The Asia Pacificfuel 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 report by Grand View
Research : http://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.
View more reports of this category by Grand View Research
at: https://www.grandviewresearch.com/industry/automotive-and-transportation
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
View press
release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/asia-pacific-fuel-dispenser-market-analysis
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.
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