Fuel Dispenser Market Expanding Steadily Toward $3.3 Billion

According to a new report published by Allied Market Research, The global fuel dispenser market size was valued at $2.4 billion in 2019, and is projected to reach $3.3 billion by 2027, growing at a CAGR of 5.7% from 2020 to 2027.

A fuel dispenser, commonly known as a gas pump, is a device that pumps fuel, such as gasoline or diesel, into vehicles. It typically includes a nozzle, a metering system, and a display for showing the amount of fuel dispensed and the cost.

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Asia-Pacific is expected to grow at the fastest rate, registering a CAGR of 5.9%, throughout the forecast period.

The key players operating and profiled in the report include Bennett Pump Company, Korea EnE Co., Ltd., Censtar Science & Technology Corp. Ltd, Beijing SANKI Petroleum Technology Co., Ltd, Scheidt & Bachmann GmbH, Dover Corporation, Zhejiang Lanfeng Machine Co., Ltd, Tatsuno Corporation, Fortive Corporation, and Tominaga Mfg. Company. Other players operating in the fuel dispenser industry are Neotec, Piusi S.p.A., Lafon Technologies, XL Techniques, Gemsl, and others.

Rapid urbanization and industrialization in developing economies across the globe is expected to rise the demand for fuels, which, in turn, is anticipated to drive the market growth during the forecast period.

Rise in disposable income result in higher consumer spending toward vehicles, which has increased the demand for dispensing systems in regions such as Asia-Pacific, Europe, and the Middle East.

Rise in demand for CNG and hydrogen vehicles across the globe, owing to rise in awareness and stringent government regulations toward vehicle emissions is expected to restrain growth of the petroleum-based dispenser market in the coming years.

Asia-Pacific garnered a dominant share in 2019, and is anticipated to maintain this trend during the forecast period. In addition, rise in urbanization and industrialization in countries such as China and India increase demand for fuels, which further drives growth of the fuel dispenser market during the forecast period.

On the basis of dispenser system, the submersible dispenser system segment held the largest market share of 76.8% and growth rate of 5.7%, in terms of revenue in 2019, and is expected to maintain its dominance during the forecast period. This growth is attributed to rise in demand for submersible fuel dispenser systems, owing to its advantages such as fast fueling, active air elimination, safety & ease of maintenance, simple servicing, and reliability.

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On the basis of flow meter, the electronics segment held the largest share, in terms of revenue, and is expected to grow at a CAGR of 5.8%. This is attributed to rise in demand for electronic fuel dispensers, owing to their high accuracy, reliability, and performance as compared to mechanical fuel dispensers.

Depending on fuel type, the petroleum fuels segment held the highest market share of around 51.3% in 2019, and is expected to maintain its dominance during the forecast period. This is attributed to rise in demand for petroleum fuels such as petrol, diesel, and kerosene from the automotive and transportation industry.

Fuel dispenser system consists of two main components, electronic and mechanical. Electronic components control displays, i.e., meter reading from sensors to display fuel volume, pressure, and price of fuel delivered.

Mechanical part consists of pump, valves, and electric motor that controls the fuel. These two parts works simultaneously while delivering fuel into a vehicle to deliver appropriate calculations of the fuel dispensed.

COVID-19 impact

The fuel dispenser market has witnessed steady growth in 2020, owing to the outbreak of the COVID-19 pandemic. The outbreak has negatively impacted various industries and countries across the globe.

The lockdown imposed across the globe, there is decrease in growth rate of industries such as transportation, railway, oil & gas, and energy.

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In Europe, economies, such as Germany, France, Spain, and Italy, are following stringent measures, such as maintaining social distance and limiting movements to prevent spread of coronavirus.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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