Press release
Fuel Dispenser Market Expansion, Future Growth Rate, Industry Insights, Top Trends And Forecast To 2033
Fuel Dispenser Market Overview
Fuel Dispenser Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $3.32 billion In 2028 At A CAGR Of 5.5%.
The fuel dispenser market size has grown strongly in recent years. It will grow from $2.54 billion in 2023 to $2.68 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to global economic trends, data and analytics integration, enhanced safety measures, payment system evolution, expansion of fuel stations..
The fuel dispenser market size is expected to see strong growth in the next few years. It will grow to $3.32 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to demand for contactless solutions, regulatory standards and compliance, rise in mobility solutions, expansion of fueling infrastructure, environmental sustainability.. Major trends in the forecast period include adaptability to changing regulations, remote monitoring and management, compatibility with alternative fuels, integration of contactless payment, enhanced user experience..
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Fuel Dispenser Market Major Segments
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
Key Driver - The Surge In Fuel Demand Driving Expansion Of The Fuel Dispenser Market
Rising demand for fuel is expected to propel the growth of the fuel dispenser market going forward. Fuel refers to any material substance that can be used to generate heat or power. Fuel dispensers are employed to pump liquid fuels into a vehicle, aircraft, storage tank, or portable container, such as gasoline, diesel fuel, oil, or kerosene. For instance, in September 2022, according to a report shared by the U.S. Energy Information Administration (EIA), a US-based statistical agency of the Department of Energy, 99.4 million b/d of petroleum and liquid fuels were reportedly consumed globally in August 2022, an increase of 1.6 million b/d from August 2021. It is expected to have an increase in global consumption of 2.0 million b/d on average in 2023. Therefore, the rise in demand for fuel is driving the growth of the fuel dispenser market.
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Prominent Trend - Dover Fueling Solutions Unveils Progauge Maglink Lx Plus For Enhanced Fuel Dispensing Experience
Major companies operating in the fuel dispenser market are focused on innovative new technologies to sustain their position in the market. For instance, in June 2022, Dover Fueling Solutions (DFS), a US-based developer of fuel dispensing equipment, launched the ProGauge MagLink LX Plus, a next-generation automatic tank gauge (ATG) console. MagLink LX Plus offers a number of significant upgrades, including clever touch and swipe technology, which gives the user an immersive and interactive experience. The MagLink LX Plus is DFS' most advanced and feature-rich console so far, offering improved scalability, versatility, and connectivity. With intelligent sensors, such as those based on IntelliSense technology, it works effortlessly. The ability to link consoles to forecourt equipment is now even more flexible for site owners, and a single user interface now makes it possible to monitor a wider area.
Fuel Dispenser Market Players
Major companies operating in the fuel dispenser market report are 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 Lanfeng Biochemical Co. Ltd., Jiangsu Furen Group, Wayne Fueling Systems LLC, Sanki Petroleum Technology Co. Ltd., 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 .
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the fuel dispenser market in 2023. The regions covered in the fuel dispenser market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Fuel Dispenser Market Report Structure
3. Fuel Dispenser Market Trends And Strategies
4. Fuel Dispenser Market - Macro Economic Scenario
5. Fuel Dispenser Market Size And Growth
…..
27. Fuel Dispenser Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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