Global Fuel Management Systems (FMS) Market: Overview
Fuel cost accounts for a major portion of the transportation operating cost. Higher prices/fluctuating prices of fuel oil and strict environmental norms have led to the need for efficient management of fuel. Thus, monitoring, controlling, and reporting of fuel consumption is of key importance along with the management of fleet in order to control the total operating cost of a vessel. Railways and waterways are essentially inexpensive modes of goods/cargo/passenger movement. Operational cost is about 45% less as compared to roadways and about 70% less than air transportation. By waterways, a large bulk can be transported in one go. Demand for merchant vessels is thus high for movement and transportation of goods, cargo, and oil and gas.
Regional, national, and international trades flourish with the increase in advancements in the transportation industry. Enforcement of emission control areas (ECAs) is anticipated to augment the demand for middle distillate oils (MDOs and MGOs). Stringent regulations and mandates levied on the shipping industry for curbing operation cost and emission control have led to more technological developments and advancement in building efficient fuel management systems to control the overall costs. Technologies in fleet management and fuel consumption (monitoring, control, and reporting) are largely available along with viscosity control of the fuel.
Global Fuel Management Systems (FMS) Market: Research Methodology
Primary research represented the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities
Secondary research sources which were typically referred to, but are not limited to, include: company websites, annual reports, financial reports, internal and external proprietary databases as well as relevant patent and regulatory database, national government documents, market reports, news articles, press releases, industry magazines, webcasts specific to companies operating in the market, and regulatory databases such as Factiva and Bloomberg, national government documents, statistical databases, and webcasts specific to companies operating in the Fuel Management Systems (FMS) market.
We conduct primary interviews on an ongoing basis with mining industry participants and commentators to validate data and analysis. Primary and secondary research were conducted to understand and arrive at trends, which were employed to carry out forecasts for the Fuel Management Systems (FMS) market. These help validate and strengthen secondary research findings. These also help develop the analysis, team’s expertise and market understanding.
Global Fuel Management Systems (FMS) Market: Competitive Landcsape
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.
Global Fuel Management Systems (FMS) Market has been segmented as follows:
Global Fuel Management Systems (FMS) Market, by Process
Global Fuel Management Systems (FMS) Market, by Application
Global Fuel Management Systems (FMS) Market, by End-User
Global Fuel Management Systems (FMS) Market, by Region
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