Air Powered Vehicle Market Report 2024 (Global Edition)

Global Air Powered Vehicle Market Report 2024 Market Size Split by Vehicle Type (Passenger Vehicle, Commercial Vehicle, Motorcycles & Scooters), by Product Type (Single Energy Mode, Dual Energy Mode),...

Air Powered Vehicle Market Report Description

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Competitive Landscape of the Air Powered Vehicle Test market

Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their Worldwide footprint, with significant market developments including new Material portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. Because of automation and technological advancement, businesses compete fiercely to deliver innovative products.

Air Powered Vehicle Test Industry News

Jeep India will release the price of the forthcoming Grand Cherokee SUV in November 2022. This news is confirmed by the company's recent announcement of the Grand Cherokee's first teaser, which is headed to India. The upcoming Grand Cherokee will be the flagship SUV in the brand's India lineup, positioned above the Jeep Meridian. On the other hand, the forthcoming Jeep Grand Cherokee is scheduled to be delivered in early December and cost about Rs 85 lakh.

Source-www.jeep-india.com/press-release/jeep-india-launches-the-iconic-grand-cherokee-at-an-introductory-price-of-lakh-exshowroom.html#:~:text=COMPASS%20LIVE%20LEGENDARY-,Jeep%C2%AE%20India%20launches%20the%20iconic%20Grand%20Cherokee%20at%20an,77.5%20Lakh%20(EX%E2%80%93SHOWROOM)&text=Mumbai%2C%2017th%20November%202022,an%20Auto%20show%20in%20Detroit.

February 2017: The company's project was completed in its first phase, and the second stage had begun a few years earlier, according to Dr. Tim Leverton. With the goal of "starting industrialization," Tata planned to launch its first cars by 2020. Other reports claim that Tata is also considering reviving concepts for a Tata Nano with compressed air, which was formerly thought about as part of their collaboration with MDI.

Source-www.irjet.net/archives/V8/i9/IRJET-V8I9283.pdf

The newest model to be added to the country's S-CNG product roster is the Maruti Suzuki S-Presso, which will debut in October 2022. Nonetheless, two car variants are available: LXi and VXi. Furthermore, the starting price of the recently released Maruti Suzuki S-Presso CNG is Rs 5.90 lakh.

Source-www.marutisuzuki.com/corporate/media/press-releases/2022/october/maruti-suzuki-s-presso-now-also-available-with-s-cng-technology

Top Companies Market Share in Air Powered Vehicle Industry: (In no particular order of Rank)

• Motor Development International SA
• Tata Motors (India)
• Honda Motor Company Ltd. (Japan)
• Groupe PSA (France)
• Engineair Pty Ltd (Australia)
• Phinergy (Israel)
• EngineAir Pty Ltd
• Honda Motor Co. Ltd.
• Peugeot Citroën South Africa (Proprietary) Limited
• Matrix Comsec Pvt. Ltd.
• Magnetic Air Cars Incorporated
• Stellantis NV
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

In terms of revenue, the North America Air Powered Vehicle Test Market share was 40% of the total market

According to Cognitive Market Research, North America dominated the market in 2023 and accounted for around 40% of the Worldwide revenue. Growing environmental consciousness and the development of renewable energy for transportation are the main factors driving this industry. Nearly 70% of the market's income comes from the US, which controls most of the market.

APAC is the fastest-growing category. A few developing nations with substantial auto markets, such as China and India, define this area. Governments' and other pertinent authorities' increased environmental protection initiatives are another factor driving the demand for air-powered cars in this region. This region is known for being a significant exporter of air-powered vehicles because of its low manufacturing costs, reasonably priced skilled labor, and state-of-the-art infrastructure.

The current report Scope analyzes Air Powered Vehicle Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Air Powered Vehicle Market

According to Cognitive Market Research, the Worldwide Air Powered Vehicle Test market size was estimated at USD 100.2 Million, out of which North America held the major market of more than 40% of the Worldwide revenue with market size of USD 40.08 million in 2023 and will grow at a compound annual growth rate (CAGR) of 33.4% from 2023 to 2030 owing to Growing environmental consciousness and the development of renewable energy for transportation are the main factors driving this industry in this area. Nearly 70% of the market's income comes from the US, which controls most of the market. According to Cognitive Market Research, single-energy mode is the fastest-growing category over the forecast period because single-energy type air-powered vehicles only require compressed air for propulsion. Single-energy is expected to dominate the industry. Furthermore, the growing demand for emission-free automobiles in cities and emerging countries is expected to account for a sizable market share throughout the projected period. In conclusion, the North American Air Powered Vehicle Test market is thriving due to the rising technological advancements in Air Powered Vehicle testing products and product launches, the rising incidence of chronic liver diseases and jaundice, and favorable insurance coverage.

• According to Cognitive Market Research, the US had a major share in the Air Powered Vehicle Tests market, with a market size of USD 31.62 million in 2023, projected to grow at a CAGR of 33.2% during the forecast period. This is mainly due to initiatives for sustainable transportation being well-supported throughout the US. 
• The Canada Air Powered Vehicle Tests market had a market share of USD 4.81 million in 2023 and is projected to grow at a CAGR of 34.2% during the forecast period. This is because of the region's emphasis on cutting carbon emissions, which stimulates interest in vehicles that run on air power, which aligns with the environmental strategy. 
• The Mexico Air Powered Vehicle Tests market is projected to grow at a CAGR of 33.9% during the forecast period, with a market size of USD 3.65 million in 2023.

