Fuel Dispensers Market Forecast and CAGR
In accord with the latest research, Fuel Dispensers Market is predicted to witness continuous growth in the next decade i.e. 2021-2031. Urbanization programs like smart city projects will fuel the demand for fuel dispensers in near future. The smart tools which brings fuel system monitoring on a mobile device adds up to the sales. Moreover, effort from many nations for availability of hydrogen fuel for fuel cells operated vehicles will fire up the demand.
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What is Driving Demand for Fuel Dispensers?
The supply of these systems in rural areas of many parts of the world in the past decade drove the demand. The development of retail outlets by oil marketing companies (OMCs) in the globe is a non-stop process to confirm adequate availability of fleet fuels like diesel and petrol in the upcoming urban as well as rural areas.
Growth in the automotive sector of industry essentially in dual or hybrid vehicles has led the market to grow. There has been many technological changes made in the system which enables the station operator to monitor his/her gas station.
There are many software introduced which confirm seamless management of business funds, processes, customer, sales, and other things. These are usually cloud based signifying that the operator can oversee and manage their business operations from anywhere at any time. Rising usage of multi fuel vehicles estimated to increase fuel dispensers consumption across the globe.
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Spiralling fuel prices is restraining Fuel Dispensers Market
Industries from small scale to large scale got impacted by covid-19 pandemic simultaneously automotive and other manufacturing industries also smashed by this pandemic. This pandemic has impacted global economy anonymously which bring down production of natural gas vehicles, ICE vehicles expected to harsh the fuel dispenser sales.
Fuel dispensers are subject to severe safety, accuracy, and security requirements since they are the focal point of providing fuel to the general public and because fuel is a dangerous material. Moreover, the increasing price of fuel has put everyone associated with this business in a state of jeopardy.
One of the most noticeable effects of rising fuel prices is a drop in the number of consumers at gas stations, which occurs frequently when such events occur. People will not completely stop using their automobiles when the price of gasoline rises, but it will undoubtedly have an impact on their behaviours, and they may be inspired to use less fuel-powered vehicles.
South Asia & Pacific Fuel Dispensers Market Outlook
South Asia & Pacific is estimated to be one of the fastest growing region globally. Though, adoption of electric vehicles is in the good pace across the world but in ASEAN countries this adoption may take some time compared to other regions. India to grow at high growth rate in the global market owing to the high fleet of automobiles in this country.
Day by day increase in the growth of fuel station infrastructure is propelling the consumption of fuel dispensers in this region. Different initiatives taken by Australian government on adoption of CNG and LPG gases expected to boost the South Asia & Pacific market.
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Europe Fuel Dispensers Sales Outlook
Europe is highest end user of biogas fuels and attributed to grow substantially in the forecast period, this may increase sales of biogas fuel dispensers in this region. Owing to the growth of aircraft industry in the Europe region, likely to propel the mobile fuel dispenser consumption in this region.
The European Union has planned to invest more money on the development of natural gas stations. This at the end estimated to propel the global fuel dispensers market.
Who are the Key Manufacturers and Suppliers of Fuel Dispensers?
Some of the leading manufacturers and supplier includes
- Piusi S.p.A
- Bennett Pump
- Scheidt and Bachmann
- Wayne Fuelling Systems
- Tatsuno Corporation
- Tokheim
- Zhejiang Langfeng Machine Co Ltd
- Others
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