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The gas station equipment market share is expected to increase by USD 42.7 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.03%.
This gas station equipment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers gas station equipment market segmentation by product (pumps, tanks, c-store equipment, hose, and others) and geography (APAC, Europe, North America, Middle East and Africa, and South America). The gas station equipment market report also offers information on several market vendors, including Beijing Sanki Petroleum Technology Co. Ltd., Censtar Science and Technology Corp. Ltd., Dover Corp., Eaton Sales and Service LLC, Green Petrol Station Equipment Industries, Hines Corp., HongYang Group Co. Ltd., Houpu Clean Energy Co. Ltd., Jiangsu Furen Group, Korea EnE Co. Ltd., Lumen Instruments, Mepsan, Peltek India, Piusi Spa, Scheidt and Bachmann GmbH, SPYRIDIS GROUP, Tatsuno Corp., TOMINAGA Co. Ltd., Vontier Corp., and Zhejiang Datian Machine Co. Ltd. among others.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increased number of gas stations is notably driving the gas station equipment market growth, although factors such as intense competition in the market may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the gas station equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Gas Station Equipment Market Driver
The increased number of gas stations is one of the factors driving the gas station equipment market growth. There is an increase in the manufacturing of cars, trucks, and other vehicles globally due to increasing disposable income in various regions. Hence, the number of gas stations with alternate fuel dispensing machines is increasing. Meanwhile, governments have come forward to promote the use of alternate fuels to control pollution. For instance, in 2020, India's Petroleum and Natural Gas and Steel Ministry announced a plan to open 1000 liquid natural gas stations across the country by 2023. In addition, in the US, the number of retail convenience stores is also increasing rapidly. Thus, the increasing number of convenience stores will drive market growth during the forecast period.
Key Gas Station Equipment Market Trend
The growth of technologically advanced fuel dispensers is one of the key gas station equipment market trends fueling the market growth. Currently, manufacturers are introducing many advanced fuel dispensers in the market, which have an interactive video screen, scanner, customer identification keypad, barcoding, and magnetic card terminal. Some fuel dispensers also have the facility to identify and record the details of customers. Since each customer is given a unique identification number (UIN), they can keep track of their transactions. Moreover, manufacturers are introducing customized fuel dispensers according to the requirements of retailers. Thus, many gas station owners are replacing their old fuel dispensers with new advanced fuel dispensers. Such an increase in replacement will fuel the market growth during the forecast period.
Key Gas Station Equipment Market Challenge
Intense competition in the market is one of the key factors challenging the gas station equipment market growth. The global gas station equipment market is fragmented and competitive, which acts as a key challenge for manufacturers to strengthen their foothold in emerging markets for gas detection equipment. Furthermore, the rising competitiveness in terms of the price of the gas station in the global gas detection station market indicates that businesses may not automatically provide profits from day-to-day operations. On the other hand, there is a rise in counterfeit products in developing regions, which will pose a challenge to manufacturers and end-users in the global gas station equipment market.
This gas station equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global gas station equipment market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the gas station equipment market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the gas station equipment market encompasses successful business strategies deployed by the key vendors. The gas station equipment market is fragmented and the vendors are deploying growth strategies such as focusing on launching new variants of gas station equipment to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The gas station equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the gas station equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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34% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the gas station equipment market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increasing number of investments in the oil and gas industry, especially to encourage the adoption of unconventional energy resources such as CNG will facilitate the gas station equipment market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 adversely impacted the regional market. However, lockdown restrictions were removed in 2021 due to extensive vaccination drives across the region. It allowed for the restoration of different industrial and construction operations, which is expected to boost the growth of the market during the forecast period owing to increasing demand for gas across most end-user industries.
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The gas station equipment market share growth by the pumps segment will be significant during the forecast period. Fuel transfer pumps are manufactured according to the type of fuel and depending on the volume of the fuel to be filled, the fuel pumps come in different powers. Some pumps come with fittings, suctions, hoses, and manual or automatic nozzles. Moreover, the sales of fuel transfer pumps are influenced by the growing demand for mobile gas stations. These factors will propel the segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the gas station equipment market size and actionable market insights on post COVID-19 impact on each segment.
Gas Station Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.03% |
Market growth 2022-2026 |
$ 42.7 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.21 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 34% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Beijing Sanki Petroleum Technology Co. Ltd., Censtar Science and Technology Corp. Ltd., Dover Corp., Eaton Sales and Service LLC, Green Petrol Station Equipment Industries, Hines Corp., HongYang Group Co. Ltd., Houpu Clean Energy Co. Ltd., Jiangsu Furen Group, Korea EnE Co. Ltd., Lumen Instruments, Mepsan, Peltek India, Piusi Spa, Scheidt and Bachmann GmbH, SPYRIDIS GROUP, Tatsuno Corp., TOMINAGA Co. Ltd., Vontier Corp., and Zhejiang Datian machine Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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