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

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.