Global Fuel Dispenser Market to Witness Widespread Expansion by 2024
The global market for fuel dispensers is defined on the basis of the rivalry between Wayne Fueling Systems LLC, Tokheim Group S.A.S, Zhejiang Lanfeng Machine Co. Ltd., and Gilbarco Inc., states a new study by Transparency Market Research (TMR). In 2015, these companies, together, held a share of more than 58% in the overall market. The local manufacturers of fuel dispensers with integrated operations have competitive advantages, thanks to the easy access to low-cost raw materials and protection from volatility in their prices. The increasing focus of the leading players in regional markets is expected to intensify the competition within this market over the forthcoming years, notes the study. According to the research report, the global market for fuel dispensers offered an opportunity worth US$1.83 bn in 2015. Advancing at a CAGR of 2.40% over the period from 2016 to 2024, the market is anticipated to touch US$2.26 bn by the end of the period of the forecast. The ...