Growing awareness of the impact of exhaust emissions, and surging fuel prices have generated a high demand for reduction in fuel consumption. Consequently, this has led to a demand for accurate measuring devices to monitor fuel consumption per engine.
A fuel measuring device is provided with a flow meter, which is attached on a fuel feeding passage extending through an engine. Therefore, a pressure reducing valve for maintaining confluence is provided with a fuel feeding passage and return passage at atmospheric pressure. As a result, the fuel measuring device exhibits high measuring accuracy, is suitable for vehicles, and possesses high security. Out of the product type segment, ultrasonic fuel measuring devices are majorly used for measuring fuel level in vehicle fuel tanks to control fuel consumption.
They show better accuracy than the other two types, due to measurements realized by the ultrasonic radiator installed over the data processing unit and external bottom part of the fuel tank. Depending upon software settings, ultrasonic fuel measuring devices can easily measure levels of petrol, diesel, or other liquid materials.
Growing industrialization and the automotive industry are major factors expected to fuel growth of the global fuel measuring devices market over the forecast period.
Drivers
Simple construction and ease of mounting in fuel tank are factors driving growth of the fuel measuring devices market during the forecast period. Furthermore, improved accuracy to show correct results and the fact that same signal processing units can be used commonly for various types of fuel tanks are expected to fuel growth of the fuel measuring devices market in the same time frame.
Moreover, low pressure drop and exceptional repeatability are advantages that propel growth of the global fuel measuring devices market, and hence, act as drivers for the same. Reduced weight, easy reparability and replacement of internal parts, and additional display computer features – resettable and cumulative are expected to drive the market.
Restraints
The need for skilled labour to accurately measure fuel is expected to be a factor hampering the growth in developing countries, where the labour cost is high and labour is mostly unavailable. Furthermore, the effect of pressure drop sometimes produces inaccurate results, which is expected to hinder growth of the global fuel measuring devices market over the forecast period.
Growing automotive market in countries, such as India and China make the Asia Pacific excluding Japan market as one of the faster growing markets for fuel measuring devices. North America, followed by Europe is expected to show stagnant growth during the forecast period, due to high demand for electric vehicles to curb emissions. Latin America and Middle East and Africa are anticipated to witness healthy growth in the fuel measuring devices market over the forecast period.
Japan, being the hub for electric vehicles is expected to witness a slow growth rate during the forecast period.
Examples of some of the market participants in the global fuel measuring devices market, identified across the value chain are:
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The global fuel measuring devices market can be segmented on the basis of product type, type of arrangement, and application. On the basis of product type, the global fuel measuring devices market is segmented as electronic fuel measuring devices, ultrasonic fuel measuring devices, and electrostatic fuel measuring devices.
On the basis of type of arrangement, the global fuel measuring devices market is segmented as single flow meter system, supply and return flow meter system, and uni-fuel system. On the basis of application, the global fuel measuring device market is segmented as automotive, research centers, industrial tanks, railway tank cars, and liquid storages.
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Fuel Measuring Devices Market
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