Yahoo Finance Fuel Dispenser Market Size to Grow Worth USD 2.97 Billion by 2027 | Fortune Businesses Insights
The global market for fuel dispenser was valued at USD 2.54 billion in 2019. Over the forecast period, this market is expected to experience substantial growth, reaching an estimated USD 2.97 billion by 2027 and expanding at a compound annual growth rate (CAGR) of 5.7%.
Pune, India, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The global fuel dispenser market size is projected to reach USD 2.97 billion by 2027, exhibiting a CAGR of 5.7% during the forecast period. Increasing import and export activities worldwide are set to affect growth positively. This information is published by Fortune Business Insights™ in a new report, titled, “Fuel Dispenser Market Size, Share & COVID-19 Analysis, By Fuel Type (Petrol/Gasoline, Diesel, CNG, and Others), By Dispenser System (Submersible System and Suction System), By Flow Meter (Mechanical and Electronic), and Regional Forecast, 2020-2027.”
Industry Developments:
May 2020: Repos Energy, a Pune-based company is planning to develop and distribute around 3,200 mobile petrol pumps by the end of this year. It also declared its decision to bring approximately 1,200 operators in 2020-21 from across the country.
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Report Highlights:
Report Coverage | Details |
Forecast Period | 2019-2027 |
Forecast Period 2019 to 2027 CAGR | 5.7% |
2027 Value Projection | USD 2.97 billion |
Base Year | 2019 |
Market Size in 2018 | USD 2.54 billion |
Historical Data for | 2016-2018 |
No. of Pages | 165 |
Segments covered | Fuel Type, By End-User, Application and Region |
Growth Drivers | Increasing Adoption of Polycrystalline Diamond Compact Drill Bits to Boost Growth |
Petrol/Gasoline Segment to Hold 34.8% Share and Dominate Market |
Drivers & Restraints-
Rising Demand for Dual Fuel or Multi-Fuel Vehicles to Aid Growth
Nowadays, the adoption of dual fuel or multi-fuel vehicles is increasing across the globe because of their possession of several beneficial properties. They are capable of lowering emissions in the atmosphere and enhancing the thermal efficiencies of internal combustion engines. They can also operate interchangeably on natural gas with a 100% diesel fuel. This factor is set to accelerate the fuel dispenser market growth in the forthcoming years. However, the number of awareness programs to educate people about the harmful effects of conventional fuel vehicles on the environment may hamper the demand for fuel dispensers.
COVID-19 Pandemic to Impact Growth Backed by Declining Demand for Natural Gas
The COVID-19 pandemic is taking a toll on the oil and gas industry across the globe. These products are extensively used in power generation plants and transportation sectors. But, shutdown of businesses, stringent lockdown measures, and reduction in domestic and international travels are declining the demand for natural gas from these industries. Our elaborate research reports would help you in getting a clear picture of the current scenario.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/fuel-dispensers-market-100431
Segment-
Petrol/Gasoline Segment to Hold 34.8% Share and Dominate Market
Based on fuel type, the petrol/gasoline segment generated 34.8% in terms of fuel dispenser market share in 2019. It would retain its dominant position throughout the forthcoming years stoked by the increasing demand for fuel dispensers from commercial and residential sectors.
Regional Analysis-
Rising Demand for Natural Gas Vehicles to Spur Growth in Asia Pacific
Geographically, in 2019, Asia Pacific earned USD 1.05 billion in terms of revenue. This growth is attributable to the increasing demand for natural gas vehicles (NGVs) in this region. Also, developing economies, such as India and China are focusing on preventing the environment from the adverse effects of vehicle emissions. This would also bolster the demand for fuel dispensers in this region.
North America, on the other hand, is set to remain in the second position in terms of revenue backed by the rising sale of new vehicles. Besides, the increasing number of CNG stations would propel the demand for fuel dispensers in this region in the near future. Lastly, the European Union is planning to invest around USD 179.17 million to develop new CNG stations in the region.
Competitive Landscape-
Key Players Focus on Partnership Strategy to Co-develop New Products
The market for fuel dispensers is consolidated because of the possession of robust distribution networks and enhanced product portfolios of top companies. Some of them are engaging in the partnership strategy to co-create new fuel dispensers. The others are focusing on rolling out new mobile pumps to cater to the growing demand for fuel dispensers.
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Below are the two latest industry developments:
February 2020: Dover Fueling Solutions (DFS) joined hands with Shell to co-develop and install Self-Checkout Kiosks across the latter’s fueling stations in the Netherlands to enhance the purchasing experience and reduce queues.
This Report Answers the Following Questions:
What are the market dynamics, growth drivers, and obstacles?
Which region is anticipated to lead in terms of revenue?
How will key players elevate sales of fuel dispensers in the coming years?
What are the current, upcoming, and historical sizes of the market?
A list of all the renowned fuel dispenser providers operating in the global market:
Gilbarco (North Carolina, US)
Wayne Fueling Systems (Texas, US)
Tatsuno Corporation (Tokyo, Japan)
Tokheim (Dundee, Scotland)
Censtar Science and Technology Corporation (Zhengzhou city, China)
Zhejiang Datian Machine Co., Ltd (WENZHOU, ZHEJIANG)
Bennett Pump (Michigan, US)
Dover Fueling Solutions (Texas, US)
Scheidt and Bachmann (Mönchengladbach, Germany)
Neotec (Athens, Greece)
Beijing Sanki Petroleum Technology Co.,Ltd. (Beijing, China)
Shenzhen Kaisai Electric Motor Co., Ltd. (Shenzhen, China)
Piusi S.p.A. (Suzzara, Mantova)
Zhejiang Lanfeng Machine Co. Ltd (Zhejiang, China)
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Table of Contents:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Emerging Trends – For Major Countries
Latest Technological Advancement
Regulatory Landscape
Industry SWOT Analysis
Porters Five Forces Analysis
Qualitative Analysis – Impact of COVID-19
Impact of COVID-19 on the Fuel Dispenser Market
Steps Taken by the Government to Overcome the Impact
Key Developments by Industry Players in Response to COVID-19
Potential Opportunities and Challenges due to COVID-19 Outbreak
Global Fuel Dispenser Market Analysis (USD Billion), Insights and Forecast, 2016-2027
Key Findings / Summary
Market Analysis, Insights and Forecast – By Fuel Type
Petrol/Gasoline
Diesel
CNG
Others
Market Analysis, Insights and Forecast – By Dispenser Systems
Submersible Systems
Suction Systems
Market Analysis, Insights and Forecast – By Flow Meter
Mechanical
Electronic
Market Analysis, Insights and Forecast – By Region
North America
Latin America
Europe
Asia Pacific
Middle East and Africa
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