Marine Fuel Management Market – Global Industry Analysis and Forecast (2023-2029)

Marine Fuel Management Market size is projected to reach USD 6.48 Bn. at the end of the forecast period at a CAGR of 4%.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

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Marine Fuel Management Market is a method to measure, monitor, and report fuel usage of vessels, ships, and boats in order to analyse fuel usage, improve transportation management, decrease emissions, and increase operational efficiency. Marine fuel management systems help in providing precise data about the amount of fuel oil used during combustion at any specific vessel speed or engine rpm. Ship’s crew can continuously measure and monitor the fuel. Constant measuring system assists in measuring fuel combustion rate or the quantity of fuel required by an engine at a particular rpm in an hour or in one full day. Prime functions of Marine Fuel Management Market include protection against fluctuations and shortages in fuel supply, fuel purchases in bulk quantity, closer visibility and control of fuelling costs, reduced fuel theft through higher visibility, and increasing vessel efficiency.

Marine Fuel Management Market is segmented into process and application. In process segment, measuring segment has a major share in the global market during the forecast period. Monitoring segment is projected to increase rapidly due to growing adoption rate of monitoring function in Marine Fuel Management Market.

In terms of the application segment, fleet management segment has emerged as the leading application area and is expected to maintain its lead throughout the forecast period. Development of this segment is derived by substantial demand for consistent fleet fuel management solutions to cut down on fuel costs and increase operational performance of fleets.

By region, the Marine Fuel Management Market is segmented into the Asia Pacific, North America, Europe, the Middle East & Africa, and Latin America. Asia Pacific region largest market share for marine fuel management market in 2022. The dominance of the market is mainly credited to growing shipbuilding activities and additional old marine fuel management systems with advanced ones.

North America is followed by the Asia Pacific in terms of the revenue-generating region in the Marine Fuel Management Market and accounted for around xx% share of the total market in 2022. Fleet management and fuel consumption, together accounted for about xx% of the total market in 2015, with the former constituting around xx%. The fleet management application area is expected to grow at a faster rate of xx% during the forecast period. The Marine Fuel Management Market is driven by factors such as increasing government regulations with respect to air emissions & other discharges, and innovation in fuel management technology.

Key player’s studies, analyzed, profiled and benchmarked in Market are ABB, Aquametro AG, Banlaw Systems Ltd., Bergan Blue, BMT Group, DNV-GL AS, Emerson, Endress+Hauser Management AG, Eniram, Interschalt Marine Systems GmbH, Kaminco, Krill Systems, Inc., Marorka, Mustang Technologies, Nautical Control LP, and Siemens AG.

The objective of the report is to present comprehensive Global Market  including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.

The report also helps in understanding Global Market  North America for Asia Pacific dynamics, structure by analyzing the market segments, and project the Global Market  North America for Asia Pacific   size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Market  North America for Asia Pacific make the report investor’s guide.
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Global Marine Fuel Management Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 4.93 Bn.


Forecast Period 2023 to 2029 CAGR:
4%
Market Size in 2029:
US $ 6.48 Bn.


 Segments Covered:
by Product
Product I
Product II
Product III


by Process
Measuring
Monitoring
Reporting
Throttle Optimization
Fuel Theft Detection
Tank Level


by Application
Fuel Consumption
Efficiency Level
Fleet Management
Viscosity Control
Shore Side Reporting
Cross Fleet Standardization
Cargo Delivery Verification



Marine Fuel Management Market, by Region:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Marine Fuel Management Market Key Players:
1. ABB
2. Aquametro AG
3. Banlaw Systems Ltd.
4. Bergan Blue
5. BMT Group
6. DNV-GL AS
7. Emerson
8. Endress+Hauser Management AG
9. Eniram
10.Interschalt Marine Systems GmbH
11.Kaminco
12.Krill Systems, Inc.
13.Marorka
14.Mustang Technologies
15.Nautical Control LP
16.Siemens AG
17.INTERSCHALT Maritime Systems
18.EQUATORIAL MARINE FUEL MANAGEMENT SERVICES PTE LTD
19.Marine Fluid Technology A/S
20.Drew Marine Fuel Management
21.Marine Kingdom Shipping

Frequently Asked Questions:

1. Which region has the largest share in Global Marine Fuel Management Market?
Ans: Asia Pacific region holds the highest share in 2022.

2. What is the growth rate of Global Marine Fuel Management Market?
Ans: The Global Market is growing at a CAGR of 4% during forecasting period 2023-2029.

3. What is scope of the Global market report?
Ans: Global Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global market?
Ans: The important key players in the Global Market are – ABB, Aquametro AG, Banlaw Systems Ltd., Bergan Blue, BMT Group, DNV-GL AS, Emerson, Endress+Hauser Management AG, Eniram, Interschalt Marine Systems GmbH, Kaminco, Krill Systems, Inc., Marorka, Mustang Technologies, Nautical Control LP, Siemens AG, INTERSCHALT Maritime Systems, EQUATORIAL MARINE FUEL MANAGEMENT SERVICES PTE LTD, Marine Fluid Technology A/S, Drew Marine Fuel Management, and Marine Kingdom Shipping

5. What is the study period of this market?
Ans: The Global Market is studied from 2022 to 2029.