Market Research Report
Global Marine Fuel Management Market Size study, By Process, By Application, and Regional Forecasts 2020-2027
|Published by||Bizwit Research & Consulting LLP||Product code||962898|
Delivery time: 2-3 business days
|Global Marine Fuel Management Market Size study, By Process, By Application, and Regional Forecasts 2020-2027|
|Published: October 1, 2020||Content info:||
Global Marine Fuel Management Market Size study, By Process (Measuring, Monitoring, Reporting, Throttle Optimization, Fuel Theft Detection, and Tank Level), By Application (Fuel Consumption, Efficiency Level, Fleet Management, Viscosity Control, Shore Side Reporting, Cross Fleet Standardization, and Cargo Delivery Verification), and Regional Forecasts 2020-2027.
Global Marine Fuel Management Market is valued approximately at USD 1.94 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.86% over the forecast period 2020-2027. Marine Fuel Management Market is a method for calculating, tracking and reporting the fuel consumption of vessels, ships and boats in order to assess fuel consumption, improve transport management, minimize emissions and increase operating efficiency. Marine fuel control systems help to provide reliable data on the amount of fuel oil used during combustion at any given speed of the vessel or engine rpm. The crew of the ship will continuously calculate and track the fuel. The Constant Measurement Method helps to calculate the rate of combustion of fuel or the quantity of fuel needed by the engine at a given rpm in an hour or a full day. Prime functions of the Marine Fuel Management Market include protection against fuel supply volatility and shortages, bulk fuel purchases, improved visibility and fuel cost control, reduced fuel theft by increased visibility, and increased vessel performance. Implementation of a strict regulatory system and regulations related to the minimization of fleet theft boosts the market for marine fuel management. Increased maritime activities in developed and developing countries have increased demand for marine fuel management. Governments in many countries are also promoting the production and implementation of the new technologies in the market for marine fuel management systems. The International Maritime Organization (IMO) of the United Nations has set new rules banning ships from using fuels with a Sulphur content of more than 0.5 per cent as of 1 January 2020. The current allowable amount is 3.5% unless vessels are fitted with scrubbers to clean up Sulphur pollution. This is expected to boost demand for marine fuel management in the shipping industry in areas such as Norway, China, Singapore, and the United States. The globalization of the shipping industry has changed many aspects, such as the global flow of goods / cargo, the unification of marine fuel quality to minimize harmful emissions, the standardization of cost per ship (operating cost) and technical developments in marine fuel management technologies.
The regional analysis of global Marine Fuel Management Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. It is projected that Asia Pacific is emerging as one of the leading regions of the global market for marine fuel management. Extremely environmental-conscious Europe is predicted to dominate the global market for marine fuel management in the near future. The global market for marine fuel management is expected to experience a significant number of partnerships between process developers and marine propulsion manufacturers over the next few years.
Major market player included in this report are:
Banlaw Systems Ltd.
Endress+Hauser Management AG
Interschalt Marine Systems GmbH
Krill Systems, Inc.
Nautical Control LP
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Fuel Theft Detection
Shore Side Reporting
Cross Fleet Standardization
Cargo Delivery Verification
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2017, 2018
Base year - 2019
Forecast period - 2020 to 2027
Target Audience of the Global Marine Fuel Management Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers