Global Fuel Dispenser Market

Fuel Dispenser Market Size, Share, Growth Analysis, By Fuel Type(Petrol/Gasoline, Diesel, CNG, Others), By Dispenser System(Systems, Suction Systems), By Flow Meter(Mechanical, Electronic), By Region - Industry Forecast 2024-2031


Report ID: SQMIG10B2018 | Region: Global | Published Date: July, 2001
Pages: 157 |Tables: 89 |Figures: 76

Fuel Dispenser Market Insights

Fuel Dispenser Market size was valued at USD 2.66 billion in 2019 and is poised to grow from USD 2.8 billion in 2023 to USD 4.5 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).

Different fuels, including gasoline, diesel, ethanol fuel, kerosene, biofuels, and natural gas, can be dispensed using a fuel dispenser into vehicles, aeroplanes, storage tanks, and portable containers. It is made up of many mechanical and electronic parts, such as hydraulics, display metres, hoses, pumps, valves and nozzles. A pivot valve ensures that the fuel flows smoothly through the dispenser when it is drawn from the storage tank by the rotary pump in the hydraulic section. It also guarantees that the right quantity of fuel is supplied into the tank of the vehicle. One of the main elements fostering a favourable outlook for the market is the significant expansion the automobile industry has experienced globally. Moreover, the general public's growing awareness of biofuels is boosting the market's expansion. The use of hydrogen and compressed natural gas (CNG)-fueled automobiles is being encouraged by governments in both established and emerging countries, who are enacting favourable regulations and providing subsidies. As per data from NACS, the association for convenience and fuel retailing, there are more than 145,000 fueling stations across the United States. Other growth-promoting aspects include a number of technological developments, such as the creation of electronic integrated dispensing systems. In order to offer consumers smart retail management solutions, equipment manufacturers are incorporating cutting-edge AI, ML, cloud, and Internet of Things (IoT)-based platforms. It is projected that further factors, such as increased consumer spending power and significant infrastructure improvements will propel the market toward expansion. However, increased awareness, supported by government initiatives is making more people adopt electric vehicles which are predicted to be hampering this market

US Fuel Dispenser Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 2.66 billion

Largest Segment

Submersible Systems

Fastest Growth

Submersible Systems

Growth Rate

5.4% CAGR

Global Fuel Dispenser Market ($ Bn)
Country Share for Asia Pacifc Region (%)

To get more reports on the above market click here to Buy The Report

Fuel Dispenser Market Segmental Analysis

The global fuel dispenser market is segmented based on fuel type, dispenser system, flow meter and region. Based on the fuel type, the global fuel dispenser market is segmented into petrol/gasoline, diesel, CNG, and others. Based on the dispenser system, the global fuel dispenser market is segmented into submersible systems and suction systems. Based on the flow meter, the Fuel Dispenser Market is divided into mechanical and electronic. Based on region, it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.

Fuel Dispenser Market Analysis by Fuel Type

The market is divided into categories of diesel, CNG, and other fuel types. The petrol/gasoline sector dominated the market due to the rising energy demand from industrial and commercial applications. It is primarily supplied by gasoline/petrol. Due to its extensive use in mechanical engines, power generators, mobile drives, locomotives, construction equipment, automobiles, and several other industrial applications, the diesel category is predicted to hold the second-largest market share. Due to rising environmental concerns and significant price volatility in the oil market, the CNG segment is also expected to have a significant market share for fuel dispensers. High auto-ignition temperature, low operating costs, and minimal lubrication would all be produced by the use of CNG. It is also more environmentally friendly and safer than gasoline and diesel. The other section contains kerosene, methanol, and biodiesel. Due to the growing use of biodiesel and kerosene in the transportation and aviation industries, it is expected to rise steadily.

Fuel Dispenser Market Analysis by Dispenser System

The market is segmented into suction systems and submersible systems based on the dispenser system. As installation, upkeep, and service costs are lower for submersible systems, they have a bigger market share. A single pressure outlet linking the gasoline distribution devices in the refilling station is part of an underground fuel tank. In the near future, these variables will propel the submersible system market.

