Global Fuel Dispenser Market Size To Grow At A CAGR Of 5.9% In The Forecast Period Of 2022-2027
The ‘Global Fuel Dispenser Market Analysis, Share, Growth, Trends, Report and Forecast 2022-2027’ by Expert Market Research gives an extensive outlook of the global fuel dispenser market, assessing the market on the basis of its segments like fuel types, dispenser systems, flow meters, and major regions.
The key highlights of the report include:
Market Overview 2017-2027
• Forecast CAGR (2022-2027): 5.9%
The increasing demand for fuels, accelerated by the thriving automotive industry is driving the market growth for fuel dispensers. The growing sale of passenger and commercial vehicles is guiding the market dynamics.
Meanwhile, the rapid transition from traditional fuels to alternative fuels, in order to reduce carbon emissions, is propelling the demand for compressed natural gas and biofuels. This increase in demand for alternative fuels is in turn escalating the development of fuel dispensers.
The growing expansion of the transportation industry is further supporting the fuel dispenser market. The increasing number of buses and other public transportation vehicles across the emerging economies are accelerating need for easily accessible fuel dispensers. In addition, rising pollution levels are further increasing popularity of CNG or biofuel vehicles for public transportation.
Over the forecast period, the anticipated increase in investments by major fuel producing companies to increase the penetration of hydrogen fuel, are expected to expand the market opportunities.
Fuel Dispenser Industry Definition and Major Segments
A fuel dispenser, also known as a gas pump, is a machine which is installed in fuel stations and used to put various types of fuels, such as gasoline and diesel, among others, into a vehicle. The major components which make up a fuel dispensing system include storage tank, pipeline, and dispenser.
Based on fuel type, the market can be segmented into:
• Petroleum Fuels
• Compressed Fuels
On the basis of dispenser system, the market has been classified into:
• Submersible System
• Suction System
By flow meter, the market has been divided into:
On the basis of region, the market can be categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Fuel Dispenser Market Trends
The key trends in the global fuel dispenser market include the technological advancements in fuel stations. The increasing penetration of internet of things (IoT) and artificial intelligence in fuel dispensers is reducing the load on humans which is in turn decreasing the cost of station operations. In addition, the favourable digitalisation initiatives by various governments are likely to encourage technologies such as data analytics across the stations. The emergence of smart electronic devices such as mobiles and tablets are leading to the development of fuel applications engaging customers.
In terms of areas, Asia Pacific holds a significant share in the fuel dispenser market, driven by the strong hold of the automotive industry in developing countries like India and China. Favourable policies by governments in the region, such as the Digital India initiative, are further expanding the market opportunities. The high population in the region which is propelling the demand for fuel, is also leading to increased pollution which is leading to a transition towards alternative fuels. This transition is likely to boost-up the development process of fuel dispensers in the coming years.
Get a Free Sample Report with Table of [email protected] https://www.expertmarketresearch.com/reports/fuel-dispenser-market/requestsample
Key Market Players
The major players in the fuel dispenser market report are
• Bennett Pump Company
• Censtar Science & Technology Corp., Ltd.
• Dover Corporation
• Fortive Corporation
• Korea EnE Co., Ltd.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Read More Reports:
Flexible Plastic Packaging Market
Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.
EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.
Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective, and intelligent business strategies and ensure their leadership in the market.
Company Name: Claight Corporation
Contact Person: James Rowan, Business Consultant
Email: [email protected]
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA