Electric Vehicles Demand on the Rise Automotive Fuel Nozzle Market Still Booming
United States has one of the largest automotive markets in the world with around 838 vehicles per 1,000 people. Almost 90% of households reported having access to at least one vehicle which showed a growth by 8.9% from past 5 years. Coming to electric vehicles, they have small fraction of the car market, which are dominated by the gasoline and diesel engines at large. Even if 100% of the vehicles sold are electrified, it is hard to replace the on road vehicles with internal combustion engines in near 20-25 years. This in turn promises for a stable and growing market for fuel nozzle across the globe.
What Factors are influencing the Automotive Fuel Nozzle Market?
A necessity for fuel efficient vehicles in automotive industry is found, so that the amount of gas that is used in commuting could be reduced. Alternatives to non-renewable fuels such as biodiesel in automobiles are used in some countries. Compared to 2018, the global passenger vehicle market size is expected to grow by 10 million units during by the end of 2022. Passenger vehicles as daily commutes need gasoline or diesel engines giving a fleet to fuel stations and subsequently increasing the demand of fuel nozzles.
Stringent government regulation on reduction of carbon emission, increasing awareness of sustainable living and electric vehicles, trade wars and increasing fuel prices have a significant impact on the global fuel nozzle market.
What is the Market Potential of Automotive Fuel Nozzle?
Significant increase in production of passenger and commercial vehicles with diesel and gasoline operated engines is estimated to drive the automotive fuel nozzle market in near future. Rising awareness among citizens regarding sustainable environment and reduction in carbon emissions is expected to further decline the demand of automotive fuel nozzle market. Stringent government regulations pressurized manufacturers to produce vehicles with a low carbon emission which in turn opens door for the automotive fuel nozzle market.
The automotive fuel nozzle market is likely to hamper up to some extent with the rise in demand for electric vehicles in coming years. This is primarily due to the absence of diesel and gasoline engines in electric vehicles. But with the less fueling cycle of the nozzle it has a high demand in market. Innovation in nozzles (such as nozzles for charging an electric vehicle) with the changing trend toward electric vehicle will help the automotive fuel nozzle manufacturers to sustain in market.
Automotive Fuel Nozzle Market Segmentation
Based on engine type, the automotive fuel nozzle market can be divided into:
- Diesel engine
- Gasoline engine
Based on the type of vehicle, the automotive fuel nozzle market can be divided into:
- Passenger vehicles
- Commercial vehicles
Based on the type of nozzle, the automotive fuel nozzle market can be divided into:
- Automatic Nozzle
- Manual Plastic Nozzle
Based on sales channel, the automotive fuel nozzle market is segregated into:
- OEM (Original Equipment Manufacturers)
Based on the region, the automotive fuel nozzle market is segmented into:
- North America
- Asia Pacific
The automotive fuel nozzle market is mainly for passenger and commercial vehicles. Growing demand for passenger vehicle across the globe is likely to enhance the demand for product in coming years. Even the fuel nozzles for gasoline engine will show a positive demand when compared to diesel engines as the heavy demand for performance based vehicles are catered by the petrol engines. The primary reason for this is gasoline being a cleaner fuel than diesel and increase the vehicle engine life.
Automatic nozzle is designed according to ideal pattern desired by users. With compact structure, light weight and convenient use, the product is applicable for filling diesel oil, kerosene and gasoline. While the manual plastic nozzles are used by small gas stations with low traffic. Some of the nozzles are categorized on the basis of payment i.e. for pre-paid self-service and card systems which have a self-closure fuel nozzle. Based on sales channel, the automotive fuel nozzle market is segregated into aftermarket and OEM (original equipment manufacturer). The aftermarket segment is expected to growth in near future owing to the need to replace the fuel nozzle after prolonged use.
What is the Regional Standpoint in Automotive Fuel Nozzle Market?
On an average, the age of vehicles running on road is almost 10 years in North America. Even if the government wants to electrify automobile market, they cannot do. People in North America prefer more of a petrol powered vehicles as they enjoy the use of high performance cars with more speed.
