Top Market Shifts Transforming the Gas Station Equipment Market Landscape: Key Insights

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What Is the Expected CAGR for the Gas Station Equipment Market Through 2025?
Over the recent past, the gas station equipment market has experienced steady expansion. It is touted to expand from a valuation of $6.72 billion in 2024 to an impressive $7.05 billion in 2025, showcasing a compound annual growth rate (CAGR) of 4.9%. Various factors have influenced this growth during the historical period, including improvements in the ventilation systems at service locations, governmental regulations, a surge in fuel needs, investment in the evolution of infrastructure, and projects related to the electrification of rural areas.

What's the Projected Size of the Global Gas Station Equipment Market by 2029?
Expectations suggest that the gas station equipment market will experience significant growth in the coming years. Its market size is expected to reach a whopping $8.88 billion by 2029, with a compound annual growth rate (CAGR) of 5.9%. Such predicted growth propped by the expansion of hydrogen fueling stations, the advent of multi-fuel dispensers, enhanced safety measures, the proliferation of convenience stores, and the development of eco-friendly equipment. The market forecast period also sees key trends such as the transition towards electric vehicle charging stations, inclusion of renewable energy, automation of fueling systems, the advent of contactless payment systems, and the implementation of intelligent tank monitoring systems.

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Top Growth Drivers in the Gas Station Equipment Industry: What's Accelerating the Market?
The growth of the gas station equipment market is suspected to be spurred by the burgeoning travel and tourism industry. The latter encompasses all the activities and services related to people moving from one place to another for various reasons such as leisure or business, amongst others. The industry's growth can be attributed to better accessibility to global air travel, consumers' increasing demand for travel experiences, and support from government policies. Gas station equipment bolsters the travel and tourism industry by ensuring a dependable supply of fuel, augmenting customer convenience, promising safety, and offering extra services that smooth the way for tourists to have efficient travel experiences. A case in point is in December 2023, the Australian Bureau of Statistics, a government organization based in Australia, reported that in 2022-2023, domestic tourism expenditure soared by $34.9 billion to hit $124.9 billion. Meanwhile, international tourism experienced a rise of $17.7 billion, reaching $23.6 billion in chain volume terms. It is, therefore, clear that the gas station equipment market's growth is being fueled by the expanding travel and tourism industry.

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Which Fast-Growing Trends Are Poised to Disrupt the Gas Station Equipment Market?
Primary businesses in the gas station equipment market are introducing innovative products that incorporate cutting-edge technologies such as the Artificial Intelligence of Things (AIoT). These advancements aim to boost operational efficacy, enrich customer service, and streamline fuel management systems. AIoT greatly improves gas station apparatus by facilitating predictive maintenance, fuel management optimization, enhancements, and supply data analytics for data-driven decision-making. As an exemplification, in May 2024 Beijing Sanki Petroleum Technology Co. Ltd, a manufacturing firm based in China, launched its Skyline AIoT fuel dispenser range at UNITI Expo 2024. The Skyline AIoT range consists of AIoT fuel dispensers furnished with integrated cloud services, sophisticated connectivity, and flexible payment alternatives. The most notable features of the fresh Skyline fuel dispenser are its vending + fueling combo functionality, along with an ultra-bright 43-inch industrial-grade touchscreen, equipped with AIoT infused cloud service and AI cloud management capabilities.

What Are the Main Segments in the Gas Station Equipment Market?
The gas station equipmentmarket 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 2024. 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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