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Global Fuel Dispenser Market to Grow at a CAGR of 5.9% During 2021-2026, Aided by the Robust Growth of the Automotive Industry

According to a new report by EMR titled, ‘Global Fuel Dispenser Market Report and Forecast 2021-2026’, the global market for fuel dispenser attained a value of about USD 2.3 billion in 2020. The industry is further expected to grow at a CAGR of 5.9% in the forecast period of 2021-2026 to reach nearly USD 3.2 billion by 2026.

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:

  • The market, on the basis of fuel type, can be divided into petroleum fuels, compressed fuels, and biofuels, among others.
  • Based on dispenser system, the industry can be divided into submersible system and suction system.
  • The flow meters of fuel dispenser include mechanical and electronics.
  • The regional markets for fuel dispenser include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The expansion of fuel retailing, along with the extensive demand for energy, in both developing and developed countries is propelling the market growth.
  • The industry is being driven by the rising demand for mobile fuel stations owing to the growing trend of home delivery of fuels, hence, surging the demand for fuel dispensers.
  • The rapid digitisation of fuel dispensers by integrating various technologies, such as the Internet of things (IoT) and data analytics, to automate processes and enhance consumer experience is augmenting the industry growth. 
  • The development of smart fuel dispensers that can identify fuelling history of vehicles to provide significant insights during the refilling of fuels is invigorating the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for fuel dispenser for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the fuel types, dispenser systems, flow meters, and major regions of fuel dispenser.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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