Fuel Dispenser Market Research Report - Global Forecast till 2030

Fuel Dispenser Market Research Report: Information by Product (General Fuel Dispenser and Self-Service Fuel Dispenser), Type (Submersible and Suction), Application (Petrol, Diesel, Biofuel and others) and Region (North America, Europe, Asia & Pacific and RoW) - Forecast till 2030

ID: MRFR/IA - E/5553-CR | July 2019 | Region: Global | 162 pages         

Fuel Dispenser Market

Fuel Dispenser Market size is expected to rise at a CAGR of 5.40% with a value of USD 2,661 million, and its overall volume is 411.2 thousand units with a CAGR of 5.82% over the projected quarters of 2022-2030

Segmentation

By Product General Fuel Dispenser Self-Service Fuel Dispenser
By Type Submersible Suction
By Application Petrol Diesel Biofuel others

Key Players

  • Gilbarco Inc. (US)
  • Dover Fueling Solutions (US)
  • Tatsuno Corporation (Japan)
  • Bennett Pump Company (US)
  • and Scheidt & Bachmann Tubs d.o.o. (Croatia)
  • NEOTEC (Greece)
  • LanFeng Co. Ltd (China)
  • Piusi SpA (Italy)
  • Beijing Sanki Petroleum Technology Co. Ltd (China)
  • Censtar Science & Technology Corp. Ltd (China)
  • Tominaga Mfg Co. (Japan)
  • Korea EnE Co. Ltd (Seoul)
  • and Zhejiang Datian Machine Co. Ltd (China)

Drivers

  • Updated Fuel Dispensers With EMV
  • Rapid Adoption Of Natural Gas Vehicles
  • Increasing Consumption Of Petroleum Products In Emerging Economies
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The global fuel dispenser market size is expected to rise at a CAGR of 5.40% with a value of USD 2,661 million, and its overall volume is 411.2 thousand units with a CAGR of 5.82% over the projected quarters of 2022-2030.


Fuel Dispenser Market Overvew


The fuel dispenser refers to the devices used at the fuel stations to pump and monitor liquid or gaseous fuel. It is used for dispensing various fuels, such as petrol, diesel, ethanol fuel, Kerosene, biofuels and natural gas, into automobiles, aircraft, storage tanks and portable containers. It consists of numerous electronic and mechanical components, including the hydraulic display meters, hoses, pumps, valves and nozzles. The rotary pump in the hydraulic section of the dispenser draws the fuel from the storage tank, and a pivoted valve ensures that the fuel flows smoothly through the dispenser. It also ensures that the correct amount of fuel is dispensed into the vehicle tank.


The significant growth of the automotive industry across the globe is one of the key factors that create a positive outlook for the market. However, the increasing awareness among the masses regarding biofuels provides the thrust to the market's growth. The governments of both developed and developing economies are implementing favorable policies and offering subsidies to promote the utilization of hydrogen and compressed natural gas-fueled vehicles.


The increase in demand for NGVs coupled with rising government initiatives is leading major automotive OEMs to increase their focus on NGV design and manufacturing. In 2017, Volkswagen signed a joint declaration of intent to expand CNG use in Europe with a focus on Germany to expand its CNG vehicles to 1 million by 2025 along with increasing the number of CNG filling stations from 900 to 2,000 in the same timeframe. Therefore, the increasing use of NGVs is expected to drive the demand for fuel dispensers during the forecast period. However, the production and sale of vehicles are increasing across the globe. However, there has been a steep decline in the number of fuel stations. This can be attributed to decreasing profit margins, increasing real estate prices, rising sales of electric vehicles, and the introduction of new mobile fuel delivery systems. Moreover, the use of fuel dispensers is limited to gasoline-powered automobiles and NGVs. Hence, the increasing sales of electric vehicles are expected to restrict the demand for fuel dispensers during the forecast period.


Fuel Dispenser Market Key Competitors


The key players of the global fuel dispenser market are Gilbarco Inc. (US), Dover Fueling Solutions (US), Tatsuno Corporation (Japan), Bennett Pump Company (US), and Scheidt & Bachmann Tubs d.o.o. (Croatia), NEOTEC (Greece), LanFeng Co., Ltd (China), Piusi SpA (Italy), Beijing Sanki Petroleum Technology Co., Ltd (China), Censtar Science & Technology Corp., Ltd (China), Tominaga Mfg Co. (Japan), Korea EnE Co., Ltd (Seoul), and Zhejiang Datian Machine Co., Ltd (China).


Industrial News



  • With the increase in carbon footprint, governments across the globe are concentrating more on greener fuels like compressed natural gas to reduce the dependency on petroleum products to have a low energy cost and control the rising air pollution with the increasing number of vehicles.

