As per a detailed analysis by Market Research Future (MRFR), the global fuel dispenser manufacturers market is likely to garner USD 2,407.2 million, registering a CAGR of 5.52% during the forecast period (2018-2023). The spreading of the chain of petrol stations across the globe is triggering the demand for fuel dispenser manufacturers. fuel dispenser manufacturerss are extensively used to pump liquid fuels like diesel fuel, gasoline, kerosene, and oil into a storage tank, vehicle, or a portable container. Fuel dispensing equipment helps to monitor and dispense gaseous or liquid fuel.
Market Potential and Pitfalls
The fuel dispenser manufacturers market has witnessed a tectonic surge in the past few years due to the spreading of the chain of petrol stations across the globe which is triggering the demand for fuel dispenser manufacturerss. The surging demand and supply forces are further creating lucrative opportunities for the progress of the market during the estimated period. With the entry of strong market players, the fuel dispenser manufacturers market is likely to receive a boost in its growth. The increased vehicular travel in the past few years has also offered an impetus to the market. The increased consumption of petroleum products coupled with the swift adoption of natural gas vehicles in the emerging countries is further opening new growth avenues for the market. The surging demand for NGVs and the rising initiatives by the government is controlling major automotive OEMs to focus on manufacturing and natural gas vehicles (NGV) designs. Several countries are undertaking initiatives to implement green transportation possibilities like NGVs. The augmenting demand for fuel dispenser manufacturerss is further reinforced by the damaging effects of vehicle emissions on the environment and surging prices of gasoline. Moreover, the surging demand for petroleum-based products is likely to rise at a steady pace which will create positive growth opportunities for the market across the globe.
On the contrary, the market is predicted to showcase a restricted growth due to the sharp decline in the number of fuel stations which is further credited to the booming real estate prices, inflated sales of electric vehicles, reduced profit margins, and introduction of new mobile fuel delivery systems. Moreover, government initiatives which promote the adoption of eco-friendly vehicles like electric vehicles are considered to deter the market growth in the long run.
Global fuel dispenser manufacturers Market: Segmental Analysis
The global fuel dispenser manufacturers market has been segmented on the basis of type, product, and application.
By mode of type, the global fuel dispenser manufacturers market has been segmented into submersible and suction. Among these, the submersible segment is touted to reach a CAGR of 6.29% during the forecast period. The growth can be ascribed to the surging number of submersible fuel dispenser manufacturerss for their low maintenance cost, low installation cost, and higher efficiency in terms of dispensing and suction capacity.
The product segment constitutes of general fuel dispenser manufacturerss and self-service fuel dispenser manufacturerss.
By mode of application, the global fuel dispenser manufacturers market has been segmented into petrol, diesel, and biofuel.
Geographically, the fuel dispenser manufacturers market has been studied under regions namely, North America, Europe, Asia Pacific, and Rest-of-the-World (RoW).
Considering the global scenario, the North American region is estimated to acquire a market share of 52.41% in 2017, garnering a valuation worth USD 918.4 million. The regional market is predicted to advance a CAGR of 5.57% in the long run. The regional growth owes to the surging level of disposable income coupled with an increased passenger vehicle fleet in the region. The augmenting demand for fuel dispenser manufacturerss in this region is likely to contribute to the market growth.
Europe was evaluated at USD 369.5 million in 2017 and is estimated to garner a CAGR of 5.61% during the review period. The regional market is anticipated to be at an advantage owing to the rapidly growing demand for fuel dispenser manufacturerss in the automotive sectors especially in countries like Germany, France, and the UK.
The Asia Pacific region is predicted to witness a top CAGR of 5.79% during the review period due to the rapid urbanization taking place in the region. This has created an augmented demand for passenger vehicles in the past few years. Moreover, the thriving automotive sector in countries like China, Japan, and India are considered as key drivers for the market growth in this region.
April 10, 2019: Dover Fueling Solutions has recently launched the all-new Tokheim Quantium 510M fuel dispenser manufacturers series. The range is considered as the next generation of the Quantium fuel dispenser manufacturers family, introducing more models to choose from along with numerous new features.
The prominent players operating in the global fuel dispenser manufacturers market comprises Dover Fueling Solutions (US), Beijing Sanki Petroleum Technology Co, Ltd (China), Bennett Pump Company (US), Tatsuno Corporation (Japan), Scheidt & Bachmann Tubs d.o.o. (Croatia), NEOTEC (Greece), LanFeng Co., Ltd (China), Censtar Science & Technology Corp., Ltd (China), Gilbarco Inc. (US), Piusi SpA (Italy), Korea EnE Co., Ltd (Seoul), Tominaga Mfg Co. (Japan), and Zhejiang Datian Machine Co Ltd (China).
Browse Complete Report “fuel dispenser manufacturers Market Research Report – Global Forecast till 2025” @ https://www.marketresearchfuture.com/reports/fuel-dispenser-market-7018