Robotic Refueling System Market Size to Gain $194 Mn, Globally, by 2027 | Growth by AI driven Autonomous Vehicles – Comprehensive Study by The Insight Partners
The global robotic refueling system market growth is impelled by safety concerns relating to refuelling of vehicles in construction industry, low cost of operation & flexibility of dispensing different fuels and adoption of automation in marine application.
New York, Nov. 22, 2022 (GLOBE NEWSWIRE) — According to the latest research study published by The Insight Partners, titled “Robotic Refueling System Market Share, Size, and Growth Forecasts to 2027 – Global Analysis and Forecasts by Component (Hardware, Software); Fuel (Gaseous Fuel, Gasoline, Diesel, Others); Industry Vertical (Aerospace and Defense, Automotive, Construction, Oil and Gas, Mining, Others)”, the global robotic refueling system market size is registering a CAGR of 39.1% during the forecast period 2019-2027 which is expected to reach USD 194 Million in 2027.
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Global Robotic Refueling System Market Report Scope:
|Market Size Value in||USD 10.2 Million in 2018|
|Market Size Value by||USD 194.0 Million by 2027|
|Growth rate||CAGR of 39.1% from 2019-2027|
|No. of Pages||177|
|No. of Tables||79|
|No. of Charts & Figures||83|
|Historical data available||Yes|
|Segments covered||Component ; Fuel ; Industry Vertical|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
Global Robotic Refueling System Market: Competitive Landscape and Key Developments
Scott, Fuelmatics, Neste, Rotec Engineering, and Gazprom Neft. are among the top leading players profiled in the robotic refueling system market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their growth. A few developments under robotic refueling system market are mentioned below:
In 2018: Fuelmatics received an order for two Fuelmatics 5000 units from a US-based oil company, which have massive fuel station in various states of US. The systems would be installed for public use in a station near JFK airport.
In 2018: Gazprom Neft unveiled its robotized aviation refueling complex for airfield tankers at Sheremetyevo Airport. The robotic arm is being tested before the rollout at airport refueling complexes.
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The robotic refueling system market growth in North America is mainly driven by availability of efficient infrastructure in the developed nations, technological advancements and others. The rise in production of shale gas is significantly driving the scope of robotic refueling system market in the region. The US and Canada are witnessing exceptional growth in the production of shale reserves, fossil fuel, oil sands, and tight oil. Strong reserve of oil & gas is anticipated to offer tremendous opportunities to both manufacturers and providers of robotics refueling systems. Moreover, the US army is also taking the initiative for a robotic refueling system to lower human interventions from the fueling stations.
In July 2017: The Center’s Aviation Development Directorate and Operational Energy Lab of the US demonstrated a new unmanned station called as, Autonomous & Robotic Remote Refueling Point or AR3P. All these mentioned factors were contributing to the robotic refueling system market growth in North America region.
Robotic Refueling System Market: Industry Overview
The robotic refueling system market has been segmented on the basis of component, fuel, industry vertical and geography. Based on component, the robotic refueling system market is bifurcated into hardware and software. In terms of fuel, the robotic refueling system market is bifurcated into gaseous fuel, gasoline, diesel and others. Based on industry vertical, the robotic refueling system market is segmented into aerospace and defense, automotive, construction, oil and gas, mining, others. Based on geography, the robotic refueling system market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
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Safety Concerns Relating to Refueling of Vehicles in Construction Industry to Provide Lucrative Opportunities for Global Robotic Refueling System Growth During (2019-2027):
A robotic fueling system has the advantage of preventing human contact with potentially dangerous fumes, avoiding driver’s exposure to extreme hot or cold temperatures during fueling, and reducing the labor costs associated with full service fueling stations. A robotic fueling system consists of five main subsystems: control system which include user interface, processor, and logic schema; sensor system for vehicle positioning and identification, robotic arm, fuel dispensing nozzle, and the fuel port interface. Automated/robotic fueling systems can eliminate operation personnel’s exposure to flammable liquid and repetitive strain injuries. As this system helps in reducing interactions between vehicles and personnel, risks such as tire burst exposure, falling objects, and collision with other vehicles can be averted. Additionally, in the construction industry, refueling cars, trucks, machinery, or other vehicles is a common activity, but it can be an awfully hazardous job if done imperfectly. Not just improper fueling can cause fires, burns, or explosions, but the diesel or petrol itself is also a hazardous material with the potential for spills and leaks. Thus, safety concerns relating to refueling of vehicles in construction industry may enhance robotic refueling systems adoption and will provide lucrative opportunities for robotic refueling system market growth during forecast period
Global Robotic Refueling System Market in Europe to witness Impressive Growth during (2019–2027):
The European region comprises several major industries such as oil & gas, automotive, aerospace, and others. The region experiences the presence of varied automotive manufacturing and assembly plants. Europe is forecasted to have a high penetration of both L3 and L4 driverless cars by 2023. The rise in the emergence of the autonomous vehicle is expected to boost the scope of robotic refueling system as it will limit the human intervention and would ease the process of refueling at the petrol stations. Moreover, Europe is projected to reinvent the oil & gas industry by deploying advanced technologies on offshore in the North Sea. Due to recovery in oil prices, the oil & gas industry experiences huge growth opportunities and has boosted companies’ profit margin. All the mentioned factors plays a major role in boosting the business activities of the robotic refueling system market in the European region.
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