Marine Fuel Management Market 2016 Share, Trend and Forecast Marine Fuel Management Market - Global Industry An

Marine Fuel Management Market - Global
Industry Analysis, Size, Share, Growth, Trends,
and Forecast 2016 - 2024
Global Marine Fuel Management Market: Snapshot
The rising cost of fuel is having the most prominent impact on the global marine
fuel management market. As marine fuel management systems assist significantly
in calculating the exact amount of fuel oil burnt at any particular vessel speed or
engine rpm, their usage in ships and marine vessels has increased substantially,
which, as a result, is reflecting positively on this market. Apart from this, the rising
number of stringent government regulations intended to curb pollution at sea is also
impacting this market greatly. However, the current decline in the oil prices and the
subsequent slowdown in the oil and gas industry is likely to restrict this market from
growing steadily in the near future.
The overall revenue generated in the global marine fuel management market in
2015 was US$3.82 bn. Burgeoning at a CAGR of 4.10% between 2016 and 2024, the
market is projected to reach US$5.43 bn by the end of 2024.
View Report @ http://www.transparencymarketresearch.com/marine-fuel-
management-market.html
Fleet Management to Remain Key Contributing Application Area
Fuel consumption, efficiency level, fleet management, viscosity control, other
systems, such as shore side reporting, cross fleet standardization, and cargo
delivery verification are the prime application areas of marine fuel management
systems. Among these, fleet management surfaced as the most prominent
application segment with a share of 25.49% in 2015. This segment is anticipated to
maintain its lead; however, with a slight decline in its market shares.
The demand for marine fuel management systems is expected to increase
substantially from the fuel consumption segment over the next few years on
account of the rising need for reducing the fuel consumption to save operational
expenditure.
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