Rising demand for petroleum and CNG products in developing economies and the rapid growth of dual fuel or hybrid vehicles are likely to propel the fuel dispenser market during the forecast period.
According to TechSci Research report, “Fuel Dispenser Market – Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018–2028,” the global fuel dispenser market is undergoing significant growth during the forecast period. Raising awareness of biofuels between the general population increases market growth. To foster the use of hydrogen and compressed natural gas-fueled automobiles, governments in both developed and developing countries are employing beneficial policies and offering subsidies are the key market driving factors for enhancing market growth.
Moreover, substantial growth in the automotive industry across the globe is one of the key factors forming a positive outlook for the market. Moreover, increasing awareness among the various countries regarding biofuels is providing momentum to market growth. Governments of both developed and developing countries are employing beneficial policies and posing subsidies to foster the utilization of hydrogen and CNG (Compressed Natural Gas) fueled automobiles. Additionally, various technological advancements, such as the development of electronic embedded dispensing systems, are acting as other growth-inducing factors. Equipment manufacturers are also integrating innovative artificial intelligence (AI), machine learning (ML), cloud and the Internet of Things (IoT) based platforms to provide smart retail management solutions to consumers. Other factors, including the rising expenditure capacities of the consumers, along with extensive infrastructural developments, are anticipated to drive the market toward growth.
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Global fuel dispenser market is segmented into fuel type, dispenser system, flow meter, application and region. Based on fuel type, the market is segmented into petroleum fuels, compressed fuels, biofuels, and others. Based on dispenser system, the market is segmented into submersible and suction. Based on flow meter, the market is segmented mechanical & electronics. Based on application, the market is segmented into Petrol, diesel, biofuel, and others. Based on region, the market is segmented into Europe, North America, Asia-Pacific, South America, Middle East & Africa.
Based on dispenser system, submersible is dominated in the global fuel dispenser market in 2022 because a submersible system segment would be determined by low maintenance, installation, and service costs owing to its single pressure outlet connecting the dispensing units in the refilling station. These factors would drive a submersible system segment in the near future. Based on application, petrol segment dominated in the global fuel dispenser market in 2022 and is projected to be the fastest growing segment during the forecast period because industrial and commercial energy demand is rising, petrol and gasoline are used due to their extensive application in locomotives, mechanical engines, automobiles, power generators, mobile drives, construction equipment, and many other industrial applications. Hence, rising applications of petrol for fuel dispenser positively impacts the market growth.
Based on flow meter, electronics segment dominated in the global fuel dispenser market in 2022 owing to the increase in demand for electric fuel dispenser ascribed to the advantages such as reliability, performance and high accuracy, as compared to mechanical fuel dispenser. In addition, technological advancements in fuel dispenser technologies such as online payments, printing, digital measurement, and automated fuel dispensing systems are predictable to drive the increasing of the electronics fuel dispenser market during the evaluated time period.
Based on region, Asia-pacific dominated in the global fuel dispenser market in 2022 and is anticipated to maintain its dominance during the forecast period. This is ascribed to the significant number of major customers, players, and accessibility of manufacturing advantages in developing countries. Additionally, growth in industrialization and urbanization in countries such as India, China have led to foster in requirement for fuels, which further leads development of the global fuel dispenser market in the region.
Major market players operating in the global fuel dispenser market are:
- Dover Fueling Solutions
- Gilbarco Inc
- Tatsuno Corporation
- Scheidt & Bachmann Tubs d.o.o.
- Bennett Pump Company
- NEOTEC
- Piusi SpA
- Lanfeng Technology Inc.
- Tominaga Mfg Co.
- Censtar Science & Technology Corp., Ltd.
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“Due to the growing consumer demands, fuel retailers in the present industry landscape are increasingly concentrating on growing sales and refining customer retention by providing a continuous digital and physical experience by steadily shifting from conservative models. Digital modernizations in the fuel marketing field will play a key role in making the development of the market during the projection tenure.
Additionally, as automated fuel dispensers continue to increase popularity across the world, fuel dispenser manufacturers are estimated to focus on turning out advanced solutions in sequence with industrial trends. Hence due to these factors, along with the exponential expansion in the utilization of conventional as well as alternative fuels, the fuel dispenser market is projected to increase during the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Fuel Dispenser Market – Global Industry Size, Share, Trends, Opportunities, and Forecast 2018-2028. Segmented By Fuel Type (Petroleum Fuels, Compressed Fuels, Biofuels, Others), By Dispenser System (Submersible and Suction), By Flow Meter (Mechanical & Electronics), By Application (Petrol, Diesel, Biofuel, Others), By Region and Competition has evaluated the future growth potential of global Fuel Dispenser market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global fuel dispenser market.
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