  • For instance, Europe is estimated to have a CAGR growth of 20% by 2030 in the CNG vehicles count. Thus, factors such as supportive government initiatives and the rising population of vehicles across the globe accelerate the natural gas applications that are expected to create significant opportunities for the CNG dispenser market to grow in the upcoming years.


The global fuel dispenser market is expected to witness significant growth during the forecast period. In 2018, the global fuel dispensers market was led by North America, followed by Europe and Asia-pacific. North America is expected to be the largest market for fuel dispensers during the forecast period. The growth fuel dispenser market in the region is driven by a rise in disposable income and an increasing passenger vehicle fleet. This region also had the highest number of motor vehicles registered in 2017. Furthermore, the demand for fuel dispensers is expected to increase in North America as major manufacturers such as Bennett Pump Company and Gilbarco Inc.


Europe held a significant share of the fuel dispenser market in 2017. Rapidly growing demand for fuel dispensers in the automotive industry in Germany, the UK, and France are expected to propel the market growth during the forecast period.


Fuel Dispenser Market Segmentation


The global fuel dispenser market has been segmented based on the product, type, application, and region.



  • By Product: General fuel dispenser and self-service fuel dispenser

  • By Type: Submersible and suction

  • By Application: Petrol, diesel, biofuel, and others


The global fuel dispenser market by product has been segmented into general fuel dispenser and self-service fuel dispenser. Among these products, in 2018, the global market was led by general fuel dispenser segment and is projected to led throughout the forecast period. General fuel dispensers are the conventional type of dispensers used at filling stations. These dispensers are operated by attendants. The market in Asia-Pacific is expected to showcase substantial growth during the forecast period due to urbanization in China and India. The middle-class population in Asia-Pacific is increasingly purchasing vehicles on account of the rising per capita disposable incomes. These are the primary factors driving the growth of the general fuel dispenser market.


On the basis of type, the market has been segmented into submersible and suction. Among these products, the submersible segment has accounted for the largest market share, followed by suction. Submersible pressure pumps operate using pressure technology to dispense fuel. In this technology, every underground fuel tank has a single pressure outlet which is connected to the fuel dispensing units in the filling station. Additionally, the installation, maintenance, and service costs of submersible pressure pump systems are considerably lower than the alternative. This is the primary factor driving the growth of the submersible segment of the global fuel dispenser market. Submersible pumps are convenient to use in filling stations where demand is high, and multiple fuel points are available.


On the basis of application, the global fuel dispenser market has been segmented into petrol, diesel, biofuel, and others. In 2018, the petrol segment dominated the market and projected to be dominant during the forecast period. The use of fuel dispenser for pumping gasoline is very high as gasoline is widely being used as a transportation fuel. According to the US Energy Information Administration, in 2017, the Americas used around 143,000 million gallons of motor gasoline and 173 million gallons of aviation gasoline. Most of the vehicles such as cars, sport utility vehicles, light trucks, motorcycles, and small aircraft use gasoline as a primary fuel across the world.


Fuel Dispenser Market Regional Analysis


On the basis of region, the global fuel dispenser market is segmented into North America, Europe, Asia-Pacific (APAC), and the rest of the world (RoW).


Global Fuel Dispenser Market, by Region, 2018  Fuel Dispenser Market

Source: MRFR Analysis




Asia-Pacific is expected to witness significant growth in the global fuel dispenser market. Urbanization in Asia-Pacific has led to an increased demand for passenger vehicles. The booming automotive industry in China, Japan, and India is the main driver for the growth of the fuel dispenser market in the region. In Asia-Pacific, China is the largest market for fuel dispensers. The demand for fuel dispensers is increasing in the automotive and transportation industry. The automotive and transportation industry has witnessed remarkable growth in the last five years, with an increase in new vehicles registrations. The fuel dispenser market in China was concentrated owing to the presence of large players such as Censter Science & Technology Corp., Ltd and Zhejiang Datian Machine Co., Ltd.


The rest of the world includes the Middle East & Africa and Latin America. In this region, the entry of new players, as well as the expansion of sales networks by existing players, is resulting in the increased installation of fuel dispenser kiosks. In the Middle East & Africa, rising investments by major oil & gas companies such as Schlumberger and Shell in the region’s downstream oil & gas industry has led to opportunities for fuel dispenser manufacturers. 


Fuel Dispenser Market Synopsis 


The global fuel dispenser market has been segmented based on the product, type, application, and region. On the basis of product, segmented into general fuel dispenser and self-service fuel dispenser. Among these products, the general fuel dispenser segment is projected to be dominant throughout the forecast period, whereas the self-service fuel dispenser segment has registered as the fastest growing technology. On the basis of type, in 2018, the submersible segment was dominated by the global market, followed by suction. On the basis of application, the petrol segment is projected to be dominant throughout the forecast period. On the basis of region, North America has accounted for the largest market for fuel dispenser market followed by Europe and Asia-Pacific. 


