Fuel Dispenser Market Report by Fuel Type, Dispenser System, Flow Meter, and Region 2024-2032

The global fuel dispenser market size reached US$ 2.9 Billion in 2023. Looking forward, the market is expected to reach US$ 4.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.0% during 2023-2032. There are various factors that are driving the market, which include the rising vehicle production on account of rapid urbanization and changing lifestyle of individuals, integration of digital systems and focus on automation, and thriving e-commerce and logistics sectors.

Fuel Dispenser Market Analysis:

• Major Market Drivers: One of the key market drivers include expansion of fueling stations. Moreover, there is an increase in the focus on safety and accuracy, which is acting as another growth-inducing factor.
• Key Market Trends: The rising vehicle production and integration of advanced technologies are main trends in the market.
• Geographical Trends: Asia Pacific exhibits a clear dominance, accounting for the biggest market share owing to favorable government initiatives.
• Competitive Landscape: Several market players in the fuel dispenser industry are Beijing SANKI Petroleum Technology Co. Ltd, Bennett Pump Company, Censtar Science & Technology Corp. Ltd, Dover Corporation, Fortive Corporation, Korea EnE Co. Ltd, Scheidt & Bachmann GmbH, Tatsuno Corporation, Tominaga Mfg. Company, Zhejiang Lanfeng Machine Co. Ltd., among many others.
• Challenges and Opportunities: High initial investment represents a key market challenge. Nonetheless, the rising adoption of alternative fuels like liquified natural gas (LNG) and hydrogen, along with the increasing focus on enhanced user engagement, is anticipated to overcome these challenges and offer market opportunities to industry investors.

Fuel Dispenser Market Trends:

Integration of Advanced Technologies

Technological advancements such automation, digital system integration, and the creation of more dependable and efficient dispensers are driving the market expansion. Touch screens, contactless payments, and real time data tracking are examples of advanced technologies that help in increasing operational efficiency and user experience. Fuel dispensers with touch screen interfaces offer a simple and easy-to-use interface, which make it simple to navigate through a variety of alternatives such as loyalty plans, promotional offers, and fuel type selection.

Additionally, the rising adoption of contactless payment systems such as near-field communication (NFC) and mobile payment apps as they allow for quick and secure transactions is contributing to the fuel dispenser market growth. This feature is beneficial in enhancing user convenience and reducing wait times. Furthermore, companies are launching apps that offer improved individual satisfaction.

For instance, Smith Oil launched a mobile application on August 23, 2023, which enables individuals to pay for fuel at the pump using an ACH debit with a few clicks on their smartphone and instantly obtain a discount through price rollback at the pump. This revolutionary new app powered by Liquid Barcodes C-StorePay is integrated seamlessly with their current point of sale (POS) system and uses the trusted Stripe payment system. Individuals simply drive into any of Smith Oil’s fueling stations and link their bank account on their first visit in easy steps.

Increasing Vehicle Production

People are increasingly purchasing vehicles, especially in emerging markets due to their inflating income levels, which is catalyzing the fuel dispenser demand. Rapid urbanization in developing countries is also contributing to an increase in vehicle numbers. As cities are expanding and more people are migrating to urban areas, the need for efficient transportation and fueling infrastructure is intensifying.

In addition, companies are expanding their networks into rural areas for catering to the growing vehicle population. The establishment of new fuel stations in these areas necessitates the installation of fuel dispensers, which is contributing to the market growth. S&P Global states that new vehicle sales around the world are projected to reach 88.3 million in 2024.

Thriving E-Commerce and Logistics Sectors

The rapid growth of the e-commerce sector is leading to a surge in delivery and transportation services. Online shopping platforms require efficient and reliable logistics to ensure the timely delivery of goods to individuals. This necessitates a dependable fuel infrastructure to support the increased movement of delivery vehicles and represent fuel dispenser market drivers, among others. Companies involved in logistics require a constant and reliable fuel supply to operate their fleets efficiently. The demand for fuel dispensers at fuel stations serving logistics companies is directly impacted by this growth.

In addition, e-commerce businesses and logistics suppliers are also growing their delivery fleets to fulfill the growing demand from individuals for prompt and dependable delivery services. Fuel dispensers are becoming more and more necessary to guarantee that these cars can refuel effectively and quickly. Additionally, fuel dispensers are essential to this supply chain because they allow delivery vehicles to conveniently recharge. According to Forbes, the e-commerce market is anticipated to total over US$ 7.9 Trillion by 2027.

Fuel Dispenser Market Segmentation:

This report provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. The report has categorized the market based on fuel type, dispenser system, and flow meter.

Breakup by Fuel Type:

• Petroleum Fuels
• Compressed Fuels
• Biofuels
• Others

Petroleum fuels account for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the fuel type. This includes petroleum fuels, compressed fuels, biofuels, and others. According to the report, petroleum fuels represented the largest segment.

Since most vehicles on the road now operate on petroleum-based fuels like gasoline and diesel, petroleum fuels are in high demand. The infrastructure for petroleum fuel distribution is well-established and extensive, with numerous fuel stations worldwide equipped to dispense gasoline and diesel. This existing network supports the dominance of petroleum fuels in the market. Petroleum fuels offer a high energy density that assists in providing efficient and powerful performance for internal combustion engines (ICEs). This characteristic makes them a preferred choice for many vehicle owners and contributes to various business opportunities in the fuel dispenser market for market players.

