Robotic Fueling Market To Reach USD 2,981.9 Million By 2032

(MENAFN- GlobeNewsWire - Nasdaq) Fort Collins, Colorado, Nov. 01, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the Robotic Fueling Market size was valued at USD 76.2 Million in 2022 and is expected to have a market size of USD 2,981.9 Million by 2032 at a CAGR of 44.4%.

Robotic refueling is a technology that uses robots to fill fuel tanks without human intervention. It applies to various sectors like defense, mining, and aviation, using computer vision and detection to move the nozzle to the fuel tank. The market is growing due to the need for process efficiency and enhanced convenience in mining, aviation, and other industries.

Robotic refueling systems increase safety by reducing human exposure to hazardous fueling operations, improving efficiency, and reducing downtime. The shortage of skilled labor in logistics, transportation, and mining industries is driving companies to adopt automation, including robotic refueling, for increased productivity. This has led to a rise in the adoption of robotic refueling.

The integration of automation systems is expanding the market. Automation increases productivity, improves cost efficiency, and streamlines workflow. Robotic refueling decreases refueling time, serving more consumers and increasing fuel station revenue, promoting market growth.

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Segmentation Overview:

The global robotic fueling market has been segmented into fuel, payload capacity, end-user industry, and region. Increased production in the Permian Basin and Offshore Gulf of Mexico regions, along with expansion of distillation capacity, led to a rise in U.S. crude oil distillation capacity from 17.9 to 18.1 million barrels/day in 2023. In 2022, the mining segment had the largest market share. Robotic fueling systems are essential in this industry for refueling heavy machinery in harsh environments. They improve fueling efficiency and reduce wastage.

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Robotic Fueling Market Report Highlights:

• The global robotic fueling market growth is anticipated at a CAGR of 44.4% by 2032.

• The robotic fueling systems market is expected to grow during the forecast period due to the increased adoption of independent transport trucks in the mining industry that use gasoline as the main fuel. The market growth is also driven by factors such as the demand for electric/hybrid cars, automation, and cost-effective on-site refueling stations being implemented for mining haulage trucks.

• North America is expected to exhibit positive growth in robotic refueling technology during the forecast period. The growing application of this technology in sectors such as aerospace, military, and defense, along with the presence of key automation companies in the region, is leading to increased investment in the market.

• Some prominent players in the robotic fueling market report include Scott Technology, Fuelmatics AB, Rotec Engineering B.V., Neste Oyj, Shaw Development LLC, Plug Power Inc., Aerobotix, Airbus S.A.S, The Boeing Company, ABB Group, KUKA, Simon Group Holdings, FANUC Corporation, and Husky Corporation among others.

Industry Trends and Insights:

• GROPYUS and KUKA collaborate to make the Richen site a highly automated and fully integrated manufacturing facility.

• Boeing and Ferra Engineering have agreed to extend the production of wing kits for the Joint Direct Attack Munition Extended Range and to explore potential applications for Powered JDAM.

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Robotic Fueling Market Segmentation:

• By Fuel: Gasoline, Natural Gas, Petrochemicals and Others

• By Payload Capacity: Below 50 kg, 50-100 kg, and 100-150 kg

• By End-user Industry: Mining, Automobile, Oil & Gas, Aerospace, Military & Defense, Warehouse & Logistics, Marine & Shipping, Construction, and Others

• By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.

About DataHorizzon Research:

DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR's comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

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