Middle East and Africa Fuel Management System Market to Grow at a CAGR of 7.3% to reach US$ 198.5 million from 2021 to 2028
The Middle East & Africa fuel management system market is expected to reach US$ 198.5 million by 2028 from US$ 121.5 million in 2021; it is estimated to grow at a CAGR of 7.3% from 2021 to 2028.
Theft of fuel is a major problem in the industry. Due to the Middle East & Africa increase in gasoline prices, possible damages, and losses in terms of theft and other malpractices have been observed over the period. Hence, standard processes and effective solutions such as anti-siphoning smart devices and fuel monitoring software need to be implemented to combat gasoline theft. To meet this need, various companies have developed automatic fuel monitoring systems to close the gap. For instance, Aeris partnered with Omnicomm to provide fuel monitoring systems in India in February 2020. The strategic partnership targets fuel theft in various businesses, including construction and locomotives. These platform releases are critical for firms such as the food and pharmaceutical sectors, working relentlessly to avoid inconsistencies. Similarly, Fuel Me launched a cloud-based fuel purchase and roadside help app for commercial transportation and construction industries by offering various roadside assistance services, including the complete fuel procurement process. These advances are necessary for the industry to improve safety, visibility, and sustainability, which, in turn, fuel the growth of the Middle East & Africa fuel management system market
Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait are the main MEA countries that are facing the effects of COVID-19 pandemic. The majority of operations in the region have been suspended due to an increase in the number of cases in the region. In order to deal with the pandemic, countries have been compelled to redirect funds to improve their healthcare infrastructure. However, the demand of new fuel management will continue to grow, as Middle East is hub of several oil manufactures. As a result, the COVID-19 pandemic is somehow, but not limiting the demand development of fuel management system in the Middle East and Africa.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the fuel management system market. The Middle East & Africa fuel management system market is expected to grow at a good CAGR during the forecast period.
Middle East & Africa Fuel Management System Market Revenue and Forecast to 2028 (US$ Million)
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Middle East & Africa Fuel Management System Market Segmentation
By Component
- Software
- Hardware
- Controller
By Function
- Delivery
- Storage
By End User
- Mining
- Construction And Ports
- Transportation & Logistics
- Oil & Gas
- Others
By Country
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Companies Mentioned
- Gilbarco Inc.
- Navig8
- Piusi S.p.A.
- Orpak Systems Ltd.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Fuel Management System Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Middle East & Africa – PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Fuel Management System Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Growing Demand for Monitoring and Controlling Fuel Consumption
5.1.2 Increasing Cases of Fuel Theft
5.2 Key Market Restraints
5.2.1 Concerns Regarding Lack of Skilled Laborers
5.3 Key Market Opportunities
5.3.1 Incorporation of AI
5.4 Future Trends
5.4.1 Real-Time Monitoring
5.5 Impact Analysis of Drivers and Restraints
6. Fuel Management System Market – Middle East & Africa Analysis
6.1 Fuel Management System Market – Middle East & Africa Revenue and Forecast to 2028 (US$ Million)
7. Fuel Management System Market Analysis – By Component
7.1 Overview
7.2 Fuel Management System Market, By Component (2020 and 2028)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Software
7.4.1 Overview
7.4.2 Software: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Controller
7.5.1 Overview
7.5.2 Controller: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
8. Fuel Management System Market – By Function
8.1 Overview
8.2 Fuel Management System Market, by Function (2020 and 2028)
8.3 Delivery
8.3.1 Overview
8.3.2 Delivery: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Storage
8.4.1 Overview
8.4.2 Storage: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
9. Fuel Management System Market – By End- User
9.1 Overview
9.2 Fuel Management System Market, by End- User (2020 and 2028)
9.3 Mining
9.3.1 Overview
9.3.2 Mining: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Construction and Ports
9.4.1 Overview
9.4.2 Construction and Ports: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Transportation and Logistics
9.5.1 Overview
9.5.2 Transportation and Logistics: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Oil and Gas
9.6.1 Overview
9.6.2 Oil and Gas: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Others
9.7.1 Overview
9.7.2 Others: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
10. Fuel Management System Market – Geographic Analysis
10.1 MEA: Fuel Management System Market
10.1.1 MEA: Fuel Management System Market- by Component
10.1.2 MEA: Fuel Management System Market- By Function
10.1.3 MEA: Fuel Management System Market- By End- User
10.1.4 MEA: Fuel Management System Market- by Key Country
10.1.4.1 South Africa: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
10.1.4.1.1 South Africa: Fuel Management System Market- by Component
