DUBLIN--(BUSINESS WIRE)--The "North America Robotic Refueling System Market to 2027 - Regional Analysis and Forecasts by Component; Fuel; Industry Vertical" report has been added to ResearchAndMarkets.com's offering.
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 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 continues 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.
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.
Reasons to Buy
- Save and reduce time carrying out entry level research by identifying the growth, size, leading players and segments in the North America robotic refueling system market
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- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Key Topics Covered
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 North America Robotic Refueling System market - By Component
1.3.2 North America Robotic Refueling System Market - By Fuel
1.3.3 North America Robotic Refueling System Market - By Industry Vertical
1.3.4 North America Robotic Refueling System market - By Country
2. Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Robotic Refueling System Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America - PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Robotic Refueling System Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Flexibility of Supplying Different Fuels is One of the Catalysts for Growth of the Market
5.1.2 Increase in Usage of Robotic Refueling Systems Mining Industry
5.2 Market Restraints
5.2.1 Privacy and Security Issues Associated With the Robotic Fueling Systems
5.3.1 Safety Concerns Associated With Respect to Refueling of Vehicles in Construction Market
5.3.2 Rising Demand for Automation in Marine Industry
5.4 Future Trends
5.4.1 Integration of AI in Autonomous Vehicles
5.5 Impact Analysis
6. Robotic Refueling System Market - North America Analysis
6.2 North America Robotic Refueling System Market Revenue And Forecasts To 2027 (US$ Mn)
7. North America Robotic Refueling System Market Analysis - By Component
7.2 North America Robotic Refueling System Market Breakdown, By Component, 2018 & 2027
8. North America Robotic Refueling System Market Analysis - By Fuel
8.2 North America Robotic Refuelling System Market Breakdown, By Fuel, 2018 & 2027
8.3 Gaseous Fuel
9. North America Robotic Refueling System Market Analysis - By Industry Vertical
9.2 North America Robotic Refueling System Market Breakdown, By Industry Vertical, 2018 & 2027
9.3 Aerospace and Defence
9.6 Oil & Gas
10. North America Robotic Refueling System Market - Country Analysis
11. Industry Landscape
11.2 Market Initiatives
11.3 New Developments
12. Company Profiles
12.1 ABB Ltd.
12.2 Fanuc Corporation
12.3 Fuelmatics AB
12.4 Gazprom Neft PJSC
12.5 Kuka AG
12.7 Rotec Engineering
12.8 Scott Technology Limited
12.9 Shaw Development LLC
12.10 Yaskawa Electric Corporation
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