Marine Fuel Management Market Review By Comprehensive Study, Development Status, Opportunities and Future Plans Forecast to 2026
Posted on Dec 29 2020 7:13 AM
"Top Players in Marine Fuel Management Market are Siemens, ABB, Emerson, DNV-GL, Endress+Hauser Group, Eniram, BMT Group, Equatorial Marine Fuel Management Services, Aquametro Oil & Marine "
Marine fuel management is an important part of traveling at sea or at the port as it helps to analyze, study, and speculate the amount of fuel used by a particular generator or engine in between voyages. Marine fuel enhances the operational efficiency of ships. Fortune Business Insights in a report, titled “Marine Fuel Management Market Size, Share and Global Trend by Process (Measuring, Monitoring, Reporting, and Others), By Application (Fuel Consumption, Efficiency Level, Fleet Management, Viscosity Control, and Others), and Geography Forecast till 2026” foresees the global marine fuel market to witness remarkable growth in the coming years on account of the growing international trade and commerce relations worldwide.
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The report on the marine fuel management market contains:
- Future insights into the market
- In-depth study of the regions
- Product and brand strategies
- Factors enabling market growth
- Competitive landscape
- COVID-19 impact
List of companies functioning in the global market:
- Banlaw Systems Ltd.
- Siemens AG
- Interschalt Maritime Systems AG
- Aquametro Oil & Marine AG
- Equatorial Marine Fuel Management Services
- BMT Group
- Endress+Hauser Management AG
- DNV-GL AS
- Krill System
- Bergan Blue
- ABB Ltd.
“Collaborative Efforts of Bunkermetric and 20/20 Marine Energy Resulted in Launch of Predictive Analysis Tool, Augmenting Growth”
The techno giant Wartsila collaborated with TMS Cardiff Gas Ltd. in February 2018, with the aim of optimizing the performance of four vessels belonging to the TMS Cardiff Gas and achieving a reduction in fuel emission and low costs for fleet operation. Furthermore, the companies 20/20 Marine Energy and Bunkermetric signed a Memorandum of Understanding (MoU) in March 2018 for launching a predictive analysis tool. This tool will help fuel buyers, operators, and ship owners to understand the operating and financial impact of Sulphur 2020, that is declared to come into implementation from the 1st of January, 2020. Such company collaborations and combined innovative launches are likely to bode well for the growth of the global marine fuel management market in the forecast period.
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“Rise in Investment to Drive Market in Developing Nations”
Increasing investments made on ballast water management, navigation automation, density and viscosity meters, and fuel consumption meters, especially in developing nations is a major growth driver for the global marine fuel management market. In addition to this, the rise in offshore and onshore exploration activities around the world is also boosting the market. This, coupled with the reduction in the price of crude oil is anticipated to bring lucrative growth opportunities for the marine fuel management market in the near future.
On the flipside, sudden fluctuations in the prices of hydrocarbons since the year 2015 may affect the entire market revenue in a negative light.
The report answers the following questions:
- What are the recent marine fuel management market trends and developments?
- How will the market be affected by changing consumer behavior?
- Which strategies are being adopted by key players to enhance their market footprint?
- Which region will remain in the dominant position in terms of revenue?
- How many niche segments are present in the market?
“Implementation of Stringent Environmental Policies to Control Pollution and Global Warming is Boosting Market”
Geographically, the global marine fuel management market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. Among these, the market is expected to be dominated by North America on account of the high number of offshore support vessels and operation merchant vessels in the region. This, coupled with, the notable investment in the shipping industry for utilization of effective marine fuel and its management is likely to help North America remain dominant in the coming years as well.
Moreover, the European market for marine fuel management is also presumed to show significant growth. This is attributable to the strict imposition of environment protection norms and regulations and threats against pollution and global warming. With the imposition of these stringent policies, marine fuel was utilized in a better way and is anticipated to continue doing so in the coming years.
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On the other side, the market in Asia Pacific is prognosticated to show remarkable growth rates in the forecast period. This is due to the substantial movement of merchant’s vessels in developing nations - Singapore, China, and India. Thus the forecast period may witness Asia Pacific as the fastest growing market owing to the factors mentioned above.
Major Table of Contents for Marine Fuel Management Market:
- Executive Summary
- Market Dynamics
- Key Marine Fuel Management Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Global Marine Fuel Management Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
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