SAN FRANCISCO, November 1, 2016 /PRNewswire/ --
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.
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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 with TOC on "Asia Pacific Fuel Dispenser Market Analysis By Technology (Submersible, Suction), By Application (Petrol/Gasoline, Diesel and CNG) And Segment Forecast, 2013 - 2024" at: http://www.grandviewresearch.com/industry-analysis/asia-pacific-fuel-dispenser-market
Further key findings from the report suggest:
Browse related reports by Grand View Research:
Grand View Research has segmented the Asia Pacific fuel dispenser market on the basis of technology, application and region:
Access research Insight - http://www.grandviewresearch.com/research-insights/asia-pacific-fuel-dispenser-market-insights-cng-hydrogen-fuel-dispensers-drive-growth
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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