Press release
A Deep Dive into Gas Station Equipment Market 2025: Key Drivers, Growth Factors, and Projections 2025-2034
Gas Station Equipment Market
Recent years have witnessed robust growth in the market size of gas station equipment. The market is projected to expand from a value of $6.72 billion in 2024 to $7.17 billion in 2025, with a compound annual growth rate (CAGR) of 6.6%. The surge experienced in the historic period can be traced back to advancements in ventilation systems in service areas, government regulatory measures, increasing fuel demand, infrastructure development investments, and rural electrification initiatives.
The market for gas station equipment is anticipated to experience robust growth in the upcoming years, with a projected value of $9.17 billion in 2029, boasting a compound annual growth rate (CAGR) of 6.4%. The growth within the projection period can be credited to factors such as the proliferation of hydrogen fueling stations, the advent of multi-fuel dispensers, enhanced safety measures, the broadening of convenience stores, and the emergence of environmentally friendly equipment. Key trends in the forecast period encompass the move towards electric vehicles charging stations, incorporation of renewable energy, automated refuelling systems, contactless payment methods, and intelligent tank monitoring systems.
What Are the Primary Growth Drivers for the Gas Station Equipment Market?
Growth in the travel and tourism sector is predicted to boost the gas station equipment market. Comprising all actions and services associated with moving individuals from one place to another for recreation, business or other purposes, the travel and tourism industry's growth can be largely attributed to better accessibility to global air travel, an increased desire among consumers for travel experiences, and supportive government policies. The gas station equipment aids the industry by offering dependable fuel supply, boosting user convenience, assuring safety, and providing additional services to make travel experiences for tourists seamless and productive. For example, in December 2023, the Australian Bureau of Statistics, a government agency based in Australia, revealed a rise in domestic tourism spending by $34.9 billion to $124.9 billion in 2022-2023, and international tourism experienced a $17.7 billion increase, amounting to $23.6 billion in chain volume terms. Thus, the growth of the travel and tourism industry fuels the growth of the gas station equipment market.
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Which Key Market Leaders Are Driving Gas Station Equipment Industry Growth?
Major companies operating in the gas station equipment market are Dover Corporation, Gilbarco Inc., Franklin Fueling Systems LLC, MADIC Group, Censtar Science & Technology Corp. Ltd, Scheidt & Bachmann GmbH, Beijing Sanki Petroleum Technology Co. Ltd., Mepsan A.S., Husky Corporation, Syntech Systems Inc., Piusi S.p.A., Bennett Pump Company, Krampitz Tanksystem GmbH, TECALEMIT Inc., Catlow Inc., Tatsuno Corporation, Blue1 Energy Equipment, Lumen Instruments, Zhejiang Datian Machine Co. Ltd., ELAFLEX HIBY GmbH & Co., Peltek India, Shenzhen Kaisai Electric Motor Co. Ltd., Lanfeng Technology Inc., Sanki Technology Co. Ltd., NEOTEC
What Are the Emerging Trends in the Gas Station Equipment Industry?
Leading businesses in the gas station equipment sector are focusing on innovation and the creation of advanced products equipped with technologies like the Artificial Intelligence of Things (AIoT). This is done to enhance operational effectiveness, better customer service, and fine-tune fuel management systems. AIoT significantly upgrades gas station equipment by facilitating predictive maintenance, streamlining fuel management, and offering invaluable data analytics for smarter decision-making. An example of such innovation was seen in May 2024. Beijing Sanki Petroleum Technology Co. Ltd, a manufacturing firm based in China, introduced the Skyline AIoT fuel dispenser series at the UNITI Expo 2024. The Skyline AIoT series features AIoT fuel dispensers armed with integrated cloud services, superior connectivity, and multiple payment options. The highlight of the new Skyline fuel dispenser is its vending + fueling combo feature, complemented by a highly-visible 43-inch industrial-grade touch screen, and an in-built AIoT cloud service along with AI cloud management.
What Are the Main Segments in the Gas Station Equipment Market?
The gas station equipment market covered in this report is segmented -
1) By Type: Tanks, Fuel Dispensers, Nozzles, Pump, Hose, Parts
2) By Application: Gasoline, Diesel, Biofuel, Other Applications
3) By End User: Contractors, Dealers, Fleet Owners, Oil And Gas Companies, Retail Service Stations
Subsegments
1) By Tanks: Above-ground Tanks, Underground Tanks
2) By Fuel Dispensers: Single-Product Dispensers, Multi-Product Dispensers, Smart Dispensers
3) By Nozzles: Automatic Nozzles, Manual Nozzles
4) By Pump: Submersible Pumps, Suction Pumps
5) By Hose: Fuel Hoses, Vapor Recovery Hoses
6) By Parts: Valves, Filters, Metering Devices, Other Spare Parts
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Which Geographic Area Leads the Gas Station Equipment Market?
Asia-Pacific was the largest region in the gas station equipment market in 2023. The regions covered in the gas station equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Gas Station Equipment Global Market Report?
- Market Size Analysis: Analyze the Gas Station Equipment Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Gas Station Equipment Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Gas Station Equipment Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Gas Station Equipment Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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