Fuel Dispenser Market Analysis by Flow Meter

The market is divided into mechanical and electronic segments based on flow metres. Mechanical flow metres lack the accuracy, stability, and dependability of electronic flow metres. As a result, during the anticipated term, the electronic flow metre segment's growth would accelerate. Mechanical flow metres, on the other hand, are an outmoded technology since they rely on moving elements to monitor the flow of liquid or gas through the pipes.

Global Fuel Dispenser Market By Dispenser System, 2023 (%)

To get detailed analysis on other segments, Request For Free Sample Report

Fuel Dispenser Market Regional Insights

The fuel dispenser market is dominated by the Asia Pacific region followed by North America, Europe, Middle East Africa and Latin America Region. In the Asia Pacific region, China, India, and other developing nations are concentrating on removing the harmful environmental consequences of car emissions while raising the price of gasoline, which will contribute to the rise in demand for natural gas automobiles (NGVs) which will eventually support the fuel dispenser market. For instance, Volkswagen signed a contract in 2017 to enhance the use of CNG in Europe, with a goal of selling 1 million CNG cars by 2025 and increasing the number of CNG filling stations from 900 to 2,000.

North America accounts for the second-largest global share of the market. According to predictions made by the auto industry, the number of new vehicles sold in the United States will increase and reach 16.7 million to 17.1 million units. The expansion of the market would be aided by the rising number of CNG stations. To build and maintain a CNG filling station close to the Port of Savannah in Georgia by 2021, Chesapeake Utilities Corporation and Atlanta Gas Light (AGL), a fully owned subsidiary of Southern Company Gas, inked a contract in August 2020.

Natural gas is the most environmentally friendly fuel, hence natural gas automobiles are widely used in Europe. There are 868, 1044, 176, 235, and 207 CNG stations in the region's countries of Germany, Italy, the Netherlands, Russia, and Ukraine, respectively. The use of natural gas automobiles will be crucial in reducing carbon emissions by 30% by 2030. For this reason, the European Union is spending USD 179.17 million to build CNG stations. These elements are responsible for the anticipated market expansion in this area.

Due to the Middle East and Africa's involvement in the oil industry, which involves oil transportation, these two regions are also expected to have significant market expansion. In the ensuing years, it would also contribute to rising demand for fuel dispensers. The demand for these dispensers in Latin America would be driven by the region's expanding use of natural gas automobiles and the growth of refuelling infrastructure.

Global Fuel Dispenser Market By Region, 2024-2031
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Fuel Dispenser Market Dynamics

Fuel Dispenser Market Driver

  • Increased adoption of Dual Fuel or Multi-Fuel Vehicles to Accelerate Demand for Fuel Dispensers

In addition to lowering pollutants, dual fuel vehicles improve the thermal efficiency of internal combustion engines. It provides a fix for inefficient engines and reduces emissions from single-fuel vehicles. Dual-fuel vehicles are made to run interchangeably on either 100 % diesel fuel or natural gas with a diesel pilot. People could switch to electric cars and other alternative technologies once petroleum products are depleted. Therefore, the market's expansion during the projection period would be driven by the rising use of dual fuel or multi-fuel cars.

  • Rising Fuel Dispenser Technological Advancements to Drive Market Growth

Fuel dispensers with cutting-edge technology would help to accelerate market expansion. More vehicles can be fueled at once thanks to advanced fuel dispensers. To provide more accurate and dependable metering and refilling, it has a scanner, customer identity keypad, video screen, barcoding, and magnetic card terminal. In order to enhance the client experience, major firms are also developing better and more sophisticated goods, such as fuel dispensers that can be customised. Therefore, during the anticipated period, technologically enhanced dispensers are expected to boost market expansion.

Fuel Dispenser Market Restraint

  • Growing Adoption of Electric Vehicle to Slow Market Growth

The environmental effects of conventional fuel vehicles and rising gasoline prices have made people more aware of the benefits of switching to electric automobiles. A rule has been established in Europe to reduce carbon emissions from light commercial vehicles by 15% by 2025. Therefore, strict regulatory requirements would constrain market expansion and increase awareness campaigns for embracing electric vehicles.

