The Fuel Dispenser by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Fuel Dispenser, The fuel dispenser market size has grown strongly in recent years. It will grow from $2.54 billion in 2023 to $2.68 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to global economic trends, data and analytics integration, enhanced safety measures, payment system evolution, expansion of fuel stations.
The fuel dispenser market size is expected to see strong growth in the next few years. It will grow to $3.32 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to demand for contactless solutions, regulatory standards and compliance, rise in mobility solutions, expansion of fueling infrastructure, environmental sustainability.. Major trends in the forecast period include adaptability to changing regulations, remote monitoring and management, compatibility with alternative fuels, integration of contactless payment, enhanced user experience.
Rising demand for fuel is expected to propel the growth of the fuel dispenser market going forward. Fuel refers to any material substance that can be used to generate heat or power. Fuel dispensers are employed to pump liquid fuels into a vehicle, aircraft, storage tank, or portable container, such as gasoline, diesel fuel, oil, or kerosene. For instance, in September 2022, according to a report shared by the U.S. Energy Information Administration (EIA), a US-based statistical agency of the Department of Energy, 99.4 million b/d of petroleum and liquid fuels were reportedly consumed globally in August 2022, an increase of 1.6 million b/d from August 2021. It is expected to have an increase in global consumption of 2.0 million b/d on average in 2023. Therefore, the rise in demand for fuel is driving the growth of the fuel dispenser market.
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The fuel dispenser market covered in this report is segmented –
1) By Type: Suction System, Submersible System
2) By Flow Meter Type: Mechanical, Electronic
3) By Application Type: Petrol, Diesel, Biofuel, Other Applications
Major companies operating in the fuel dispenser market are focused on innovative new technologies to sustain their position in the market. For instance, in June 2022, Dover Fueling Solutions (DFS), a US-based developer of fuel dispensing equipment, launched the ProGauge MagLink LX Plus, a next-generation automatic tank gauge (ATG) console. MagLink LX Plus offers a number of significant upgrades, including clever touch and swipe technology, which gives the user an immersive and interactive experience. The MagLink LX Plus is DFS’ most advanced and feature-rich console so far, offering improved scalability, versatility, and connectivity. With intelligent sensors, such as those based on IntelliSense technology, it works effortlessly. The ability to link consoles to forecourt equipment is now even more flexible for site owners, and a single user interface now makes it possible to monitor a wider area.
The fuel dispenser market report table of contents includes:
1. Executive Summary
2. Fuel Dispenser Market Characteristics
3. Fuel Dispenser Market Trends And Strategies
4. Fuel Dispenser Market – Macro Economic Scenario
5. Global Fuel Dispenser Market Size and Growth
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26. South America Fuel Dispenser Market
27. Brazil Fuel Dispenser Market
28. Middle East Fuel Dispenser Market
29. Africa Fuel Dispenser Market
30. Fuel Dispenser Market Competitive Landscape And Company Profiles
Top Major Players:
- Dover Fueling Solutions
- CenStar Energy Corporation
- Zhejiang Lanfeng Machine Co. Ltd
- Neotec Ltd
- Korea EnE Co. Ltd
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