Gas Station Equipment Market: Size, Dynamics, Regional Insights and Market Segment Analysis – By Type (Tanks, Pumps, Fuel Dispensers, C-store equipment, Hoses), Application (For Gasoline, Diesel, Biofuel, CNG) and Region

The Gas Station Equipment Market size was valued at USD 44.13 Billion in 2023 and the total Gas Station Equipment Market revenue is expected to grow at a CAGR of 6.16% from 2024 to 2030, reaching nearly USD 67.10 Billion by 2030.
Gas Station Equipment Market Overview
Gas station equipment refers to the tools and machinery used in the operation of gas stations such as fuel dispensers, underground storage tanks, pumps, Fuel dispensers, and others. The gas station equipment market is experiencing significant growth, driven by the global expansion of gas stations, particularly in emerging markets. As new fuel stations continue to be established, the demand for essential equipment such as fuel dispensers, underground storage tanks, pumps, and convenience store items has surged. This demand is further accelerated by the ongoing modernisation of outdated infrastructure and the shift towards alternative fuels like compressed natural gas (CNG) and electric vehicle (EV) charging solutions. The integration of smart technologies such as mobile apps, self-service pumps, and EV charging stations has revolutionised the customer experience at gas stations. The growing adoption of electric vehicles has led to installing EV charging stations across many fuel stations, creating new opportunities for equipment manufacturers.

The competitive landscape of the gas station equipment market is characterized by the presence of both established players and emerging companies. Key players such as Gilbarco Veeder-Root and Dover Corporation are leading the market through strategic expansions, acquisitions, and the introduction of new technologies. For example, Gilbarco Veeder-Root recently launched Konect, a comprehensive EV charging solution that simplifies the installation and operation of EV infrastructure. Meanwhile, Dover Corporation strengthened its market position with the acquisition of FW Murphy Production Controls, enhancing its capabilities in clean energy technologies. These developments highlight the ongoing innovation and strategic growth efforts within the gas station equipment market. Regionally, Asia-Pacific is leading the charge, with countries like China and India investing heavily in fuel infrastructure. India's gas station infrastructure has expanded significantly, with the number of petrol stations increasing by 45% over the past six years.

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Gas Station Equipment Market Dynamics
Global Expansion of Gas Stations Boosts Equipment Market Demand

The increasing number of gas stations globally significantly drives the growth of the gas station equipment market by creating a higher demand for various essential components. As more gas stations are established, there is a need for a wide range of equipment such as pumps, fuel dispensers, tanks, and hoses to support their operation. Each new station requires a complete setup of these systems to ensure efficient fuel delivery and management. This growth leads to more installations and upgrades to existing equipment, driving the market for gas station equipment manufacturers and suppliers. In addition, as gas stations expand their services to include convenience stores, car washes, and other amenities, the demand for additional amenities such as convenience equipment and advanced payment systems also increases.

In the past six years, the number of gas stations in India has grown significantly, increasing by 45% to reach a total of 60,799 stations.

Additionally, the Indian government’s efforts to increase the use of clean fuels such as Compressed Natural Gas (CNG) has increased demand for specialized pumps. For instance, India is expected to have about 17,500 compressed natural gas (CNG) stations and about 120 million natural gas (CNG) connections by 2030.

The expansion of gas stations is increasingly influenced by innovations such as mobile applications, self-service pumps, and electric charging stations, all of which improve the refueling experience. Mobile apps like GasBuddy, FuelFinder and Waze have revolutionized the way drivers locate and choose gas stations, providing real-time information about the nearest stations, fuel prices, and accessories like electric charging kiosks and accessible devices. This convenience not only saves time and reduces stress, but also helps drivers save money and find stations that offer the facilities they need, including essential ones for people with disabilities. In addition, the growth of electric vehicles has led to the installation of electric charging stations at many gas stations, reflecting the growing demand for such facilities. Fast charging options at these stations, supported by apps like PlugShare and ChargePoint, address range anxiety and improve the convenience of owning an electric vehicle. As gas stations continue to integrate these technologies, they meet the changing needs of consumers and contribute to a more efficient and accessible fuel infrastructure.

According to the China Society of Automotive Engineers, China promoted the creation of energy stations that offer oil, gas, electricity, and hydrogen. Sales of new energy vehicles are expected to reach 9 million by 2023, up 35%, which is driving oil companies to expand their charging and hydrogen services.

