Overview and Scope
Robotic refueling systems refer to automated systems that refuel vehicles or machinery without human interaction, primarily used in industries where efficiency, safety, and precision are critical. This system comprises robotic arms equipped with specialized tools, sensors, and software algorithms to precisely locate and connect fuel nozzles to vehicles or machinery for proper fueling procedures.
Sizing and Forecast
The robotic refueling system market size has grown exponentially in recent years. It will grow from $0.27 billion in 2023 to $0.41 billion in 2024 at a compound annual growth rate (CAGR) of 51.7%. The growth in the historic period can be attributed to surge in robotics demand, growing demand for automation, increased safety concerns, need for efficient fuel dispensation, increase in service centers by robotic refueling system vendors.
The robotic refueling system market size is expected to see exponential growth in the next few years. It will grow to $2.20 billion in 2028 at a compound annual growth rate (CAGR) of 52.1%. The growth in the forecast period can be attributed to rise in the production of oil and gas, rising need for enhanced security, increasing demand for minimum-cost operations in mining, rising adoption of autonomous haulage trucks, rapid surge in globalization and industrialization. Major trends in the forecast period include adoption of autonomous technology, product innovations, increasing number of strategic collaborations, technological advancements, incorporation of innovations and modifications in existing products by robotic manufacturers.
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Segmentation & Regional Insights
The robotic refueling system market covered in this report is segmented –
1) By Component: Hardware, Software
2) By Fuel Pumped: Gasoline, Natural Gas, Petrochemicals, Other Fuels Pumped
3) By Payload-Carrying Capacity: Up To 50 Kg, 50.01-100.00 Kg, 100.01-150.00 Kg
4) By End User: Automotive, Aerospace, Construction, Marine And Shipping, Mining, Military And Defense, Oil And Gas, Warehouse And Logistics, Other End Users
North America was the largest region in the robotic refueling system market in 2023. The regions covered in the robotic refueling system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increase in oil and gas production is expected to propel the growth of the robotic refueling system market going forward. Oil and gas refer to hydrocarbons, naturally occurring substances in rocks in the earth's crust. The increase in oil and gas production is driven by technological innovation, market forces, geopolitical dynamics, and regulatory frameworks that shape the global energy landscape. Robotic refueling systems help minimize downtime by streamlining the refueling process, ultimately enhancing overall productivity in oil and gas production. For instance, according to the Energy Information Administration (EIA), a principal agency of the U.S. Federal Statistical System, in 2023, crude oil production in the United States was an average of 12.4 million barrels per day (b/d) and is forecast to increase to 12.8 million b/d in 2024. Therefore, the rise in oil and gas production is driving the growth of the robotic refueling system market.
Key Industry Players
Major companies operating in the robotic refueling system market are The Boeing Company, Airbus S.A.S, ABB Ltd., Neste Oyj, Fanuc Corporation, KUKA AG, Stäubli Ltd., Plug Power Inc., Scott Technology Ltd., Shaw Development LLC, Husky Corporation, Balyo SA, Imenco AS, Gazpromneft-Aero, Orbit Fab Inc., Aerobotix Inc., Tatsuno Corporation, Stratom Inc., Rotec Engineering B.V., Mine Energy Solutions Pty Ltd., Fuelmatics AB, Autofuel AB, Green Fueling Inc., Wilder Systems Inc, Simon Group Holding
The robotic refueling system market report table of contents includes:
1. Executive Summary
2. Robotic Refueling System Market Characteristics
3. Robotic Refueling System Market Trends And Strategies
4. Robotic Refueling System Market - Macro Economic Scenario
5. Global Robotic Refueling System Market Size and Growth
....
32. Global Robotic Refueling System Market Competitive Benchmarking
33. Global Robotic Refueling System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Robotic Refueling System Market
35. Robotic Refueling System Market Future Outlook and Potential Analysis
36. Appendix
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According to the new market research report on the "Robotic Refueling System Market by Fuel Pumped (Gasoline, Natural Gas, Petrochemicals), Payload-carrying Capacity (Up to 50 kg, 50–100 kg, 100–150 kg), Vertical (Automotive, Mining, Oil & Gas, Aerospace,) and Geography - Global forecast 2030", The robotic refueling system market is expected to grow from USD 25 million in 2019 to USD 2.2 billion by 2030, at a CAGR of 50.0% during forecast period.Browse 61 market data Tables and 37 Figures spread through 122 Pages and in-depth TOC on "Robotic Refueling System Market - Global forecast 2030" Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=84037790Growing requirement for low-cost operations in the mining vertical and the need for improved security and safety while fuel dispensation are the key factors driving the growth of the market.
