented into fuel consumption, efficiency level, fleet management, viscosity control, and others.

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Asia Pacific Outpaces Other Regions’ Growth due to Urbanization and Industrialization

From a geographical standpoint, Asia Pacific dominates the global fuel management systems (FMS) market with maximum share. The region is also expected to outpace all others in terms of growth rate by registering a CAGR of 4.6% in the forecast period and thereby grow its dominant share to 41.8% by 2025. This is because of the rapid industrialization and urbanization leading to considerable investment in navigation automation, fuel management systems, dynamic positioning of vessels, ballast water management, fuel consumption meters, and density and viscosity meters.



on January 21 at 11:58

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