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The Asia Pacific region is witnessing a robust growth owing to the thriving automotive and industrial sectors. As these are some of the leading consumers of fuels, the demand for fuel dispensers is significantly surging, which is bolstering the market growth. Moreover, the expansion of fuel stations in emerging economies, such as India, Vietnam, and the Philippines, is leading to an increment in the deployment of fuel dispensers, which is accelerating the industry growth. The introduction of various stringent government regulations, along with the growing prices of fossil fuels, is escalating the demand for cost-effective and eco-friendly fuels such as compressed natural gas (CNG), which is also driving the industry growth.
Dover Corporation (NYSE: DOV), one of the leading companies in the market, announced the launch of DX Promote and DFS DX connected solution platforms in March 2021. The former platform enables retail fuelling stations to provide consumers an immersive digital experience through the display of targeted advertising, along with other entertainment and informational content, during fuelling. The solution platforms also transform fuel dispensers into a digital platform, hence enabling retailers to advertise their goods and services. DX Promote further aids in boosting in-store sales, on-site car washes, and other auto services to increase overall average per-visit revenue as well as consumer experience. Moreover, the platform is designed to streamline operations by simplifying the process to upload and change the promotional and media content in order to personalise it for consumers. The development of such innovative solutions is augmenting the market growth.
Market Analysis by Fuel Type, Dispenser System, Flow Meter, and Region:
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The major players in the global fuel dispenser market are Bennett Pump Company, Censtar Science & Technology Corp., Ltd., Dover Corporation, Fortive Corporation, and Korea EnE Co., Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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