Fuel Dispenser Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2020-2024

The fuel dispenser market share is expected to increase by USD 1.42 million from 2021 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.49%.

This fuel dispenser market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers fuel dispenser market segmentation by product (submersible and suction) and geography (APAC, North America, Europe, and South America). The fuel dispenser market report also offers information on several market vendors, including Beijing SANKI Petroleum Technology Co. Ltd., Bennett Pump Co., Censtar Science & Technology Corp. Ltd., Dover Corp., Gilbarco Inc., HENSHEN MACHINERY Co. Ltd., Scheidt & Bachmann GmbH, SPYRIDIS GROUP, Tatsuno Corp., and Zhejiang Datian machine Co. Ltd. among others.

What will the Fuel Dispenser Market Size be During the Forecast Period?

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Fuel Dispenser Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing inbound and outbound tourism is notably driving the fuel dispenser market growth, although factors such as decline in number of fuel stations may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the fuel dispenser industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Fuel Dispenser Market Driver

The increasing inbound and outbound tourism has been instrumental in driving the fuel dispenser market growth. Globally, there has been significant growth in the travel and tourism industry. Increased disposable incomes and easy access to tourist destinations are factors that are making it easier for many middle-class people to get information on various places and make online hotel and flight bookings.The rise in tourism has brought about increasing competition among travel agents worldwide, which has, in turn, has led to reduced prices of tour and travel packages. This has increasingly led to the growth in the number of international and domestic tourists globally.Increased tourism has led to an increase in demand for more transportation services globally. This has, in turn, led to an increase in demand for fuel, and thus, fuel stations. The increase in fuel stations will, in turn, lead to an increase in demand for fuel dispensers globally.

Key Fuel Dispenser Market Trend

Increased national and international transportation is another key driver augmenting the growth of the fuel dispenser market growth. The global logistics market is expected to grow at a rapid rate during the forecast period, mainly driven by the increase in import and export activities.Companies in various major countries, including the US, the UK, Germany, and China, are outsourcing their manufacturing units to countries where lower costs are incurred.These countries have also recorded an increase in domestic consumption and are driving the demand in the market. Also, the huge demand is a result of economic growth and globalization, which require manufacturers to import and export their raw materials and finished goods worldwide. The increase in demand for supply chain demands efficient road freight, rail freight, sea freight, and other such means of transportation. This, in turn, will increase the demand for fuel. To cater to the increasing demand, many fuel stations are being opened globally. Thus, the demand for fuel dispensers has also increased.

Key Fuel Dispenser Market Challenge

A decline in the number of fuel stations is a major hindrance to the fuel dispenser market growth. The number of fuel stations is declining in various regions globally. The number of fuel stations in many Canadian metropolitan cities has declined in the past 15 years. In the past two decades, the number of gas stations has declined by 40% in Canada. The number of retail fueling sites in the US fell from around 200,000 in 1994 to 150,000 in 2019. One of the prime reasons for the decline in the number of fuel stations is the exceedingly high land prices. Owners of retail fueling stations are attracted to sell their land to developers for giant premiums, rather than operating fuel stations with modest profits. Additionally, there is volatility in the wholesale price of gasoline. Fuel retailers' profitability decreases as wholesale prices rise and increase when wholesale prices fall. Selling a gallon of gasoline costs a retailer about 12 to 16 cents. With a five-year average markup of 18.9 cents, the retailer will have about 3-5 cents per gallon in profit on average. Due to such low profits, retailers prefer to sell their gas stations to land developers. Thus, the closing of many fuel stations and low profits will discourage other fuel station operators from opening new fuel stations, and this will affect the demand for new fuel dispensers globally.

This fuel dispenser market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global fuel dispenser market as a part of the global specialized consumer services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the fuel dispenser market during the forecast period.

Who are the Major Fuel Dispenser Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Beijing SANKI Petroleum Technology Co. Ltd.
• Bennett Pump Co.
• Censtar Science & Technology Corp. Ltd.
• Dover Corp.
• Gilbarco Inc.
• HENSHEN MACHINERY Co. Ltd.
• Scheidt & Bachmann GmbH
• SPYRIDIS GROUP
• Tatsuno Corp.
• Zhejiang Datian machine Co. Ltd.

This statistical study of the fuel dispenser market encompasses successful business strategies deployed by the key vendors. The fuel dispenser market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The fuel dispenser market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Fuel Dispenser Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the fuel dispenser market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of global specialized consumer services market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Fuel Dispenser Market?

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41% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for fuel dispenser market in APAC. Market growth in this region will be faster than the growth of the market in regions such as North America and Europe.

Steady economic growth in emerging countries like China and India will facilitate the fuel dispenser market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

COVID-19-related lockdowns and social distancing norms in the region significantly impacted the demand for transportation fuels, such as gasoline and diesel, in 2020. The mobility of people was restricted due to extended lockdowns and a rise in the adoption of work-from-home culture in the region. This had a trickle-down effect on the demand for fuel dispensers at petrol stations, which hampered the growth of the market in the region. However, with a rise in the demand for transportation fuels and relaxations in lockdown norms, the regional market is expected to grow substantially in the coming years.

What are the Revenue-generating Product Segments in the Fuel Dispenser Market?

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The fuel dispenser industry share growth by the submersible segment will be significant during the forecast period. A submersible fuel dispenser is submerged into the fuel tank and supply fuel to other systems in the fuel station. It is a kind of pumping device, which consists of a hermetically sealed motor. This motor is coupled to a pump body, where the whole assembly is submerged into the fuel (to be pumped). It is commonly used globally due to its low installation and maintenance costs.

This report provides an accurate prediction of the contribution of all the segments to the growth of the fuel dispenser market size and actionable market insights on post COVID-19 impact on each segment.

 

Fuel Dispenser Market Scope
Report Coverage	Details
Page number	120
Base year	2019
Forecast period	2020-2024
Growth momentum & CAGR	Accelerate at a CAGR of 5.49%
Market growth 2020-2024	$ 1.42 million
Market structure	Fragmented
YoY growth (%)	4.41
Regional analysis	APAC, North America, Europe, and South America
Performing market contribution	APAC at 41%
Key consumer countries	US, China, India, Germany, Japan, and France
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Beijing SANKI Petroleum Technology Co. Ltd., Bennett Pump Co., Censtar Science & Technology Corp. Ltd., Dover Corp., Gilbarco Inc., HENSHEN MACHINERY Co. Ltd., Scheidt & Bachmann GmbH, SPYRIDIS GROUP, Tatsuno Corp., and Zhejiang Datian machine Co. Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Fuel Dispenser Market Report?

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive fuel dispenser market growth during the next five years
• Precise estimation of the fuel dispenser market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the fuel dispenser industry across APAC, North America, Europe, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of fuel dispenser market vendors

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