(IT-NEWSWIRE.COM, August 13, 2019 ) 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.Growing 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. One of the major restraints for the growth of the market is the legal and safety regulations. Increasing adoption of autonomous technology is the key opportunity for the growth of the robotic refueling system market. A major challenge faced by the key players in the market is the replacement of manual caps with automated fuel caps.
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Market for robotic refueling systems pumping gasoline is expected to hold largest share in 2019
The market for robotic refueling systems used for pumping gasoline is expected to hold the largest share in 2019. The growing adoption of autonomous haulage trucks in the mining vertical, where gasoline is used as a primary fuel is expected to drive the market for robotic refueling systems during the forecast period
Market for robotic refueling systems with payload-carrying capacity of 100–150 kg to grow at highest CAGR during forecast period
Verticals such as mining, automotive, aerospace, military & defense, and warehouse & logistics require robotic refueling systems with a wide range of payload capacity depending upon the type of fuel being pumped and the application of these systems in each region. The growing demand for automation, electric/hybrid vehicles and the increasing adoption of cost-effective onsite refueling stations for mining haulage trucks worldwide are the key factors driving the growth of the market for robotic refueling systems with the payload-carrying capacity of 100–150 Kg.
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Europe to hold a major share of robotic refueling system market in 2019
Europe is expected to account for the largest share of the robotic refueling system market during the forecast period. 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.
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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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