FuelDispenser Market: Introduction
In terms ofvalue, the global fuel dispenser market is expectedto reach ~US$2 Bn by 2030, expandingat a CAGR of ~4% during the forecast period.Based on volume, the global fuel dispenser market is estimated to reach 662,058 unitsby 2030, expandingat a CAGR of ~4% during the forecast period. Interms of type, the submersible system segment holds leading share of the globalfuel dispenser market, submersible systems are cheaper and easily availablevis-à-vis suction systems. Their maintenance cost is also lower than that ofsuction systems. The submersible system segment is expected to create anincremental opportunity of US$ 473.16 Mn between 2020 and 2030. Basedon flow meter segment, the electronic flow meter held larger share of theglobal fuel dispenser market in 2019. Thesegment is likely to expand at a CAGR of 4.50% duringthe forecast period. In terms of fuel type, the petrol/gasoline segmentaccounted for major share of the global fuel dispenser market in 2019.
The fueldispenser market in Asia Pacific is estimated to expand at a substantial paceduring the forecast period, owing to the rise in standard of living of thepeople, increase in disposable income of consumers, and growth in population inthe region.
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Key Drivers of Fuel DispenserMarket
Theincrease in the adoption of dual fuel and multi-fuel vehicles is expected todrive the global fuel dispenser market during the forecast period. The shiftingtrend from single fuel to dual fuel or multi-fuel vehicles in developingcountries is boosting the demand for vehicle fuel stations. Furthermore,increase in disposable income has led to a rise in vehicle ownership. This ispropelling the demand for fuel dispensers across the globe. The rise in sale ofnatural gas vehicles (NGVs) is estimated to propel the global fuel dispensersmarket. The demand for gasoline-based products is expected to risesignificantly during the forecast period. This is projected to create lucrativeopportunities for the global fuel dispenser market. Moreover, increase ingovernment initiatives and policies such as trade liberalization programs isalso likely to propel the demand for fuel dispensers in the near future.
Asia Pacific Offers LucrativeOpportunities to Fuel Dispenser Market
AsiaPacific dominated the global fuel dispenser market in 2019, owingto the significant demand for fuel in the region. The development of supportiveinfrastructure, such as refueling stations, and rise in demand for automobilesare expected to drive the fuel dispenser market in the region during theforecast period. The growth in penetration of the fuel dispenser technology inmajor countries such as China, Japan, and India is also projected to boost thefuel dispenser market in the region during the forecast period.
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Major Developments in FuelDispenser Market
In June2019, Dover Fueling Solutions (DFS), a part of Dover that isengaged in delivering advanced fuel dispensing equipment, announced the launchof its new Tokheim Quantium 510M fuel dispenser series. This range of fueldispensers is the next generation of the acclaimed Quantium fuel dispenserfamily. In December 2019, the Massachusetts BayTransportation Authority (MBTA) announced approval of a new contract withScheidt & Bachmann to extend the life of the existing fare managementsystem and incorporate new customer-oriented improvements through a series ofupgrades. The new contract is part of the MBTA's transformation strategydeveloped for a new fare management system that will be introduced in phasesand with additional opportunities for public feedback.
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Competition Landscape of FuelDispenser Market
The marketdynamics are dependent on long-term contracts, goodwill of companies, andproduct portfolio. Local manufacturers with integrated operations possesscompetitive advantages due to the easy access to low-cost raw materials andprotection from volatility in prices of raw materials. Key players operating inthe global fuel dispenser market are Beijing Sanki Petroleum Technology Co. Ltd., Bennett Pump CompanyGilbarco Inc., Korea EnE Co. Ltd., Neotec, Piusi S.p.A., Scheidt & BachmannGmbH, Tatsuno Corporation, Tokheim Group S.A.S, Tominaga Mfg. Co., WayneFueling Systems LLC, and Zhejiang Lanfeng Machine Co. Ltd.
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