The North America robotic refueling system market accounted for US$ 3.67 Mn in 2018 and is expected to grow at a CAGR of 43.7% over the forecast period 2019–2027, to account for US$ 94.73 Mn in 2027.
The flexibility of supplying different fuels is one of the catalysts for growth of the market. In addition, the Increase in usage of robotic refueling systems mining industry is propelling the growth of robotic refueling system market. Moreover, the safety concerns associated with respect to refueling of vehicles in construction market and rising demand for automation in marine industry are expected to boost the robotic refueling system market during the forecast period. The main focus of robotic fuelling is to explore improvements over existing systems (manual) mainly by cost reduction (personnel cost) through automation. Simplification in robotic fueling can be achieved by the redesign of the vehicle positioning and fuel dispensing systems. The latest refueling systems use a laser scanner to determine the vehicle position as opposed to expensive video imaging equipment used by previous designs. Fuel dispensing can be improved by a nozzle redesign and less complicated mating process of the fuel nozzle and the fuel port, which reduced the number of autonomous tasks that needed to be performed by the robotic arm. No requirement for operators on-site to man fuel stations and refuel vehicles is considered to the major driving factor for the robotic fueling systems remarkable growth rate during the forecast period from 2019 – 2027.
The robotic refueling system market is fragmented in nature due to the presence of several industries, and the competitive dynamics in the market is anticipated to change during the coming years. In addition to this, various initiatives are undertaken by governmental bodies to accelerate the robotic refueling system market further. The National Outer Continental Shelf (OCS) Oil & Gas Leasing Program of the U.S. government is focused on technically recover oil & gas resources especially in federal offshore zones accessible for future development and exploration. With this initiation the OCS is opening for almost all the potential oil & gas exploration, the United States continue its focus towards energy independence for achieving energy dominance in the country. This program fetches a unique access to America’s widespread offshore oil & gas resources as well as permit the user to compete efficiently with other oil-rich nation. With several technological advancements proposed in the oil & gas sector, the robotic refueling system for this sector in North American region is anticipated to grow.
The robotic refueling system market on the basis of component is segmented into hardware and software. The hardware segment led the robotic refueling system market in 2018 and is expected to continue its dominance during the forecast period. The hardware segment include various sensors and systems such as vehicle positioning system, control system, robotic arm, fuel dispensing system and sensors such as position sensors and proximity. Hardware segment consists of more components which are much higher in price than the software segment. Thus, hardware held the largest market share in terms of revenue. Hardware also needs replacing in the event of damage or faulty operation, however, a software can be tweaked without incurring much cost.
The overall robotic refueling system market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the robotic refueling system market. It also provides an overview and forecast for the robotic refueling system market based on all the segmentation provided with respect to the North American region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the robotic refueling system market. Some of the players present in robotic refueling system market are ABB Ltd., Fanuc Corporation, Fuelmatics AB, Gazprom Neft PJSC, Kuka AG, Neste, Rotec Engineering, Scott Technology Limited, Shaw Development LLC, and Yaskawa Electric Corporation among others.