The global market for fuel dispenser can expect to achieve a valuation of USD 2,661 million by 2025, says Market Research Future (MRFR). The market is also anticipated to record a growth rate of approximately 5.40% during the forecast period (2019 to 2025).
Market Boosters and Key Barriers
Over the years, the market for fuel dispenser has amassed a lot of attention, given the mushrooming chain of petrol stations all over the world. With the alarming surge in vehicular travel, the demand for fuel dispenser has skyrocketed, and it will only increase in the near future. The rising consumption of petroleum products combined with the quick adoption rate of natural gas vehicles, especially in the emerging countries can induce market growth in subsequent years.
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With the proliferation of zealous players, the market is bound to witness strong growth in the forthcoming years. Mounting demand for natural gas vehicles (NGV) is prompting renowned automotive OEMs to sharpen their focus on NGV manufacturing as well as design. Countries all over the world are also adopting numerous initiatives to elevate the implementation of green transportation such as NGV.
Soaring demand for fuel dispensers is also reinforced by the negative impact on the environment brought on by vehicle emissions. Further motivation for the market comes from the rising sales of vehicles, mostly in developing countries such as India. Other than this, high demand for petroleum-based products can give rise to a number of lucrative opportunities for the market.
The worldwide market for fuel dispenser has been segmented with regard to product, type, and application.
The global fuel dispenser market, depending on the product, has been considered for self-service fuel dispenser and general fuel dispenser. In 2018, the market was dominated by the general fuel dispenser segment, and it can retain its dominance even during the forecast period. General fuel dispensers are the basic dispensers that are mainly used at filling stations and are operated by attendants. The general fuel dispensers market is thriving in the Asia Pacific region, primarily owing to the surging rate of urbanization in India and China. Also, the expansive middle-class population with preference for its own vehicles, also stimulates the growth of the general fuel dispenser market.
Given the type segment, the market can be divided into suction and submersible. Out of these, the submersible segment controls the largest part of the market, trailed by the suction segment. Submersible pressure pumps enjoy massive demand, owing to the lower cost of maintenance, service and installation costs compared to the alternative. This has led to the strong growth of the submersible segment in the fuel dispenser market. Further, submersible pumps are user-friendly which augments their demand in filling stations.
With respect to application, the global fuel dispenser market includes biofuel, diesel, petrol, and others. In the year 2018, the petrol segment led the global market and is projected to maintain its lead throughout the review period. Fuel dispenser for pumping gasoline is very much in demand since gasoline is a highly common transportation fuel.
The region-based market segments for fuel dispenser are Europe, North America, Asia Pacific (APAC), and the rest of the world (RoW).
APAC can advance to the top position in the global fuel dispenser market during the appraisal period. Fast-paced urbanization in the region has led to massive demand for passenger vehicles. The thriving automotive industry in countries like India, China and Japan also works in favor of the regional market. China is touted to be the largest market for fuel dispensers in the region, given the favorable surge in the automotive and transportation industries. The fuel dispenser market in the country is generally concentrated, because of the presence of giants like Zhejiang Datian Machine Co., Ltd and Censter Science & Technology Corp., Ltd.
The RoW market, which is made of regions like the Middle East & Africa (MEA) and Latin America, can note entry of new vendors in the following years. The already established players are expected to work on expanding their sales networks in the region, which is bound to boost the installation rate of fuel dispenser kiosks. The MEA market growth, in particular, can be quite conducive in the years ahead, thanks to the surging investments by prominent oil & gas companies like Shell and Schlumberger in the downstream oil & gas sector.
The leading players in the worldwide market for fuel dispenser market include Dover Fueling Solutions (US), Censtar Science & Technology Corp., Ltd (China), Bennett Pump Company (US), Gilbarco Inc. (US), LanFeng Co., Ltd (China), Tatsuno Corporation (Japan), Beijing Sanki Petroleum Technology Co., Ltd (China), NEOTEC (Greece), Scheidt & Bachmann Tubs d.o.o. (Croatia), Zhejiang Datian Machine Co., Ltd (China), Tominaga Mfg Co. (Japan), Korea EnE Co., Ltd (Seoul), Piusi SpA (Italy), and others.
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Key Questions Addressed by the Report
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.2 RESEARCH OBJECTIVE
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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