Pune, India, February 27, 2019/MRFR Press Release/- Market Research Future published a half-cooked research report on Global Air Powered Vehicle Market. The global Air Powered Vehicle Market is expected to witness ~15% CAGR during the period, 2022 to 2030.
Technological developments in the global automotive sector has given rise to alternative fueled vehicles such as air powered vehicles. These vehicles, which operate on the principle of compressed air technology, do not have an adverse effect on the environment, like internal combustion engine vehicles. Thus, they have witnessed growing demand from countries that have stringent regulatory policies in place, regarding the environment.
Growing popularity of eco-friendly fuel and increasing awareness regarding the importance of maintaining the environmental balance has driven the market for air powered vehicles. However, lack of spending power on these vehicles, which are more expensive than ICE engines currently, is creating an obstacle to the growth of the market, particularly in some developing and under-developed countries.
Drivers: Air Powered Vehicle
Market Research Analysis
In terms of region, the global Air Powered Vehicle market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific accounted for a considerable market share in 2018. The market in this region has witnessed growing demand on account of an improvement in the standards of living of the people and growing stringency in terms of environmental regulations. Counttries such as China and Japan are expected to be the major contributors o the market in this region.
Europe, which is considered to be an engineering hub for the global automotive industry, is also expected to witness considerable demand over the next five years. Presence of major players in France, Italy and Germany are expected to have a positive impact on the market in this region. Besides, incentives and subsidies in some countries encouraging the usage of air powered vehicles, are also playing a key role in the market growth.
Browse In-depth Detailed Research Report [Table of Content, List of Figures, List of Tables] of Air Powered Vehicle Market Trends
Scope of the Report
This study provides an overview of the global Air Powered Vehicle Market, tracking five market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Air Powered Vehicle Market by type, vehicle type, business model and region.
The global air powered vehicle market was dominated by major players such as Motor Development International SA (France), Tata Motors (India), Honda Motor Company, Ltd. (Japan), Groupe PSA (France), Engineair Pty Ltd (Australia), and Phinergy (Israel).