Business Description
Global Marine Fuel Management Market is expected to reach US$ 5.7 Bn by 2026 from US$ 3.9 Bn in 2017 at a CAGR of 4.21%.
Global Marine Fuel Management Market
Global Marine Fuel Management Market is a method to measure, monitor, and report fuel usage of vessels, ships, and boats in order to analyze 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 the 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.
Global Marine Fuel Management Market
This information reported by
Maximize Market Research Company
