Gas Station Equipment Market Growth Trajectory Through 2024-2033

The Gas Station Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Gas Station Equipment Global Market Report 2024, The gas station equipment market size has grown strongly in recent years. It will grow from $6.32 billion in 2023 to $6.72 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to improve ventilation systems in service areas, government regulations, rising fuel demand, investments in infrastructure development, and rural electrification projects.

The gas station equipment market size is expected to see strong growth in the next few years. It will grow to $8.63 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to expansion of hydrogen fueling stations, introduction of multi-fuel Dispensers, enhance safety features, expansion of convenience stores, and introduction of eco-friendly equipment. Major trends in the forecast period include shift to electric vehicles charging stations, renewable energy integration, automated fueling systems, contactless payment systems, and smart tank monitoring systems.

The expansion from the travel and tourism industry is expected to propel the growth of the gas station equipment market going forward. The travel and tourism industry encompasses all activities and services related to the movement of people from one location to another for leisure, business, or other purposes. The expansion of the travel and tourism industry is primarily due to improved global air travel accessibility, growing consumer demand for travel experiences, and supportive government policies. Gas station equipment supports the travel and tourism industry by providing reliable fuel supplies, enhancing customer convenience, ensuring safety, and offering additional services, facilitating smooth and efficient travel experiences for tourists. For instance, in December 2023, according to the Australian Bureau of Statistics, an Australian-based government administration, in 2022-2023, domestic tourism spending surged by $34.9 billion, reaching $124.9 billion, while international tourism saw an increase of $17.7 billion, reaching $23.6 billion in chain volume terms. Therefore, the expansion of the travel and tourism industry is driving the growth of the gas station equipment market.

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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

Major companies operating in the gas station equipment market are developing innovative products with advanced technologies, such as artificial intelligence of things (AIoT), to enhance operational efficiency, improve customer experience, and optimize fuel management systems. Artificial Intelligence of Things (AIoT) enhances gas station equipment by enabling predictive maintenance, optimizing fuel management, improving, and providing data analytics for informed decision-making. For instance, in May 2024, Beijing Sanki Petroleum Technology Co. Ltd, a China-based manufacturing company, unveiled its Skyline AIoT fuel dispenser series at UNITI Expo 2024. The Skyline AIoT series comprises AIoT fuel dispensers with integrated cloud services, advanced connectivity, and versatile payment capabilities. The new Skyline fuel dispenser’s main features include vending + fueling combo functionality. It has an Ultra-bright 43-inch industrial-grade touch screen, with AIoT integrated cloud service and AI cloud management capabilities

The gas station equipment market report table of contents includes:

1. Executive Summary
2. Gas Station Equipment Market Characteristics
3. Gas Station Equipment Market Trends And Strategies
4. Gas Station Equipment Market – Macro Economic Scenario
5. Global Gas Station Equipment Market Size and Growth
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32. Global Gas Station Equipment Market Competitive Benchmarking
33. Global Gas Station Equipment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Gas Station Equipment Market
35. Gas Station Equipment Market Future Outlook and Potential Analysis
36. Appendix

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