The rivalry among the players operating in the global fuel dispenser market is comparatively very high, states Transparency Market Research (TMR) in a research report. Owing to easy access to inexpensive raw materials and the protection from price volatility, the local manufacturers in this field have competitive advantages along with integrated operations. The rising focus of the top drawer companies in the respective regional markets is anticipated to make the competition intense in the near future. The notable players in the market are Gilbarco Inc., Zhejiang Lanfeng Machine Co. Ltd., Tokheim Group S.A.S, and Wayne Fueling Systems LLC. These leading players collectively held a share of over 58% in the global fuel dispenser market in 2015.
According to a TMR researcher, “The global market for fuel dispenser is expected to rise at a 2.40% CAGR from 2016 to 2024. From a valuation of US$1.83 bn in 2015, the market is expected reach US$2.26 bn by 2024.”
Electronic Flow Meter to be in High Demand
The two chief types of flow meters presented in the global fuel dispenser market are electronic flow meter and mechanical flow meter. The demand for the electronic flow meter type has been comparatively greater than the mechanical type owing to features such as accuracy, reliability, and stability. Analysts expect that this demand will rise exponentially at a 2.50% CAGR between 2016 and 2024, safeguarding the supremacy of electronic flow meters in the global fuel dispenser market in the coming years. Even based on volume, the electronic flow meters segment have a superior share in this particular market, which is expected to remain high in the forthcoming years.
Region-wise, the global market for fuel dispenser is classified into Asia Pacific, the Middle East and Africa, Latin America, North America, and Europe. Asia Pacific held the leading share in 2015 of over 45% and is expected to retain the lead in the coming years. This growth can be attributed to the growth in urbanization along with robust infrastructural development in countries in the Asia Pacific region. In the Asia Pacific market, China surfaced as the leader in terms of consumption and is also expected to retain a prominent position as the producer of fuel dispenser as well. The growing population and the increasing trend of vehicle possession are further likely to supplement the growth of the China market for fuel dispenser in the near future.
Rising Number of Vehicles to Boost uptake of Fuel Dispenser Market
The growing need for numerous types of fuels such as CNG, diesel, and petrol is anticipated to lift the demand for fuel dispensers across the globe. The noteworthy increase in the amount of vehicles on road, increased by the rise in the disposable income of customers, subsequent in the altering customary of their living, has accelerated the obligation for fuels, reflecting significantly on the fuel dispensers sales.
Additionally, new detections in oil, gas and other different fuels, development in the shale gas industry, and the technical developments in fuel dispensers are expected to inspire the demand for fuel dispensers considerably during the forecast period. Nevertheless, the growing uptake of electric vehicles by customers for controlling pollution is expected to limit the growth of the market in the near future.
The study presented here is based on a report by Transparency Market Research (TMR), titled, “Fuel Dispensers Market (Type - Submersible Systems and Suction Systems; Flow Meter - Mechanical and Electronic; Fuel Type - Petrol, Diesel, CNG, and Compressed Hydrogen) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The global fuel dispensers market has been segmented as follows:
- Submersible System
- Suction System
By Flow Meter
By Fuel Type
- Compressed Hydrogen
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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