Automotive Fuel Delivery System Market Expected To Reach $5.29 Billion By 2027

FinancialNewsMedia.com News Commentary 

PALM BEACH, Fla., July 12, 2022 /PRNewswire/ -- The automotive fuel delivery system market, as most, was disrupted by the COVID-19 pandemic, but it is expected to have a strong growth rate through 2027. The market services passenger cars, heavy commercial vehicles, hybrid vehicles, and light commercial and other vehicles. A report from Mordor Intelligence said that: "The automotive fuel delivery system market was valued at USD 3.77 billion in 2021 and is expected to reach USD 5.29 billion by 2027 registering a CAGR of above 5.8% during the forecast period (2022 – 2027). The mobile fuel delivery market is being propelled by rising demand for ease of fuel distribution systems. As the demand for automobiles grows, the sales of mobile fuel delivery systems are also expected to surge. However, the ever-increasing demand for automobiles is driving the adoption of mobile fuel delivery systems. It continued saying: "Automotive fuel delivery system market is expected to witness robust growth across Asia-Pacific region due to increasing sales of passenger and commercial vehicles in coming years, especially in emerging economies such as India and China. Additionally, the increasing penetration of natural gas vehicles among many countries is also expected to positively impact on the Asia-Pacific automotive fuel delivery system market in coming years." Active companies in the markets this week include EzFill Holdings, Inc. (NASDAQ: EZFL), Spire Inc. (NYSE: SR), NGL Energy Partners LP (NYSE: NGL), Murphy Oil Corporation (NYSE: MUR), Marathon Oil Corporation (NYSE: MRO).

Mordor Intelligence continued: "Asia-Pacific region expected to lead in the automotive fuel delivery system market owing to growing automotive production across key markets like India, China, etc. CNG-powered vehicles are expected to witness strong growth in the European and North American regions. However, the growth in LPG vehicles is likely to be restricted to the developing markets. Despite tough economic conditions in the South American region, the market should perform relatively well during the forecast period. It concluded, optimistically, saying that the companies in the automotive fuel delivery system market are expanding their businesses by forming joint ventures. The market is also witnessing the entry of new players… all of which is good for market growth."

EzFill Holdings, Inc. (NASDAQ: EZFL) BREAKING NEWS: EzFill Announces Expansion of Commercial Fleet Business with Addition of New Delivery Vehicles and Launch of New Marketing Campaign - EzFill Holdings, Inc. ("EzFill" or the "Company"), a pioneer and emerging leader in the mobile fuel industry, today announced the expansion of the company's fleet to 31 operating delivery vehicles, with 9 additional vehicles in production. "We expect our total fleet of delivery vehicles will be at approximately 40 by the end of July" said EzFill Chief Commercial Officer, Rick Dery. "In spite of the challenging economy, EzFill remains very much in a growth mode, with about 40 new fleet accounts signed since January, representing a potential volume growth of approximately 1.2 million gallons annually."

The Company has increased its support to commercial fleets by expanding its operations to additional markets beyond Miami now including West Palm Beach, Tampa Bay, and Orlando. The new commercial fleet customers include one of the largest grocers in the United States. Moreover, the company is working diligently for the approvals to support residential consumers and retail marine demand in these markets as well.

EzFill also announced today the launching of its new marketing campaign, named "Orange Dawn". "The project is primarily a 'brand awareness' campaign supported by multiple radio ads, aerial banners and over 60 billboard locations throughout Southeast Florida," said Dery. "With millions of impressions anticipated, the goal with this campaign is that 'EzFill' become as ubiquitous as the 'warm sun' in Southern Florida," continued Dery.

"We are excited to grow in these new markets, and West Palm Beach was the ideal location to begin this expansion due its proximity to our established Miami operations, as well as the market's existing familiarity with mobile fueling and on-demand delivery in general," said Mike McConnell, CEO of EzFill.

