According to IMARC Group latest report titled “Fuel Dispenser Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on fuel dispenser market report 2022. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global fuel dispenser market reached a value of US$ 2.62 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.65 Billion by 2027, exhibiting a CAGR of 5.6% during 2022-2027.
Fuel dispensers are devices used at fuel stations to pump and monitor liquid or gaseous fuel. They are utilized for dispensing different fuels, such as petrol, ethanol fuel, kerosene, diesel, biofuels, natural gas, etc., into automobiles, aircraft, storage tanks, portable containers, etc. Fuel dispensers consist of various electronic and mechanical components, including hydraulic portions, display meters, pumps, hoses, valves, nozzles, etc. The rotary pump present in the hydraulic section of the dispenser draws the fuel from the storage tank, while a pivot valve ensures that the fuel flows smoothly through the device and also guarantees that the correct amount of fuel is dispensed into the vehicle tank.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The rapidly expanding automotive industry is among the primary factors driving the fuel dispenser market. Additionally, the increasing awareness among consumers regarding the benefits of using biofuels is further catalyzing the market growth. Besides this, the launch of several favorable initiatives by the government bodies of both developed and developing economies offering subsidies to promote the utilization of hydrogen and compressed natural gas (CNG)-fueled vehicles is acting as another significant growth-inducing factor. Moreover, the integration of numerous technological advancements, such as the development of the electronic embedded dispensing system and the introduction of artificial intelligence (AI), machine learning (ML), cloud and Internet of Things (IoT)-based platforms, to provide smart retail management solutions is projected to stimulate the fuel dispenser market over the forecasted period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Beijing SANKI Petroleum Technology Co. Ltd
- Bennett Pump Company
- Censtar Science & Technology Corp. Ltd
- Dover Corporation
- Fortive Corporation
- Korea EnE Co. Ltd
- Scheidt & Bachmann GmbH
- Tatsuno Corporation
- Tominaga Mfg. Company
- Zhejiang Lanfeng Machine Co. Ltd
Fuel Dispenser Market Segmentation:
Our report has categorized the market based on region, fuel type, dispenser system and flow meter.
Breakup by Fuel Type:
- Petroleum Fuels
- Compressed Fuels
- Biofuels
- Others
Breakup by Dispenser System:
- Submersible
- Suction
Breakup by Flow Meter:
- Mechanical
- Electronics
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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