Breakup by Dispenser System:

• Submersible
• Suction

Submersible holds the largest share of the industry

A detailed breakup and analysis of the market based on the dispenser system have also been provided in the report. This includes submersible and suction. According to the report, submersible accounts for the largest market share.

Submersible fuel dispensers are known for their efficiency in pumping fuel. They are installed inside the fuel storage tanks that allow them to push fuel to the dispensers with greater force and speed as compared to suction systems, resulting in faster fueling times. They require less maintenance than above-ground pumps because these systems are shielded from the elements and normal wear and tear.

These systems save space as the pumping mechanism is housed within the fuel tank itself. This is especially helpful in cramped metropolitan locations. Because the gasoline is maintained under pressure and away from any ignition sources, these dispensers also lessen the risk of fire and explosion. This improves overall safety during the fuel dispensing process and leads to a positive fuel dispenser market forecast.

Breakup by Flow Meter:

• Mechanical
• Electronics

Electronics represent the leading market segment
The report has provided a detailed breakup and analysis of the market based on the flow meter. This includes mechanical and electronics. According to the report, electronics represents the largest segment.

Electronics fuel dispensers provide more accurate fuel measurement and dispensing compared to mechanical systems. This accuracy helps in minimizing fuel loss and ensuring users receive the exact amount of fuel they pay for. Electronic dispensers offer a better user experience through features like touch screens, interactive interfaces, and real time information displays. These features make the fueling process more convenient and efficient for individuals. The incorporation of electronic payment systems is beneficial in simplifying transactions and reducing the need for cash handling.

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa

Asia Pacific leads the market, accounting for the largest fuel dispenser market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific represents the largest regional market for fuel dispenser.

According to the India Brand Equity Foundation (IBEF), the total production of passenger vehicles, including three wheeler (3W), two wheeler (2W), and quadricycles was 2.32 million units in India in January 2024. People are adopting vehicles in the Asia Pacific region due to rapid urbanization. Apart from this, governing agencies in the Asia Pacific region are investing in infrastructure development including transportation and fuel distribution networks. They are also providing several policies and undertaking initiatives that aim to improve fuel accessibility and distribution, positively influencing the fuel dispenser industry overview.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the fuel dispenser industry include Beijing SANKI Petroleum Technology Co. Ltd, Bennett Pump Company, Censtar Science & Technology Corp. Ltd, Dover Corporation, Fortive Corporation, Korea EnE Co. Ltd, Scheidt & Bachmann GmbH, Tatsuno Corporation, Tominaga Mfg. Company, and Zhejiang Lanfeng Machine Co. Ltd.
• Fuel dispenser companies are focusing on integrating advanced technologies into their fuel dispensers. They are developing dispensers that support alternative fuels like compressed natural gas (CNG) and hydrogen. They are also working on fuel dispensers with enhanced security features like encrypted payment systems and tamper-proof technologies. Moreover, players are engaging in strategic partnerships and collaborations to expand their market reach. Furthermore, they are creating eco-friendly fuel dispensers that comply with stringent environmental regulations. They are also focusing on providing advanced products that enhance user experience. For instance, on 14 December 2023, Shell launched a new generation of fuel dispensers designed to provide an enhanced user experience. The latest addition to Shell's line of fuel dispensers is equipped with advanced technology that ensures faster, more accurate, and safer fueling. The new fuel dispenser is equipped with an innovative user interface that is intuitive and easy to use.

Fuel Dispenser Market News:

• 14 May 2024: SANKI presented UNITI Expo 2024 and announced the release of its AIoT fuel dispenser- Skyline series, and new upgraded prime series fuel dispenser, fuel tank ATG, cloud platform FMS, charging piles, and other products. Skyline series of fuel dispensers with AIoT Built-in Cloud Services attracted the most attention at the exhibition. The dispenser supports multiple connectivity and multiple protocols adapt to any network environment.
• 29 May 2024: Dover Fueling Solutions (DFS), a part of Dover, and a leading global provider of advanced customer-focused technologies, services and solutions in the fuel and convenience retail industries, launched RDM by DFS - a remote diagnostics and management solution that will enable retailers to invest in a truly connected dispenser in the Europe, Middle East, and Africa region. RDM by DFS is an optional module that is available on Wayne Helix® fuel dispensers, which, once activated, will allow retailers to gather enhanced original equipment manufacturer (OEM) data, regardless of pump protocol, and enable remote monitoring and management via DX Monitor®.

Key Questions Answered in This Report

1. What was the size of the global fuel dispenser market in 2023?
2. What is the expected growth rate of the global fuel dispenser market during 2024-2032?
3. What has been the impact of COVID-19 on the global fuel dispenser market?
4. What are the key factors driving the global fuel dispenser market?
5. What is the breakup of the global fuel dispenser market based on the fuel type?
6. What is the breakup of the global fuel dispenser market based on the dispenser system?
7. What is the breakup of the global fuel dispenser market based on the flow meter?
8. What are the key regions in the global fuel dispenser market?
9. Who are the key players/companies in the global fuel dispenser market?