Air Powered Vehicle Market
Air Powered Vehicle Market (Energy Mode - Single Energy Mode, Dual Energy Mode, Global Air Powered Vehicle Market; Vehicle Type - Passenger Vehicles, Commercial Vehicles) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
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Air Powered Vehicle Market - Snapshot
Air powered vehicle, also known as air compressed vehicle, is a green vehicle that uses a compressed air engine, an alternative of the internal combustion (IC) engine, and works on the principle of compressed air technology (CAT). An air powered vehicle utilizes compressed air, a non-polluting fuel, as a power source in order to run the vehicle. 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. The air powered vehicle offers long life of the vehicle, high energy density of compressed air, and low toxicity as compared to other alternatives of the IC engine vehicle.
Increase in air pollution has prompted and encouraged global regulatory bodies to develop low emission vehicles. This has boosted the development and introduction of air powered vehicles. The air powered vehicle is a solution to the energy shortage and environmental deprivation. Evidence recommends that transportation pollution accounts for about 50% of total health impacts instigated due to harmful carbon emission from fossil fuel-powered vehicles. This is a key factor that is likely to boost the demand for air powered vehicles during the forecast period. Furthermore, the air powered vehicle is economical, requires low refueling cost, and is more efficient than the conventional fossil fuel-powered vehicle. Moreover, the limited resources of fossil fuel are anticipated to propel the air powered vehicle market during the forecast period. An air powered vehicle offers numerous advantages such as easy to maintain, superior comfort, and no pollution. Furthermore, unlike battery operated electric vehicles or hybrid electric vehicles, the air powered vehicle is economical and its vehicle parts, such as compressed air tanks, can be recycled or predisposed with lesser pollution than the batteries used in electric vehicles. Air powered vehicles are lightweight vehicles, which makes them more efficient. Consequently, the air powered vehicle market is projected to expand at a significant growth rate during the forecast period.
Low speed of the air powered vehicle coupled with limited infrastructure for refueling is a major factor that is likely to hinder the air powered vehicle market during the forecast period. Furthermore, rise 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 projected to hamper the air powered vehicle market during the forecast period.
The global air powered vehicle market has been segmented based on energy mode, vehicle type, and geography.
In terms of energy mode, the single energy mode segment is projected to lead the air powered vehicle market. Demand for emission-free vehicles is higher in urban cities and developing towns. The single energy mode air powered vehicle employs only compressed air as a power source. The segment is projected to hold a prominent share of the market during the forecast period.
Based on vehicle type, the passenger vehicle segment is expected to account for a notable share of the air powered vehicle market. Rise in regulation on emission in cities and sub-cities is projected to boost the air powered vehicle market, as an air powered vehicle is less polluting and is projected to comply with emission regulations. This, in turn, is anticipated to boost the air powered vehicle market during the forecast period. Furthermore, rise in demand for lightweight and compact vehicles, owing to the increase in demand for efficient vehicles, is expected to propel the air powered vehicle market during the forecast period.
In terms of geography, Europe and Asia Pacific are projected to account for a prominent share of the global air powered vehicle market. This due to the higher rate of adoption of vehicles, coupled with their relatively low cost and rise in concerns about carbon emission. Furthermore, rise in export of vehicles in these regions is also estimated to boost the sales and production of vehicles during the forecast period. Australia, Italy, France, Spain, India, and New Zealand are projected to lead the global market during the forecast period, owing to the presence of production plants of air powered vehicle manufacturers in these countries.
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. Expansion and joint ventures undertaken by the company are projected to consolidate its position in the market during the forecast period.
The concept of emission-free vehicles is gaining immense popularity lately owing to the increased prices of fossil fuel. One of the key reasons responsible for this scenario is the limited availability and stock of fossil fuel. Moving forward, owing to consistent growth in air pollution, the government bodies of many countries across the globe have developed regulations, which promote the use of low emission vehicles. This scenario has resulted into the increased focus toward the development and launch of air powered vehicles. Air powered vehicle is a solution to the energy shortage and environmental deprivation. Thus, increased trend of emission-free vehicles has resulted into air powered vehicle development.
