The mining industry to ensure robotic refueling systems formidable growth rate, which in turn is anticipated to propel the robotic refueling system market. In addition, the flexibility of dispensing different fuels and low cost of operation is going to act as a catalyst for the robotic refueling system market growth. Moreover, the emergence of AI-based autonomous cars is anticipated to offer significant growth opportunities for the robotic refueling system market in the forecast period. For decades, fuel pumps have been operated by humans, thus, raising the total operational cost of managing the store and the pump. An operator has already been assigned for the task of fueling and managing the monetary operations. A robotic fueling station would eliminate the need for a human to potentially dangerous petrochemical fumes, avoiding driver’s exposure to extreme cold or hot temperatures during fueling, and reducing the labor costs associated with full-service fueling stations. Additionally, fueling a diesel car with petrol or vice versa has always been the most careless mistake while refueling. Robotic refueling systems eliminate the chances of wrong fuelling accidents as each vehicle would have an RFID tag which would inform the refueling station regarding the type of fuel used such as petrol, diesel, or natural gas.
The Asia Pacific Robotic Refueling System market is growing along with the Electronics and Semiconductor industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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The China dominated the robotic refueling system market in 2018 and is expected to dominate the market with the highest share in the Asia Pacific region through the forecast period. China has increasingly evolved as the second leading crude oil consumer and has ranked fifth in the world in terms of production. The oil & gas market is dominated by the local oil companies that contribute to over 75% of the production. Growing oil & gas industry is expected to increase the adoption of robotic refueling system as it helps the workers to stay far from the stations and reduces human intervention. On the other hand, China aims to be a moderately prosperous society in every aspect, including space technology. Therefore, the country was projected to launch 100 satellites by 2025. For this step, China invested a massive amount in making its own space station by 2022. Such investment by the country towards making the infrastructure fully automated will also require a robotic refueling system. The country projects to be fully developed, rich, and powerful nation by leading in innovation, outer space, and artificial intelligence.
These factors are expected to offer broad growth opportunities in the Electronics and Semiconductor industry and this is expected to cause the demand for Asia Pacific Robotic Refueling System in the market.
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Asia Pacific Robotic Refueling System Market – MARKET SEGMENTATION
- Gaseous Fuel
By Industry Vertical
- Aerospace and Defense
- Oil and Gas
- South Korea
- Rest of APAC
Robotic Refueling System Market – Companies Mentioned
- ABB Ltd.
- Fanuc Corporation
- Fuelmatics AB
- Gazprom Neft PJSC
- Kuka AG
- Rotec Engineering
- Scott Technology Limited
- Shaw Development LLC
- Yaskawa Electric Corporation
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