PUBLISHER: Allied Market Research | PRODUCT CODE: 1140094
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140094
The report incorporates the study of the global air powered vehicle market that focuses on the type of alternative fuel vehicles that uses compressed air for impulsion. The air powered vehicles are green vehicles that uses compressed air engines as a substitute for internal combustion engine (ICE) for propulsion. As the fuel does not mix with the air in this engine, the combustion does not take place in air powered vehicles. Hence, it generally uses the expansion of compressed air as a power source to propel the piston of the engine. Initially, rise 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. Furthermore, it has gained popularity owing to numerous technological advancements such as improvements in the new system design of air powered vehicles including weight and volume reduction to reduce the space demand in the vehicle.
The factors such as increasing awareness of environment friendly vehicles, stringent government norms and emission standards to reduce carbon footprints, and rising fuel prices supplement the growth of the air powered vehicle market. However, low speed of air powered vehicles and increasing adoption of battery electric vehicles (BEVs) & hybrid electric vehicles (HEVs) are the factors expected to hamper the growth of the air powered vehicle market. In addition, increasing research and development in air powered vehicles and rise in demand for air hybrid vehicles creates market opportunities for the key players operating in the air powered vehicle market.
For the purpose of analysis, the global air powered vehicle market is segmented on the basis of product type, vehicle type, range, and top speed. By product type, the market is divided into single energy mode and dual energy mode. By vehicle type, it is fragmented into passenger cars, commercial vehicles, and motorcycles & scooters. By range, it is categorized into less than 100 KM, 100-200 KM, and more than 200 KM. By top speed, it is categorized into up to 100 kmph and more than 100 kmph. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading players operating in the air powered vehicles market are AB Volvo, Audi AG, Ballard Power Systems, BMW AG, Engineair Pty Ltd, General Motors, Honda Motor Co., Ltd., Hyundai Motor Company, Man SE, Mercedes-Benz Group AG, Motor Development International SA, Peugeot S.A., Phinergy, Suzuki Motor Corporation, Tata Motors, Toyota Motor Corporation, and Volkswagen AG.
Key Benefits For Stakeholders
Key Market Segments
By Vehicle Type
By Product Type
By Range
By Top Speed
By Region