Most of the fuel stations out of all European countries are accounted by Italy itself. By the end of 2019, Italy was operating more than 21,000 fuel stations which was around 15% of entire European countries and it’s still growing. The demand of vehicles in European region are more of superior performance, which requires fuel-efficient system with precise engineering, seems impossible without gasoline and diesel engines.
Of all the other regions Asia Pacific is the most populated region. To satisfy the demand of citizens, there is a need to produce vehicles on large scale which seems to be impotent at current stage.
Who are the Key Players in the Automobile Fuel Nozzle Market?
Some of the key players in the automotive fuel nozzle market are
- ELAFLEX HIBY
- OPW Div
- & Tokheim India Pvt. Ltd
- WEH Technologies Inc.
- Newberry Tanks & Equipment LLC
- Shaw Development
- LLC. Tank Truck Service & Sales Inc.
- Becker & Associates Inc.
- Lumen Instruments
Leading manufacturers in India are:
- Chintan Engineers
- Broil Sensotek Industries
- SKM Instruments
- Sri Sakhti Automation
- Hacop Pumps Private Limited and Kannan Hydrol & Tools
providing fuel nozzles with digital meter flow, automatic and manual fuel nozzles, aluminum fuel nozzles etc. specifically designed to ensure proper automatic shut-off, durable and long lasting Design cycle-tested and proven to last longer than 1 million cycles.
How Covid-19 has Impacted Automotive Fuel Nozzle Market?
The COVID-19 pandemic transformed the growth of various industries directly or indirectly both. There exists a direct relation between automotive fuel nozzle market and automobile industry. A disruption was observed in terms of fuel consumption as the public movement has come to a near standstill due to the lockdown. Trade restrictions and lockdowns has shown a shift in consumption pattern and disrupted the entire supply chain across the global fuel market. In India, consumption of diesel fell to almost 24 per cent in March 2020 when compared to the previous year. Petrol consumption, which had been growing since last 30 months up to February 2020, fell almost 16 per cent when compared to the previous year. Low consumption of fuel implies low use of fuel stations as well as fuel nozzles.
Interestingly, the impact of COVID-19 didn’t last for long. The percentage of first time buyers and additional car buying shown a significant rise as customers prefer personal mobility over public transport. Subsequent implementation of high tariffs and trade barriers on automotive parts and nozzle opened a market for local players to ramp up the production. This gave a rise to automotive fuel nozzle market in world.
The research report presents a comprehensive assessment of the automotive fuel nozzle market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also includes projections using a suitable set of assumptions and methodologies. The research report of the automotive fuel nozzle market provides analysis and information according to the different market segments such as end-use, type, sales channel and region.
Automotive fuel nozzle market report covers exhaustive analysis on:
Regional analysis includes:
The automotive fuel nozzle market report is a compilation of first-hand information, qualitative and competitive assessment industry analysts, and inputs from industry experts and industry participants across the value chain. The report for the automotive fuel nozzle market provides an in-depth analysis of the 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.
- Market Segments of the automotive fuel nozzle market
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends / Issues / Challenges
- Competition & Companies Involved
- Value Chain of the automotive fuel nozzle market
- North America (U.S, Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Rest of Europe)
- South Asia (India, Thailand, Indonesia, Malaysia, Rest of South Asia)
- East Asia (China, Japan, South Korea)
- Oceania (Australia, New Zealand)
- Middle East (GCC Countries, Israel, Turkey, Egypt, Rest of Middle East)
- Africa (Nigeria, South Africa, Algeria, Morocco, Rest of Africa)
- Detailed overview of the automotive fuel nozzle market.
- Changing market dynamics in the automotive fuel nozzle market.
- In-depth automotive fuel nozzle market segmentation.
- Historical, current, and projected market size in terms of volume and value.
- Recent industry trends and developments in the automotive fuel nozzle market.
- Competitive landscape.
- Strategies of key players and products offered.
- Potential and niche segments, geographical regions exhibiting promising growth for the automotive fuel nozzle market.
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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