With the number of gas stations in the U.S. continuing to decline, corporate giants like Shell, Exxon, GM, Bridgestone, Enterprise, and Mitsubishi have recognized the increasing shift in consumer behavior and are investing in the fast growing on-demand mobile fueling industry. As the only company to provide fuel delivery in three vertical segments - consumer, commercial, and specialty including marinas - EzFill is well positioned to capitalize on the growing demand for convenient and cost-efficient mobile fueling options. CONTINUED…  Read the EzFill full press release by going to: https://ir.ezfl.com/news-events/press-releases

 Additional recent developments in the markets this week include:

Spire Marketing Inc., a wholly owned subsidiary of Spire Inc. (NYSE: SR) has recently completed a multi-year agreement to purchase responsibly sourced gas (RSG) from Ascent Resources.  RSG is a distinct natural gas classification that is verified for low-emission attributes and produced in an environmentally responsible manner.  The agreement with Ascent represents the first RSG transaction for Spire Marketing.

"Increasingly over the past few months, we have received numerous requests from our clients regarding access to RSG. Our agreement with Ascent now provides us with the ability to bring this value to our clients throughout North America," said Patrick Strange, Spire Marketing President. "Meeting the current and future needs of our clients, both from a reliability and sustainability standpoint, is core for Spire Marketing and our parent Spire. We are thankful to Ascent Resources for their continued leadership in the natural gas market and for their support in helping us add RSG to our portfolio."

NGL Energy Partners LP (NYSE: NGL) recently reported its fourth quarter and full year fiscal 2022 results. The Partnership reported a loss from continuing operations of $29.4 million for the quarter ended March 31, 2022 and $184.1 million for its full fiscal year 2022.

"The Partnership had a strong finish to its Fiscal 2022 and continues to see positive momentum as we move into our 2023 fiscal year. Produced water volumes approximated 2.1 million barrels per day in April, 2.2 million barrels per day in May and are expected to exceed this level for the remainder of Fiscal 2023. We achieved our first $90 million Adjusted EBITDA¹ quarter in Water Solutions segment and anticipate Adjusted EBITDA¹ for the Water Solutions segment of over $400 million for the upcoming fiscal year, assuming current producer activity levels and commodity prices. This is an increase of $15 million from our previous guidance of $385 million. We have worked incredibly hard over the past few years to build the premier water solutions asset position in the best basin in the country and we are beginning to realize the benefit of those efforts," stated Mike Krimbill, NGL's CEO. "The Partnership expects total Adjusted EBITDA¹ of at least $600 million and capital expenditures of approximately $100 million for Fiscal 2023. Assuming stable commodity prices, we expect the resulting free cash flow to total approximately $280 million, which we plan to use to repay our Senior Notes due 2023. We will update the market on our progress towards these goals as the year goes on," Krimbill concluded.

Murphy Oil Corporation (NYSE: MUR) will host a conference call and webcast beginning at 9:00 a.m. Eastern Daylight Time (EDT) on Thursday, August 4, 2022 to discuss second quarter 2022 earnings. The company plans to release its financial and operating results before the market opens that morning. A webcast link and related presentation material will be included on the Investors page of the company's website at http://ir.murphyoilcorp.com.

Date: Thursday, August 4, 2022
Time: 9:00 a.m. EDT
Toll Free Dial-in: 888-886-7786
Conference ID: 14108968

Marathon Oil Corporation (NYSE: MRO) recently reported first quarter 2022 net income of $1,304 million, or $1.78 per diluted share, which includes the impact of certain items not typically represented in analysts' earnings estimates and that would otherwise affect comparability of results. The adjusted net income was $749 million, or $1.02 per diluted share. Net operating cash flow was $1,067 million, or $1,280 million before changes in working capital.

"Amid tremendous macro volatility, Marathon Oil remains resolutely focused on delivering on all elements of our framework for success, including strong corporate returns, sustainable free cash flow generation, market-leading return of capital to shareholders, and ESG excellence," said Chairman, President, and CEO Lee Tillman. "Our constancy of purpose, differentiated execution, and commitment to providing investors with the first call on cash flow through our unique percentage of cash flow framework are all paying off. In the last two quarters, we've returned approximately 60% of our total CFO back to our equity investors, meaningfully exceeding our minimum 40% commitment. We've executed $1.6 billion of share repurchases over the last seven months, driving significant per share growth through an 11% reduction to our outstanding share count, and have announced five consecutive increases to our quarterly base dividend. With over $4.5 billion of adjusted free cash flow generation expected this year, we remain well positioned to continue delivering financial results and return of capital that are compelling not only relative to the best companies in energy, but relative to the best in the S&P 500."

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