NEW YORK , Sept. 7, 2022 /PRNewswire/ -- The gas station equipment market estimates a market value of USD 42.7 billion from 2021 to 2026. The report offers a detailed analysis of the COVID-19 impact on the market and the new opportunities that market players can expect. In addition, the report projects the market to progress at a CAGR of 6.03%. 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. For more highlights on the region - Request a Free Sample Report
Gas Station Equipment Market: Segmentation Analysis
The market research report segments the gas station equipment market by Product (Pumps, Tanks, C-store equipment, Hose, and Others) and Geography (APAC, Europe , North America , Middle East , Africa , and South America ).
Revenue Generating Segment -The gas station equipment market share growth in 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.
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Gas Station Equipment Market: Major 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.
Gas Station Equipment Market: Major 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.
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The competitive scenario provided in the Gas Station Equipment Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don't wait, Make a strategic approach & boost your business goals with our Gas Station Equipment Market Forecast Report - Buy Now!
The high-volume dispensing systems market share is expected to increase by USD 475.67 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.56%.
The cryogenic valve market share is expected to increase by USD 828.94 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.4%.
Gas Station Equipment Market Scope
Accelerate at a CAGR of 6.03%
APAC, Europe, North America, Middle East, Africa, and South America
US, China, Japan, Germany, and the UK
Leading companies, competitive strategies, consumer engagement scope
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.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period,
If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.
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3.4 Market outlook: Forecast for 2021-2026
5.3 Pumps - Market size and forecast 2021-2026
5.4 Tanks - Market size and forecast 2021-2026
5.5 C-store equipment - Market size and forecast 2021-2026
5.6 Hose - Market size and forecast 2021-2026
5.7 Others - Market size and forecast 2021-2026
7.3 APAC - Market size and forecast 2021-2026
7.4 Europe - Market size and forecast 2021-2026
7.5 North America - Market size and forecast 2021-2026
7.6 Middle East and Africa - Market size and forecast 2021-2026
7.7 South America - Market size and forecast 2021-2026
7.8 US - Market size and forecast 2021-2026
7.9 China - Market size and forecast 2021-2026
7.10 Germany - Market size and forecast 2021-2026
7.11 Japan - Market size and forecast 2021-2026
7.12 UK - Market size and forecast 2021-2026
8.3 Impact of drivers and challenges
10.3 Beijing Sanki Petroleum Technology Co. Ltd.
10.4 Censtar Science and Technology Corp. Ltd.
10.7 Houpu Clean Energy Co. Ltd.
10.12 Zhejiang Datian machine Co. Ltd.
11.3 Currency conversion rates for US$
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