Fuel Dispensers Market
REPORT DESCRIPTION
Fuel Dispensers Market - Global Industry Analysis , Size , Share , Growth , Trends , and Forecast 2016 - 2024
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 .
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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 .
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
Transparency Market Research
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