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Home Press Releases Fuel Dispenser Market to Expand at a Sizeable CAGR of 5.7% by 2030

Fuel Dispenser Market to Expand at a Sizeable CAGR of 5.7% by 2030

Introduction

The global fuel dispenser market is expected to rise during the projected period due to the rising demand for petroleum fuels and CNG products in emerging nations and the rapid growth of the dual-fuel or hybrid car sector. However, growing awareness and stronger government regulations about automobile emissions, a rise in the demand for electric vehicles, and a drop in the number of petroleum-based filling stations are anticipated to constrain the expansion of the fuel dispenser market. In contrast, technological advancements, research, and development toward highly efficient fuel dispenser systems are expected to create opportunities for market players.

Market Dynamic

Demand for Petroleum and CNG Products in Emerging Nations and Increase in Dual/Hybrid Vehicles to Drive the Global Market

Increasing demand for petroleum fuels and CNG products from emerging economies such as China, Brazil, India, Australia, and South Korea is the primary factor driving the fuel dispenser market. There is a rapid adoption of natural gas automobiles in these expanding economies and a rise in petroleum fuel use. This is anticipated to raise the demand for gas stations, hence driving the growth of the global fuel dispenser market throughout the forecast period.

Currently, automobile markets in developing nations such as India, China, and Brazil are rising significantly. In addition, advanced economies such as North America and Europe account for most automobile production and sales. China is the largest country-level market with the highest production and sales data since 2014 due to technological advancements, superior manufacturing facilities, and a rapid increase in population, contributing to the high demand for automobiles. This rapid growth in vehicle production and sales is predicted to raise the need for petroleum and other fuels, driving the growth of the global fuel dispenser market over the forecast period.

Rapid growth in hybrid vehicle production and sales is expected to drive the expansion of the global fuel dispenser market over the forecast period. In addition, hybrid vehicles have numerous advantages over conventional vehicles, including the potential to achieve zero emissions, economic benefits, the ability to run on alternative fuels, and power generation from regenerative braking, which all contribute to the expansion of the global fuel dispenser market.

Due to their ability to generate regenerative power while applying the brakes, hybrid vehicles are also more time- and safety-efficient than conventional vehicles. In addition, dual-fuel vehicles have a lower price, lower emissions, lower servicing, and smoother functioning, which are expected to increase their demand in the coming years, expanding the global fuel dispenser market. In addition, the advent of hydrogen gas-powered vehicles, which emit no carbon dioxide, need less energy than diesel fuel, and produce minimal noise and vibration, is predicted to boost market expansion throughout the forecast period.

Advancements in Research & Development and Technologies to Create Opportunities for Global Market

Technological developments such as the incorporation of digital innovations and automation, among others, are essential to the success of the global gasoline dispenser market. Moreover, introducing embedded electronic dispensing systems, cloud platforms, and other digital technologies in fuel dispensers is expected to create chances for market leaders. Demand from consumers for a seamless retail fueling experience, faster and more efficient fueling, and other features has shifted the attention of key players, leading to an increase in research and development activities focused on creating highly efficient fuel dispenser systems. This is anticipated to present significant potential for industry leaders in the fuel dispenser arena in the future years.

Regional Insights

Asia-Pacific is envisioned to hold the largest share of USD 1,899 million growth with the highest CAGR of 6.3%. Rising economies like China, Japan, India, and Australia are the primary drivers of the gasoline dispenser market in the Asia-Pacific region. This is because these countries' automotive and transportation industries are experiencing substantial expansion. This is a result of many significant players and manufacturing facilities available in these countries. Additionally, the increase in population and economic development in countries such as China, India, and others is raising the need for automobiles, pushing the expansion of the market for fuel dispensers throughout the forecast period. The increasing demand for gasoline, diesel, natural gas, and other fuels in Asia-Pacific, particularly in China and India, is driving the demand for fuel dispensers and is likely to drive the global market for fuel dispensers in the years to come.

Europe will hold a share of USD 1,058 million with a CAGR of 5.8% during the forecast period. In Europe, retail and commercial gas stations extensively use automated fuel dispensing systems. The market for fuel dispensers in Germany is the most lucrative in Europe. The increased demand for fuel dispensers from several applications, such as petrol, diesel, gasoline, and electric vehicle stations, is the primary factor driving growth in the European market throughout the forecast period. The demand for high-performance, fuel-efficient, and low-emission automobiles across the area, on the other hand, is fueling a massive expansion in the market for electric vehicles. In addition, strict government regulations have been implemented concerning car emissions, and environmental pollution is estimated to grow the market for electric vehicles, increasing the demand for electric charging dispensers over the forecast period. This growth in the market for electric vehicles is expected to drive the demand for electric charging dispensers.

