Robotic Refueling System Market : Value Chain Analysis , Industry Trends and Technology 2030

 prashant v
  12th-Aug-2019
 4032

The robotic refueling system market is expected to grow from USD 25 million in 2019 to USD 2.2 billion by 2030, at a CAGR of 50.0% during forecast period. Growing requirement for low-cost operations in the mining vertical and the need for improved security and safety while fuel dispensation are the key factors driving the growth of the market. One of the major restraints for the growth of the market is the legal and safety regulations. The Increasing adoption of autonomous technology is the key opportunity for the growth of the robotic refueling system market. A major challenge faced by the key players in the market is the replacement of manual caps with automated fuel caps.

Gasoline accounted for the largest share of the robotic refueling system market, by fuel pumped. The rising adoption of autonomous haulage trucks in the mining vertical, where gasoline is used as a primary fuel is expected to drive the market for robotic refueling systems during the forecast period.

Verticals such as mining, automotive, aerospace, military & defense, and warehouse & logistics require robotic refueling systems with a wide range of payload capacity depending upon the type of fuel being pumped and the application of these systems in each region. The rising demand for automation, electric/hybrid vehicles, and cost-effective onsite refueling stations for mining haulage trucks worldwide is the key factor driving the growth of the market for robotic refueling systems with a payload-carrying capacity of 100–150 kg.

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Robotic refueling systems are required in the mining and automotive verticals for cost-effective refueling operations and provide safety while refueling. The mining vertical has been increasingly using autonomous systems for improving safety, time efficiency, and cost-effective operations. The adoption of robotic refueling systems in the mining vertical is expected to grow significantly during the forecast period

Europe is expected to account for the largest share of the robotic refueling system market during the forecast period. The presence of major robotic refueling system manufacturers such as Fuelmatics AB (Sweden) and Rotec Engineering (Netherlands), harsh climatic conditions, and an extensive industrial base are the major factors that make Europe a dynamic region for the robotic refueling system market. APAC held the second-largest share in 2018. The high rate of technological developments in the mining, automotive, and aerospace & defense industries is the key factor driving the growth of the market in APAC

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Domain: Electronics
Category: Semiconductors
Posted By: prashant v and Contact prashant v
SEMICONDUCTOR ANALYTICS

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