Multiforce Systems Corporation, OPW Fuel Management Systems, Orpak Systems Ltd., Banlaw, and Syntech Systems, Inc., are some of the key market players operating in the global fuel management system market. The listing of key players is derived by considering multiple factors such as overall revenue, current automotive smart key portfolio, geographical reach, new product launches, market initiatives, and investment in technology up gradation, partnerships, and other market related activities. In addition to these players, there are several other important players operating in the automotive smart key market which were analyzed during the course of this market research study, such as, Chevin Fleet Solutions, Franklin Fueling Systems, Gilbarco Inc., Navig8, and Piusi S.p.a. among others.
Multiforce Systems Corporation, OPW Fuel Management Systems, Orpak Systems Ltd., Banlaw, and Syntech Systems, Inc.; – PROMINENT MARKET PARTICIPANTS IN FUEL MANAGEMENT SYSTEM MARKET
The fuel management system market is segmented based on component, function, and end-user. On the basis of component, the fuel management system market is segmented into hardware, Software, and controllers. Based on function, the fuel management system market can be categorized into delivery and storage. Based on the end-user, the global fuel management system market is segmented into Mining, Construction and Ports, Transportation and Logistics, Oil and Gas, and Others. In terms of geography, the fuel management system market is primarily segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America.
The COVID-19 pandemic in Europe has had a diverse impact on various nations, since only a few nations have seen an increase in the number of cases, resulting in stringent, long-term lockdown periods or social isolation standards. Because of their excellent healthcare systems, Western European nations such as Germany, France, Romania, and the United Kingdom have witnessed a comparably slight decline in their growth activities. These countries’ governments have made major investments to improve the efficiency and effectiveness of illness diagnosis and treatment. According to the Centre for Strategic and International Studies, military expenditures in European nations is projected to fall as a result of COVID-19’s worldwide financial crisis, resulting in fewer new transportation and logistics being adopted, affecting the fuel management system industry. According to CSIS, France, the Spain, and Germany pay for a substantial portion of Europe’s overall budget, and these countries are likely to bring down their budget allocations in 2021 due to macroeconomic situations. As a result, the COVID-19 had a significant impact across the European region.
Most of the market initiatives were observed globally, which has a high potential for fuel management system providers. Few of the important market initiatives and product developments from the industry are mentioned below:
| Year | News | Country |
| 2020 | Navig8 Ltd. and Doosan Fuel Cell Co., Ltd. have established a partnership. Doosan and Navig8 will collaborate on the development of a fuel cell solution for the maritime sector. | Global |
| 2019 | Orpak Systems Ltd. has partnered with Enigmatos, a cybersecurity company that focuses on connected vehicles. It will provide Orpak with technological consulting services to improve the security of its fuel management systems. | Global |
