Multi-Fuel Dispenser Market: Introduction
- The term ‘fuel dispenser’ refers to a machine used to pump diesel, CNG, LPG, HCNG, biofuel, ethanol, or petrol into a vehicle at a filling station. A dispenser works on different types of systems including suction systems and submersible systems. In suction systems, a dispenser comprises a suction system and a motor so as to work independently. On the other hand, in submersible systems, the dispenser cannot work independently, as it does not comprise a suction system or a motor.
- Commercially available fuel dispensers are classified into several types depending on dispensing of fuel, such as single-, dual-, and multi-fuel dispensers. Presently, multi-fuel dispensers are becoming prevalent in the marketplace, as their design allows dispensing of two or three fuels from a single dispenser.
Key Drivers and Restrains of Global Multi-fuel Dispenser Market
- Surge in investments in the automotive industry led by increase in the disposable income, rise in the living standards, and strong economic growth, primarily in Asia Pacific, is a key factor driving the global multi-fuel dispenser market
- Shift in trend toward adoption of vehicles powered by natural gas in developing as well as developed countries in order to minimize the impact of climate change caused by vehicle emissions is anticipated to propel the global multi-fuel dispenser market during the forecast period. For instance, sales of vehicles powered by natural gas in Italy accounted for 80% of the total sales of such vehicles in Europe in 2017.
- Surge in the capital expenditure on production of shale gas, exploration of new oil and gas reserves, and technological innovations in the design of fuel dispensers are projected to drive the global multi-fuel dispenser market during the forecast period. However, increase in the adoption of electric vehicles is anticipated to hamper the global multi-fuel dispenser market during the forecast period.
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Diesel Segment to Hold a Major Share of Global Market
- The global multi-fuel dispenser market can be segmented based on fuel and product
- In terms of product, the global multi-fuel dispenser market can be divided into general fuel dispenser and self-service dispenser. General fuel dispenser is one of the most extensively used multi-fuel dispensers. These are conventional types of dispensers used at filling stations. These dispensers are operated by attendants.
- Based on fuel, the global multi-fuel dispenser market can be divided into petrol (gasoline), diesel, compressed natural gas (CNG), and others. The diesel segment is anticipated to witness considerable growth during the forecast period, due to increase in the vehicle fleet count led by rapid urbanization and strong economic growth. The CNG segment is also anticipated to witness strong growth during the forecast period, due to the lower cost of CNG compared to petrol and diesel.
North America Multi-fuel Dispenser Market to Expand Rapidly
- In terms of region, the global multi-fuel dispenser market can be divided into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- The multi-fuel dispenser market in North America is anticipated to expand at a significant pace during the forecast period. This growth can be attributed to increasing investments in the exploration and production of shale gas in the region.
- The multi-fuel dispenser market in Europe is projected to witness significant growth during the forecast period, due to increase in the adoption of natural-gas-powered vehicles in the region. For instance, as per Natural Gas & Bio Gas Vehicle Association, in Europe, more than 1.4 million natural gas vehicles (NGVs) were running on roads in 2018 and these vehicles were supported by 214 liquefied natural gas (LNG) filling stations and 3,665 compressed natural gas (CNG) filling stations.
- The multi-fuel dispenser market in Asia Pacific is anticipated to expand at the maximum CAGR during the forecast period. This growth can be attributed to increase in sales of vehicles led by growing population and increasing per capita disposable income, predominantly in developing economies in the region such as India.
- The multi-fuel dispenser market in Latin America and Middle East & Africa is projected to expand at a rapid pace during the forecast period, due to increase in investments in the exploration of hydrocarbon reserves to meet the demand for petroleum products, primarily from the automobile sector in these regions.
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Key Players Operating in Global Market
Leading companies operating in the global multi-fuel dispenser market are:
- Gilbarco Veeder Root
- Censtar Science and Technology Co., Ltd
- Wayne Fueling Systems LLC.
- LAFON TECHNOLOGIES
- XL Techniques
- BENNETT PUMP COMPANY
Global Multi-fuel Dispenser Market: Research Scope
Global Multi-fuel Dispenser Market, by Fuel
- Compressed Natural Gas (CNG)
Global Multi-fuel Dispenser Market, by Product
- Self-service Dispenser
- General Fuel Dispenser
Global Multi-fuel Dispenser Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.