Impact of Travel and Tourism Industry on Gas Station Equipment Market: Strengthening the Growth Trajectory of the Gas Station Equipment Market

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What Is the Expected CAGR for the Gas Station Equipment Market Through 2025?
Over the past few years, there has been a robust growth in the market size of gas station equipment. It is projected to increase from $6.72 billion in 2024 to $7.17 billion in 2025, recording a compound annual growth rate (CAGR) of 6.6%. This upward trend in the past can be credited to advancements in ventilation systems in service regions, regulatory measures by the government, escalating fuel requirement, infrastructure development investments and projects pertaining to rural electrification.

What's the Projected Size of the Global Gas Station Equipment Market by 2029?
The market size of gas station equipment is anticipated to experience robust growth in the forthcoming years. By 2029, it's projected to escalate to $9.17 billion with a 6.4% compound annual growth rate (CAGR). This growth throughout the forecasted period is attributed to the proliferation of hydrogen fueling stations, the launch of multifunctional dispensers, the improvement of safety features, burgeoning convenience stores, and the advent of environmentally-friendly equipment. Key trends observed during this period include a transition to electric vehicle charging stations, integration of renewable energy, automation of fueling systems, the utilization of contactless payment methods, and sophisticated tank monitoring systems.

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Top Growth Drivers in the Gas Station Equipment Industry: What's Accelerating the Market?
The projected surge in the travel and tourism sector is set to fuel the growth of the gas station equipment market. The industry of travel and tourism includes all activities and services linked to the transportation of people from one place to another for pleasure, business, or other reasons. The development of this industry heavily leans on better worldwide air travel availability, increasing consumer interest in travel experiences, and supportive governmental policies. Gas station equipment aids in this industry by ensuring robust fuel supplies, elevating user convenience, affirming safety, and offering added amenities, all contributing to comfortable and effective travel experiences for tourists. For instance, as per the Australian Bureau of Statistics, in December 2023, an Australian government body stated that domestic tourism expenditure in 2022-2023 skyrocketed by $34.9 billion, earning a total of $124.9 billion, whereas international tourism recorded an increase of $17.7 billion, which accumulated to $23.6 billion in chain volume terms. Hence, the advancement of the travel and tourism sector is a key catalyst for the expansion of the gas station equipment market.

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What Trends Will Shape the Gas Station Equipment Market Through 2029 and Beyond?
Leading firms in the gas station equipment market are striving for innovation featuring advanced technology solutions like Artificial Intelligence of Things (AIoT) to boost operational capabilities, refine customer services, and fine-tune fuel management systems. Among other achievements, AIoT can improve predictive maintenance and fuel management, and amplify data analytics to support strategic decision-making. An example of this is Beijing Sanki Petroleum Technology Co. Ltd, a manufacturing company based in China. They introduced their Skyline AIoT fuel dispenser series at the UNITI Expo 2024 in May of the same year. This series features AIoT fuel dispensers with comprehensive cloud services, enhanced connectivity, and multiple payment options. Among the key attributes of the new Skyline fuel dispenser are its vending and fueling dual-functionality and its ultra-bright 43-inch industrial-grade touchscreen, coupled with AIoT cloud service and AI cloud management systems.

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 Top Companies are Driving Growth in the Gas Station Equipment Market?
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

Which Regions Will Dominate the Gas Station Equipment Market Through 2029?
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.

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