Press release
Robotic Refueling System Market Size Forecasted To Achieve $3.34 Billion By 2029 With Steady Growth
Robotic Refueling System Market Size
What Is the Robotic Refueling System Market Size and Projected Growth Rate?
In the last few years, the market size of the robotic refueling system has experienced a significant surge. This market is projected to escalate from $0.41 billion in 2024 to $0.63 billion in 2025, with a compound annual growth rate (CAGR) of 52.3%. Factors stimulating growth during the historic period include an increased demand for robotics, rising automation requirements, heightened safety concerns, the necessity for efficient fuel dispensation, and an expansion of service centers by providers of robotic refueling systems.
In the coming years, the market for robotic refueling systems is projected to experience significant expansion. The market is expected to inflate to a value of $3.34 billion in 2029, with a compound annual growth rate (CAGR) of 52.0%. The increase during the predicted period can be traced back to factors like increased oil and gas production, heightened need for improved safety measures, growing demand for low-cost operations in the mining industry, and the surge in the use of autonomous haulage trucks. Furthermore, an acceleration in industrialization and globalization also play a part. Key trends for the forecast period encompass the adoption of autonomous technologies, product advancements, an uptick in strategic partnerships, and technological progression. There's also the integration of fresh ideas and alterations in pre-existing products by companies that manufacture robotic systems.
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What Are the Major Segments in the Robotic Refueling System Market?
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
Subsegments:
1) By Hardware: Robotic Arms, Fuel Dispensing Units, Sensors And Cameras, Control Systems, Connectors And Valves, Power Supply Units, Structural Components
2) By Software: Control Software, Navigation And Mapping Software, Safety And Monitoring Software, Data Analytics And Reporting Software, Integration Software
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What Are The Driving Robotic Refueling System Market Evolution?
The growth of the robotic refueling system market is forecasted to be fuelled by an uptick in oil and gas production. Hydrocarbons, which are naturally found in the earth's crust rocks, constitute oil and gas. Technological advancements, market developments, geopolitical influences, and regulatory standards that help shape the worldwide energy scenario are crucial factors driving the surge in oil and gas production. Robotic refueling systems contribute to decreasing downtime and expediting the refueling process, thereby boosting total productivity in oil and gas production. For example, the Energy Information Administration (EIA), a key agency of the U.S. Federal Statistical System, reported that in 2023, the U.S.'s daily crude oil output averaged 12.4 million barrels, and it is projected to climb to 12.8 million barrels daily in 2024. Hence, the uptick in oil and gas production is propelling the robotic refueling system market's growth.
Which Firms Dominate The Robotic Refueling System Market Segments?
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
What Trends Are Driving Growth in The Robotic Refueling System Market?
Major companies in the robotic refueling system industry are focusing on the innovation of autonomous refueling systems like RAPID to provide advanced services to their clients. RAPID is a self-governing refueling system that allows vehicles and aircraft to refill their fuel without human aid. For instance, Stratom Inc., a manufacturer of autonomous robotic systems located in the US, unveiled RAPID, which caters to refueling, recharging, and liquid transfers in potentially difficult environments in August 2022. RAPID is built to accommodate both autonomous and manually operated situations. It facilitates remote handling from a safe distance and negates the need for vehicle drivers to leave their vehicles during refueling, thereby enhancing overall efficiency and safety.
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Which Is The Largest Region In The Robotic Refueling System Market?
North America was the largest region in the robotic refueling system market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Robotic Refueling System Market?
2. What is the CAGR expected in the Robotic Refueling System Market?
3. What Are the Key Innovations Transforming the Robotic Refueling System Industry?
4. Which Region Is Leading the Robotic Refueling System Market?
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