Lewes, DE -- (SBWire) -- 02/14/2017 --Report forecast the global fuel dispenser market to grow at a CAGR of 5.36% during the period 2017-2021.
The global fuel dispenser market has been witnessing substantial growth in recent years, mainly due to the growth of the automotive industry in various regions. The growing per capita disposable incomes of consumers has also had a positive impact on the overall demand for fuel, as the fuel consumption rate has increased. Many consumers are buying multiple cars, which is leading to the increased consumption of fuel.
In many developing nations, there are very few fuel stations and to meet the increasing demand for fuel, new fuel stations are being set up. This has led to the increased demand for fuel dispensers in developing regions. Additionally, the demand for green fuels, like CNG, LNG, and other environment-friendly fuels, is increasing. This has led to an increase in the setting up of CNG, LNG, and other types of fuel stations.
The report covers the present scenario and the growth prospects of the global fuel dispenser market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of fuel dispensers.
The market is divided into the following segments based on geography:
- APAC
- Europe
- North America
- ROW
According to the report, the increasing disposable income in various regions has led to an increase in the manufacturing of cars, trucks, and other vehicles globally. In Asia, the purchase of new vehicles increased by 21% in 2015 compared with 2014. In China, the purchase volumes of new vehicles increased by 32%. In Western Europe, the volume increased by 13.96 million units in 2015 from 13.2 million units. In 2015, 17.39 million cars were sold in the US, an increase of 5.77% compared with 2014. The increase in the number of vehicles has increased the consumption of fuel. This has led to an increase in the number of fuel stations globally.
Further, the report states that the demand for EVs is increasing globally. Every month, thousands of electric cars are sold. Nearly 6,500 electric cars are sold in the US every month. Tesla, one of the major electric car manufacturers, has already taken orders for more than 370,000 of Model 3. The increasing demand for petrol and decreasing resources for oil has led many governments to encourage the sales of electric cars by providing incentives and discounts. It is also possible that many governments may forbid the sales of cars that operate on fuels by the end of 2025.
Global Fuel Dispenser Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the global fuel dispenser market: Gilbarco, Censtar Science & Technology, and Dover
Other Prominent Vendors in the market are: Beijing Sanki Petroleum, Bennett Pump, Chengdu Huaqi Houpu Holding, DEM G. SPYRIDES, Scheidt & Bachmann, Tatsuno, and Zhejiang Datian machine
Market driver
- Increase in number of gas stations
- For a full, detailed list, view our report
Market challenge
- Decline in number of fuel stations
- For a full, detailed list, view our report
Market trend
- Updated pumps with EMV technology
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 59 pages and 32 Exhibits "Global Fuel Dispenser Market 2017 - 2021" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by product, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.
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