Global Fuel Dispenser Market 2017-2021
About Fuel Dispensers
The global fuel dispenser market has been witnessing substantial growth in recent years, mainly due to the growth of the automotive industry in various regions. The growing per capita disposable incomes of consumers has also had a positive impact on the overall demand for fuel, as the fuel consumption rate has increased. Many consumers are buying multiple cars, which is leading to the increased consumption of fuel. In many developing nations, there are very few fuel stations and to meet the increasing demand for fuel, new fuel stations are being set up. This has led to the increased demand for fuel dispensers in developing regions. Additionally, the demand for green fuels, like CNG, LNG, and other environment-friendly fuels, is increasing. This has led to an increase in the setting up of CNG, LNG, and other types of fuel stations.
Technavio’s analysts forecast the global fuel dispenser market to grow at a CAGR of 5.36% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global fuel dispenser market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of fuel dispensers.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fuel Dispenser Market 2017-2021
Technavio recognizes the following companies as the key players in the global fuel dispenser market: Gilbarco, Censtar Science & Technology, and Dover
Other Prominent Vendors in the market are: Beijing Sanki Petroleum, Bennett Pump, Chengdu Huaqi Houpu Holding, DEM G. SPYRIDES, Scheidt & Bachmann, Tatsuno, and Zhejiang Datian machine
Commenting on the report, an analyst from Technavio’s team said: “Manufacturers are introducing many advanced fuel dispensers in the market, which are replacing old fuel dispensers. New fuel dispensers have interactive video screen, scanner, customer identification keypad, bar coding, and magnetic card terminal. By using magnetic card terminals that are installed, the staff of the fuel station need not carry credit/debit card machines. Some fuel dispensers have the facility to identify and record the details of customers. Since each customer is given unique identification number (UIN), they can keep track of their transactions. Some fuel dispensers also have interactive video screens. Customers can entertain themselves while filling fuel with the help of the interactive video screen installed on the fuel dispensers. Manufacturers are also introducing customized fuel dispensers according to the requirements of the retailers. Thus, many fuel station owners are replacing old fuel dispensers due to the advantages of new advanced fuel dispensers that are available in the market.”
According to the report, the increasing disposable income in various regions has led to an increase in the manufacturing of cars, trucks, and other vehicles globally. In Asia, the purchase of new vehicles increased by 21% in 2015 compared with 2014. In China, the purchase volumes of new vehicles increased by 32%. In Western Europe, the volume increased by 13.96 million units in 2015 from 13.2 million units. In 2015, 17.39 million cars were sold in the US, an increase of 5.77% compared with 2014. The increase in the number of vehicles has increased the consumption of fuel. This has led to an increase in the number of fuel stations globally.
Further, the report states that the demand for EVs is increasing globally. Every month, thousands of electric cars are sold. Nearly 6,500 electric cars are sold in the US every month. Tesla, one of the major electric car manufacturers, has already taken orders for more than 370,000 of Model 3. The increasing demand for petrol and decreasing resources for oil has led many governments to encourage the sales of electric cars by providing incentives and discounts. It is also possible that many governments may forbid the sales of cars that operate on fuels by the end of 2025.
Gilbarco, Censtar Science & Technology, Dover, Beijing Sanki Petroleum, Bennett Pump, Chengdu Huaqi Houpu Holding, DEM G. SPYRIDES, Scheidt & Bachmann, Tatsuno, and Zhejiang Datian machine.