China Fuel Dispenser Market to Grow over USD 750 Million by 2020 on the back of Rising Number of Vehicles: Ken Research
Posted on 07 September 2016 by KenResearch Energy and Utilities,
China fuel dispenser market has been driven by the rise in the number of vehicles, especially private cars, incline in population and personal disposable income of the people of China and the growth in fuel filling stations to complement the demands from rising vehicles. Additionally, the boom in natural gas vehicles has been influential in the growth of fuel dispenser industry in China.
Development of innovative dispenser technologies has provided impetus to the adoption of automated dispensers. The shifting of market dynamics from traditional fuel dispensers to self operated fuel dispensers has fuelled the adoption of newer dispensing systems in the country. Since customer retention is the most vital for survival for a filling station, efforts to improve consumer experience had enabled fuel dispensers which allow convenience in payment methods. IC card fuel automation management system has been one of the effective solutions for this. The number of new vehicles registered under the state department has risen remarkably in the last five years. This has directly impacted the growth of fuel stations across the country and subsequently the incline of fuel dispenser industry.
Submersible fuel dispensers don’t have motor system included in their frame and all the dispensers in the filling stations are connected to two submersible pumps on the fuel tank: one for a normal quality while the other for a premium quality fuel. Hence, a fault in the submersible pump will lead to non-functioning of all the dispensers of a particular grade of fuel in the filling station. However, the cost of installation is lesser owing to requirements of lesser number of fuel pumps and less pipe work. Moreover, they have greater efficiency in terms of flow rate and reach over longer distances as compared to suction systems. This has led to an increased demand of submersible pumps in China as compared to the suction pumps.
Owing to higher diesel and petrol consumption in the country than any other fuel, dispensers meant to dispense petrol and diesel contributed for the maximum revenues as of 2015. However, since diesel consumption is not only in the vehicles but also in the industry, the overall number of vehicles demanding diesel are lower as compared to the gasoline vehicles and hence a lower revenue contribution by the diesel dispensers as compared to the gasoline ones.
“New product features in the form of easier payment methods via IC card and other payment gateways have been influential in enabling greater customer satisfaction in developed countries of the US and Europe. Implementation of such systems domestically can aid in reducing the long queues in filling stations and improve the overall customer experience of filling fuels at stations.”, according to the Research Analyst, Ken Research.
The report titled “China Fuel Dispenser Market Forecast to 2020” provides detailed overview on the Fuel Dispenser Market in China and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report is useful for manufacturers, purchasers, oil companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
For more information on the report, refer to below link:
Companies Covered in the Report
- Beijing Sanki
- Zhejiang Genuine Machine
- Wenzhou Bluesky Energy
- Hongyang Group
- Chongqing Endurance Energy
- Chengdu Huaqi
Ankur Gupta, Head Marketing & Communications