Global Air Powered Vehicle Market is expected to reach US$1.45  Bn by 2026, at a CAGR of XX % during a forecast period.




The report segment of air powered vehicle market based on energy mode, vehicle type, and geography. Based on energy mode, the air powered vehicle market is classified into single energy mode, and dual energy mode. On the basis of vehicle type, the air powered vehicle market is categorized into Passenger Vehicles, and Commercial Vehicles. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.




Air powered vehicle utilizes compressed air, a non-polluting fuel, as a power source in order to run the vehicle. Increase in cost of fossil fuel, owing to its limited stock and availability, and surge in demand for emission-free vehicles have led to the development of the air powered vehicle. The air powered vehicle is economical, requires low refuelling cost, and is more efficient than the conventional fossil fuel-powered vehicle. Furthermore, the limited resources of fossil fuel are expected to propel the air powered vehicle market during the forecast period. An air powered vehicle offers several advantages such as easy to maintain, superior comfort, and no pollution. Low speed of the air powered vehicle coupled with limited infrastructure for refuelling is a major factor that is likely to hamper the air powered vehicle market during the forecast period. Moreover, increase in adoption of electric vehicles, owing to emission concerns and government subsidies and incentives being offered on purchase on electric vehicles, is another factor that is estimated to hinder the air powered vehicle market during the forecast period.







Global Air Powered Vehicle Market by Vehicle Type




In terms of energy mode, the single energy mode segment is estimated to lead the air powered vehicle market. The single energy mode air powered vehicle uses only compressed air as a fuel, while a dual energy mode air powered vehicle employs compressed air as well as fuel. The dual energy mode air powered vehicle utilizes compressed air at low speeds and employs fuel at high speeds.




Based on vehicle type, the passenger vehicle segment is anticipated to account for a notable share of the air powered vehicle market. Increase in regulation on emission in cities and sub-cities is estimated to boost the air powered vehicle market, as an air powered vehicle is less polluting and is expected to comply with emission regulations. Furthermore, increase in demand for lightweight and compact vehicles, owing to the rise in demand for efficient vehicles, is anticipated to propel the air powered vehicle market during the forecast period.




In terms of geography, Asia Pacific accounts for a major share of the global air powered vehicle market. North America and Europe are also expected to witness a rise in demand for air powered vehicles in the automotive industry during the forecast period due to stringent norms enacted by state regulation bodies regarding emissions.




Some of the major players operating in the global air powered vehicle market include Motor

Development International SA, Tata Motors, Magnetic Air Car, Inc., Engineair Pty Ltd, Honda Motor Co., Ltd., and Groupe PSA. Among global manufactures, Motor Development International SA is a pioneer of the air powered vehicle technology.




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Scope of the Global Air Powered Vehicle Market




Global Air Powered Vehicle Market by Energy Mode




Single Energy Mode
Dual Energy Mode

Global Air Powered Vehicle Market by Vehicle Type




Passenger Vehicles
Commercial Vehicles

Global Air Powered Vehicle Market by Geography




North America
Europe
Asia-Pacific
Middle East & Africa
Latin America

Key Players operating in the Global Air Powered Vehicle Market




Motor Development International SA
Tata Motors
Magnetic Air Car, Inc.
Engineair Pty Ltd
Honda Motor Co., Ltd.
Groupe PSA

 

 This Report Is Submitted By : Maximize Market Research Company

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