According to the latest report by IMARC Group, titled "Fuel Dispenser Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global fuel dispenser market reached a value of US$ 2.62 Billion in 2021. A fuel dispenser is generally used to pump gaseous fuels, such as diesel, gasoline, ethanol fuel, kerosene and biofuels, at filling stations. It mainly consists of mechanical and electronic components, wherein mechanical gears include a motor, pump and valves that control the flow of fuel. On the other hand, electronic systems are designed to control readings that display the fuel volume and pressure. Additionally, it is equipped with an upright pump that comprises measuring equipment and a nozzle attached to a flexible hose that allows the operator to insert the nozzle into the vehicle fuel tank and is utilized for recording the amount of fuel dispensed.
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Global Fuel Dispenser Market Trends:
The global market is primarily driven by significant growth in the automotive industry. Moreover, the increasing manufacturing and selling of vehicles is creating a positive market outlook. Additionally, the rising investments by private and public firms in infrastructural development projects, such as the development of petrol pumps across several urban and rural locations, are providing a boost to the market. Furthermore, continual technological advancements and the introduction of smart fuel dispenser systems are considered to be major growth-inducing factors. Apart from this, the shifting preference towards the adoption of biofuels is significantly supporting the demand for fuel dispensers on the global level. The market is further driven by the numerous initiatives undertaken by the government of several countries for promoting the utilization of compressed natural gas (CNG)-fueled vehicles. Other factors, including the growing initiatives towards connecting geographical extended locations with urban cities, continuous product innovations, the emerging tourism sector, and the inflating disposable income levels of the masses, are also positively influencing the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 3.65 Billion by 2027, exhibiting a CAGR of 5.6% during 2022-2027.
- On the basis of the base fuel type, the market has been categorized into petroleum fuels, compressed fuels, biofuels and others.
- Based on the dispenser system, the market has been segmented into submersible and suction.
- On the basis of the flow meter, the market has been classified into mechanical and electronics.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Beijing SANKI Petroleum Technology Co. Ltd, Bennett Pump Company, Censtar Science & Technology Corp. Ltd, Dover Corporation, Fortive Corporation, Korea EnE Co. Ltd, Scheidt & Bachmann GmbH, Tatsuno Corporation, Tominaga Mfg. Company and Zhejiang Lanfeng Machine Co. Ltd.
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