Request Free Customization of this report to help us to meet your business objectives.

Fuel Dispenser Market Competitive Landscape

The market is consolidated because of the impressive distribution networks and robust product portfolios of leading corporations in developed and developing nations. Current market leaders Gilbarco Veeder-Root, Wayne Fueling Systems, LLC, Tatsuno Corporation, and Tokheim hold a commanding position, contributing to the industry's strong expansion by 2028. By including cutting-edge features in their dispensers, other significant firms including Korea EnE Co., Ltd., Censtar, Lumen Instruments, Hongyang Group Co., Ltd., and other small businesses have joined the competition. To increase their revenue, businesses are concentrating on mergers and acquisitions. For instance, Gilbarco Veeder-Root and Midco Limited inked a purchase agreement in June 2019. The latter creates and produces fuel dispensers and associated gas station gear. Hence,.

Top Players in the Global Fuel Dispenser Market

  • Gilbarco
  • Wayne Fueling Systems
  • Tokheim Group S.A.S.
  • Tatsuno Corporation
  • Bennett Pump Company
  • Scheidt & Bachmann GmbH
  • Piusi S.p.A.
  • Zhejiang Datian Machine Co., Ltd.
  • Korea EnE Co., Ltd.
  • Dover Corporation
  • Beijing Sanki Petroleum Technology Co., Ltd.
  • Censtar Science & Technology Corp., Ltd.
  • Tominaga Mfg. Co.
  • Jiangsu Henghe Petroleum Machinery Co., Ltd.
  • Neotec Corporation
  • PECO Facet Inc.
  • Sanki Petro Equipment Co., Ltd.
  • S.M. EnergyTek Inc.
  • Fisum International B.V.
  • Lanfeng Machine Co., Ltd.

Fuel Dispenser Market Recent Developments

  • In July 2022, Dover Fueling Solutions, a part of Dover Corporation and a leading global provider of advanced customer-focused technologies, services and solutions in the fuel and convenience retail industries, launched its first hydrogen dispenser.
  • In April 2021, Shell awarded a contract to Dover Fuelling Solution (DFS) for the supply of its site automation using Tokheim Fuel POS. The contract calls for a demonstration of the Tokheim Fuel POS point-of-sale system, which includes a simple touchscreen user interface and can connect to a variety of additional systems, such as payment processors, CCTV, EV charging stations, and dispensers.
  • In February 2021, Pyramid Computer GmBH and Scheidt & Bachmann GmBH joined forces to promote self-checkout options at fuel retail locations. This includes implementing cutting-edge kiosk systems and enhancing customer experience by reducing wait times.

Fuel Dispenser Key Market Trends

  • A noticeable trend in the automotive industry is the rising use of affordable alternative fuels. The rise in alternative fuel use in the automotive industry for cost-effectiveness, fuel economy, and emission control is primarily responsible for the industry's expansion. As they are less expensive and less volatile than petroleum products, CNG and LPG cars are expanding quickly in developing nations. CNG and LPG-powered vehicles are seen as environmentally friendly alternatives to those powered by petroleum. For the fifth straight year, according to Bloomberg 2020 data, automakers sold more than 17 million automobiles in the United States in 2019. Additionally, it was initially anticipated that 2019 new car sales would range from 16.7 million to 16.9 million units. Since the automobile industry is expected to develop as a result of the estimated sales targets being met, the need for these dispensers is expected to rise in the years to come.

Fuel Dispenser Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global fuel dispenser market analysis, increased adoption of dual fuel or multi-fuel vehicles, rising fuel dispenser technological and increased trade activities are some major factors driving the growth of the global fuel dispenser market.

