Press release
Global Gas Station Equipment Market Outlook 2025-2034: Trends, Innovations, And Future Outlook
Gas Station Equipment
What Is the Gas Station Equipment Market Size and Projected Growth Rate?
The gas station equipment market has seen steady growth in recent years. It will grow from $6.72 billion in 2024 to $7.17 billion in 2025, at a CAGR of 6.6%. Growth is driven by factors like improved ventilation systems, rising fuel demand, and infrastructure development investments.
The gas station equipment market is expected to experience significant growth over the next few years, reaching $9.17 billion by 2029 at a compound annual growth rate (CAGR) of 6.4%. The growth during this period is primarily driven by the expansion of hydrogen fueling stations, the introduction of multi-fuel dispensers, improvements in safety features, the expansion of convenience stores, and the introduction of eco-friendly equipment. Key trends in the forecast period include a shift towards electric vehicle charging stations, integration of renewable energy, development of automated fueling systems, contactless payment methods, and smart tank monitoring systems.
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What Are the Major 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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What Are The Driving Gas Station Equipment Market Evolution?
The expansion of the travel and tourism sector is expected to boost the gas station equipment market. The travel and tourism industry includes services and activities related to travel for leisure or business. This expansion is fueled by enhanced air travel accessibility, rising consumer interest in travel, and supportive government initiatives. Gas station equipment plays a crucial role by ensuring fuel availability, convenience, safety, and extra services that enhance travelers' experiences. For example, in December 2023, the Australian Bureau of Statistics reported that domestic tourism spending surged by $34.9 billion to $124.9 billion in 2022-2023, while international tourism rose by $17.7 billion to $23.6 billion in chain volume terms. Hence, the travel and tourism industry's growth is positively impacting the gas station equipment market.
Which Firms Dominate The Gas Station Equipment Market Segments?
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 Latest Developing Trends in the Gas Station Equipment Market?
Major players in the gas station equipment market are focusing on creating innovative products, utilizing advanced technologies like the Artificial Intelligence of Things (AIoT) to provide enhanced operational efficiency and customer satisfaction, as well as optimise fuel management systems. The integration of AIoT in gas station equipment facilitates predictive maintenance, ideal fuel management, and useful data analytics for better decision-making. A noteworthy example of this trend can be seen in May 2024 when Beijing Sanki Petroleum Technology Co. Ltd, a manufacturer based in China, showcased its Skyline AIoT fuel dispenser series at the UNITI Expo 2024. This series features AIoT fuel dispensers with cloud services, enhanced connectivity, and multiple payment options. The new Skyline fuel dispensers offer features like a vending + fueling combo function and come with a 43-inch industrial-grade touch screen, AIoT powered cloud service, and AI cloud management capabilities.
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Which Is The Largest Region In 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Gas Station Equipment Market?
2. What is the CAGR expected in the Gas Station Equipment Market?
3. What Are the Key Innovations Transforming the Gas Station Equipment Industry?
4. Which Region Is Leading the Gas Station Equipment Market?
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