Fuel Dispensers Market

Fuel Dispensers Market Size, Share, Growth (2023-2028)

Fuel Dispensers Market at a global level is expected to reach USD 2.26 billion by 2028, growing at a CAGR of 5.52% during the forecast period.

Fuel Dispensers Market Overview:

In fuel dispensers, nozzles are fixed to the pump to allow flexibility while pumping the fuel into the vehicles. This equipment can also measure the amount of fuel dispensed accurately. In modern days, these systems are designed with the latest technologies and made simple to manage complex tasks. Logically, the equipment has two main parts such as the electronic section and the mechanical section. An electronic section has control over the pump’s display and to hold communication between the indoor sales systems, whereas the mechanical section deals with the motors, pumping unit, and other parts. Increasing the population across the world and growing demand for transportation is the major factor driving the demand of the market. In addition, the rise in the consumption rate of petroleum products is propelling the demand of the market. Growing prices of gasoline and also increase in the cost of electric vehicles are ascribed to bolster the growth of the market.However, fluctuations in the availability of raw materials are slowly restraining the demand of the market. Frequent changes in economic strategies are also impacting negatively on the growth of the market. Growing prevalence for the two-wheeler and four-wheeler vehicles is magnifying the demand of the market to the extent. Growth opportunities for the market lie in the increasing capital income in both developed and developing countries. Furthermore, shifting trend towards natural gas vehicles is to broaden the demand of the market.

REPORT COVERAGE

Fuel Dispensers Market Segmentation:

By Type

• Submersible

• Suction System

the Submersible system is leading with the highest shares of the market. Rise in support is one of the factors to prompt the growth of the market.

By Fuel Type

• Petrol

• Diesel

• CNG

• Compressed Hydrogen

• Others

the Petrol fuel type is accounted for in dominating the largest shares of the market with the increased adoption of petroleum products in most of the countries.

Fuel Dispensers Market Regional Analysis:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa 

Regionally, North America is ruling with the highest shares of the market for many years and it is also expected to lead the market at the same rate throughout the review period. The rise in disposable income in urbanized areas and the demand for luxury cars and bikes are mainly lavishing the demand of the market. The Asia Pacific is next to North America in leading with the highest shares of the market. An increasing number of filling stations everywhere is fueling the demand of the market. In addition, adoption of the latest technology and launch of specific features for the existing systems is solely to spur the demand of the market.

Europe is registering the highest growth rate from recent years and it is estimated that the market will grow at the highest CAGR in this period. The increasing economy in many countries is primarily leveraging the growth of the market. The Middle East and Africa are deemed to have growth opportunities in the foreseen years. Rise in the awareness towards the latest developments and also people's interests towards gas vehicles rather than electric vehicles is surging the demand of the market in this region.

Fuel Dispensers Market KeyPlayers:

1. Dover Fueling Solutions (US)

2. Tatsuno Corporation (Japan)

3. Bennett Pump Company (US)

4. NEOTEC (Greece)

5. Scheidt & Bachmann Tubs d.o.o. (Croatia)

6. Censtar Science & Technology Corp., Ltd (China)

7. LanFeng Co., Ltd (China)

8. Piusi SpA (Italy)

9. Gilbarco Inc. (US)

10. Tominaga Mfg Co. (Japan)

11. Korea EnE Co., Ltd (Seoul)

12. Zhejiang Datian Machine Co Ltd (China)