10.1.4.1.2 South Africa: Fuel Management System Market- By Function
10.1.4.1.3 South Africa: Fuel Management System Market- By End- User
10.1.4.2 Saudi Arabia: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
10.1.4.2.1 Saudi Arabia: Fuel Management System Market- by Component
10.1.4.2.2 Saudi Arabia: Fuel Management System Market- By Function
10.1.4.2.3 Saudi Arabia: Fuel Management System Market- By End- User
10.1.4.3 UAE: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
10.1.4.3.1 UAE: Fuel Management System Market- by Component
10.1.4.3.2 UAE: Fuel Management System Market- By Function
10.1.4.3.3 UAE: Fuel Management System Market- By End- User
10.1.4.4 Rest of MEA: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
10.1.4.4.1 Rest of MEA: Fuel Management System Market- by Component
10.1.4.4.2 Rest of MEA: Fuel Management System Market- By Function
10.1.4.4.3 Rest of MEA: Fuel Management System Market- By End- User
11. Fuel Management System Market- COVID-19 Impact Analysis
11.1 Middle East & Africa
12. Fuel Management System Market-Industry Landscape
12.1 Overview
12.2 Market Initiative
13. Company Profiles
13.1 Gilbarco Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Navig8
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Piusi S.p.A.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Orpak Systems Ltd.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. MEA: Fuel Management System Market- by Component– Revenue and Forecast to 2028 (US$ Million)
Table 2. MEA: Fuel Management System Market- By Function – Revenue and Forecast to 2028 (US$ Million)
Table 3. MEA: Fuel Management System Market- By End- User – Revenue and Forecast to 2028 (US$ Million)
Table 4. South Africa: Fuel Management System Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 5. South Africa: Fuel Management System Market- By Function –Revenue and Forecast to 2028 (US$ Million)
Table 6. South Africa: Fuel Management System Market- By End- User –Revenue and Forecast to 2028 (US$ Million)
Table 7. Saudi Arabia: Fuel Management System Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 8. Saudi Arabia: Fuel Management System Market- By Function –Revenue and Forecast to 2028 (US$ Million)
Table 9. Saudi Arabia: Fuel Management System Market- By End- User –Revenue and Forecast to 2028 (US$ Million)
Table 10. UAE: Fuel Management System Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 11. UAE: Fuel Management System Market- By Function –Revenue and Forecast to 2028 (US$ Million)
Table 12. UAE: Fuel Management System Market- By End- User –Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of MEA: Fuel Management System Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of MEA: Fuel Management System Market- By Function –Revenue and Forecast to 2028 (US$ Million)
Table 15. Rest of MEA: Fuel Management System Market- By End- User –Revenue and Forecast to 2028 (US$ Million)
Table 16. List of Abbreviation
LIST OF FIGURES
Figure 1. Fuel Management System Market Segmentation
Figure 2. Middle East & Africa Fuel Management System Market Overview
Figure 3. Software Segment Held the Largest Market Share in 2020
Figure 4. UAE was the Largest Revenue Contributor in 2020
Figure 5. Middle East & Africa – PEST Analysis
Figure 6. Fuel Management System Market– Ecosystem Analysis
Figure 7. Expert Opinion
Figure 8. Fuel Management System Market: Impact Analysis of Drivers and Restraints
Figure 9. Middle East & Africa Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. Fuel Management System Market Revenue Share, by Component (2020 and 2028)
Figure 11. Hardware: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Software: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Controller: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Fuel Management System Market Revenue Share, by Function (2020 and 2028)
Figure 15. Benchtop Spectroscopes: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Storage: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Fuel Management System Market Revenue Share, by End- User (2020 and 2028)
Figure 18. Mining: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Construction and Ports: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Transportation and Logistics: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Oil and Gas: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Others: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. MEA: Fuel Management System Market – Country Analysis (US$ Million)
Figure 24. MEA: Fuel Management System Market Revenue Share, By Component (2020 and 2028)
Figure 25. MEA: Fuel Management System Market Revenue Share, By Function (2020 and 2028)
Figure 26. MEA: Fuel Management System Market Revenue Share, By End- User (2020 and 2028)
Figure 27. MEA: Fuel Management System Market Revenue Share, By Key Country (2020 and 2028)
Figure 28. South Africa: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Saudi Arabia: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. UAE: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Rest of MEA: Fuel Management System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Impact of COVID-19 Pandemic in Middle East & Africa Country Markets
- Gilbarco Inc.
- Navig8
- Piusi S.p.A.
- Orpak Systems Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
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Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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