DUBLIN--(BUSINESS WIRE)--The "Global Fuel Dispenser Market (2021-2026) by Fuel Type, Type, Flow Meter, Application, Product, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Fuel Dispensers Market is estimated to be USD 2.61 Bn in 2021 and is expected to reach USD 3.68 Bn by 2026, growing at a CAGR of 7.1%.
Market Dynamics
Key factors such as an increase in the adoption of dual fuel and multi-fuel vehicles, reduction, and rise in the sale of natural gas vehicles (NGVs) are primary reasons driving the market growth. Similarly, the increasing number of refilling stations and demand for reducing fuel loss have supported the market growth. Moreover, the advancement in dispensing technologies followed by the demand for gasoline-based products and increasing demand for automobiles are likely to create growth opportunities for the market.
However, factors such as high initial cost and continuous maintenance are likely to restrain the market growth. Moreover, increasing awareness programs for adopting electric vehicles is a key challenge to the market.
Market Influencers
Drivers
- Increasing Adoption of Dual Fuel and Multi-Fuel Vehicles
- Demand for Reducing Fuel Loss
- Rise in Sale of Natural Gas Vehicles (NGVs)
- Increasing Number of Refilling Stations
Restraints
- Misfuel or Crossovers, and Theft Associated
- High Initial Costs and Constant Maintenance
Opportunities
- Advancements in Dispensing Technologies
- Demand for Gasoline-Based Products
Challenges
-
Increasing Awareness Programs for Adopting Electric Vehicles
Market Segmentation
The Global Fuel Dispenser Market is segmented further based on Fuel Type, Type, Flow Meter, Application, Product, and Geography.
By Fuel Type, the market is classified as Biofuels, Gasoline, Ethanol Fuel, Compressed Hydrogen, LPG, and CNG.
By Type, the market is classified as Submersible Systems and Suction Systems.
By Flow Meter, the market is classified as Mechanical and Electronic.
By Product, the market is classified as Fleet Fuel Dispenser, Mobile Fuel Dispenser, and Retail Fuel Dispenser.
By Geography, APAC is projected to lead the market.
Recent Developments
1. Dover Fueling Solutions (DFS), a part of Dover Corporation has announced the launch of the DFS DMP Probe as a fuel management solution for fuel retailers. 15th September 2020
Companies Mentioned
- Beijing Sanki Petroleum Technology
- Bennett Pump
- Censtar Science & Technology
- Dover Fueling Solutions
- Fortive
- Gilbarco Veeder-Root
- Henshen Machinery
- Kaisai
- Korea EnE
- Lanfeng
- Neotec
- Piusi
- Repos Energy
- Sanki
- Scheidt & Bachmann Tubs
- Spyridis
- Tatsuno
- Tokheim
- Tominaga
- Wayne (Dover)
- Zhejiang Datian Machine
For more information about this report visit https://www.researchandmarkets.com/r/yhw63q
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