Gas station equipment market to grow by 5%

Growth in the travel and tourism industry will be a direct factor behind annual growth of the fuel retailing equipment market.

The gas station equipment market will grow at an annual rate of 5% during the next 5 years, according to a report from MarketResearchReports.biz.

The report, titled “Global Gas Station Equipment Market 2017-2021,” believes that the rise in global income, a higher number of cars on the road and general growth in the transport industry will fuel the demand for gas stations equipment.

One of the key trends identified by the report is the growing presence of technologically advanced fuel dispensers, while the customization of these as per retailers’ requirements is expected to also boost the market.  

“The companies in the market are focusing on introducing several different varieties of high-end fuel dispensers with features such as magnetic card terminal, bar coding, customer identification keypad, scanner, and video screen,” writes the research group.

Geographically, the global gas station equipment market is expected to be dominated by Asia Pacific owing to significant economic development in countries such as South Korea, China, India, and Japan.

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