Incline in Number of Vehicles and Technological Advancement in the Space to Drive China Fuel Dispenser Market: Ken Research
INVC NEWS New Delhi,
- 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.
- Censtar would continue to be the largest company with the highest share in the market revenues especially in the domestic market. The company is expected to increase its production capacity by 15-20% over the next 2 -3 years.
Ken Research announced its latest publication on “China Fuel Dispenser Market Forecast to 2020 - Incline in Number of Vehicles and Technological Advancement to Drive the Market” which provides a comprehensive analysis of the Fuel dispenser market in China. The report covers market size and segmentation of overall fuel dispenser market by technology, applications, regions and design. The report covers detailed profiles of leading players in the space along with the share of major players in domestic market, export market and overall market. The potential and future outlook for fuel dispenser industry has also been discussed in the publication. The report provides detailed analysis of segments, SWOT Analysis, Trends & Developments and major restraints and challenges within the industry. The report also serves as a benchmark for existing players and every new player who wish to capitalize the market potential and investors who are looking forward to venture into the fuel dispenser market 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.
The fuel dispenser market in China was quite concentrated, as three biggest players occupied around 65% of the domestic market, which included revenues from sale of fuel dispensers in China only. Censtar Science and Technology was the market leader in fuel dispenser industry in China. The company supplied fuel dispensers and its related spare parts to all the leading oil companies of the country including Sinopec, PetroChina, China National Offshore Oil Company (CNOOC) and others.
In terms of export, Wenzhou Bluesky emerged as the market leader. The company exported or sold its products majorly to South Asian and African countries and exported almost 90.0% of its annual production in 2015.
Censtar was by far the market leader in overall fuel dispenser industry which was largely due to its dominance in the domestic market as it supplied fuel dispensers to almost all the leading oil companies operating in the country and had a vast service and distributor network.
According to the research report, the fuel dispenser market in China is anticipated to grow at a healthy CAGR between 2016 and 2020 to over USD 750 million in 2020. The market share of natural gas dispensers is expected to increase.
“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.