PUBLISHER: SkyQuest | PRODUCT CODE: 1321791
PUBLISHER: SkyQuest | PRODUCT CODE: 1321791
Global Air Powered Vehicle Market Size, Share, Growth Analysis, By Product type(Single energy mode, and dual energy mode), By Vehicle type (Passenger cars, commercial vehicles) - Industry Forecast 2023-2030
Global Air Powered Vehicle Market size was valued at USD 936.23 billion in 2021 and is poised to grow from USD 1483.69 billion in 2022 to USD 5201.31 billion by 2030, growing at a CAGR of 59% in the forecast period (2023-2030).
The air-powered vehicle (APV) consists of three essential components: an air tank, a compressed air engine, and a control system. The primary technologies employed in air-powered vehicles are the compressed air system and compressed air engine. These vehicles utilize compressed air as a power source, which is then directed into a small chamber to generate power for propulsion. Achieving high energy conversion efficiency and driving range in air-powered vehicles requires minimizing energy loss during the air compression and decompression process and improving the utilization rate of compressed air energy. The increasing demand for clean and sustainable energy, coupled with stringent regulations pertaining to vehicular emissions, is expected to drive the growth of the air-powered vehicle market. Additionally, the rising cost of fossil fuels due to limited reserves and accessibility issues further supports the market's expansion in the forecast period.
Segments covered in this report:
Global Air Powered Vehicle Market is segmented based on the product type, vehicle type, and region. Based on product type, the Air Powered Vehicle Market is segmented into single energy mode, and dual energy mode. Based on vehicle type, the Air Powered Vehicle Market is segmented into passenger cars, commercial vehicles. Based on region, Air Powered Vehicle Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Driver
The market for air-powered vehicles is expected to witness growth driven by an increasing awareness of air pollution and its detrimental effects. Global regulatory bodies are actively promoting the development and adoption of low-emission vehicles, leading to the emergence of air powered vehicles as a solution to energy scarcity and environmental concerns. Studies indicate that transportation-related pollution, primarily caused by carbon emissions from fossil fuel-powered vehicles, contributes significantly to health issues, accounting for approximately 50% of total health impacts. This factor is anticipated to drive the demand for air powered vehicles in the forecast period as a means to mitigate harmful emissions and reduce pollution-related health risks.
Restraint
The growth of the air powered vehicles market may be hindered by stringent government policies. Factors such as the limited speed capabilities of air powered vehicles and the increasing popularity of electric vehicles, including battery electric vehicles and hybrid electric vehicles, driven by emission concerns and government incentives, pose challenges to the market. The subsidies and incentives provided for the purchase of electric vehicles contribute to their higher adoption rates, potentially impeding the growth of air powered vehicles.
Market Trends
Key manufacturing companies in the air powered vehicle market are prioritizing investments in research and development to enhance the range and performance of these vehicles. They are actively working on the development of production vehicles that incorporate advanced technologies and improved capabilities. This focus on R&D and production development reflects their commitment to advancing the air powered vehicle industry and meeting the evolving demands of consumers.
Table of Contents
Executive Summary
- Market Overview
- Wheel of Fortune
Research Methodology
- Information Procurement
- Secondary & Primary Data Sources
- Market Size Estimation
- Market Assumptions & Limitations
Parent Market Analysis
- Market Overview
- Market Size
- Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Key Market Insights
- Technology Analysis
- Pricing Analysis
- Supply Chain Analysis
- Value Chain Analysis
- Ecosystem of the Market
- IP Analysis
- Trade Analysis
- Startup Analysis
- Raw Material Analysis
- Innovation Matrix
- Pipeline Product Analysis
- Macroeconomic Indicators
- Top Investment Analysis
- Key Success Factor
- Degree of Competition
Market Dynamics & Outlook
- Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
- Regulatory Landscape
- Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
- Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Global Air Powered Vehicle Market by Product type
- Market Overview
- Single energy mode
- and dual energy mode
Global Air Powered Vehicle Market by Vehicle type
- Market Overview
- Passenger cars
- commercial vehicles
Global Air Powered Vehicle Market Size by Region
- Market Overview
- North America
- USA
- Canada
- Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
Competitive Landscape
- Top 5 Player Comparison
- Market Positioning of Key Players, 2021
- Strategies Adopted by Key Market Players
- Top Winning Strategies
- By Development
- By Company
- By Year
- Recent Activities in the Market
- Key Companies Market Share (%), 2021
Key Company Profiles
- Air France
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Airbus
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Boeing
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Delta Air Lines
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Emirates
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Etihad Airways
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- General Electric
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Honeywell Aerospace
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Japan Airlines
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Lufthansa Group
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Mitsubishi Heavy Industries
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Pratt & Whitney
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Qantas Airways
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Rolls-Royce Holdings
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Singapore Airlines
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Southwest Airlines
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Turkish Airlines
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- United Airlines
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Virgin Atlantic Airways
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Wärtsilä Corporation
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
