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Gas Station Equipment Market Size

Report ID: GMI12603
Published Date: Dec 2024
Report Format: PDF

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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.

Gas Station Equipment Market

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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.

Gas Station Equipment Market Report Attributes
Report Attribute	Details
Base Year:	2024
Gas Station Equipment Market Size in 2024:	USD 7.1 Billion
Forecast Period:	2025 – 2034
Forecast Period 2025 – 2034 CAGR:	4.7%
2025 – 2034 Value Projection:	USD 10.7 Billion
Historical Data for:	2021 – 2024
No. of Pages:	225
Tables, Charts & Figures:	210
Segments covered:	Type, Fuel Type, End Use, Distribution Channel, Region
Growth Drivers:	Increasing adoption of alternative fuels and EV charging infrastructure. Technological advancements in fuel dispensing and automation systems. Rising demand for energy-efficient and eco-friendly equipment. Expanding transportation networks and urbanization.
Pitfalls & Challenges:	High initial investment and maintenance costs. Regulatory compliance and environmental concerns.

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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.

Authors: Avinash Singh , Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of gas station equipment reached USD 7.1 billion in 2023 and is set to register a CAGR of over 4.7% between 2024 and 2032, driven by the increasing demand for sophisticated fueling systems and energy-efficient technologies.

The direct distribution channel held a 52.6% market share in 2023 and is expected to expand at a CAGR of 4.9% from 2024 to 2032, as it allows manufacturers to build strong relationships with end-users, enabling better customization, faster delivery, and improved after-sales services.

The U.S. market was valued at USD 1.4 billion in 2023 and is expected to witness a CAGR of 5.4% through 2032, supported by its extensive fueling infrastructure and high vehicle ownership rates.

Major players in the industry include Beijing Sanki Petroleum Technology, Bennett Pump Company, Censtar Science and Technology Corp. Ltd., China Hongyang, Dover Corporation, Franklin Fueling Systems, Gilbarco Veeder-Root, Jiangsu Furen Group, Korea EnE Co. Ltd., Peltek, Tatsuno Corporation, Tokheim Group, U-Fuel Corporate HongYang Group, VeriFone, and Wayne Fueling Systems.