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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.
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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
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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)
Aftermarket
Based on the region, the automotive fuel nozzle market is segmented into:
North America
Europe
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
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