New York, US, Feb. 22, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR),” Fuel Dispenser Market Research Report Information by Product, by Type, by Application, and by Region - Market Forecast Till 2030.”, confirms that the global fuel dispenser market is expected to garner notable growth by 2030, growing at a 5.82% CAGR during the forecast period (2022-2030).
Fuel Dispenser Market Overview
The global fuel dispenser market is growing at an impressive growth rate. The market growth attributes to the extensive uptake of advanced fuel dispensers across fuel centers and gas stations worldwide. Substantial R&D investments in product development act as a major tailwind for the growth of the market. Increasing sales and uptake of fuel dispensers influence the market value.
The increasing trend of mass production in major end-use industries to minimize the overall production cost boosts market revenues. Governments provide subsidies to build NGV refueling infrastructure, influencing the fuel dispenser market size.
Players leading the fuel dispenser market include,
- Dover Fueling Solutions (US)
- Gilbarco Inc. (US)
- Tatsuno Corporation (Japan)
- Scheidt & Bachmann Tubs d.o.o. (Croatia)
- Bennett Pump Company (US)
- NEOTEC (Greece)
- Piusi SpA (Italy)
- LanFeng Co. Ltd (China)
- Tominaga Mfg Co. (Japan)
- Censtar Science & Technology Corp. Ltd (China)
- Beijing Sanki Petroleum Technology Co. Ltd (China)
- Zhejiang Datian Machine Co. Ltd (China)
- Korea EnE Co. Ltd (Seoul)
- Among others.
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Innovative and connected fuel dispensers can enhance consumer experience and engagement while making the refueling process simple, fast, and stress-free. With their ability to interface with the powerful DFS platform, fuel dispensers allow fuel retailers to personalize the user experience and leverage remote monitoring & advanced remote management capabilities.
Most fuel station operators and retailers are increasingly realizing the benefits of fuel dispensers. They are installing advanced fuel dispensing systems and payment technology important for their retail fuel business. Advanced fuel dispensing systems and payment technology are two important touchpoints for setting the tone for a pleasant customer experience that leads to increased loyalty and selling opportunities.
|Market Size 2030||USD Significant Billion Value|
|CAGR during 2022-2030||5.82% CAGR|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Type, Application, and Region|
|Key Market Opportunities||The automotive industry is experiencing a rise in the use of cost-effective alternative|
|Key Market Dynamics||Increasing awareness of biofuels among the general population To promote the use of hydrogen and compressed natural gas-fueled vehicles|
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The rising awareness of the adverse effects of vehicle emissions on the environment and the increasing price of gasoline drive the natural gas vehicles (NGVs) demand as they reduce carbon monoxide emissions by more than 80% compared to gasoline-powered vehicles. The increase in demand for NGVs and rising government initiatives leads major automotive OEMs to increase their focus on NGV design and manufacturing.
On the other hand, high capital investment requirements and the various counterfeited, low-cost products floating in the market are major factors projected to impede market growth. Also, the increasing sales of electric vehicles are expected to restrict fuel dispensers' demand during the forecast period. Nevertheless, technological advances and the introduction of new mobile fuel delivery systems would support the market growth throughout the assessment period.
The fuel dispenser market report is segmented into products, types, applications, and regions. The product segment is sub-segmented into self-service fuel dispensers and general fuel dispensers. The type segment is sub-segmented into submersible, suction, mobile, and others. The application segment is sub-segmented into petrol, diesel, biofuel, and others. The region segment is sub-segmented into Europe, North America, APAC, and Rest-of-the-World.
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The Asia Pacific region dominates the global fuel dispenser market. The region is a leading automotive manufacturing hub and attracts large foreign investors with its raw material advantages and the availability of cost-competitive workforces. Resultantly, APAC has a large number of fuel dispenser production plants and accounts for the largest producer and consumer market for fuel dispensers. With the booming automotive industries, China, Japan, and India, lead the fuel dispenser market in the region.
North America is another lucrative market for fuel dispensers. Market growth attributes to the booming fuel dispenser demand, technological advances, and the wide adoption of technologically advanced products. Additionally, rising investments by major oil & gas companies such as Schlumberger and Shell in the region's downstream oil & gas industry have led to opportunities for fuel dispenser manufacturers. Also, the strong presence of key industry players in the region positively impacts the market's growth.
The European region also holds a sizable share of the global fuel dispenser market. Factors such as the augmented demand from growing numbers of gas stations in the region boost the fuel dispenser market share. Germany, Italy, and France are key markets for fuel dispensers in the region. Moreover, the rise in the automotive and transportation industry and the presence of large industry players influence the region's fuel dispenser market size.
Highly competitive, the fuel dispenser market appears fragmented due to the presence of several well-established players. Some of them even have an excellent international presence. Mergers & acquisitions, collaboration, expansion, and product/technology launches are key trends observed among the market players. Fuel Dispenser market players strive to create products with precision.
For instance, on July 20, 2022, Dover Fueling Solutions (DFS), a leading global provider of advanced customer-focused technologies, launched a new technologically-advanced dispenser, Wayne Helix, for hydrogen and CNG in Europe, the Middle East and Africa (EMEA) region. New Hydrogen and Helix CNG dispensers complement DFS's established clean energy portfolio, including the LIQAL LNG and Tokheim Quantium LPG dispensers. DFS strives to offer leading products and solutions in the clean energy sector, powering the next generation of mobility and heavy-duty transportation.
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In another instance, on Oct. 03, 2022, Gasboy, a leader in fleet fueling technology, announced the addition of Gasboy Site Prime and Truck Prime to its prime suite of fuel management software. Gasboy's Site Prime is designed specifically for smaller form factor fleet operations. These new offerings are designed to interface with any fuel pump or dispenser and communicate via LAN or internal cellular connectivity.
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