Robotic Refueling System Market Size Set to Achieve USD 2,263.2 Million by 2030
Acumen Research and Consulting recently published report titled “Robotic Refueling System Market Report and Region Forecast, 2022 – 2030”
TOKYO, Jan. 08, 2023 (GLOBE NEWSWIRE) — The Global Robotic Refueling System Market Size was valued at USD 65.3 Million in 2021 and is projected to occupy a market size of USD 2,263.2 Million by 2030 growing at a CAGR of 48.5% from 2022 to 2030
Robotic technology adoption 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 propelling robots into nearly every aspect of daily life. In 2022 and beyond, trust in technology, cost effectiveness, and evidence generation will all accelerate the robotic revolution.
Robotic Refueling System Market Statistics
- Global robotic refueling system market revenue gathered USD 65.3 Million in 2021, with a 48.5% CAGR between 2022 and 2030
- Europe robotic refueling system market share gathered over 35% in 2021
- Asia-Pacific robotic refueling system market growth is projected to attain over 49% CAGR from 2022 to 2030
- By component, the hardware sub-segment seized USD 39.8 million in market revenue in 2021
- Based on fuel pumped, the gasoline sub-segment acquires over 58% of shares in 2021
- Rising number of aviation projects is a key trend in the robotic refueling system industry that fuels the demand
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Robotic Refueling System Market Report Coverage:
|Market||Robotic Refueling System Market|
|Robotic Refueling System Market Size 2021||USD 65.3 Million|
|Robotic Refueling System Market Forecast 2030||USD 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 Middle East & 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 Profiling, Regulation Analysis|
Robotic Refueling System Market Dynamics
Investment in R&D, rising demand in emerging markets, and increased use of drones are some of the factors propelling the robotic refueling system market. Companies in the robotic refueling systems market are investing in R&D to improve their systems’ capabilities and efficiency. As emerging markets such as Asia-Pacific and Latin America look to improve their fuel-handling infrastructure, demand for robotic refueling systems is increasing. Drones are also increasingly being used for refueling operations, particularly in the aviation industry.
Growing Adoption of Robotic Refueling in Aviation Sector Propels the Industry Growth
The aviation industry consumes a lot of fuel, and using 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 the industry’s growing demand for automation, are 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. Furthermore, robotic refueling systems for the aviation sector may 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 split into component, fuel pumped, payload carrying capacity, end-user industry, and region.
The component segment is bifurcated into hardware and software. Based on the fuel pumped, the market is split into gasoline, natural gas, petrochemicals, and others. Based on payload carrying capacity, the segmentation covers up to 50 kg, 50 – 100 kg, and 100 – 150 kg. By end-user industry, the segmentation includes Automotive, aerospace, construction, marine and shipping, mining, military and defense, oil and gas, warehouse and logistics, and others Furthermore, 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 robotic refueling system industry research, 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 forecasted timeframe. The software sub-segment, on the other hand, is expected to grow at the fastest rate during the forecast timeframe of 2022 to 2030.
According to our market forecast for robotic refueling systems, the gasoline sub-segment achieved a significant market share from 2022 to 2030. Petrochemicals, on the other hand, are expected to grow at a rapid pace in the coming years.
In terms of payload carrying capacity, 100-150 kg will see significant market growth in the coming years. Furthermore, aerospace 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.
Robotic Refueling System Market Regional Outlook
Among all the regions, Europe conquered the robotic refueling system market with a noteworthy share in 2021. The European robotic refueling systems market is likely to be supported by the region’s increasing demand for automation, as well as the adoption of stringent safety and environmental regulations.
North America collected the second-highest revenue in the global scenario. The North American market for robotic refueling systems is likely to be driven by the region’s strong adoption of automation technologies, 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 witness quick growth from 2022 to 2030. The Asia-Pacific market for robotic refueling systems is likely to be driven by rising automation demand 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 robotic refueling system companies covered 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 Robotic Refueling System Market in 2021?
- What will be the CAGR of Robotic Refueling System Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Robotic Refueling System Market?
- Which region held the largest share in Robotic Refueling System Market in 2021?
- What are the key market drivers of Robotic Refueling System Market?
- Who is the largest end user Robotic Refueling System Market?
- What will be the Robotic Refueling System Market value in 2030?
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