Global Fuel Dispenser Market Size is Projected to Reach USD 3,728 million by 2030, Growing at a CAGR of 5.7%: Straits Research
Increasing demand for petroleum fuels and CNG products from growing economies like China, Brazil, India, Australia, and South Korea is anticipated to be the primary factor propelling the growth of the fuel dispenser market.
New York, United States, Dec. 13, 2023 (GLOBE NEWSWIRE) -- A fuel dispenser is a piece of equipment used at service stations and other fuel stations to refuel automobiles. Fuel dispensers are the machines used to pump liquid and gaseous fuels into vehicles. These fuels include gasoline, diesel, compressed natural gas (CNG), biofuels, ethanol, and hydrogen. A fuel dispenser system's electronic and mechanical components are its key components. Electronic components control displays, such as meter readings from sensors indicating gasoline volume, pressure, and delivered fuel cost. The mechanical component includes a fuel-regulating pump, valves, and an electric motor. These two components calculate the correct amount of fuel dispensed when refueling a vehicle. In rural and urban locations, fuel dispensers enable the dependable refueling of vehicles, storage tanks, and containers.
The global fuel dispenser market is expected to rise during the projected period due to the rising demand for petroleum fuels and CNG products in emerging nations and the rapid growth of the dual-fuel or hybrid car sector. However, growing awareness and stronger government regulations about automobile emissions, a rise in the demand for electric vehicles, and a drop in the number of petroleum-based filling stations are anticipated to constrain the expansion of the fuel dispenser market. In contrast, technological advancements, research, and development toward highly efficient fuel dispenser systems are expected to create opportunities for market players.
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Demand for Petroleum and CNG Products in Emerging Nations and Increase in Dual/Hybrid Vehicles to Drive the Global Fuel Dispenser Market
According to Straits Research, “The global fuel dispenser market had a market share of USD 2,392 million in 2021 and is estimated to project at a CAGR of 5.7% and reach USD 3,728 million in 2030 during the forecast period.” Increasing demand for petroleum fuels and CNG products from emerging economies such as China, Brazil, India, Australia, and South Korea is the primary factor driving the fuel dispenser market. There is a rapid adoption of natural gas automobiles in these expanding economies and a rise in petroleum fuel use. This is anticipated to raise the demand for gas stations, hence driving the growth of the global fuel dispenser market throughout the forecast period.
Currently, automobile markets in developing nations such as India, China, and Brazil are rising significantly. In addition, advanced economies such as North America and Europe account for most automobile production and sales. China is the largest country-level market with the highest production and sales data since 2014 due to technological advancements, superior manufacturing facilities, and a rapid increase in population, contributing to the high demand for automobiles. This rapid growth in vehicle production and sales is predicted to raise the need for petroleum and other fuels, driving the growth of the global fuel dispenser market over the forecast period.
Rapid growth in hybrid vehicle production and sales is expected to drive the expansion of the global fuel dispenser market over the forecast period. In addition, hybrid vehicles have numerous advantages over conventional vehicles, including the potential to achieve zero emissions, economic benefits, the ability to run on alternative fuels, and power generation from regenerative braking, which all contribute to the expansion of the global fuel dispenser market.
Advancements in Research & Development and Technologies to Create Opportunities for Global Fuel Dispenser Market
Technological developments such as the incorporation of digital innovations and automation, among others, are essential to the success of the global gasoline dispenser market. Moreover, introducing embedded electronic dispensing systems, cloud platforms, and other digital technologies in fuel dispensers is expected to create chances for market leaders. Demand from consumers for a seamless retail fueling experience, faster and more efficient fueling, and other features has shifted the attention of key players, leading to an increase in research and development activities focused on creating highly efficient fuel dispenser systems. This is anticipated to present significant potential for industry leaders in the fuel dispenser arena in the future years.
Regional Insights
Asia-Pacific is envisioned to hold the largest share of USD 1,899 million growth with the highest CAGR of 6.3%. Rising economies like China, Japan, India, and Australia are the primary drivers of the gasoline dispenser market in the Asia-Pacific region. This is because these countries' automotive and transportation industries are experiencing substantial expansion. This is a result of many significant players and manufacturing facilities available in these countries. Additionally, the increase in population and economic development in countries such as China, India, and others is raising the need for automobiles, pushing the expansion of the market for fuel dispensers throughout the forecast period. The increasing demand for gasoline, diesel, natural gas, and other fuels in Asia-Pacific, particularly in China and India, is driving the demand for fuel dispensers and is likely to drive the global market for fuel dispensers in the years to come.
Europe will hold a share of USD 1,058 million with a CAGR of 5.8% during the forecast period. In Europe, retail and commercial gas stations extensively use automated fuel dispensing systems. The market for fuel dispensers in Germany is the most lucrative in Europe. The increased demand for fuel dispensers from several applications, such as petrol, diesel, gasoline, and electric vehicle stations, is the primary factor driving growth in the European market throughout the forecast period. The demand for high-performance, fuel-efficient, and low-emission automobiles across the area, on the other hand, is fueling a massive expansion in the market for electric vehicles. In addition, strict government regulations have been implemented concerning car emissions, and environmental pollution is estimated to grow the market for electric vehicles, increasing the demand for electric charging dispensers over the forecast period. This growth in the market for electric vehicles is expected to drive the demand for electric charging dispensers.
Competitive Players in the Market
Bennett Pump Company
Korea EnE Co., Ltd.
Canstar Science & Technology Corp. Ltd
Beijing SANKI Petroleum Technology Co., Ltd
Scheidt & Bachmann GmbH
Dover Corporation
Zhejiang Lanfeng Machine Co., Ltd
Tatsuno Corporation
Fortive Corporation
Tominaga Mfg. Company
Market News
In 2022, Scheidt & Bachmann GmbH and Kuwait Petroleum North West Europe have agreed to introduce SIQMA innovations to Belgium and Luxembourg.
In 2022, Scheidt & Bachmann GmbH installed a parking management system in the Commercial Area annexed to the Shopping Centre Parque Ademuz in Valencia.
In 2022, Scheidt & Bachmann GmbH and Worldline will join hands and launch a new fuel solution for Europe. This solution will help fuel retailers deliver a more comprehensive payment solution for customers at petrol stations.
Global Fuel Dispenser Market: Segmentation
By fuel type
Petroleum Fuels
Compressed Fuels
Biofuels
Others
By dispenser type
Submersible System
Suction System
By flow meter
Mechanical
Electronics
By region
North America
Europe
Asia-Pacific
LAMEA
Get Detailed Market Segmentation @ https://straitsresearch.com/report/fuel-dispenser-market/segmentation
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