About Fuel Retail Terminal
Oil, other fuels, and petrochemical products are stored in fuel terminals. Fuel Retail Terminal is the point of interaction for customers and station attendants. They help with self-service, c-store marketing, dry goods sales and promotions, shift management, and other company needs. When it comes to picking a gas-station payment solution, processing new and continuously changing card kinds and technologies - EMV, debit, fleet, NFC, and loyalty - is an ever-increasing problem for both merchants and fleets. New fuel retail terminals aim to address this problem. The United States is the largest market for fuel retail terminals followed by the Asia Pacific due to a high number of vehicles.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Fuel Retail Terminal market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Fuel Retail Terminal market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
NCR Corporation (United States), Orpak Systems Ltd. (Israel), Danaher Corporation (United States), OPENPOS AB (Sweden), Dover Fuelling Solutions (United States), Implico (Germany), Global Partners LP (United States), Targray (Canada), TAC Energy (United States), Sunoco LP (United States) and Renewable Energy Group (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Fuel Retail Terminal market by Type (Submersible Systems and Suction Systems) and Region.
On the basis of geography, the market of Fuel Retail Terminal has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Components, the sub-segment i.e. Hardware will boost the Fuel Retail Terminal market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Functionality, the sub-segment i.e. Range of Payment Methods will boost the Fuel Retail Terminal market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fuel, the sub-segment i.e. Petrol will boost the Fuel Retail Terminal market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction Of New and Convenient Payment Methods in Fuel Retail Terminals and Introduction Of Touchscreen Displays in Fuel Retail Terminals
Market Growth Drivers:
Demand for Easy Methods to Customers at Terminal and Growing Demand for Automated Self Sufficient Fuel Retail Terminal
Challenges:
High Cost of Initial Instalment of Fuel Retail Terminals and Limited Number of Buyers for Fuel Retail Terminals
Restraints:
Increasing Prevalence of Electric Vehicles
Opportunities:
Increasing Demand of Fuel Retail Terminals from Developing Economies and Demand To Increase Transaction Speed at Fuel Stations Will Increase the Demand of Fuel Retail Terminals
Market Leaders and their expansionary development strategies
In Feb 2021, NCR Corporation a leading provider of fuel retail terminals announced the acquisition of Terafina, a leading solution provider for customer account opening and onboarding across digital, branch, and call center channels. Terafina expands NCR sales and marketing capabilities in its industry-leading Digital First Banking platform to drive revenue growth across consumer and business market segments.
In March 2020, Indian Oil Corporation has launched work on a new petroleum product terminal in Malkapur, near here, that, on commissioning, will help it pump more products into the Telangana market.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Fuel Retail Terminal Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations, End-Use Industries and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.