The Asia Pacific fuel dispenser market is projected to
reach USD 1.39 billion by 2024, according to a new report by Grand View
Research, Inc. The demand for fuel dispenser in Asia Pacific is expected to
grow significantly over the forecast period, primarily driven by the increasing
demand for vehicles in the region. The developing economies in the region,
including China and India, accounted for over 75% of the total market in 2015.
The growing demand in China owing to the growing consumer spending capacity as
well as robust automotive sales is expected to have a positive impact on the
industry growth.
The constant movement of the rural population to
urban areas in India is expected to create a need for infrastructural
development. The growing disposable incomes of the consumers is expected to
drive the demand for vehicles in the country. As a result, the demand for
fueling stations and dispensing systems is expected to grow over the next eight
years.
The positive gross domestic product (GDP) and
steady growth in the consumer standards of living is expected to augment the
demand for oil & gas and related products, which in turn is expected to aid
the industry growth in Asia Pacific. The threat of new entrants is low owing to
the presence of established manufacturers in the region.
High capital requirements, coupled with the need
for advanced technologies, may restrict the entry of new industry players.
Furthermore, the dispensing systems are utilized to distribute fuel to the
general population. It is highly flammable and hazardous to the human health
and the environment, owing to which several associations have set standards for
the manufacturing of dispenser systems.
Browse full research report on Asia
Pacific Fuel Dispenser Market: https://www.grandviewresearch.com/industry-analysis/asia-pacific-fuel-dispenser-market
Further key
findings from the report suggest:
- Submersible systems accounted for over 80% of the total market in
2015. Low installation and maintenance costs of this technology are
expected to drive the demand in the region. Increasing penetration of the
technology in China and India is expected to aid industry growth over the
forecast period.
- The demand for dispensing systems for CNG vehicles is expected to
witness substantial growth, at a CAGR of over 4% from 2016 to 2024 owing
to its affordable price and superior mileage as compared to petrol powered
vehicles. Furthermore, growing government support in promoting CNG owing
to its environmental benefits is expected to drive growth over the
projected period.
- China is the largest manufacturer and consumer of fuel dispenser
in the region with over 45% of the total market share in 2015. Growing
demand for petrol and CNG dispensing systems is expected to drive the
industry over the next eight years. Rapid automotive industry growth is
also expected to aid industry demand in the country.
- Key players include Gilbarco Inc., Wayne Fuelling Systems LLC,
Tokheim, and Tatsuno Corporation. Wayne Fuelling Systems LLC is being
acquired by Dover Corporation who owns Tokheim. This acquisition is
expected to give a competitive edge to Dover over the forecast period.
Browse request sample of this report by
Grand View Research: https://www.grandviewresearch.com/industry-analysis/asia-pacific-fuel-dispenser-market/request/rs1
Grand
View Research has segmented the Asia Pacific fuel dispenser market on the basis
of technology, application and region:
Technology
Outlook (Revenue, USD Million; 2013 - 2024)
- Submersible
- Suction
Application
Outlook (Revenue, USD Million; 2013 - 2024)
- Petrol/Gasoline
- Diesel
- Compressed Natural
Gas (CNG)
- Others
Regional
Outlook (Revenue, USD Million; 2013- 2024)
- China
- India
- Japan
- Rest of Asia Pacific
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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