The increasing adoption of autonomous technology is the key opportunity for the growth of the robotic refueling system market.Market for other types of fuel pumped to grow at highest CAGR during forecast periodThe market for robotic refueling systems used for pumping other types of fuel (such as hydrogen fuel cells, lithium-ion batteries, methanol, biofuel, and biodiesels) is projected to grow at the highest CAGR during the forecast period.
The growing adoption of alternative fuel and electric vehicles to address the increasing threats of climate change and emission of greenhouse gases is expected to drive the growth of the robotic refueling system market during the forecast period.Robotic refueling systems with payload-carrying capacity of up to 50 kg to dominate market in 2019Growing demand for electric/hybrid vehicles and cost-effective centralized refueling stations for mining vehicles worldwide is the key factor driving the growth of the market for robotic refueling systems with the payload-carrying capacity of up to 50 kg.
The presence of major robotic refueling system manufacturers such as Fuelmatics AB (Sweden) and Rotec Engineering (Netherlands), harsh climatic conditions, and an extensive industrial base make Europe a dynamic region for the robotic refueling system market.Scott Technology Ltd. (New Zealand), Fuelmatics AB (Sweden), Rotec Engineering B.V (Netherlands), Neste Oyj (Finland), Shaw development LLC (Shaw Development (US)), PLUG POWER Inc. (Power and Plug (US)), Aerobotix (US), Airbus S.A.S(Netherlands), The Boeing Company (Boeing (US)), ABB Group (Switzerland), KUKA (Germany), Simon Group Holding (US), FANUC Corporation (JAPAN), AUTOFUEL AB (Sweden), TATSUNO Corporation (Japan), CZECH INNOVATION GROUP (Czech Republic), Mine Energy Group Pty Ltd. (Australia), Husky Corporation (US), GAZPROMNEFT-AERO (Russia), and Green Fueling Inc. (US) are a few of the major companies dominating the robotic refueling system market.
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In-depth study of the Robotic Refueling System Industry that helps to provide answers and relevant questions regarding the Emerging trends and Growth opportunities.
It helps identify each of the major growth barriers aside from identifying the trends in the Robotic Refueling System market.The Robotic Refueling System Market report offers an in-depth analysis of the Global Market and several important aspects related to it.
This helps researchers in the study of the market’s performance so far and predicting the further performance for the forecasted period.
Various major market aspects such as demand and supply, revenue growth patterns market shares, and market trends are analyzed thoroughly while the drafting of this Robotic Refueling System report.Get Access to Report Sample: https://straitsresearch.com/report/robotic-refueling-system-market/request-sampleMajor Key players covered in this report:PLUG POWER Inc. (Power and Plug (the U.S.)), Aerobotix (the U.S.), Airbus S.A.S(Netherlands), The Boeing Company (Boeing (the U.S.)), ABB Group (Switzerland), KUKA (Germany), Simon Group Holding (the U.S.), FANUC Corporation (JAPAN), AUTOFUEL AB (Sweden), Scott Technology (Scott Technology Ltd(New Zealand)), Fuelmatics AB (Sweden), Rotec Engineering B.V (Netherlands), NesteOyj (Finland), Shaw development LLC (Shaw Development (the U.S.), Husky Corporation (the U.S.), GAZPROMNEFT-AERO (Russia) and Green Fueling Inc. (the U.S.), TATSUNO Corporation (Japan), CZECH INNOVATION GROUP (Czech Republic), and Mine Energy Group Pty Ltd. (Australia) By Fuel Pumped, , Gasoline, Natural Gas, Petrochemicals, By Payload Carrying Capacity, , Up to 50 kg, 01–100.00 kg, 01–150.00 kg, By Vertical, , Mining, Automobile, Oil and Gas, Aerospace, Military and Defense, Warehouse and Logistics, Marine and Shipping, Construction, OthersThe report has been prepared after studying the different parameters ruling the Robotic Refueling System Market and the forecast period has been estimated from 2021-2029.
This part of the report has been studied keeping in mind the political, economic, social, technological, geographical, and cultural scenario of the Robotic Refueling System Market.
These factors can be projected to have their individual effects on the market, or they can have interconnected impacts.
