Enjoy complimentary customisation on priority with our Enterprise License!
The fuel dispenser market share is expected to increase by USD 1.42 million from 2021 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.49%.
This fuel dispenser market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers fuel dispenser market segmentation by product (submersible and suction) and geography (APAC, North America, Europe, and South America). The fuel dispenser market report also offers information on several market vendors, including Beijing SANKI Petroleum Technology Co. Ltd., Bennett Pump Co., Censtar Science & Technology Corp. Ltd., Dover Corp., Gilbarco Inc., HENSHEN MACHINERY Co. Ltd., Scheidt & Bachmann GmbH, SPYRIDIS GROUP, Tatsuno Corp., and Zhejiang Datian machine Co. Ltd. among others.
Download the Free Report Sample to Unlock the Fuel Dispenser Market Size for the Forecast Period and Other Important Statistics
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing inbound and outbound tourism is notably driving the fuel dispenser market growth, although factors such as decline in number of fuel stations may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the fuel dispenser industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Fuel Dispenser Market Driver
The increasing inbound and outbound tourism has been instrumental in driving the fuel dispenser market growth. Globally, there has been significant growth in the travel and tourism industry. Increased disposable incomes and easy access to tourist destinations are factors that are making it easier for many middle-class people to get information on various places and make online hotel and flight bookings.The rise in tourism has brought about increasing competition among travel agents worldwide, which has, in turn, has led to reduced prices of tour and travel packages. This has increasingly led to the growth in the number of international and domestic tourists globally.Increased tourism has led to an increase in demand for more transportation services globally. This has, in turn, led to an increase in demand for fuel, and thus, fuel stations. The increase in fuel stations will, in turn, lead to an increase in demand for fuel dispensers globally.
Key Fuel Dispenser Market Trend
Increased national and international transportation is another key driver augmenting the growth of the fuel dispenser market growth. The global logistics market is expected to grow at a rapid rate during the forecast period, mainly driven by the increase in import and export activities.Companies in various major countries, including the US, the UK, Germany, and China, are outsourcing their manufacturing units to countries where lower costs are incurred.These countries have also recorded an increase in domestic consumption and are driving the demand in the market. Also, the huge demand is a result of economic growth and globalization, which require manufacturers to import and export their raw materials and finished goods worldwide. The increase in demand for supply chain demands efficient road freight, rail freight, sea freight, and other such means of transportation. This, in turn, will increase the demand for fuel. To cater to the increasing demand, many fuel stations are being opened globally. Thus, the demand for fuel dispensers has also increased.
Key Fuel Dispenser Market Challenge
A decline in the number of fuel stations is a major hindrance to the fuel dispenser market growth. The number of fuel stations is declining in various regions globally. The number of fuel stations in many Canadian metropolitan cities has declined in the past 15 years. In the past two decades, the number of gas stations has declined by 40% in Canada. The number of retail fueling sites in the US fell from around 200,000 in 1994 to 150,000 in 2019. One of the prime reasons for the decline in the number of fuel stations is the exceedingly high land prices. Owners of retail fueling stations are attracted to sell their land to developers for giant premiums, rather than operating fuel stations with modest profits. Additionally, there is volatility in the wholesale price of gasoline. Fuel retailers' profitability decreases as wholesale prices rise and increase when wholesale prices fall. Selling a gallon of gasoline costs a retailer about 12 to 16 cents. With a five-year average markup of 18.9 cents, the retailer will have about 3-5 cents per gallon in profit on average. Due to such low profits, retailers prefer to sell their gas stations to land developers. Thus, the closing of many fuel stations and low profits will discourage other fuel station operators from opening new fuel stations, and this will affect the demand for new fuel dispensers globally.
This fuel dispenser market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Technavio categorizes the global fuel dispenser market as a part of the global specialized consumer services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the fuel dispenser market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the fuel dispenser market encompasses successful business strategies deployed by the key vendors. The fuel dispenser market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The fuel dispenser market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the fuel dispenser market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global specialized consumer services market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.