Wilmington, Delaware, United States, Oct. 20, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - It is predicted that the global fuel dispenser market will progress at 4% CAGR during the forecast period, from 2020 to 2030. The rise in the usage of different types of fuel dispenser can be largely ascribed to rapid uptake of different fuels across a range of end-use sectors, continued global diversification of energy supplies, and introduction of several digital technologies.
Consumers now enjoy a higher quality of living owing to rising incomes, growing urbanization, and infrastructural improvements in developing nations. More individuals are buying automobiles. As a result, the demand for automotives is increasing quickly. The demand for fuels like diesel, gasoline, and compressed natural gas (CNG) also rises due to increasing vehicle usage. This is anticipated to present positive fuel dispenser market outlook.
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The use of automobiles has dramatically risen recently all across the globe. As a result, the number of fuel stations being built has also increased proportionately. This is likely to drive the global market for fuel dispenser in the years to come.
Due to the high fuel demand in the Asia Pacific, the region accounted for a sizeable fuel dispenser market share in 2019. The rise in fuel stations is anticipated to be spurred by China's rising fuel demand and strong automobile sales. The fuel dispenser market in China is thus predicted to grow as a result.
Key Findings of Market Report
- Presently, fuel merchants all over the world are increasingly eschewing traditional approaches and embracing technological advancements. In order to achieve better operating speed and improve consumer convenience, industry participants are increasingly adopting cloud solutions, analytics, and mobile platforms in the fuel dispenser market.
- It is predicted that fuel dispenser companies will focus on a number of parameters, including weight of multiple elements, size of the inlets, and rate of fuel flow, and ideal operating pressure. Moreover, due to higher standards of safety, remotely-operated systems are becoming more popular, according to prevailing market trends. Therefore, market participants are likely to concentrate on creating remotely operated fuel dispensers, which is expected to propel the global fuel dispenser market
- The demand for automobiles has been boosted by findings of oil, gas, and other fuels as a consequence of rising fuel prices and expanding population. Fuel costs have gone up as a result of this. Additionally, research is underway on a number of discoveries for the production of alternative fuels. The market for fuel dispenser is predicted to be driven by new gas and oil discoveries as well as the increase in shale gas production.
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Global Fuel Dispenser Market: Key Competitors
- Zhejiang Lanfeng Machine Co. Ltd.
- Scheidt & Bachmann GmbH
- Beijing Sanki Petroleum Technology Co. Ltd.
- Wayne Fueling Systems LLC
- Bennett Pump Company Gilbarco Inc.
- Tokheim Group S.A.S
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Global Fuel Dispenser Market: Segmentation
Type
- Suction System
- Submersible System
Flow Meter
- Mechanical
- Electronic
Fuel Type
- Petrol/Gasoline
- Diesel
- CNG
- Compressed Hydrogen
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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