Articles
Asia Pacific Fuel Dispenser Market - Size, Share, Growth and Trend Analysis
by Susan Hill Business ConsultantThe 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.
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.
Access
full research report on Asia Pacific fuel dispenser market:
www.grandviewresearch.com/industry-analysis/asia-pacific-fuel-dispenser-market
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About Susan Hill 
Business Consultant
145 connections, 2 recommendations, 567 honor points.Joined APSense since, September 25th, 2017, From California, United States.
Created on Jan 28th 2020 01:16. Viewed 322 times.
