No products in the cart.
Gas Station Equipment Market Size - By Type, By Fuel Type, By End User, By Distribution Channel Analysis, Share, Growth Forecast, 2024 - 2032
Report ID: GMI12603
|
Published Date: December 2024
|
Report Format: PDF
Download free sample
Get a free sample of Gas Station Equipment Market
Get a free sample of Gas Station Equipment Market
Is your requirement urgent? Please give us your business email for a speedy delivery!
Buy Now
Immediate Delivery
$4,123 $4,850
15% off
$4,280 $5,350
20% off
$5,845 $8,350
30% off
Buy now
Premium Report Details
Base Year: 2024
Companies covered: 15
Tables & Figures: 210
Countries covered: 16
Pages: 225
Download Free Sample
Gas Station Equipment Market Size
The global gas station equipment market size was valued at USD 7.1 billion in 2023 and is anticipated to register a CAGR of over 4.7% between 2024 and 2032, propelled by the increasing demand for sophisticated fueling systems and energy-efficient technologies.
The global emphasis on reducing carbon emissions has led to a substantial increase in the adoption of alternative fuel options, including compressed natural gas (CNG), hydrogen, and electric vehicle (EV) charging stations. This shift in energy preferences is compelling gas station operators to invest in state-of-the-art dispensing equipment, advanced storage solutions, and integrated software systems to address the evolving needs of consumers.
The gas station equipment market is further bolstered by rapid urbanization and the expansion of transportation networks. The surge in population growth and increased vehicle ownership, particularly in developing regions, necessitates the establishment of new fueling infrastructure to meet rising demand. Moreover, the integration of cutting-edge automated payment systems, remote monitoring capabilities, and enhanced customer experience tools is attracting substantial investments from fuel retailers.
The National Association of Convenience Stores (NACS) reports that the number of convenience stores selling motor fuels in the United States increased by 0.2% in 2020, reaching 121,538 stores, underscoring the ongoing growth in fueling infrastructure.
Gas Station Equipment Market Trends
Several key trends are shaping the gas station equipment industry. Automation is gaining prominence, with stations increasingly implementing self-service kiosks, advanced digital payment systems, and sophisticated remote monitoring capabilities. The Petroleum Equipment Institute reports that over 70% of gas stations in the United States now offer some form of self-service technology, highlighting the widespread adoption of automated solutions.
The market is also witnessing rapid growth in eco-friendly fueling options. The International Energy Agency (IEA) projects that the number of public EV charging stations worldwide will increase from 1.3 million in 2020 to 16.3 million by 2030. This forecast indicates a significant shift towards sustainable fueling infrastructure in the coming years.
Gas Station Equipment Market Analysis
The gas station equipment sector faces significant financial hurdles due to substantial initial capital requirements and ongoing maintenance costs. Advanced fueling systems, including electric vehicle (EV) charging stations and hydrogen dispensers, demand considerable upfront investments. Furthermore, the continuous upkeep and upgrades necessary to comply with evolving safety and environmental regulations contribute to rising operational expenses for gas station owners. These financial constraints can hinder the adoption of innovative technologies, particularly among smaller or independently operated stations.
According to the National Association of Convenience Stores (NACS), the average cost to construct a new gas station in the United States ranges from $3 million to $5 million, with equipment costs comprising a substantial portion of this investment. This data underscores the significant financial commitment required to enter or expand within the industry.
Based on type, the market is classified into Tanks, Fuel Dispensers, Nozzles, Pumps, Hoses, Tire Inflators, C-store Equipment and Others (Pump Filters, etc.). Tanks dominated the market in 2023, acquiring a market of USD 2.1 billion and are expected to grow at a CAGR of 4.6% during the forecast period. Tanks are essential in the gas station equipment market due to their crucial role in fuel storage and safety.
Advanced tank technologies, including double-walled and corrosion-resistant designs, ensure environmental compliance and reduce fuel leakage risks. The increasing demand for alternative fuels such as CNG and hydrogen has further driven the need for specialized storage tanks, reinforcing their significance in the market.
Based on distribution channel, the market is segmented into direct and indirect. The direct segment dominated the market in 2023 by acquiring a market share of 52.6% and are expected to expand at a CAGR of 4.9% from 2024 to 2032. The direct distribution channel is prominent in the gas station equipment market as it allows manufacturers to build strong relationships with end-users. This approach enables better customization, faster delivery, and improved after-sales services. Direct sales also provide companies with valuable customer feedback, enhancing brand loyalty and maintaining a competitive advantage.