Key Highlights

The global fuel dispenser market had a market share of USD 2,392 million in 2021, which is estimated to project a CAGR of 5.7% and reach USD 3,728 million during the forecast period.
Based on fuel type, petroleum fuel is estimated to have the largest share of USD 2,110 million with a CAGR of 6.2% by 2030.
Based on the dispenser system, the submersible system is expected to grow at a CAGR of 6.2% and reach USD 3,155 million by 2030.
Based on the flow meter, the electronics segment is expected to hold USD 3,454 million with a CAGR of 6.1% by 2030.
Based on regional analysis, the Asia-Pacific is expected to command a CAGR of 1,899 million and a CAGR of 6.3%.

Competitive Players

Competitive Players in the Market

Bennett Pump Company
Korea EnE Co., Ltd.
Canstar Science & Technology Corp. Ltd
Beijing SANKI Petroleum Technology Co., Ltd
Scheidt & Bachmann GmbH
Dover Corporation
Zhejiang Lanfeng Machine Co., Ltd
Tatsuno Corporation
Fortive Corporation
Tominaga Mfg. Company

Recent Developments

Market News

In 2022, Scheidt & Bachmann GmbH and Kuwait Petroleum North West Europe have agreed to introduce SIQMA innovations to Belgium and Luxembourg.
In 2022, Scheidt & Bachmann GmbH installed a parking management system in the Commercial Area annexed to the Shopping Centre Parque Ademuz in Valencia.
In 2022, Scheidt & Bachmann GmbH and Worldline will join hands and launch a new fuel solution for Europe. This solution will help fuel retailers deliver a more comprehensive payment solution for customers at petrol stations.

