Robotic Refueling System Market Size Set To Reach USD
TOKYO, Jan. 8, 2023 (GLOBE NEWSWIRE) — The Global Robotic Refueling System Market The size was valued at $65.3 million in 2021 and is projected to occupy a market size of $2,263.2 million by 2030, growing at a CAGR of 48.5% between 2022 and 2030
The adoption of robotics technology by businesses and consumers skyrocketed early in the pandemic and is still accelerating. AI, machine learning (ML), the Internet of Things (IoT), and big data are driving robots into nearly every aspect of daily life. In 2022 and beyond, confidence in the technology, cost effectiveness, and evidence generation will accelerate the robotics revolution.
Robotic Refueling System Market Statistics
- Global robotic refueling system market revenue accumulated USD 65.3 million in 2021, with a CAGR of 48.5% between 2022 and 2030
- The market share of robotic refueling systems in Europe exceeded 35% in 2021
- Asia-Pacific robotic refueling system market growth is projected to reach over 49% CAGR from 2022 to 2030
- By component, the hardware sub-segment captured USD 39.8 million in market revenue in 2021
- According to the fuel pumped, the gasoline sub-segment acquires more than 58% of the shares in 2021
- The growing number of aviation projects is a key trend in the robotic refueling systems industry fueling demand
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Robotic Refueling System Market Report Coverage:
|Market||Robotic refueling system Market|
|Robotic Refueling System Market Size 2021||$65.3 million|
|Robotic Refueling System Market Forecast 2030||US$2,263.2 million|
|Robotic Refueling System Market CAGR During 2022 – 2030||48.5%|
|Robotic Refueling System Market Analysis period||2018 – 2030|
|Robotic Refueling System Market base year||2021|
|Robotic Refueling System Market forecast data||2022 – 2030|
|segments covered||By component, by fuel pumped, by payload carrying capacity, by end-user industry, and by geography|
|Robotic Refueling System Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa|
|Key companies profiled||ABB Group Ltd., Aerobotix, Boeing, FANUC Corporation, Fuelmatics AB, KUKA AG, Mine Energy Solution (MES), Neste, Rotec Engineering, Scott Technology Ltd, Simon Group Holding and TATSUNO Corporation.|
|Report Coverage||Market trends, drivers, restraints, competitive analysis, player profiles, regulation analysis|
Robotic Refueling System Market Dynamics
Investment in R&D, growing demand in emerging markets and increased use of drones are some of the factors driving the market for robotic refueling systems. Companies in the robotic refueling systems market are investing in R&D to improve the capabilities and efficiency of their systems. As emerging markets such as Asia-Pacific and Latin America seek to improve their fuel handling infrastructure, the demand for robotic refueling systems is increasing. Drones are also increasingly being used for refueling operations, particularly in the aviation industry.
Increasing adoption of robotic refueling in the aviation sector fuels industry growth
The aviation industry is very fuel intensive and the use of robotic refueling systems in this industry can help improve the efficiency and safety of fuel handling operations. The need to improve safety and efficiency in fuel handling operations, as well as increasing industry demand for automation, is likely to drive the adoption of robotic refueling systems in the aviation sector. Trends such as the increasing use of drones for refueling operations and the development of hybrid systems that combine the use of robots and human workers are also likely to have an impact on the market for these systems. In addition, robotic aviation refueling systems can include features such as advanced sensors and controls, advanced software, durable construction, and high-pressure fuel hoses and nozzles.
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Robotic Refueling System Market Segmentation
The global Robotic Refueling System industry has been divided into component, fuel pumped, payload capacity, end-user industry, and region.
The component segment is divided into hardware and software. Based on the fuel pumped, the market is divided into gasoline, natural gas, petrochemicals, and others. Based on payload capacity, segmentation covers up to 50kg, 50 – 100kg and 100 – 150kg. By end-user industry, segmentation includes Automotive, Aerospace, Construction, Marine & Shipping, Mining, Military & Defense, Oil & Gas, Warehousing & Logistics, and Other. Additionally, the region is divided into North America, Asia-Pacific, Europe, Latin America and the Middle East and Africa.
Robotic Refueling System Market Share
According to our research of the robotic refueling system industry, the hardware component type accounted for more than half of the total market share in 2021 and is expected to maintain its dominance over the forecast period. The software sub-segment, on the other hand, is expected to grow at the fastest rate during the predicted time period of 2022 to 2030.
According to our market forecast for robotic refueling systems, the gasoline sub-segment achieved a significant market share between 2022 and 2030. On the other hand, petrochemicals are expected to grow at a rapid pace in the coming years.
In terms of payload capacity, 100-150kg will experience significant growth in the market in the coming years. Furthermore, the aerospace industry is the highest revenue-generating end-user industry segment in 2021, while the mining sub-segment will grow at an impressive rate between 2022 and 2030.
Regional Robotic Refueling System Market Outlook
Among all regions, Europe conquered the robotic refueling system market with a notable share in 2021. The European robotic refueling system market is likely to be supported by the growing demand for automation from the region as well as well as the adoption of strict environmental and safety standards.
North America earned the second highest income on the global stage. The North American market for robotic refueling systems is likely to be driven by the strong adoption of automation technologies in the region, as well as the need to improve safety and efficiency in fuel handling operations.
On the other hand, the Asia-Pacific region is likely to experience rapid growth from 2022 to 2030. The Asia-Pacific market for robotic refueling systems is likely to be driven by increasing demand for automation in emerging economies. such as China and India, as well as the region’s need to improve fuel handling infrastructure.
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Robotic Refueling System Market Players
Some prominent covered robotic refueling system companies in the industry are ABB Group Ltd., Aerobotix, Boeing, FANUC Corporation, Fuelmatics AB, KUKA AG, Mine Energy Solution (MES), Neste, Rotec Engineering, Scott Technology Ltd, Simon Group Holding and TATSUNO Corporation.
Questions answered by this report
- What was the market size of the Robotic Refueling System Market in 2021?
- What will be the CAGR of the Robotic Refueling System market during the forecast period from 2022 to 2030?
- Who are the leading manufacturers in the global Robotic Refueling System Market?
- Which region held the highest share of the Robotic Refueling System market in 2021?
- What are the key drivers of the Robotic Recharging System market?
- Who is the largest end-user robotic refueling system market?
- What will be the market value of Robotic Refueling System in 2030?
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