Air powered vehicle, or air compressed vehicle, refers to a green vehicle that makes the use of a compressed air engine, a substitute to the internal combustion (IC) engine. The product uses the principle of compressed air technology (CAT). Air powered vehicles are gaining traction across the globe as they use compressed air, which is a non-polluting fuel, as a source of power to operate the vehicle.
The air powered vehicle offers a wide range of advantages such as high energy density of compressed air, long life of the vehicle, and low toxicity in comparison to other options of the IC engine vehicle. Moving forward, the vehicle is gaining traction in all worldwide locations due to its economical nature as well as superior efficiency than that of traditional fossil fuel-powered vehicles. Apart from this, air powered vehicle need low refueling costs.
Major companies working in the air powered vehicle market are growing focus toward expanding their businesses. As a result, they are engaging into joint ventures and other strategic moves. Moving forward, many players are investing heavily in research and development activities. All these activities are resulting into promising growth opportunities for the global air powered vehicle market.
Air Powered Vehicle Market - Outline
An air powered vehicle is a compressed-air vehicle that uses a motor powered by compressed air. The car can be powered solely by air, or combined (as in a hybrid electric vehicle) with gasoline, diesel, ethanol, or an electric plant with regenerative braking. Compressed air cars are powered by motors driven by compressed air, which is stored in a tank at high pressure such as 31 MPa (4500 psi or 310 bar). Rather than driving engine pistons with an ignited fuel-air mixture, compressed air cars use the expansion of compressed air, in a similar manner to the expansion of steam in a steam engine.
There have been prototype cars since the 1920s, with compressed air used in torpedo propulsion. Air powered vehicles could be emission-free at the exhaust. Since an air powered vehicle’s source of energy is usually electricity, its total environmental impact depends on how clean the source of this electricity is. However, most air cars have petrol engines for different tasks. The emission can be compared to half of the amount of carbon dioxide produced by a Toyota Prius (being around 0.34 pounds per mile). Some engines can be fueled otherwise considering different regions can have very different sources of power, ranging from high-emission power sources such as coal to zero-emission power sources. A given region can also change its electrical power sources over time, thereby improving or worsening total emissions.
The principal advantages of an air powered vehicle is that it uses no gasoline or other bio-carbon based fuel. It offers high degrees of energy recovery can be accomplished with systems storing air using braking and pneumatic suspension. In addition to this, rotary engines and all mechanical and pneumatic parts can be manufactured with fiber reinforced thermosets or thermoplastics, reducing weight considerably and eliminating dependence of metallic resources.
Air Powered Vehicle Market - Overview
This report analyzes and forecasts the market for air powered vehicle at the global and regional level. The market has been forecasted based on revenue (US$ Mn) and volume (thousand units) from 2018 to 2026. The study includes drivers and restraints of the global air powered vehicle market. It also covers the impact of these drivers and restraints on the demand for air powered vehicle during the forecast period. The report also highlights opportunities and future scope in the air powered vehicle market at the global and regional level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global air powered vehicle market. The Porter’s Five Forces model for the air powered vehicle market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein technology is benchmarked based on market size, growth rate, and general market share.
The study provides a decisive view of the global air powered vehicle market by segmenting it in terms of energy mode, vehicle type, and geography. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for air powered vehicle in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers the demand for individual segments in all major countries across all regions.
The study includes profiles of major companies operating in the global air powered vehicle market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, recent developments, key executive bios, and manufacturing footprint.
The report provides the estimated market size of air powered vehicle for 2017 and forecast for the next nine years. The global market size of air powered vehicle has been provided in terms of revenue and volume. Market numbers have been estimated based on energy mode, vehicle type, and geography segments of air powered vehicle. Market size and forecast for each energy mode and vehicle type have been provided in terms of global and regional/country markets.
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports, American Automobile Association, European Automobile Manufacturers Association, Automotive Research Association of India, Organisation Internationale des Constructeurs d'Automobile (OICA), UITP, Factiva, etc.
Primary research involves e-mail interactions, telephonic interviews, linked interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
The global air powered vehicle market has been segmented as follows: