Press release
Soaring Demand Set to Propel Robotic Refueling System Market to $3.34 Billion by 2029
Robotic Refueling System
What Is the Expected CAGR for the Robotic Refueling System Market Through 2025?
In recent times, the market size for robotic refueling systems has seen a rapid expansion. The market is projected to attribute significant growth from $0.41 billion in 2024, reaching $0.63 billion in 2025 at a compound annual growth rate (CAGR) of 52.3%. The historical growth can be associated with factors such as an upsurge in the demand for robotics, an increasing need for automation, heightened safety requirements, efficiency in fuel dispensing, and the rise in service centers by providers of robotic refueling systems.
What's the Projected Size of the Global Robotic Refueling System Market by 2029?
Predictions indicate that in the approaching years, the robotic refueling system market will experience a significant expansion. By 2029, the market size is anticipated to extend to $3.34 billion, with 52.0% compound annual growth rate (CAGR). The expected growth during the predicted period can be due to an increase in oil and gas production, enhanced security needs, heightened demand for cost-effective mining operations, adoption of autonomous haulage trucks, and a rapid increase in industrialization and globalization. Looking forward, trends to be seen in the forecast period range from the use of autonomous technology, innovative product development, a growing number of strategic partnerships, technological advancements, up to product improvements and enhancements being integrated by robotic manufacturers.
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Top Growth Drivers in the Robotic Refueling System Industry: What's Accelerating the Market?
The growth of the robotic refueling system market is predicted to be driven by the rising production of oil and gas. Oil and gas, which are naturally found in the earth's crust, are hydrocarbons. This surge in oil and gas production can be attributed to factors such as technological advancements, market dynamics, international politics, and regulations that govern the global energy scenario. Robotic refueling systems are advantageous as they decrease downtime by simplifying the refueling process, thereby boosting the overall productivity in oil and gas production. The Energy Information Administration (EIA), a leading agency of the U.S. Federal Statistical System, reported that the United States produced an average of 12.4 million barrels per day (b/d) of crude oil in 2023 and this number is expected to rise to 12.8 million b/d in 2024. As a result, the increased production of oil and gas is contributing to the expansion of the robotic refueling system market.
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What Trends Will Shape the Robotic Refueling System Market Through 2029 and Beyond?
Top corporations in the robotic refueling system market, like Stratom Inc., are focusing on the production of autonomous refueling systems, such as RAPID, to provide their customers with superior technology. The RAPID system is a self-operating solution that allows vehicles and aircraft to fuel up without any human intervention. In August 2022, the US-based company Stratom Inc., known for their expertise in manufacturing autonomous robotic systems, introduced RAPID. This autonomous system is specifically designed to handle refueling, recharging, and liquid transfer even in the toughest conditions. RAPID can be utilized in both autonomous and human-driven situations. It facilitates remote operation from a secure distance, eradicating the need for operators to leave their vehicles during refueling procedures, thereby amplifying efficiency and safety.
What Are the Main 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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Which Top Companies are Driving Growth in the Robotic Refueling System Market?
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
Which Regions Will Dominate the Robotic Refueling System Market Through 2029?
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.
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