Fuel Dispenser Market Research Report - Global Forecast till 2025

Global 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 2025

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

Market Overview


Fuel dispensing equipment releases and monitors liquid or gaseous fuel. These dispensers are used to pump liquid fuels such as gasoline, diesel, oil, or kerosene into a vehicle, storage tank, or portable container. Gaseous fuel dispensers may refuel hydrogen- or syngas-powered vehicles or machinery or be used to move gases from one location to another.


Global Fuel Dispenser Market is projected to value at USD 2,661 million by 2025 at an estimated CAGR of 5.40% during the forecast period, while it is the volume at 411.2 thousand units by 2025 at an estimated CAGR of 5.82% during the forecast period.


The global fuel dispenser market is multiplying due to the rapid adoption of natural gas vehicles and increasing consumption of petroleum products in emerging economies. However, the growth of the market may be hindered by the reducing number of fuel stations and rising sales of electric vehicles. The rising awareness about the adverse effects of vehicle emissions on the environment and increasing price of gasoline are driving the demand for natural gas vehicles (NGVs) as they reduce carbon monoxide emissions by more than 80% as compared to gasoline-powered vehicle. Governments in developing countries in Asia-Pacific are providing initial subsidies to build NGV refueling infrastructure. 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.


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.


Segmentation


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


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.


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).


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.


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.


Market Segmentation



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

  • By Type: Submersible and suction

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


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?



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.

The flourishing automobile industry globally is benefitting the progress of fuel dispensers to a great extent. The use of fuel dispensers is important in refueling application and also ensures safe filling and storage of various types of fuel. The global fuel dispenser market is expected to register a 5.52% CAGR during the forecast period from 2018 to 2023. Meanwhile, the market is anticipated to earn revenues worth USD 2,407.2 million in the forecast period. The fuel dispensers are typically used to dispense liquid fuels such as gasoline, oil, diesel, or kerosene into a storage tank, vehicle, or portable container. The rapid adoption of natural gas vehicles and increasing consumption of petroleum products in emerging economies is projected to contribute favorably to the fuel dispensers’ market in the forecast period.


The escalating awareness levels about the harmful effects of vehicle emissions on the environment and the increasing price of gasoline globally are boosting the demand for natural gas vehicles (NGVs) as they lessen carbon monoxide emissions by more than 80% when compared to gasoline-powered vehicle. Moreover, the governments in emerging countries in regions such as the Asia Pacific region are providing initial subsidies to build NGV refueling infrastructure. Therefore, the increasing use of NGVs is expected to drive the demand for fuel dispensers during the forecast period. Increasing automotive manufacturing and growing per capita income coupled with urbanization are powering the sales of vehicles, which in turn is anticipated to have a favorable effect on the fuel dispenser market. Furthermore, the incorporation of EMV cards equipped with computer chips in fuel dispensers is growing as the preferred payment methods are anticipated to provide profitable growth prospects to manufacturers of fuel dispensers during the forecast period. However, the market is anticipated to face certain hindrance due to the mounting sales of electric vehicles in the forecast period.


The segmentation of the fuel dispenser market globally is carried out on the basis of product, type, application, and region. The segmentation of the fuel dispenser market on the basis of product comprises of general fuel dispenser and self-service fuel dispenser. The general fuel dispenser market is estimated to lead the segment at a CAGR of 7.08% in the forecast period. On the basis of type, the fuel dispenser market is segmented into submersible and suction. The submersible segment is projected to exhibit a CAGR of 6.29% in the period of the forecast from 2018 to 2023. Based on application, the fuel dispenser market globally is segmented into petrol, diesel, biofuel, and others. The diesel segment is projected to display the fastest CAGR of 5.78% in the forecast period. The regions considered in the fuel dispenser market globally are Europe, North America, Asia Pacific, and Rest of the World.


Regional Analysis:


The regional analysis of the fuel dispensers market globally includes regions such as Europe, North America, Asia Pacific, and Rest of the World. The North American region was accredited with the principal market share of 52.41% in 2017, and a market worth of USD 918.4 million, and is expected to expand at a CAGR of 5.57% during the forecast period. The North American region is anticipated to be the prime market for fuel dispensers throughout the forecast period due to the rise in the level of disposable income and a growing passenger vehicle fleet in the region. The North American region also recorded the highest number of motor vehicles registered in 2017.


Additionally, the demand for fuel dispensers is anticipated to surge in the North American region as major manufacturers are refining their market share in the region. The European region was the next chief market in 2017, and was valued at USD 369.5 million in 2017; though it is projected to witness a CAGR of 5.61% in the forecast period. The European region is expected to benefit from the rapidly increasing demand for fuel dispensers in the automotive industry nations such as France, Germany and the UK which are projected to boost market development throughout the forecast period. Though, the Asia Pacific is projected to observe a peak CAGR of 5.79% in the duration of the forecast period. The main factor for this growth can be attributed to the urbanization taking place in the Asia Pacific region which has led to an amplified demand for passenger vehicles in recent years. The prosperous automotive industry in countries such as Japan, China, and India are considered as the main drivers for the progress of the fuel dispenser market in the Asia Pacific region.


Competition Tracking:


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


The competitors are controlling the growth trajectory of the market due to their extensive product range, extensive industry knowledge, and geographic spread. The competitors may also strengthen their visibility worldwide through strategic acquisitions and partnerships through the forecast period. The contenders who have access to improved technologies are developing exclusive and advanced services and products, which could undermine their competitors’ offerings. The competitive setting in the market is expected to strengthen further due to the growing number of partnerships and collaborations in the coming years.a

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.