A fuel vending machine is used to pump gasoline, petrol, diesel, Compressed Natural Gas (CNG) and biofuels into vehicles at fuel stations. Fuel vending machines play a key role in maintaining full-day services at stations, thus enhancing customer service.
Among station owners, features such as convenient maintenance, high precision flow rate, electromagnetic compatibility and reliable bill acceptor are among the most important factors considered while buying fuel vending machines. Manufacturers of fuel vending machines are collaborating with fuel distributors to supply technologically advanced fuel vending machines equipped with high functionality and additional features such as touch screen as well as the option to enable payment with chip-based ATM cards.
As per trends displayed by the fuel vending machines market, participants are expanding their footprint in countries with high-growth potential, such as those of Asia Pacific, owing to the expected deregulation of the fuel market by authorities and increasing interest towards technology to improve efficiency & protect the environment. Apart from new installations, the already available installed base of equipment, combined with the growing need for remote monitoring, software capabilities & digitization, is expected to drive the fuel vending machines market significantly across the globe.
As the population is expected to grow in the coming decade, a number of fuel distributors are anticipated to construct sites strategically to take advantage of this trend. The growth of the automotive industry is also one of the high impact rendering drivers of the fuel vending machines market. As a result, the demand for fuelling stations and fuel vending machines is expected to grow over the forecast period.
The fuel vending machines market is also expected to be largely driven by the increasing efforts of retail owners to modernise their vending and store operations to enhance revenues by providing an enhanced service experience for vehicle owners. Moreover, several operators are installing upgrades across their entire network of stores to standardise infrastructure with new payment technologies offered by fuel vending machines to provide secure payment solutions to customers.
The threat of new entrants is low in the fuel vending machines market owing to the requirement of high capital & technological knowhow, as well as the dominance of established manufacturers.
Another major restraint hampering the revenue growth of fuel vending machines is increasing public concern regarding environmental issues, which is encouraging people to limit fuel consumption by opting for public transport as well as electric cars. However, the dynamics of the fuel vending machines market are estimated to remain positive as they are likely to be offset by the high impact rendering market drivers mentioned above.
The global fuel vending machines market is segmented into seven key regions: North America, Latin America, Western Europe & Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East & Africa (MEA).
In the coming years, end users from Western Europe, Japan and North America regions are expected to be more aligned towards enhancing profitability that will force suppliers to broaden their product portfolio with products that offer advanced features.
The Asia Pacific region is estimated to witness growth in the demand for integrated automated solutionsand attract additional investment from global players to meet varying customer needs. There will be opportunities for revenue generation in theMEA, Latin America and Eastern Europe for participants in the fuel vending machines market.
Some of the key market participants identified across the value chain of the global fuel vending machines market include:
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
On the basis of application,the fuel vending machines market can be segmented into:
On the basis of component, the fuel vending machines market can be segmented into:
On the basis of sales channel, the fuel vending machines market can be segmented into:
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Fuel Vending Machines Market
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