Gas Station Equipment Market Opportunity

The growing popularity of electric vehicles (EVs) offers gas stations a great opportunity to innovate and succeed. In the U.S., the federal government is investing heavily in EV charging stations, especially at gas stations and truck stops. With a planned $6.1 billion investment in charging infrastructure in 2024, now is the perfect time for gas stations to adopt EV technology. Tools like the Driivz platform help manage EV charging networks effectively, allowing gas stations to integrate new tech, control energy costs, and meet rising demand. By using smart charging solutions and adjusting to new energy trends, gas station operators can turn current challenges into opportunities for growth and ensure long-term success.

The expansion of electric vehicle (EV) charging infrastructure represents a significant opportunity for the gas station equipment market. As EV adoption continues to grow, driven by environmental policies, advances in battery technology, and growing consumer awareness, there is a growing need for affordable and efficient charging stations. Gas stations can take advantage of this trend by integrating electric vehicle charging facilities into their operations. This integration not only attracts a new segment of customers who switch to electric vehicles, but also positions traditional gas stations as multifaceted service centers.

As of 2024, there are 45% of EV Owners charge their vehicles at public charging stations.

In addition, the shift towards electric vehicle charging infrastructure is encouraging the adoption of smart and digital solutions in the gas station equipment market. This includes the implementation of advanced load management systems, which optimize energy consumption and provide real-time data on load performance. These systems improve operational efficiency and customer experience by offering features such as remote monitoring, predictive maintenance, and dynamic pricing.

The U.S. federal government plans to invest USD 7.5 billion for electric vehicle charging, of which USD 5 billion is dedicated to building a network of chargers along major highways.
Gas Station Equipment Market Segment Analysis
Based On Type, the Gas Station Equipment Market is segmented into Tanks, Pumps, Fuel Dispensers, C-store equipment, Hoses, and Others. In 2023, the Pumps Segment dominated the gas station equipment market with a share of xx%. Pumps are essential components of gas stations, responsible for efficiently moving fuel from storage tanks to the dispensers where vehicles are refueled. The demand for pumps is increasing in both urban and rural areas, as they can handle large amounts of fuel quickly and safely. The Pump Segment is expected to maintain its dominance during the forecasted period (2024-2030). This is due to the increasing number of vehicles in the world, which has increased fuel consumption and demand for more powerful pumping systems. In 2024, there are 1.475 billion cars in the world. This means that there is approximately one car for every 5.5 people, or 182 cars for every 1000 people. Most of these cars are in Asia, followed by Europe and North America, with 19% of all vehicles in the United States.

In regions such as North America and Asia Pacific, significant investments have been made in fuel infrastructure. For instance, the Indian government’s efforts to increase the use of clean fuels such as Compressed Natural Gas (CNG) has increased demand for specialized pumps. For instance, India is expected to have about 17,500 compressed natural gas (CNG) stations and about 120 million natural gas (CNG) connections by 2030. The introduction of smart pump technologies, which offer benefits such as remote monitoring, real-time data analysis, and predictive maintenance, has further strengthened the pump segment. These advances not only make operations more efficient, but also improve the customer experience, strengthening the leadership position of the pump segment in the gas station equipment market.
Gas Station Equipment Market Regional Insight
Asia Pacific is the fastest-growing region in the global gas station equipment market, holding the largest share of XX% in 2023. This is due to the rapid expansion of the automobile industry in countries such as China and India. China has emerged as the world’s largest automotive market, seen a tremendous increase in gas station infrastructure. Chinese government's focus on integrating oil, gas, electricity, and hydrogen services has further bolstered growth within this region. In 2023, the production and sales of new energy vehicles (NEV) in China exceeded 9 million units, maintaining its global leadership position for nine consecutive years. Exports of new energy vehicles increased by 77.6 percent, reaching 1.203 million units, consolidating China's position as a key player in the global shift towards greener automotive technology.

In 2023, there were around 105,800 gas stations in China.



India has also made significant progress, with the number of petrol stations increasing by 45% in the last six years, to a total of 60,799. millions of CNG connections are expected to be established. This shows that India is experiencing significant development in gas station equipment and alternative fuel infrastructure.