U.S. gas station equipment market accounted for USD 1.4 billion in 2023 and is expected to witness a CAGR of 5.4% through 2032, underpinned by its extensive fueling infrastructure and high vehicle ownership rates. According to the National Association of Convenience Stores (NACS), as of 2021, there were approximately 150,000 fuel retailers in the United States, serving a population with over 276 million registered vehicles. This robust market is experiencing a significant shift towards alternative fueling solutions, particularly electric vehicle (EV) charging stations.
North America: The United States maintains a preeminent position in the global gas station equipment market, underpinned by its extensive fueling infrastructure and high vehicle ownership rates. According to the National Association of Convenience Stores (NACS), as of 2021, there were approximately 150,000 fuel retailers in the United States, serving a population with over 276 million registered vehicles.
Similarly, Canada also plays a pivotal role in the gas station equipment market, with a pronounced emphasis on sustainable energy solutions. The country is witnessing a notable increase in the adoption of alternative fueling options, including electric vehicles and hydrogen fuel cell vehicles. According to Natural Resources Canada, the number of public EV charging stations in the country increased by 29% between 2020 and 2021, reaching over 6,000 locations. This trend is prompting gas stations to diversify their offerings to meet the evolving demand for alternative fuels.
Europe: The Europe gas station equipment market with a market share of around 28.6 % in 2023 and anticipated to grow with a CAGR of around 4.9% during the forecast period. The European market plays a crucial role in shaping the global gas station equipment industry. Stringent environmental regulations and a strong push towards alternative fuels have positioned Europe at the forefront of innovation in this sector. The region's commitment to sustainability has resulted in a rapid proliferation of electric vehicle (EV) charging stations, hydrogen fueling systems, and energy-efficient equipment.
In terms of country, Germany market expressing notable growth rate of around 5.4% in 2023. Germany, in particular, has emerged as a leader in the European gas station equipment market. The country's advanced technological capabilities and unwavering commitment to sustainability have propelled it to the forefront of innovation. As Europe's largest automotive market, Germany has been at the vanguard of electric mobility and alternative fueling solutions, including hydrogen. The German government's policies and substantial investments in infrastructure have fostered an environment conducive to the adoption of state-of-the-art fueling systems and environmentally friendly gas station equipment.
Asia Pacific: The APAC gas station equipment market with a market share of around 22.2% in 2023 and anticipated to grow with a CAGR of around 5.1% during the forecast period. The Asia-Pacific region has emerged as a significant contributor to the market, driven by rapid industrialization, urbanization, and increasing vehicle ownership rates. According to the International Energy Agency (IEA), the region's oil demand is projected to grow by 3.5 million barrels per day between 2022 and 2028, underscoring the need for expanded fueling infrastructure.
In terms of country, China market expressing notable growth rate of around 5.2% in 2023. China stands at the forefront of the Asia-Pacific market, propelled by its expansive automotive industry and government-backed initiatives promoting EVs and sustainable fueling solutions. The China Association of Automobile Manufacturers (CAAM) reported that EV sales in the country reached 6.89 Thousand units in 2022, representing a 93.4% year-on-year increase.
This growth is reflected in the rapid expansion of charging infrastructure, with the China Electric Vehicle Charging Infrastructure Promotion Alliance (EVCIPA) reporting over 5.21 million charging stations installed nationwide as of December 2022. These substantial investments in EV charging stations and alternative fuel infrastructure are shaping the trajectory of the gas station equipment market.
Gas Station Equipment Market Share
The global gas station equipment industry is moderately fragmented, with prominent players, such as Gilbarco Veeder-Root, Wayne Fueling Systems, Tokheim Group S.A.S., Franklin Fueling Systems, Censtar Science and Technology holding a market share of ~30-35%.
In the gas station equipment market, competition is driven by several key factors. Technological innovation stands at the forefront, with companies striving to introduce cutting-edge solutions that enhance operational efficiency and customer experience. According to the National Association of Convenience Stores (NACS), 69% of fuel retailers invested in new technologies in 2022, highlighting the industry's focus on innovation. Product efficiency and sustainability have become increasingly important competitive elements. The integration of automated systems, electric vehicle (EV) charging infrastructure, and alternative fuel solutions such as compressed natural gas (CNG) and hydrogen is reshaping the market landscape. The International Energy Agency (IEA) reports that the number of public EV charging points worldwide increased by 40% in 2022, indicating a growing demand for such equipment in gas stations.
Companies are also differentiating themselves by offering solutions that reduce operational costs. Energy-efficient equipment, advanced digital payment systems, and compliance with evolving regulatory requirements are key areas of focus.
Gas Station Equipment Market Companies
Major players operating in the gas station equipment industry are:
Gas Station Equipment Industry News
This gas station equipment market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Thousand units) from 2021 to 2032, for the following segments:
Click here to Buy Section of this Report
Market, By Type
Market, By Fuel Type
Market, By End Use
Market, By Distribution Channel
The above information is provided for the following regions and countries: