Fuel Management Systems (FMS) Market Is Expected to Proliferate at a CAGR of 4.3% Between 2017 and 2025

Albany, NY — (PRESS RELEASE JET) — 10/06/2017 — Transparency Market Research (www.transparencymarketresearch.com) has released a new market report titled “Fuel Management Systems Market by Process (Measuring, Monitoring, Reporting, and Others) by Application (Fuel Consumption, Efficiency Level, Fleet Management, Viscosity Control, and Others) By End-User (Road Transportation, Rail Transportation, Marine, and Aircraft) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2025.” According to the report, the global Fuel Management Systems (FMS) market revenue was US$ 6,855.7 Mn in 2016 and is projected to reach US$ 9,954.4 Mn by 2025 at a CAGR of 4.3% from 2017 to 2025.

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Fuel management is an approach to measure, monitor, and report fuel usage of vessels/ships, vehicles, railways, and some engines in order to reduce fuel usage, improve fleet management, reduce emissions, and increase operational efficiency. Cost of fuel accounts for 45% to 70% of the total fleet operating cost. The marine sector consumes maximum fuel and hence, 60% to 70% of the total operation cost consists of fuel. Fluctuating fuel prices and stringent environmental norms have led to higher focus on energy efficiency and environment protection.

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Globalization trends in the transportation industry are beneficial in various aspects such as global goods/cargo movements, unification in the quality of fuel employed to reduce harmful emissions, standardization of cost per ship (operating cost), and technological advancements in fuel management techniques. In a globalized economy, the railway industry has a major advantage of integrated freight transportation across all modes of vessels, which is estimated to be closely followed by marine, road, and aircraft transportation. A majority of measuring, monitoring, and reporting technologies of the fuel management systems make them collectively usable in all three modes of transport, simultaneously. Global crude oil prices have experienced major fluctuations since 2014. This directly affects the prices of refined products. Stringent environmental norms have prompted the transportation industry to employ more refined fuel (for marine, airways, and roadways), which has further increased the fuel cost. Measured aspects are monitored with either automated or manual systems (physical data entry of the details in vessel log books). The fuel consumption of any transportation fleet can also be determined by monitoring the tanks. Level of fuel in the tank is commonly measured for on-board the transportation fleet. This is also called tank sounding. Various types of tank sounding methods in use are now getting converted upfront to more electronically governed to get real time data

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Asia Pacific is expected to see high growth in the fuel management systems market. Consumption of energy is anticipated to increase significantly due to rapid industrial development and urbanization of India, Korea, Indonesia and China. Railway locomotives, trucks, and buses, and others have similar designed FMS for ease of access and real-time notifications with high growth anticipated in railways. Railways are least polluting mode of transport and it is one of the biggest reasons for growth in this sector and technological advancements like the advanced fuel management systems for locomotives.

Global Fuel Management Systems Market Report is available @ US$ 5795

Key major players operating in the Fuel Management Systems (FMS) market include Omnitracs, LLC, E-Drive Technology, The Veeder-Root Company, ESI Total Fuel Management, SCI Distribution, LLC, Fluid Management Technology Pty Ltd., SmartFlow Technologies, Emerson, Guduza System Technologies, Fleetmatics Group PLC, Telenav, Inc., TomTom International BV, and Trimble Inc.

About Transparency Market Research
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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About the Author: Bob Cooper

Bob Cooper is Canadian Business Tribune''s senior editor. He is also a nationally syndicated newspaper columnist and a bestselling author. He lives in London Ontario and covers the intersection of money, politics and finance. He appears periodically on national television shows and has been published in (among others) The National Post, Politico, The Atlantic, Harper’s, Wired.com, Vice and Salon.com. He also has served as a journalist and consultant on documentaries for CBC and Global News . In 2014, he was the winner of the Society of American Business Editors and Writers' investigative journalism award, and the winner of the Izzy Award for Journalism from Ithaca College's Park Center for Independent Media. He was also a finalist for UCLA's Gerald R. Loeb Award and Syracuse University's Mirror Award. Before becoming a journalist in 2006, Sirota worked in Washington for, among others, U.S. Rep. Bernie Sanders, the U.S. House Appropriations Committee Minority Staff and the Center for American Progress.