28-Feb-2020 | Facts and Factors
Facts and Factors report “Fuel Dispenser Market By Type (Submersible Systems and Suction Systems), Flow Meter (Mechanical and Electronic) and By Application (Petrol, Diesel, CNG, Biofuel, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Fuel Dispenser Market in 2019 was approximately USD 2,300 Million. The market is expected to grow at a CAGR of 2.5% and is anticipated to reach around USD 2,700 Million by 2026.
Fuel dispenser facilitates the refilling of various types of fuels into vehicles. With the help of fuel dispenser, the fuel is pumped into the vehicle, storage tanks, and portable containers. This dispenser ensures the accurate amount of fuel is pumped. Fuel dispensers are used to petrol, pump gasoline, diesel, ethanol fuel, LPG, CNG, and biofuels like kerosene and biodiesel into vehicles.
Browse the full “Fuel Dispenser Market By Type (Submersible Systems and Suction Systems), Flow Meter (Mechanical and Electronic) and By Application (Petrol, Diesel, CNG, Biofuel, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/fuel-dispenser-market-by-type-submersible-systems-and-545
The surging automotive industry is one of the key factors driving the global fuel dispenser market. With the growing population across the globe, the number of vehicles is also increasing coupled with the rising disposable income and changing lifestyle of the consumers. In 2018, it has been observed that the automotive industry manufactured around96 million vehicles including two-wheelers, three-wheelers, passenger vehicles, and commercial vehicles. Therefore, this is projected to boost the consumption of fuels, thereby, propelling fuel dispenser market growth. Moreover, in the last few years, the travel & tourism industry is growing significantly which has further increased the demand for transportation services. Consequently, this, in turn, has boosted the demand for fuel and thus, fuel stations. However, the growing popularity of electric vehicles is likely to hamper the fuel dispenser market. Conversely, the manufacturers are introducing new advanced fuel dispensers that have a scanner, interactive video screen, customer identification keypad, barcoding, and magnetic card terminal. Hence, this is further predicted to offer huge opportunities for market growth.
Owing to low maintenance cost, low installation cost and high-efficiency submersible systems are widely used type of fuel dispenser as compared to suction systems. In 2019, submersible systems accounted for the largest share of more than 75% of the global fuel dispenser market. Additionally, suction systems are efficient and easy to use but have high installation costs and maintenance costs. Among the flow meters, electronic flow meters are widely used owing to its high stability, high accuracy, and reliability. The consumption of petrol is increasing rapidly with the growing number of vehicles such as two-wheeler, three-wheelers, and cars are further estimated to enhance the need for fuel dispensers.
Geographically, the Asia Pacific dominated the global fuel dispenser market. The region accounted for more than 45% of the market share and is expected to grow significantly during the forecast period as well. The growing population and urbanization are the major factors impacting the fuel dispenser market within the region. Additionally, India and China are the major consumers of fuel dispensers owing to the presence of a large number of vehicles in the countries. Moreover, the European market is anticipated to grow considerably owing to the rapidly surging automotive industry in the region.
Some of the major players operating in the global fuel dispenser market are Gilbarco, Wayne Fueling Systems LLC, Tokhein Group, Tatsuno Corp., Scheidt& Bachmann GmbH, TominagaMfg, Neotec, Bennett Pump, Piusi S.p.A., and Beijing Sanki Petroleum Technology Co. Ltd., among others.
This report segments the fuel dispenser market as follows:
Global Fuel Dispenser Market: By Type Segmentation Analysis
Global Fuel Dispenser Market: By Flow Meter Segmentation Analysis
Global Fuel Dispenser Market: By Application Segmentation Analysis
Global Fuel Dispenser Market: Regional Segmentation Analysis
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