Press release
Global Trends Overview: The Rapid Evolution of the Gas Station Equipment Market
Gas Station Equipment Market
Market Size Outlook and Growth Drivers in the Gas Station Equipment Market
The gas station equipment market is projected to reach $9.41 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.9%. This notable growth stems from several developments such as the transition toward smart fuel stations, upgrading outdated infrastructure, the rising adoption of biofuel dispensing technologies, increased investments in retail automation, and the expansion of fueling networks along highways. The market's trajectory will also be propelled by innovations like automated fuel dispensing systems, smart dispensers, improved leak detection and safety protocols, modernization of underground storage tanks, and integration of payment-enabled devices.
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Key Companies Leading the Gas Station Equipment Industry
Several prominent players dominate the gas station equipment market, including 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., and NEOTEC.
In a strategic move in January 2023, SPATCO Energy Solutions, a US-based provider specializing in petroleum equipment and EV charging infrastructure, acquired McKinney Petroleum Equipment. This acquisition strengthens SPATCO's capabilities in fueling infrastructure by incorporating McKinney's extensive experience in supplying, installing, and servicing gas station equipment across the Gulf Coast. McKinney Petroleum Equipment offers comprehensive solutions for retail and commercial fueling operations, including forecourt equipment and maintenance services.
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Technological Advances and Trends Accelerating Gas Station Equipment Market Growth
Leading companies in the gas station equipment space are focusing on developing advanced products that leverage Artificial Intelligence of Things (AIoT) technology. AIoT enhances operational efficiency by enabling predictive maintenance, optimizing fuel management, improving customer interactions, and providing actionable analytics. For example, in May 2024, Beijing Sanki Petroleum Technology Co. Ltd introduced its Skyline AIoT fuel dispenser series at the UNITI Expo 2024. The Skyline dispensers combine fueling and vending functions, feature a large 43-inch ultra-bright industrial touch screen, and incorporate AIoT cloud services and AI cloud management for seamless connectivity and versatile payment options.
Segmenting the Gas Station Equipment Market for Detailed Insights
The market is categorized based on different aspects to better understand its structure and dynamics:
1) By Type: Tanks, Fuel Dispensers, Nozzles, Pumps, Hoses, and Parts
2) By Application: Gasoline, Diesel, Biofuel, and Other Applications
3) By End User: Contractors, Dealers, Fleet Owners, Oil and Gas Companies, and Retail Service Stations
Further subcategories include:
- Tanks: Above-ground Tanks and Underground Tanks
- Fuel Dispensers: Single-Product Dispensers, Multi-Product Dispensers, and Smart Dispensers
- Nozzles: Automatic Nozzles and Manual Nozzles
- Pumps: Submersible Pumps and Suction Pumps
- Hoses: Fuel Hoses and Vapor Recovery Hoses
- Parts: Valves, Filters, Metering Devices, and Other Spare Parts
This detailed segmentation offers a comprehensive view of the market's components and helps stakeholders identify key areas for investment and innovation.
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