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Automotive Fuel Management System Market Segmented By offering such as Hardware (Automatic Tank Gauge Systems, Fuel Control Systems, Identification Devices), Software with vehicle such as Passenger Cars, commercial vehicles (Heavy Trucks, Buses & Trailers, Light Commercial Vehicles)
An automotive fuel management system is used to monitor fuel consumption, including fuel leakage, fuel addition and syphon, to optimize and save fuel-related investments. By an integrating automotive fuel management system in a vehicle, massive fuel waste or fuel theft can be easily detected.
This activity is reported on the fuel management software. An automotive fuel management system consists of a fuel sensor, GPS tracker, On Board Diagnostics II and web tracking software.
Fuel sensors are directly integrated into the vehicle fuel tank, which is used to detect the fuel level in the tank and send data in the form of signals to GPS tracker. The GPS tracker sends data to web tracking software and after accurate calibration, the web tracking software displays the amount of fuel in a vehicle. On Board Diagnostics II detects the fault in the vehicle and also standardizes the exhaust gas emission to manage the fuel consumption.
Rapid growth in automotive and transportation sectors is expected to propel the demand for automotive fuel management systems. Automotive fuel management systems offer various benefits. For instance, they identify critical performance issues quickly, reduce manual analytical work of mechanics and maintain & control fuel consumption.
These are some of the key factors expected to fuel the growth of the automotive fuel management system market during the forecast period. By controlling & maintaining fuel consumption, the mileage and life of the vehicle increases as well as control the unnecessary vehicle emission. Furthermore, to prevent fuel theft and maintain effective inventory control, the amount of fuel being transported to the vehicle is constantly measured in order to reduce the fuel waste.
Automotive fuel management systems are mostly integrated in commercial vehicles because many high cost businesses use heavy trucks and tanks for transportation and logistics purposes and thus, to reduce losses and earn profit, the use of fuel must be optimized. This factor is expected to boost the growth of automotive fuel management system market during the forecast period.
However, automotive fuel management systems increase the final price of vehicles as these systems have high initial investment cost. This factor is expected to hamper the growth of automotive fuel management system market during the forecast period. Moreover, lack of awareness in emerging economies regarding the benefits of these fuel management systems is another key challenge for the automotive fuel management system market.
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Developed regions, such as Western Europe and North America, are estimated to dominate the automotive fuel management system market owing to increasing awareness about reducing vehicle emission and promoting environment safety. Along with this factor, high disposable income of these regions will allow automobile OEMs to integrate these systems into their vehicles.
Moreover, emerging economies, such as India, China and Brazil, among others, will create significant opportunities for the automotive fuel management system market due to the expanding transportation and logistics industry in the region, which will propel the demand for fuel management systems over the forecast period. Additionally, growing infrastructural development will propel the demand for commercial vehicles, which in turn, will boost the growth of the automotive fuel management system market during the forecast period.
Examples of some of the market participants identified across the value chain of the global Automotive Fuel Management System market are:
The Automotive Fuel Management System market research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The Automotive Fuel Management System market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The Automotive Fuel Management System market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The Automotive Fuel Management System market report also maps the qualitative impact of various market factors on market segments and geographies.