Europe Robotic Refueling System Market to 2027 - Regional Analysis and Forecasts by Component (Hardware, Software); Fuel (Gaseous Fuel, Gasoline, Diesel, Others); Industry Vertical (Aerospace and Defense, Automotive, Construction, Oil and Gas, Mining, Others)
The Europe robotic refueling system market accounted for US$ 3.92 Mn in 2018 and is expected to grow at a CAGR of 37.7% over the forecast period 2019–2027, to account for US$ 70.68 Mn in 2027. The reduced operational cost through automation and significant market growth from the mining industry are boosting the robotic refueling system market growth. Moreover, the increasing demand for safety requirements for refueling of vehicles in the construction industry is expected to boost the robotic refueling system market. Usually, refueling facilities are managed by at least one person at all times and in mining, trucks can spend up to an hour per day traveling to refuel in isolated areas away from the pit. Automated refueling or robotic refueling can save considerable time as there is no staffing required for an automatic/robotic solution; thus, refueling stations are able to be placed in-pit or on the circuit so fleet productivity can be significantly enhanced. Simultaneously, mining companies are also considering to overcome microeconomic factors related to safety, security, and hazardous mining conditions to ensure the health of their workforce. The usage of robotic fueling systems the mining industry is currently aligned towards safeguarding human safety in hazardous and risky operations. Cost optimization is another area that is explored with the help of robotics in mining. Some of the significant benefits that can be derived by the use of robotic refueling systems are increased operator safety, minimized spillage and environmental contamination, no diversion of trucks from the circuits and the ability to refuel without the help of a local operator. This factor triggers the growth of the robotic refueling system market.
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. EU Industrial policy is aimed to stimulate the competitiveness and growth of the manufacturing sector in Europe. Under this, the government takes various initiatives related to trade, energy, and innovation. This is further anticipated to provide support to manufacturers in the region to adopt advanced technologies in their production. Further, the European Commission has established Public-Private Partnership Factories of the Future. The PPP is a 1.2 Bn Euros program initiated with an aim to support the development and innovation of new empowering technologies for the manufacturing sector of EU. The initiative is facilitating EU manufacturing enterprises, particularly SMEs, to adapt to global competitive pressures by enhancing the technological base of EU manufacturing systems.
The robotic refueling system market on the basis of fuel is segmented into gaseous fuel, gasoline, diesel, and others. The gasoline segment led the robotic refueling system market in 2018 and is expected to continue its dominance during the forecast period. Fossil fuels such as gasoline, diesel, natural gasses, and biodiesel have been the driving force of many types of machinery and vehicle for over decades now. Majority of vehicles running on the road are running mostly on gasoline owing to their less emission of exhaust gasses as compared to diesel. However, natural gas such as Compressed Natural gas (CNG) and Liquefied Natural Gas (LNG) are much cleaner than gasoline, but their availability and the vehicle’s performance differs negates their glorified usage. The rise in the number of vehicles around the world has significantly increased vehicular emissions, especially in towns and cities.
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 European 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.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook