What is the Historic and Current Scenario of the Fuel Dispenser Market?
The fuel dispenser market has seen considerable growth due to a variety of factors.
• The market size of fuel dispensers has witnessed significant expansion in the past few years. It is projected to increase from $2.66 billion in 2024 to $2.81 billion in 2025, with a compound annual growth rate (CAGR) of 5.4%. The growth during the historical era was stimulated by worldwide economic trends, the incorporation of data and analytics, the introduction of improved safety protocols, evolution of payment systems, and proliferation of fuel stations.
What Is The Expected Growth In The Fuel Dispenser Market?
The Fuel Dispenser market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the fuel dispenser market is projected to experience robust growth, escalating to $3.56 billion in 2029 with a compound annual growth rate (CAGR) of 6.2%.
The growth during this forecast period can be credited to the escalating demand for contactless solutions, compliance with regulatory standards, increase in mobility solutions, expansion of fueling infrastructure, and focus on environmental sustainability. Key trends for the projected period encompass adaptability to evolving regulations, remote monitoring and management, compatibility with alternate fuels, incorporation of contactless payments, and improved user experience.
What Main Forces Are Fueling Expansion In The Fuel Dispenser Market?
The fuel dispenser market's expansion is anticipated to gain momentum due to increased fuel demands. Fuel, defined as any substance capable of producing heat or energy, is often dispensed using fuel dispensers into vehicles, aircraft, storage tanks, or portable containers, dispensing gas, diesel, oil, or kerosene. In a report from the U.S. Energy Information Administration (EIA), a statistical agency under the Department of Energy, disclosed in September 2022, it was revealed that global consumption of petroleum and liquid fuels in August 2022 was 99.4 million b/d. This represented a rise of 1.6 million b/d compared to August 2021. Forecasts for 2023 estimate an average increase in worldwide fuel consumption of 2.0 million b/d. Hence, the mounting demand for fuel is propelling the growth of the fuel dispenser market.
What Are The Primary Segments In The Global Fuel Dispenser Market?
The fuel dispenser market covered in this report is segmented –
1) By Type: Suction System, Submersible System
2) By Flow Meter Type: Mechanical, Electronic
3) By Application Type: Petrol, Diesel, Biofuel, Other Applications
Subsegments:
1) By Suction System: Single Hose Dispensers, Multi Hose Dispensers
2) By Submersible System: Single Point Dispensers, Multi Point Dispensers
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Which Key Trends Are Driving Changes In The Fuel Dispenser Market?
Leading businesses in the fuel dispenser market are concentrating on introducing innovative technologies to maintain their market stance. For instance, Dover Fueling Solutions (DFS), a US company that specializes in developing fuel dispensing equipment, unveiled their ProGauge MagLink LX Plus in June 2022— a state-of-the-art automatic tank gauge (ATG) console. The MagLink LX Plus offers several prominent enhancements, including ingenious touch and swipe technology that provides an engaging and interactive user experience. The MagLink LX Plus stands as DFS' most sophisticated console to date, boasting enhanced scalability, flexibility, and connectivity. It operates smoothly with smart sensors, like those utilizing IntelliSense technology. The console-linking capability is now more adaptable for site owners, and a single user interface has made it feasible to oversee a broader area.
Who Are the Key Players In The Fuel Dispenser Market?
Major companies operating in the fuel dispenser market include:
• Dover Fueling Solutions
• CenStar Energy Corporation
• Zhejiang Lanfeng Machine Co. Ltd.
• Neotec Ltd.
• Korea EnE Co. Ltd.
• Gilbarco Veeder Root
• Bennett Pump Company
• Beijing Sanki Petroleum Technology Co. Ltd.
• Zhejiang Datian Machine Co. Ltd.
• Tominaga Mfg. Co.
• Tatsuno Corporation
• Scheidt & Bachmann GmbH
• PIUSI SPA
• Jiangsu Furen Group
• Wayne Fueling Systems LLC
• Zhejiang Genuine Machine Co.Ltd.
• Zhejiang Yongjia Zhongzheng Machine Co. Ltd.
• Zhejiang Jiasong Technology Co.Ltd.
• Zhejiang Koeo Petroleum Machinery Co.Ltd.
• Guangzhou Senbiao Mechanical Equipment Co.Ltd.
• Wenzhou Bluesky Energy Technology Co.Ltd.
• Wenzhou Changlong Fuel Dispenser Manufacture Co. Ltd.
• Wenzhou Xiaoding Machinery Co.Ltd.
• Wenzhou Bestfueling Machinery Co.Ltd.
• Wenzhou Supertech Machine Co.Ltd.
• Wenzhou Ecotec Energy Equipment Co.Ltd.
• Wenzhou Bada Machine Co. Ltd.
• Peltek India
What Is The Most Dominant Region In The Fuel Dispenser Market?
Asia-Pacific was the largest region in the fuel dispenser market in 2024. The regions covered in the fuel dispenser market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
