Fuel Dispenser Market to Reach USD 2.97 Billion by 2027; High Demand for Alternative Fuel to Control Emission & Surge Fuel Efficiency will Boost Growth

The global fuel dispenser market size is projected to reach USD 2.97 billion by 2027. The growing demand for alternative fuels for emission control, fuel efficiency, and cost-effectiveness is set to occur because of the expansion of the automotive industry worldwide. It is set to propel the need for fuel dispensers in the near future. Fortune Business Insights™ provided this information in a new study, titled, “Fuel Dispenser Market Size, Share & COVID-19 Analysis, By Fuel Type (Petrol/Gasoline, Diesel, CNG, and Others), By Dispenser System (Submersible System and Suction System), By Flow Meter (Mechanical and Electronic), and Regional Forecast, 2020-2027.” The study further mentions that the market stood at USD 2.54 billion in 2019. But, it is set to exhibit a CAGR of 5.7% during the forecast period between 2020 to 2027.

Dover Fueling Solutions Launches DFS Anthem UX™ in North America

In July 2020, Dover Fueling Solutions (DFS), a developer of advanced fuel dispensing equipment based in the U.S., unveiled its latest user experience platform named DFS Anthem UX™. It will be exhibited on DFS’ Wayne Ovation® fuel dispenser in North America. It features multiple media options, multi-language selection, personalized content, super-intuitive functionality, and touchscreen display.

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As per one of the company officials, “This new product is set to transform customer experiences. It would deliver retailers all the required data and tools for maximizing the usage of target advertising and promotions.” Such technological advancements are anticipated to drive the growth of the market.

Emergence of Technologically Advanced Fuel Dispensers to Bolster Growth

Several manufacturers are creating technologically advanced fuel dispensers. These are helping to attend more vehicles at one time for pumping fuel. These are equipped with numerous state-of-the-art features, such as barcoding, scanners, magnetic card terminals, video screens, and customer identification keypads. However, the market is expected to showcase hindrance in the near future because of the COVID-19 pandemic. It is set to decline the demand for fuel from the transportation sector.

Key Players Aim to Gain Competitive Edge by Introducing Unique Technologies

The market for fuel dispensers is consolidated with the presence of the leading companies, namely, Tokheim, Tatsuno Corporation, Wayne Fueling Systems, LLC, and Gilbarco Veeder-Root. They are persistently striving to gain a competitive edge by strengthening their distribution networks and improving their existing product offerings. Apart from that, some of the others are introducing novel technologies in fuel dispensers to fulfill the rising demand for enhanced customer experiences.

Fortune Business Insights™ lists out the names of all the fuel dispenser manufacturers present in the global market. They are as follows:

• Gilbarco (North Carolina, US)
• Wayne Fueling Systems (Texas, US)
• Tatsuno Corporation (Tokyo, Japan)
• Tokheim (Dundee, Scotland)
• Censtar Science and Technology Corporation (Zhengzhou city, China)
• Zhejiang Datian Machine Co., Ltd (WENZHOU, ZHEJIANG)
• Bennett Pump (Michigan, US)
• Dover Fueling Solutions (Texas, US)
• Scheidt and Bachmann (Mönchengladbach, Germany)
• Neotec (Athens, Greece)
• Beijing Sanki Petroleum Technology Co., Ltd. (Beijing, China)
• Shenzhen Kaisai Electric Motor Co., Ltd. (Shenzhen, China)
• Piusi S.p.A. (Suzzara, Mantova)
• Zhejiang Lanfeng Machine Co. Ltd (Zhejiang, China)

A Noteworthy Industry Development-

• July 2019: Gazprom Neft and Dover Fueling Solutions signed an agreement to provide Wayne Helix dispensers between 2019-2020 in Kyrgyzstan, Russia, Belorussia, and Kazakhstan.

Further Report Findings-

• In 2019, Asia Pacific held USD 1.05 billion in terms of revenue owing to the increasing focus of India and China on reducing harmful vehicle emissions in the atmosphere. Hence, the region is experiencing a high demand for natural gas vehicles (NGVs), thereby propelling the demand for fuel dispensers.

• North America is expected to grow steadily and remain in the second position in terms of revenue. This growth is attributable to the rising sale of new vehicles. According to the auto industry forecasts, the sale of vehicles is set to reach around 16.7 million to 17.1 million in the U.S.
• Based on fuel type, the petrol/gasoline segment generated 34.8% in terms of fuel dispenser market share in 2019 backed by the increasing demand for energy from the commercial and residential sectors.

The global market for fuel dispensers can be segmented in the following way: