Global market for fuel dispensers stood at US$1.83 bn. progressing at a CAGR of 2.40% between 2017 and 2024
Albany, NY -- (SBWIRE) -- 07/12/2019 -- In order to study the various trends and patterns prevailing in the overall market for "Fuel Dispensers", Market Research Reports Search Engine (MRRSE) has included a new report titled "Fuel Dispensers Market" to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. Readers can access the regional as well as segment-wise analysis for acquiring precise information about the global market structure.
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The global market for fuel dispensers is defined on the basis of the rivalry between Wayne Fueling Systems LLC, Tokheim Group S.A.S, Zhejiang Lanfeng Machine Co. Ltd., and Gilbarco Inc., states a new study by Transparency Market Research (TMR). In 2015, these companies, together, held a share of more than 58% in the overall market.
The local manufacturers of fuel dispensers with integrated operations have competitive advantages, thanks to the easy access to low-cost raw materials and protection from volatility in their prices. The increasing focus of the leading players in regional markets is expected to intensify the competition within this market over the forthcoming years, notes the study.
According to the research report, the global market for fuel dispensers offered an opportunity worth US$1.83 bn in 2015. Advancing at a CAGR of 2.40% over the period from 2016 to 2024, the market is anticipated to touch US$2.26 bn by the end of the period of the forecast. The market is estimated to cross 295,521 shipment units in terms of volume over the same period of time. Hitherto, electronic flow meters have enjoyed a higher demand than the mechanical ones. Thanks to their accuracy, stability, and reliability, the scenario is likely to remain same over the forthcoming years.
Rise in China Fuel Dispenser Market to Ensure Dominance of Asia Pacific
Europe, North America, Latin America, the Middle East and Africa, Asia Pacific have been considered as the key regional markets for fuel dispensers across the world in this research report, which also presents a regional analysis of them. As per the study, the market was led by Asia Pacific in 2015 with a share of more than 45%. The rise in urbanization and the infrastructural developments have been the key driving forces behind this significant surge in the Asia Pacific market for fuel dispensers. China emerged as the leading domestic market in Asia Pacific in 2015 and is expected to retain its position, owing to it being the most prominent producer as well as consumer of fuel dispensers in the world.
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The bolstering population and the rising trend of vehicle ownership are anticipated to fuel the demand for fuel dispensers in China significantly, leading to a noticeable growth in the Asia Pacific fuel dispensers market in the near future. Apart from this, India and the ASEAN countries are also projected to offer lucrative growth opportunities to fuel dispenser manufacturers in this region over the forthcoming years, aiding the market further. The markets in North America, Europe, and other regions are also expected to witness stable growth in the years to come, states the research report.
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report includes Tokheim Group S.A.S, Piusi S.p.A., Wayne Fueling Systems LLC, Gilbarco Inc. and others. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).
Secondary research sources that were typically referred to include, but were not limited to company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.
In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players' product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team's expertise and market understanding.
The global fuel dispensers market has been segmented as follows:
By Flow Meter
By Fuel Type
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