Report : Europe Robotic Refueling System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Hardware and Software), Fuel (Gaseous Fuel, Gasoline, Diesel, and Others), and Industry Vertical (Aerospace and Defense, Automotive, Construction, Oil and Gas, Mining, and Others)
According to our latest market study on “Europe Robotic Refueling System Market Forecast to 2028 – COVID-19 Impact and Analysis – by Component (Hardware and Software), Fuel (Gaseous Fuel, Gasoline, Diesel, and Others), Industry Vertical (Aerospace and Defense, Automotive, Construction, Oil and Gas, Mining, and Others),” the market was valued at US$ 6.47 millions in 2021 and is projected to reach US$ 59.74 millions by 2028; it is expected to grow at a CAGR of 32.0% from 2021 to 2028.
Automated/robotic fuelling systems can eliminate operation personnel’s exposure to flammable liquid and repetitive strain injuries. Additionally, in the construction industry, refueling cars, trucks, machinery, or other vehicles is a common activity, but it can be an awfully hazardous job if done imperfectly. Not just improper fuelling can cause fires, burns, or explosions, but the diesel or petrol is itself a hazardous material with the potential for spills and leaks.
With the advent of autonomous vehicles, the vehicle would be directed by humans to enter a fuelling station. However, the addition of artificial intelligence (AI) coupled with autonomous driving will extend beyond independent drive, and it will also aid in autonomous ongoing refueling operations, which will negate the need for human intervention for refueling the car. With the advent of level 5 autonomous vehicle coupled with AI (artificial intelligence), a vehicle can enter a robotic fuel pump on its own when the fuel level drops below the threshold level. Additionally, in the mining industry, autonomous trucks can stop at a containerized fuel station for the purpose of refueling without the intervention of human. The concept of swarm intelligence (SI) is expected to allow the collaboration of multiple autonomous vehicles in the industry to take collective action of refueling when needed.
Refueling navy or civil vessels in the open sea, along with all underway replenishment (UNREP) deeds, is a challenging task. Huge, conventional vehicles entail huge cranes to lift the required fuel lines and related cabling between two vessels during a connected replenishment (CONREP). Mariners are in the circle to manually detach and attach all of this obligatory cabling and respond in case the procedure does not go according to standard operating measures. If the ships deviate too far apart or communication breaks down during the attaching process, lines can viciously snap, and deckhands can be killed or injured. With the worsening of weather conditions, the risk to the crew also propagates. Thus, robotics refueling systems can negate the risk associated with the refueling of marine vessels in the open sea.
Impact of COVID-19 on Europe Robotic Refueling System Market
The impact of COVID-19 pandemic differed from country to country across Europe. Various countries recorded an increase in the number of infected cases and subsequently imposed strict and extended lockdown periods or social isolation. Due to the decline in operations in several industries, the demand for robotic refueling systems decreased notably. The automotive industry in Europe was severely hit and witnessed decline in overall automotive production by over 20% from 2019 due to severe supply chain disruption caused by lockdowns globally. The automotive industry is one of the largest end users for the robotic refueling systems market. Hence, the decline in the automotive industry reduced the demand for respective robotic refueling systems during 2020 as companies halted significant investments.
Domestic and international travel restrictions restrained the movement of passengers. Since operations at various airports were disrupted due to stringent restrictions, the requirement for robotic refueling systems was negatively affected to a drastic extent. However, the COVID-19 pandemic has compelled manufacturers to streamline their production processes to overcome the unexpected disruption. The demand for robotic refueling systems is expected to recover by 2022, as companies are investing in making operations efficient and productive.
The report segments the Europe robotic refueling system market as follows:
The Europe robotic refueling system market is segmented based on fuel, component, and industry vertical. Based on fuel, the market is segmented into gaseous fuel, gasoline, diesel, and others. Based on component, the market is segmented into hardware and software. Based on industry vertical, the market is bifurcated into aerospace and defense, automotive, construction, oil and gas, mining, and others. In terms of geography, the Europe robotic refueling system market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. A few of the key companies operating in the Europe robotic refueling system market are ABB Ltd, Fanuc Corporation, Fuelmatics AB, Gazprom Neft PJSC, Kuka AG, Rotec Engineering, Shaw Development LLC, Yaskawa Electric Corporation, Neste, and Scott Technology Ltd.
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