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.
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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.
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.
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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.
