CHICAGO, July 18, 2019 /PRNewswire/ -- 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", published by MarketsandMarketstm, 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. The increasing adoption of autonomous technology is the key opportunity for the growth of the robotic refueling system market.
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Market for other types of fuel pumped to grow at highest CAGR during forecast period
The 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 2019
Growing 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 increasing production and sales of electric/hybrid vehicles in the light of supporting government regulations and lowering manufacturing costs is expected to open new avenues for the further development of robotic refueling systems with a payload capacity of up to 50 kg.
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.
Browse in-depth TOC on "Robotic Refueling System Market"
62 - Tables
41 - Figures
125 - Pages
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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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