Global Tank Gauge Systems for Fueling Stations Market 2017-2021

Overview of the global tank gauge systems for fueling stations market

Research analysis on the global tank gauge systems for fueling stations market identifies that the changing regulations in the oil and gas retail sector will be one of the major factors that will have a positive impact on the growth of the market. Price ceiling, market-determined retail fuel prices, and fixed price method are the three major methods used to determine retail fuel price, adopted by various countries. Retailers of fuel who adopt the market-determined fuel prices method are able to set their selling prices freely without any major restrictions. The government provides subsidies to the public OMCs because the price of the fuel is regulated. However, when the fuel prices are regulated, private refiners cannot sell fuel in the domestic retail market as incurs a loss for them. This drives the need for deregulation of fuel in certain countries. As a result, the private players are encouraged to enter the market, which in turn, will boost the number of retail outlets. This in turn, will result in an increased number of gas stations and high adoption of tank gauge systems including the tank level indicator, fuel management system, oil tank monitor, and oil tank level sensor. Technavio's market research analysts predict that this global market will post a revenue of close to USD 170 million by 2021.

The easy access to and availability of natural gas sources in emerging markets such as Latin America and Asia is driving the demand for fleet of natural gas-powered vehicles. Also, manufacturers in the automotive industry are keeping track of alternative fuels due to the growth in the market for electric vehicles (EV), triggering the adoption of natural gas-fueled vehicles. Natural gas is also used in lift trucks, light and heavy-duty trucks, buses, motorcycles, vans, and locomotives because it is environment-friendly and economic in comparison to petrol and diesel.

Competitive landscape and key vendors

The global tank gauge systems for fueling stations market is relatively concentrated due to the presence of key vendors. Vendors are focusing on distinguishing their product and service offerings through a clear and unique value proposition due to the increased competition in the market. They are also trying to enhance the product quality in terms of security of the system.

Key vendors in this market are -

• Censtar Science & Technology
• Dover
• Franklin Fueling Systems
• Veeder-Root

Other prominent vendors in the market include Blue1USA, Husky, U-Fuel, Willborn, and ZHENGZHOU WINDBELL MEASUREMENT AND CONTROL TECHNOLOGY.

Segmentation by end-user and analysis of the tank gauge systems for fueling stations market

• Diesel and petrol stations
• Natural gas stations

The sales volume of the automobile is growing due to the rapid urbanization and increase in disposable income of the people. The middle-class section of society is also increasingly investing in automobiles due to the reduction in the price of vehicles. Consequently, the demand for fueling stations will increase due to the rising number of vehicles on the road. The need for diesel and petrol in the developing economies is also increasing. This in turn, will boost the adoption of tank gauge system in the diesel and petrol stations segment. 

Segmentation by geography and analysis of the tank gauge systems for fueling stations market

• Americas
• APAC
• EMEA

The increasing economic growth in India and China is driving the demand for crude oil in APAC at an exponential rate. The consumption of oil in Japan is also increasing. In countries such as India, the use of CNG as a transport fuel is very high. In addition, an Indian company called Indraprastha Gas is focusing on increasing the number of CNG fueling stations. Furthermore, the installations of gas stations will increase due to the rising support from the government to use CNG-powered vehicles.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global tank gauge systems for fueling stations market?
• What are the key market trends impacting the growth of the global tank gauge systems for fueling stations market?
• What are the challenges to market growth?
• Who are the key vendors in the global tank gauge systems for fueling stations market?
• What are the market opportunities and threats faced by the vendors in the global tank gauge systems for fueling stations market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global tank gauge systems for fueling stations market?

Technavio also offers customization on reports based on specific client requirement.

According to our experts, an increase in the sales of vehicles and rising demand for oil and gas is expected to drive the growth of the global tank gauge system for fueling stations market. This upcoming report on global tank gauge system for fueling stations market offers deep insights into the heavy industry in terms of market segmentation, market share and size, forecast, and industry analysis. Our report for the heavy industry also focuses on major segments like engineering tools.

This market report on global tank gauge system for fueling stations market covers vendors like OPW Fuel Management Systems, Franklin Fueling Systems, Wayne Fueling Systems, Blue1USA, WINDBELL MEASUREMENT AND CONTROL TECHNOLOGY, U-Fuel, and Willborn to help the clients formulate robust strategies. Moreover, this report also covers geographies like the Americas, APAC, and EMEA.

Our market research team at Technavio follows an in-depth research methodology comprising of primary and secondary research methods and assess the market in terms of the trends and drivers influencing the growth of the engineering tools segment. This report on the global tank gauge system for fueling stations market also considers the growth of the related markets like diesel engines for construction and earthmoving market, which is expected to post an impressive CAGR of around 4% by 2021. The upcoming industry report on the global tank gauge system for fueling stations market also provides insights into fast-growing segments within the heavy industry, encompassing sectors like tools and components.

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.