Report Metric Details
Market size value in 2023 USD 2.66 billion
Market size value in 2031 USD 4.5 billion
Growth Rate 5.4%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Fuel Type
    • Petrol/Gasoline, Diesel, CNG, Others
  • Dispenser System
    • Systems, Suction Systems
  • Flow Meter
    • Mechanical, Electronic
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Gilbarco
  • Wayne Fueling Systems
  • Tokheim Group S.A.S.
  • Tatsuno Corporation
  • Bennett Pump Company
  • Scheidt & Bachmann GmbH
  • Piusi S.p.A.
  • Zhejiang Datian Machine Co., Ltd.
  • Korea EnE Co., Ltd.
  • Dover Corporation
  • Beijing Sanki Petroleum Technology Co., Ltd.
  • Censtar Science & Technology Corp., Ltd.
  • Tominaga Mfg. Co.
  • Jiangsu Henghe Petroleum Machinery Co., Ltd.
  • Neotec Corporation
  • PECO Facet Inc.
  • Sanki Petro Equipment Co., Ltd.
  • S.M. EnergyTek Inc.
  • Fisum International B.V.
  • Lanfeng Machine Co., Ltd.
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Fuel Dispenser Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Fuel Dispenser Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Fuel Dispenser Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fuel Dispenser Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fuel Dispenser Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Fuel Dispenser Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Fuel Dispenser Market size was valued at USD 2.66 billion in 2019 and is poised to grow from USD 2.8 billion in 2023 to USD 4.5 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).

The market is consolidated because of the impressive distribution networks and robust product portfolios of leading corporations in developed and developing nations. Current market leaders Gilbarco Veeder-Root, Wayne Fueling Systems, LLC, Tatsuno Corporation, and Tokheim hold a commanding position, contributing to the industry's strong expansion by 2028. By including cutting-edge features in their dispensers, other significant firms including Korea EnE Co., Ltd., Censtar, Lumen Instruments, Hongyang Group Co., Ltd., and other small businesses have joined the competition. To increase their revenue, businesses are concentrating on mergers and acquisitions. For instance, Gilbarco Veeder-Root and Midco Limited inked a purchase agreement in June 2019. The latter creates and produces fuel dispensers and associated gas station gear. Hence,. 'Gilbarco', 'Wayne Fueling Systems', 'Tokheim Group S.A.S.', 'Tatsuno Corporation ', 'Bennett Pump Company', 'Scheidt & Bachmann GmbH', 'Piusi S.p.A.', 'Zhejiang Datian Machine Co., Ltd.', 'Korea EnE Co., Ltd.', 'Dover Corporation', 'Beijing Sanki Petroleum Technology Co., Ltd.', 'Censtar Science & Technology Corp., Ltd.', 'Tominaga Mfg. Co.', 'Jiangsu Henghe Petroleum Machinery Co., Ltd.', 'Neotec Corporation', 'PECO Facet Inc.', 'Sanki Petro Equipment Co., Ltd.', 'S.M. EnergyTek Inc.', 'Fisum International B.V.', 'Lanfeng Machine Co., Ltd.'

Increased adoption of Dual Fuel or Multi-Fuel Vehicles to Accelerate Demand for Fuel Dispensers

A noticeable trend in the automotive industry is the rising use of affordable alternative fuels. The rise in alternative fuel use in the automotive industry for cost-effectiveness, fuel economy, and emission control is primarily responsible for the industry's expansion. As they are less expensive and less volatile than petroleum products, CNG and LPG cars are expanding quickly in developing nations. CNG and LPG-powered vehicles are seen as environmentally friendly alternatives to those powered by petroleum. For the fifth straight year, according to Bloomberg 2020 data, automakers sold more than 17 million automobiles in the United States in 2019. Additionally, it was initially anticipated that 2019 new car sales would range from 16.7 million to 16.9 million units. Since the automobile industry is expected to develop as a result of the estimated sales targets being met, the need for these dispensers is expected to rise in the years to come.

The fuel dispenser market is dominated by the Asia Pacific region followed by North America, Europe, Middle East Africa and Latin America Region. In the Asia Pacific region, China, India, and other developing nations are concentrating on removing the harmful environmental consequences of car emissions while raising the price of gasoline, which will contribute to the rise in demand for natural gas automobiles (NGVs) which will eventually support the fuel dispenser market. For instance, Volkswagen signed a contract in 2017 to enhance the use of CNG in Europe, with a goal of selling 1 million CNG cars by 2025 and increasing the number of CNG filling stations from 900 to 2,000.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Fuel Dispenser Market

Product ID: SQMIG10B2018

$5,300
BUY NOW GET FREE SAMPLE