Automated Refueling System Market Size to Earn $194 Million Globally by 2027

Automated Refueling System Market Size to Earn $194 Million Globally by 2027

Insight Partners

The growth of the global Automated Fueling System market is driven by safety concerns related to vehicle refueling in the construction industry, lower operating cost and flexibility in dispensing different fuels and adoption of automation in marine applications.

NEW YORK, Nov. 22, 2022 (GLOBE NEWSWIRE) — According to the latest research study published by The Insight Partners titled “Market of refueling robots Engagement, Volume and Growth Forecasts to 2027 – Global Analysis and Forecasts by Components (Hardware, Software); fuel (gas fuel, gasoline, diesel, etc.); two industry verticals (Aerospace & Defense, Automotive, Construction, Oil & Gas, Mining, etc.)”, the global Robotic Refueling System market size is registering a CAGR of 39.1% over the forecast period 2019-2027 which is expected to reach USD 194 Million In the year 2027.

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Scope of the Global Robotic Refueling System Market Report:

Market size value

$10.2 Million US Dollars in 2018

Market size value by

$194.0 million by 2027

growth rate

A compound annual growth rate of 39.1% from 2019-2027

forecast period

2019-2027

base year

2019

number of pages

177

number of tables

79

Number of charts and shapes

83

Historical data available

yes

sectors covered

component ; fuel; vertical industry

regional scope

North America, Europe, Asia Pacific, Middle East, Africa, South and Central America

Country range

United States, Canada, Mexico, United Kingdom, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, United Arab Emirates, Saudi Arabia, South Africa, Brazil, Argentina

report coverage

Revenue forecasts, company ranking, competitive landscape, growth factors, and trends

Global Robotic Refueling System Market: Competitive Landscape and Key Developments

Scoot, Fuelmatics, Neste, Rotec Engineering, and Gazprom Neft. Among the leading players featured in the Automated Refueling System market report: Various other key players in the market have been analyzed for a comprehensive view of the market and its ecosystem. The report provides detailed market insights, which helps key players to strategize for their growth. Some of the developments under Automated Fueling System Market are mentioned below:

in 2018: Fuelmatics has received an order for two Fuelmatics 5000 units from a US-based oil company, which has a huge gas station in different states of the United States. The systems will be installed for public use at a terminal near JFK Airport.

in 2018: Gazprom Neft has unveiled its automated aircraft refueling complex for airfield tankers at Sheremetyevo Airport. The robotic arm is being tested before being rolled out to airport refueling complexes.

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The growth of the Automated Fueling System market in North America is mainly driven by the availability of efficient infrastructure in developed countries, technological advancement, and others. Rise in shale gas production is significantly driving the scope of the robotic refueling systems market in the region. The United States and Canada are experiencing exceptional growth in the production of oil shale reserves, fossil fuels, oil sands, and tight oil. The strong reserves of oil and gas are expected to provide huge opportunities for both manufacturers and providers of robotic refueling systems. Moreover, the US Army is also taking the initiative to create an automated refueling system to reduce human intervention from refueling stations.

in July 2017The Center’s Aeronautical Development Directorate and Operational Power Plant showcased a new unmanned station called the Autonomous and Robotic Remote Refueling Point, or AR3P. All these aforementioned factors have been contributing to the growth of the Automated Fueling System market in North America region.

Refueling Robots Market: Industry Overview

The Automated Refueling System market has been segmented on the basis of components, fuels, industry vertical, and geography. On the basis of components, the Automated Refueling System market is segmented into hardware and software. In terms of fuel, the Automated Refueling System market is segmented into gaseous fuels, gasoline, diesel, and others. Based on industry segment, the Automated Refueling Systems market is segmented into Aerospace, Defense, Automotive, Construction, Oil & Gas, Mining, and others. Based on geography, the Automated Fueling System market is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM).

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Safety Concerns Related to Vehicle Refueling in Construction Industry to Provide Lucrative Opportunities for Global Robotic Refueling System Growth During (2019-2027):

An automated fueling system has the advantage of preventing human contact with potentially hazardous vapors, avoiding exposure of the driver to extremely cold or very hot temperatures while refueling, and reducing labor costs associated with full-service refueling stations. An automated fuel system consists of five major subsystems: the control system that includes the user interface, processor, and logic diagram; Vehicle positioning and identification sensor system, robotic arm, fuel dispenser nozzle and fuel port interface. Automatic/automated fueling systems can eliminate operating personnel exposure to flammable liquid and repetitive strain injuries. Because this system helps reduce interactions between vehicles and personnel, hazards such as blown tires, falling objects, and collisions with other vehicles can be avoided. Additionally, in the construction industry, refueling cars, trucks, machinery, or other vehicles is a common activity, but it can be a very dangerous job if done imperfectly. Not only can improper fueling cause fires, burns or explosions, diesel or gasoline itself is also a hazardous substance with the potential for spills and leaks. Thus, safety concerns related to vehicle refueling in the construction industry may enhance the adoption of automated refueling systems and will provide lucrative opportunities for the growth of the automated refueling system market during the forecast period.

Global Robotic Refueling Systems Market in Europe to Witness Exponential Growth During (2019-2027):

The European region includes many major industries such as oil and gas, automobiles, aviation, and others. The region witnesses the presence of various factories for manufacturing and assembling cars. Europe is expected to see significant penetration of both L3 and L4 autonomous vehicles by 2023. The advent of the autonomous vehicle is expected to enhance the scope of the automated refueling system as it will reduce human intervention and ease the refueling process. Refuel at petrol stations. Moreover, Europe is expected to reinvent the oil and gas industry by deploying advanced offshore technologies in the North Sea. Due to the recovery in oil prices, the oil and gas industry is facing huge growth opportunities and has boosted companies’ profit margins. All of the aforementioned factors play a major role in enhancing the business activities of the automated fueling system market in the European region.

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