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The Global
Robotic Refueling System Market held a market size of $26 million in 2019 and is anticipated to grow at a
CAGR of 51.1% from 2019 to 2026, according to Esticast Research.
Europe is expected to be the leading region in the global robotic refueling system market. The market growth is attributed to the booming oil & gas industry and strong penetration of market players such as Rotec Engineering, KUKA, and Fuelmatics AB. The growing automation in the mining sector in countries like Germany is contributing to the market growth in the region.
OVERVIEW
Robotic refueling system is currently aiding various industries which include road, rail, mining, aviation, excavator replenishment, and drilling. This system does not require a local operator, and supervision is done from the remote operations center. The robotic refueling process is precise and essentially error-free, which saves the risk of manual mistakes. In addition, this system aid in increasing productivity due to its overall faster operation, enhanced fuel turnaround time which facilitates an additional cycle per shift, and increases the use of the truck fleet. The growing trend of automation across various industry verticals is offering a favorable environment for the market. In addition, the increasing need for low-cost operation in the mining sector and the growing requirement of enhanced safety & security during the dispensation of fuel is boosting the market growth. Further, the increasing demand for electric vehicles and alternative fuel in developed nations is expected to support market growth.
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