Published Date : Mar 29, 2017
ALBANY, New York, March 29, 2017: MarketResearchReports.biz has announced the addition of a new market intelligence study to its report repository. The publication is titled, “Global Gas Station Equipment Market 2017-2021.” The study examines the growth of the market followed over the last few years and the prospects of growth in the near future, mainly in terms of sales. The research report details out the causes accountable for the variations in the market and analyses them thoroughly. The impact of certain trends has also been discussed in the report. It further provides data on the market shares, strategies, and products of leading companies.
Gas station is unit or facility where fuels such as CNG, LPG, diesel, petrol are sold to customers. Gas station equipment comprises filters, fuel pumps, fuel tanks, and fuel dispensers. Several gas stations also include convenience stores for people to buy beverages, food products, and other products. According to the report, the global gas station equipment market is expected to rise at a CAGR of above 5% at the course of the forecast period. The primary factor influencing the growth of the market is the substantial growth in the travel and tourism industry worldwide. With the rise in disposable income of people across the globe, especially in developing regions is enabling them to have easy access to information on bus, train, flight, hotel, and destination bookings. This has enabled middle class people to visit new tourist destinations. This, in turn, is expected to escalate the demand for transportation services, thus benefitting the gas station equipment market indirectly.
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One of the trends which have been recently gaining traction is the growth of the technologically advanced fuel dispensers market. The companies in the market are focusing on introducing several different varieties of high-end fuel dispensers with features such as magnetic card terminal, bar coding, customer identification keypad, scanner, and video screen. Furthermore, the introduction of customized fuel dispensers as per the retailers’ requirements is expected to boost the growth of the global gas station equipment market in the near future.
Based on product, the global gas station equipment market is segmented into filters, fuel dispensers, nozzles, meters, hose, c-store equipment, tanks, and pumps. In 2016, the segment of pumps dominated the market and is likely to retain a leading position by the end of the forecast period owing to the availability of different types fuel transfer pumps manufactured to suit different needs. Geographically, the global gas station equipment market is expected to be dominated by Asia Pacific owing to significant economic growth in countries such as South Korea, China, India, and Japan. Some of the leading companies in the market are Dover Corporation, Censtar, Gilbarco Veeder-Root, Wayne Fueling Systems, Tatsuno, and Bennett Pump.
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