Transparency Market Research
Gas station equipment refers to the category that covers an eclectic range of products, especially designed for gas stations. Gas station is usually associated with products, such as, fuel dispensers, pumps, tanks, c-store equipment, hose, meters, and nozzles. These equipment are essential in a gas station to keep it running smoothly and for dispensing gas properly. Manufacturers of gas station equipment are vigorously looking to add innovative elements to their product category, by upgrading their manufacturing technology, besides launching new product lines. New-generation gas station equipment are designed to serve to the practical working surroundings and needs of gas stations. There are various types of gas station equipment available in the market; however, choosing the right type of equipment is imperative. Important parameters for selecting gas station equipment include material, quality, cost, safety, and time.
The gas station equipment market is expected to witness steady growth rate in the near future. Increase in the number of gas stations and rapid growth of the global travel and tourism industry are the key factors expected to drive the gas station equipment market during the forecast period. Increase in the use of vehicles is augmenting fuel consumption, which is likely to boost the demand for gas station equipment. Furthermore, rise in inbound and outbound tourism, along with increase in national and international transportation, which eventually creates the demand for gas station, is expected to propel the gas station equipment market in the next few years. Additionally, rise in disposable income of people is encouraging the sale of cars, trucks, and other vehicles globally and with increase in focus on green technology and environment preservation, demand for alternative fuels, such as, hydrogen, compressed natural gas (CNG), etc. has also amplified. This has boosted the growth of gas stations with alternate fuel dispensing machines across the globe, which is a positive development for the gas station equipment market. However, high initial capital investment and rise of electric vehicles are poised to act as restraints to the growth of the market during the forecast period. Technologically advanced fuel dispensers and advancement in pumps with chip-enabled card acceptance technology are the latest trends of the gas station equipment market. Manufacturers have introduced new varieties of advanced fuel dispensers with features, such as, identification keypad, screen, magnetic card terminal, interactive video scanner, and customer bar coding.
The global gas station equipment market can be segmented in terms of product type and region. Based on product type, the market can be classified into pumps, fuel dispensers, meters, tanks, c-store equipment, filters, nozzles, hose, and others. In terms of region, the gas station equipment market can be been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The gas station equipment market in North America can be classified into the U.S., Canada, Mexico, and Rest of North America. The market in Asia Pacific can be categorized into Australia, Japan, China, India, and Rest of Asia Pacific, while that in Europe into the U.K., Germany, Italy, and Rest of Europe. Asia Pacific is emerging as a rapidly growing market for gas station equipment. Countries, such as, China, Japan, India, and South Korea are the key revenue generators of the gas station equipment market in Asia Pacific. Steady economic growth in emerging countries, such as, China and India is boosting the market potential of passenger cars and attracting global automobile manufacturers for foreign direct investments (FDI) in the region.
The global gas station equipment market is characterized by the presence of several small and medium-sized players. Key players operating in the global gas station equipment market include Gilbarco Inc, Censtar, Dover Corporation, Tatsuno Corporation, Beijing Sanki Petroleum Technology Co., Ltd., Bennett Pump Company, Krampitz Tanksystem GmbH, Chengdu Huaqi Houpu Holding Co., Ltd., Tominaga Mfg Co., LanFeng Co., Ltd., Dem G. Spyrides SA, U-Fuel, Scheidt & Bachmann GmbH, and Wayne Fueling Systems LLC. Companies with better technical and financial resources can develop innovative gas station equipment and raise the competition in the market. Therefore, companies must continue to develop new technologies and stay abreast of emerging trends that can impact their position in the global gas station equipment market. In addition to intense competition, the market is expected to witness various service differentiation strategies. Hence, companies must focus on their 3PL services to survive in the industry.
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