Press release
The Surge In Fuel Demand Driving Expansion Of The Fuel Dispenser Market: Strengthening the Growth Trajectory of the Fuel Dispenser Market
Fuel Dispenser
What Is the Expected CAGR for the Fuel Dispenser Market Through 2025?
In recent times, there has been consistent growth in the size of the fuel dispenser market. The market value is projected to rise from $2.66 billion in 2024 to $2.78 billion in 2025, marking a compounded annual growth rate (CAGR) of 4.4%. This expansion during the historic period can be accredited to global economic patterns, incorporation of data and analytics, improvements in safety measures, progress in the payment system, and the widening network of fuel stations.
What's the Projected Size of the Global Fuel Dispenser Market by 2029?
Strong expansion is predicted for the fuel dispenser market in the coming years, as it is projected to reach a valuation of $3.49 billion in 2029, with a compound annual growth rate (CAGR) of 5.8%. The growth anticipated during this forecasted period can be credited to a surge in demand for contactless solutions, adherence to regulatory standards and compliance, increase in mobility solutions, expansion of fuel centers, and commitment to environmental sustainability. Noteworthy trends to look out for during this period include adaptability to changing regulations, remote supervision and operation, compatibility with alternate fuels, integration of touchless payments, and improved user experience.
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Top Growth Drivers in the Fuel Dispenser Industry: What's Accelerating the Market?
The fuel dispenser market is projected to grow due to escalating fuel demand. Any material capable of producing heat or energy is called fuel. Fuel dispensers, which are used to pump liquid fuels such as oil, kerosene, gasoline, or diesel, into a vehicle, aircraft, storage tank, or portable container, are driving this market growth. The U.S. Energy Information Administration (EIA), a statistics-based agency of the Department of Energy, reported in September 2022 that global consumption of petroleum and liquid fuels was at 99.4 million b/d in August 2022, indicating a rise of 1.6 million b/d from August 2021. Additionally, a mean global consumption growth of 2.0 million b/d is predicted for 2023. As such, increased fuel demand is propelling the development of the fuel dispenser market.
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What Trends Will Shape the Fuel Dispenser Market Through 2029 and Beyond?
Leading entities in the fuel dispenser market like Dover Fueling Solutions (DFS) are focusing on cutting-edge technologies to maintain their competitive edge. For instance, in June 2022, this US-based company, known for creating fuel dispensing equipment, unveiled its latest product - the ProGauge MagLink LX Plus. This new generation automatic tank gauge (ATG) console comes with a series of notable enhancements such as smart touch and swipe technology, enhancing the user interaction and experience. The MagLink LX Plus, being DFS's most sophisticated console to date, offers increased scalability, adaptability, and integration. It also operates seamlessly with smart sensors like those using IntelliSense technology. Now, linking the consoles to forecourt equipment has become increasingly versatile for site owners, and a single user interface expands the monitoring scope.
What Are the Main Segments in the 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 Top Companies are Driving Growth 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
Which Regions Will Dominate the Fuel Dispenser Market Through 2029?
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
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