India Oil Corp (IOC) owns and operates 26,489 petrol stations, of which 7,232 are rural stations. Hindustan Petroleum Corp Ltd (HPCL) is the second largest fuel retailer with 14,675 outlets, of which 3,159 are in rural locations. Bharat Petroleum Corp Ltd (BPCL) has 14,161 outlets, including 2,548 are rural outlets. In the private sector, Reliance Industries has 1,400 outlets while Royal Dutch Shell has 90.
Gas Station Equipment Market Competitive Landscape
The competitive landscape of the gas station equipment market is characterized by the presence of several key players, each contributing to market growth through innovative strategies and product offerings. HongYang Group Co. Ltd. is the leading Chinese company known for its wide range of fuel dispensers and related equipment, using the latest technology to improve the efficiency and reliability of fuel operations. Jiangsu Furen Group has made significant progress in producing high-quality fuel systems, focusing on energy efficiency and sustainability. Peltek India, a leading player in the Indian market, specializes in developing robust and cost-effective fuel solutions tailored to the needs of emerging markets. Gilbarco Veeder-Root, a global leader, stands out for its comprehensive product portfolio, including payment systems and electric vehicle charging solutions, and constantly innovates to meet the ever-changing demands of the global energy landscape. Together, these companies are shaping the future of the gas station equipment market through a mix of technological advancements, strategic expansions and a strong focus on sustainability.

In October 2023, Dover acquired FW Murphy Production Controls, LLC, a leading supplier of control and optimization solutions for the reciprocating compression industry, for $530 million in cash. This strategic acquisition is set to strengthen Dover's position in the market by integrating FW Murphy into its Precision Components unit within the Pumps & Process Solutions segment, enhancing its capabilities in clean energy and compression technologies.

In May 2024, Gilbarco Veeder-Root introduced Konect, a comprehensive EV charging solution designed to support businesses in deploying electric vehicle charging infrastructure. The Konect platform offers a fully integrated suite of advanced hardware and software solutions aimed at reducing installation and operational costs while maximizing return on investment (ROI) for fuel retailers. By streamlining the process and unlocking new revenue streams, Konect provides a compelling opportunity for businesses to incorporate EV charging stations into their services, positioning them for future growth in the evolving energy market.
Gas Station Equipment Industry Ecosystem

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Global Gas Station Equipment Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
USD 44.13 Bn.


Forecast Period 2024 to 2030 CAGR:
6.16%
Market Size in 2030:
USD 67.10 Bn.


 Segments Covered:
by Type
Tanks
Pumps
Fuel Dispensers
C-store equipment
Hoses
Others


by Application
For Gasoline
For Diesel
For Biofuel
For CNG
Other



Gas Station Equipment Market, by Region:
North America (United States, Canada, Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, ASEAN, and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria, and Rest of ME & A)
South America (Brazil, Argentina, Columbia, and Rest of South America)
Gas Station Equipment Market, Key Players
1. HongYang Group Co. Ltd.
2. Beijing Sanki Petroleum Technology Co. Ltd.
3. Censtar Science and Technology Corp. Ltd.
4. Dover Corperation
5. Jiangsu Furen Group
6. Korea EnE Co. Ltd.
7. Peltek India
8. Piusi Spa
9. Tatsuno Corp.
10. Zhejiang Datian machine Co. Ltd.
11. Gilbarco Veeder-Root
12. Wayne Fueling Systems
13. Tokheim Group S.A.S.
14. Bennett Pump Company
15. VeriFone
16. Tatsuno Corporation
17. Franklin Fueling Systems
18. Jiangyin Furen High-Tech
19. Scheidt and Bachmann GmbH
20. Eaton Sales and Service LLC
21. Mepsan

FAQs:
1. What is the growth driver for the Gas Station Equipment Market?
Ans. The increasing number of gas stations globally significantly drives the growth of the gas station equipment market by creating a higher demand for various essential components.

2. Which region is expected to lead the global Gas Station Equipment Market during the forecast period?
Ans. Asia Pacific Gas Station Equipment Market is expected to lead globally, during the forecast period.

3. What is the projected market size & growth rate of the Gas Station Equipment Market?
Ans. The Gas Station Equipment Market size was valued at USD 44.13 billion in 2023 and the total revenue is expected to grow at a CAGR of 6.16% from 2024 to 2030, reaching nearly USD 67.10 Billion.

4. What segments are covered in the Gas Station Equipment Market report?
Ans. The segments covered in the Gas Station Equipment Market report are by Type, Application, and Region.

5. What is the scope of the Gas Station Equipment Market report?
Ans: The Gas Station Equipment Market report helps with the PESTLE, PORTER, Recommendations for Investors & Leaders, and market estimation of the forecast period.