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

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.