New York, June 07, 2023 (GLOBE NEWSWIRE) -- Robotic refueling will reach US$ 83.5 million in 2023 at a CAGR of 40.8% between 2023 and 2033. The robotic refueling system industry will benefit from the growing use of independent delivery trucks within the mining industry, which primarily uses gasoline.
Automated robotic refueling systems direct the nozzle into the truck's fuel tank with assistance from high-tech vision sensors and detection technology. The scheme greatly increases the flexibility, productivity, and safety of projects on the job. Robotic refueling is the process of refilling robotic arms by utilizing a robotic refueling system. Using state-of-the-art vision detection and sensing systems, robots can locate and orient fuel tanks with robotic refueling. In addition to eliminating the requirement for manual fuel tanks, it eliminates human risk as well.
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Recent years have seen a substantial increase in robotic refueling systems, owing to a number of factors, including increasing automation in industries, technological advances in robotics and artificial intelligence, and the need for safe and efficient refueling operations. The robotic refueling system is used during offshore replenishment to safely refuel unmanned surface vehicles (USVs). A methodology has been demonstrated for autonomously refueling Navy vessels in significant sea states by the Rapid Autonomous Fuel Transfer (RAFT) project.
Using robotic refueling robots in space, NASA demonstrated its robotic refueling mission (RRM) successfully. As well as the automotive industry, automated refueling technology could be used in the aviation sector to decrease inefficiency and decrease downtime. A robotic platform for a free-flying service satellite has been developed since 2009 that is capable of accessing, repairing, and refueling satellites in GEO. As part of the project, the team is also explored ways to provide satellite services from low Earth orbit, or LEO. As part of this campaign, RRM has developed technology.
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Key Takeaways from Market Study
- According to the forecast, mining applications will hold 40.6% of the market by the end of the forecast period.
- The gasoline market is projected to grow at a CAGR of 40.7% from 2023 to 2033.
- By 2033, the United States estimates project robotic refueling systems will generate $368.3 million in revenues.
- By 2033, sales of robotic refueling systems are expected to reach US$ 453.4 million in Japan.
- A projection shows that by 2033 the South Korean robotic refueling system market will grow by 41.3%.
- In 2033, the Chinese market is expected to be worth US$673.6 million.
“Robotics and advanced technologies will play a major role in the market over the next few years. A growing AI industry and the development of petroleum industries are driving demand” says an analyst at Persistence Market Research.
Competitive Landscape
A global expansion of a company involves developing new products, acquiring or merging companies, investing, and forming partnerships. Due to the highly competitive nature of the market, robotic refueling systems are a cost-effective solution. Technological advancements will increase market competition.
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Top Companies are
Scott Technology, Fuelmatics AB, Rotec Engineering B.V., Neste Oyj, Shaw Development LLC, Plug Power Inc., Aerobotix, Airbus S.A.S, The Boeing Company, ABB Group, KUKA, Simon Group Holdings, FANUC Corporation, Husky Corporation
Recent Developments
- In February 2023, Danish company Autofuel developed a system that automatically refuels vehicles through a computer, eliminating human interaction and thus reducing risk. In addition to providing convenience to users, the Autofuel robotic refueling system also provides support for the needs of the disabled and the future of autonomous mobility. A sophisticated artificial intelligence algorithm is also used by Autofuel to position the car correctly. All directions, including the status of refueling, are displayed on a screen with intuitive graphics.
- In March 2023, Stratom, which develops robotic refueling systems and autonomous vehicles, and Imenco, which specializes in refueling for military and civil aviation, formed a strategic alliance to provide automatized refueling to customers worldwide. Industrial, aviation, defense, and offshore industries will benefit from the collaboration since it delivers proven advanced refueling systems that are safe, sustainable, and boost business value.
Know More about Report Inclusions
Persistence Market Research published a new market report on the robotic refueling system market, covering a global industry analysis of 2018-2022 and forecasts for 2023 to 2033. This research report provides compelling insights on the basis of product type, application outlook, and sales channel, across all major regions.
The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. It also addresses the restraints that are projected to hinder market growth, along with the latest trends and potential opportunities in the market.
For additional information on how robotic refueling system sales will increase in the near future, write to the team of expert research analysts at media@persistencemarketresearch.com
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