About Gas Station Equipment
A gas station is a facility where fuels like petrol, diesel, LNG, and CNG are sold. Gas station equipment include fuel dispensers, fuel tanks, fuel pumps, filters, and others. Some gas stations also have convenience stores where people can buy food, beverages, and other items.
Technavio’s analysts forecast the global gas station equipment market to grow at a CAGR of 5.56% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global gas station equipment market for 2017-2021. To calculate the market size, the report considers the revenue generated from the new installations.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Gas Station Equipment Market 2017-2021
Technavio recognizes the following companies as the key players in the global gas station equipment market: Gilbarco Veeder-Root, Censtar, and Dover Corporation.
Other Prominent Vendors in the market are: Beijing Sanki Petroleum, Bennett Pump, Chengdu Huaqi Houpu Holding, Dem. G. Spyrides, Scheidt & Bachmann, Tatsuno, Wayne Fueling Systems, and Zhejiang Datian machine.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growth of technologically advanced fuel dispensers. Manufacturers are introducing many advanced fuel dispensers in the market. These new fuel dispensers have interactive video screen, scanner, customer identification keypad, bar coding, and magnetic card terminal. By using magnetic card terminals, the staff at the fuel station do not need to carry additional credit/debit card machines. Some fuel dispensers also have the facility to identify and record the details of customers.”
According to the report, one of the major drivers for this market is increased national and international transportation. The global logistics market is expected to grow at a rapid pace during the forecast period. The growth is mainly driven by the increase in import and export activities. Companies in major countries like the US, the UK, Germany, and China are outsourcing manufacturing to countries where lower costs are incurred. These countries have also recorded an increase in domestic consumption. Also, the huge demand requires manufacturers to import and export their raw materials and finished goods worldwide.
Further, the report states that one of the major factors hindering the growth of this market is rise of electric vehicles. The demand for EVs is increasing globally. Nearly 6,500 electric cars are sold in the US every month. Tesla, one of the major electric car manufacturers, has already taken orders for more than 370,000 of Model 3. The increasing demand for petrol and decreasing oil resources have led many governments to encourage the sales of electric cars by providing incentives and discounts.
Gilbarco Veeder-Root, Censtar, Dover Corporation, Beijing Sanki Petroleum, Bennett Pump, Chengdu Huaqi Houpu Holding, Dem. G. Spyrides, Scheidt & Bachmann, Tatsuno, Wayne Fueling Systems, Zhejiang Datian machine.