Fuel Dispenser Market 2016 Share, Trend, Segmentation and Forecast Fuel Dispensers Market - Global Industry Analysis,
Fuel Dispensers Market - Global Industry
Analysis, Size, Share, Growth, Trends, and
Forecast 2016 - 2024
Global Fuel Dispenser Market: Snapshot
The increasing urbanization across the world has been the motive power for the
significant growth of the global fuel dispenser market over the past few years. The
rising need for various types of fuels, such as petrol, diesel, and CNG, thanks to the
growing demand for vehicles, fueled by the rising disposable income of consumers
and the change in their living standard, acts as another important growth driver for
this market. Over the coming years, the boom in the shale gas industry, new
discoveries in oil, gas and other fuels, and the technological advancements in fuel
dispensers are likely to propel this market substantially.
In 2015, the global market for fuel dispensers stood at US$1.83 bn. Progressing at a
CAGR of 2.40% between 2016 and 2024, the market’s opportunity is likely to touch
US$2.26 bn by the end of 2024. In terms of shipment volume, the worldwide market
is estimated to cross 295,521 units over the same time period.
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Asia Pacific to Carry on as Market Leader
Europe, North America, Latin America, the Middle East and Africa, Asia Pacific are
considered as the key regional markets for fuel dispensers across the world. In
2015, Asia Pacific accounted for a share of more than 45% in the overall market,
acquiring the lead. The increasing urbanization, together with infrastructural
developments are the key drivers behind the rise of the market for fuel dispensers
in this region.
China has been the leading domestic market in Asia Pacific, being a prominent
producer as well as consumer of fuel dispensers in the world. The rising population
and the increasing trend of owning a vehicle have been boosting the demand for
fuel dispensers in China. Over the coming years, India and the ASEAN countries are
projected to provide lucrative growth opportunities to the manufacturers of fuel
dispensers in Asia Pacific, leading to a notable rise in this regional market. Europe,
North America, and other regions are also anticipated to exhibit a steady rise in
their respective fuel dispenser market in the years to come.