Global market scenario for gas station equipment

In a recent development as per a leading market analyst forecast the global gas station equipment market is most likely to grow at a CAGR of close to 6 %. The market study covers the present scenario and growth prospects of the global gas station market for the four year period between 2017 and 2021. The report is one which was prepared based on the top vendors in the market along with a forecast of the emerging trends and drivers, which are likely to impact the market during the forecast period.

As per the report, the following are the 3 market drivers that are contributing to the growth of the global gas station equipment market:

·         Due to the Increased number of gas stations

·         Apart from this there has been an Increase in inbound and outbound tourism

·         Increased national and international transportation

Increased number of gas stations

Increasing disposable income in various regions is encouraging the sale of cars, trucks, and other vehicles globally. In 2015, in Asia, the sales of new vehicles increased by 21%. In China, the sales volume

of new vehicles increased by 32%. This has increased the number of fuel stations globally.

Moreover, with increased focus on environment preservation and green technology, the demand for alternative fuels like compressed natural gas (CNG), hydrogen, and others has also increased. Thus from the report it is quite clear that the number of gas stations with alternate fuel dispensing machines is increasing globally, which emerges as a positive development for the gas station equipment market.

Increased inbound and outbound tourism

It is been observed that there was a significant growth in the global travel and tourism industry. This meant an increased disposable income and easy accessibility to information on various places, hotels, flights, trains, and bus bookings through the internet. This enabled many middle-class people to explore new tourist destinations. This has ultimately impacted the demand for fuel and fuel stations.

Increased national and international transportation

The global logistics market is also expected to grow rapidly over the forecast period. The growth is mainly on account of the increase in import and export activities. The resurgence of the global economy has resulted in increased trade volumes between countries. There was growth in number of imports and exports between nations have lowered trade barriers because of the relaxation of government trade policies.

So with the increased demand for gas station equipment globally, there was great growth in Rebuilt Gas Dispensers as well. In case you are a gas station owner you even trade used gas pump.