Key Questions Addressed by the Report



  • What was the historic market size (2018)?

  • Which segmentation (product/type/application) is driving market growth?

  • What will be the growth rate by 2025?

  • Who are the key players in this market?

  • What are the strategies adopted by key players?



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2025: USD 2,661 million
  • 2030 : Significant value
  •   CAGR   5.82% CAGR (2022-2030)
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Product, Type, Application
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Gilbarco Inc. (US), Dover Fueling Solutions (US), Tatsuno Corporation (Japan), Bennett Pump Company (US), and Scheidt & Bachmann Tubs d.o.o. (Croatia), NEOTEC (Greece), LanFeng Co., Ltd (China), Piusi SpA (Italy), Beijing Sanki Petroleum Technology Co., Ltd (China), Censtar Science & Technology Corp., Ltd (China), Tominaga Mfg Co. (Japan), Korea EnE Co., Ltd (Seoul), and Zhejiang Datian Machine Co., Ltd (China)
      Key Market Opportunities   Updated Fuel Dispensers With EMV
      Key Market Drivers

  • Rapid Adoption Of Natural Gas Vehicles
  • Increasing Consumption Of Petroleum Products In Emerging Economies


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    Frequently Asked Questions (FAQ) :

    The global fuel dispenser market is snowballing because of the rapid adoption of natural gas vehicles, as well as the increasing consumption of petroleum products, which is happening in emerging economies.

    It is the reducing number of fuel stations along with rising sales of electric vehicles is the main factor restraining the growth of the market.

    North America could be the largest market for fuel dispensers during the forecast period and snowball as well.

    Europe held an essential share of the fuel dispenser market in 2017. Since then, due to the rapidly growing demand for fuel dispensers in the automotive industry, mainly in the countries of Germany, the UK, and France are propelling market growth.

    Global Fuel dispensers Market- Competitive Landscape


    Market Research Future includes following key players for global Fuel dispensers market research study: NEOTEC, LanFeng Co., Ltd, Piusi SpA, Beijing Sanki Petroleum Technology Co., Ltd, Censtar Science & Technology Corp., Ltd, Tominaga Mfg Co., Korea EnE Co., Ltd, and Zhejiang Datian Machine Co., Ltd.


    The market share analysis is derived by considering various factors such as financial position, segmental R&D investment, product innovations, corporate strength, product portfolio, strategy analysis, and, key innovations in the market among other factors. The major players holding prominent position in the Market are Gilbarco Inc., Dover Fueling Solutions, Tatsuno Corporation, Bennett Pump Company, and Scheidt & Bachmann Tubs d.o.o., among others.


    According to MRFR analysis, Gilbarco Inc.  operates as a subsidiary of Fortive Corporation. The company is one of the leading manufacturers of fueling and convenience store equipment such as fuel dispensers. Its product portfolio covers fuel dispensers, point-of-sale systems, payment systems, forecourt merchandising, and support services. The company has increased investments in research and development to meet the growing demand for advanced technology in fuel dispensers


    Dover Fueling Solutions is a part of Dover Corporation. It manufactures fuel dispensers and is one of the leading providers of fuel retailing solutions. The company offers the ClearView, Fairbanks, ProGauge, Tokheim, Wayne Fueling Systems, and OPW’s Fuel Management Systems brands of fuel dispensers. The company aims at the diversification of its product portfolio through acquisitions and joint ventures. It targets key growing economies such as India, China, and other Asian countries to expand its global footprint.


    Tatsuno Corporation is a global manufacturer of products for the petrol industry. The company offers fuel dispensers for gasoline, diesel, LPG, CNG, and hydrogen to retail and commercial fueling customers across the world. In Japan, it provides fuel dispensers and support including planning and construction of gas stations and related facilities. It also offers inspections and maintenance of sold products. The company is engaged in environment-related activities such as soil analyses and remediation. The company plans to invest in product development to improve design and accuracy and integrate modern technologies and functions.


    Bennett Pump Company is a wholly owned subsidiary of Hines Corporation. It is a global manufacturer of retail and commercial fuel dispensers and components. The company’s product portfolio includes dispensers for petrol, diesel, LNG, hydrogen, and CNG. It focuses on product development and expansion.


    Scheidt & Bachmann Tubs d.o.o. (Scheidt & Bachmann Tubs) is a joint stock company for Scheidt & Bachmann GmbH and Tubs d.o.o. The company operates both independently and as part of the TUBS d.d. group. Scheidt & Bachmann Tubs manufactures and distributes fuel dispensers and parts. Its portfolio includes maintenance of fuel stations, renovation and development of fuel dispensers, and installation of pipelines onsite and at factories. It focuses on expansion through collaborations and partnerships with companies in the petrol industry. It also invests in new product development and advanced technologies for fuel dispensers and petrol stations.