Segmentation

Global Fuel Dispenser Market: Segmentation

By Fuel Type

Petroleum Fuels
Compressed Fuels
Biofuels
Others

By Dispenser Type

Submersible System
Suction System

By Flow Meter

Mechanical
Electronics

By Region

North America
Europe
Asia-Pacific
LAMEA

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A fuel dispenser is a piece of equipment used at service stations and other fuel stations to refuel automobiles. Fuel dispensers are the machines used to pump liquid and gaseous fuels into vehicles. These fuels include gasoline, diesel, compressed natural gas (CNG), biofuels, ethanol, and hydrogen. A fuel dispenser system's electronic and mechanical components are its key components. Electronic components control displays, such as meter readings from sensors indicating gasoline volume, pressure, and delivered fuel cost. The mechanical component includes a fuel-regulating pump, valves, and an electric motor. These two components calculate the correct amount of fuel dispensed when refueling a vehicle. In rural and urban locations, fuel dispensers enable the dependable refueling of vehicles, storage tanks, and containers. The global fuel dispenser market is expected to rise during the projected period due to the rising demand for petroleum fuels and CNG products in emerging nations and the rapid growth of the dual-fuel or hybrid car sector. However, growing awareness and stronger government regulations about automobile emissions, a rise in the demand for electric vehicles, and a drop in the number of petroleum-based filling stations are anticipated to constrain the expansion of the fuel dispenser market. In contrast, technological advancements, research, and development toward highly efficient fuel dispenser systems are expected to create opportunities for market players. Market Dynamic Demand for Petroleum and CNG Products in Emerging Nations and Increase in Dual/Hybrid Vehicles to Drive the Global Market Increasing demand for petroleum fuels and CNG products from emerging economies such as China, Brazil, India, Australia, and South Korea is the primary factor driving the fuel dispenser market. There is a rapid adoption of natural gas automobiles in these expanding economies and a rise in petroleum fuel use. This is anticipated to raise the demand for gas stations, hence driving the growth of the global fuel dispenser market throughout the forecast period. Currently, automobile markets in developing nations such as India, China, and Brazil are rising significantly. In addition, advanced economies such as North America and Europe account for most automobile production and sales. China is the largest country-level market with the highest production and sales data since 2014 due to technological advancements, superior manufacturing facilities, and a rapid increase in population, contributing to the high demand for automobiles. This rapid growth in vehicle production and sales is predicted to raise the need for petroleum and other fuels, driving the growth of the global fuel dispenser market over the forecast period. Rapid growth in hybrid vehicle production and sales is expected to drive the expansion of the global fuel dispenser market over the forecast period. In addition, hybrid vehicles have numerous advantages over conventional vehicles, including the potential to achieve zero emissions, economic benefits, the ability to run on alternative fuels, and power generation from regenerative braking, which all contribute to the expansion of the global fuel dispenser market. Due to their ability to generate regenerative power while applying the brakes, hybrid vehicles are also more time- and safety-efficient than conventional vehicles. In addition, dual-fuel vehicles have a lower price, lower emissions, lower servicing, and smoother functioning, which are expected to increase their demand in the coming years, expanding the global fuel dispenser market. In addition, the advent of hydrogen gas-powered vehicles, which emit no carbon dioxide, need less energy than diesel fuel, and produce minimal noise and vibration, is predicted to boost market expansion throughout the forecast period. Advancements in Research & Development and Technologies to Create Opportunities for Global Market Technological developments such as the incorporation of digital innovations and automation, among others, are essential to the success of the global gasoline dispenser market. Moreover, introducing embedded electronic dispensing systems, cloud platforms, and other digital technologies in fuel dispensers is expected to create chances for market leaders. Demand from consumers for a seamless retail fueling experience, faster and more efficient fueling, and other features has shifted the attention of key players, leading to an increase in research and development activities focused on creating highly efficient fuel dispenser systems. This is anticipated to present significant potential for industry leaders in the fuel dispenser arena in the future years. Regional Insights Asia-Pacific is envisioned to hold the largest share of USD 1,899 million growth with the highest CAGR of 6.3%. Rising economies like China, Japan, India, and Australia are the primary drivers of the gasoline dispenser market in the Asia-Pacific region. This is because these countries' automotive and transportation industries are experiencing substantial expansion. This is a result of many significant players and manufacturing facilities available in these countries. Additionally, the increase in population and economic development in countries such as China, India, and others is raising the need for automobiles, pushing the expansion of the market for fuel dispensers throughout the forecast period. The increasing demand for gasoline, diesel, natural gas, and other fuels in Asia-Pacific, particularly in China and India, is driving the demand for fuel dispensers and is likely to drive the global market for fuel dispensers in the years to come. Europe will hold a share of USD 1,058 million with a CAGR of 5.8% during the forecast period. In Europe, retail and commercial gas stations extensively use automated fuel dispensing systems. The market for fuel dispensers in Germany is the most lucrative in Europe. The increased demand for fuel dispensers from several applications, such as petrol, diesel, gasoline, and electric vehicle stations, is the primary factor driving growth in the European market throughout the forecast period. The demand for high-performance, fuel-efficient, and low-emission automobiles across the area, on the other hand, is fueling a massive expansion in the market for electric vehicles. In addition, strict government regulations have been implemented concerning car emissions, and environmental pollution is estimated to grow the market for electric vehicles, increasing the demand for electric charging dispensers over the forecast period. This growth in the market for electric vehicles is expected to drive the demand for electric charging dispensers. Key Highlights The global fuel dispenser market had a market share of USD 2,392 million in 2021, which is estimated to project a CAGR of 5.7% and reach USD 3,728 million during the forecast period. Based on fuel type, petroleum fuel is estimated to have the largest share of USD 2,110 million with a CAGR of 6.2% by 2030. Based on the dispenser system, the submersible system is expected to grow at a CAGR of 6.2% and reach USD 3,155 million by 2030. Based on the flow meter, the electronics segment is expected to hold USD 3,454 million with a CAGR of 6.1% by 2030. Based on regional analysis, the Asia-Pacific is expected to command a CAGR of 1,899 million and a CAGR of 6.3%. Competitive Players in the Market Bennett Pump Company Korea EnE Co., Ltd. Canstar Science & Technology Corp. Ltd Beijing SANKI Petroleum Technology Co., Ltd Scheidt & Bachmann GmbH Dover Corporation Zhejiang Lanfeng Machine Co., Ltd Tatsuno Corporation Fortive Corporation Tominaga Mfg. Company Market News In 2022, Scheidt & Bachmann GmbH and Kuwait Petroleum North West Europe have agreed to introduce SIQMA innovations to Belgium and Luxembourg. In 2022, Scheidt & Bachmann GmbH installed a parking management system in the Commercial Area annexed to the Shopping Centre Parque Ademuz in Valencia. In 2022, Scheidt & Bachmann GmbH and Worldline will join hands and launch a new fuel solution for Europe. This solution will help fuel retailers deliver a more comprehensive payment solution for customers at petrol stations. Global Fuel Dispenser Market: Segmentation By Fuel Type Petroleum Fuels Compressed Fuels Biofuels Others By Dispenser Type Submersible System Suction System By Flow Meter Mechanical Electronics By Region North America Europe Asia-Pacific LAMEA