Europe Air Powered Vehicle

According to Cognitive Market Research, with a market value of USD 100.2 million in 2023 and projected to expand at a compound annual growth rate (CAGR) of 33.7% from 2023 to 2030, Europe accounted for a share of over 30% of the Worldwide market size of USD 30.06 million due to the adoption of numerous government initiatives aimed at promoting environmentally friendly vehicles, including air-powered vehicles. In addition, the UK air-powered vehicle market was increasing at the quickest rate in the European Union. In conclusion, the European Air Powered Vehicle Test market thrives due to Strong government measures supporting preventative healthcare. 

• According to Cognitive Market Research, the German Air Powered Vehicle Tests market was valued at USD 5.95 million in 2023 and is projected to grow at a CAGR of 33.9% during the forecast period. This is due to Strict emission standards and government laws limiting carbon footprints. 
• The United Kingdom Air Powered Vehicle Tests market had a market share of USD 5.05 million in 2023 and is projected to grow at a CAGR of 34.5% during the forecast period. This is due to raising the general public's knowledge about green cars. 
• The France Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 32.9% during the forecast period, with a market size of USD 2.77 million in 2023.
• The Italy Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 33.1% during the forecast period, with a market size of USD 2.59 million in 2023.
• The Russian Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 32.7% during the forecast period, with a market size of USD 4.66 million in 2023.
• The Spain Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 32.8% during the forecast period, with a market size of USD 2.46 million in 2023.
• The Portugal Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 33.5% during the forecast period, with a market size of USD 0.63 million in 2023.
• The Luxembourg Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 33.8% during the forecast period, with a market size of USD 0.93 million in 2023.
• The Greece Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 34% during the forecast period, with a market size of USD 0.36 million in 2023.
• The Rest of Europe's air-powered vehicle tests market is projected to witness growth at a CAGR of 32.4% during the forecast period, with a market size of USD 4.66 million in 2023.

Asia Pacific Air Powered Vehicle

According to Cognitive Market Research, the Worldwide Air Powered Vehicle Test market size was estimated at USD 100.2 Million, out of which Asia Pacific held the market of more than 23% of the Worldwide revenue with a market size of USD 23.05 million in 2023 and will grow at a compound annual growth rate (CAGR) of 37.2s% from 2023 to 2030 This area is defined by a few developing nations with substantial auto markets, such as China and India. Governments' and other pertinent authorities' increased environmental protection initiatives are another factor driving the demand for air-powered cars in this region. This region is known for being a significant exporter of air-powered vehicles because of its low manufacturing costs, reasonably priced skilled labor, and state-of-the-art infrastructure. According to Cognitive Market Research, Passenger vehicles held the major market share over the forecast period because of advancements in city and suburban pollution standards as well as the reality that air-powered cars are pollution-free and adhere to emission laws. This is anticipated to drive demand for air-powered cars in the passenger car category further throughout the projected period. In conclusion, the Asia Pacific Air Powered Vehicle Test market shows significant growth due to fast urbanization, Governments, and other pertinent authorities' increased environmental protection initiatives.

• According to Cognitive Market Research, the China Air Powered Vehicle Tests market size was valued at USD 10.37 million in 2023 and is projected to grow at a CAGR of 36.7% during the forecast period. This is due to vehicles' low manufacturing costs, reasonably priced skilled labor, and state-of-the-art infrastructure. 
• The India Air Powered Vehicle Tests market had a market share of USD 2.77 million in 2023 and is projected to grow at a CAGR of 39.0% during the forecast period. This is due to fast urbanization and increased environmental protection initiatives by governments and other pertinent authorities. 
• The Japan Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 35.7% during the forecast period, with a market size of USD 3.18 million in 2023.
• The South Korean Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 36.3% during the forecast period, with a market size of USD 1.20 million in 2023.
• The Australian Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 36.9% during the forecast period, with a market size of USD 19.44 million in 2023.
• The South East Asia Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 38.2% during the forecast period, with a market size of USD 1.59 million in 2023.
• The Rest of the Asia Pacific Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 37.0% during the forecast period, with a market size of USD 1.64 million in 2023.

South America Air Powered Vehicle

According to Cognitive Market Research, the Worldwide Air Powered Vehicle Tests market size was estimated at USD 100.2 Million, out of which the Latin America market of more than 5% of the Worldwide revenue with market size of USD 5.01 million in 2023 and will grow at a compound annual growth rate (CAGR) of 34.6% from 2023 to 2030 due to increasing region's emphasis on cutting carbon emissions stimulates interest in vehicles that run on air power, which is in line with the environmental strategy. Motorcycles and scooters are the fastest-growing category over the forecast period. The growing demand for tiny, light cars is expected to fuel the growth of the air-powered vehicle market globally. This motorbike has an air motor, which converts compressed air energy into mechanical motion energy in place of an internal combustion engine. A computerized speed controller is used to build a prototype that is then tested on public roads. In conclusion, the Latin American Air Powered Vehicle Test market exhibits steady growth, driven by increasing Programmes for research and development funded by the government, stimulating interest in vehicles that run on air power.

• According to Cognitive Market Research, the Brazil Air Powered Vehicle Tests market size was valued at USD 2.14 million in 2023 and is projected to grow at a CAGR of 35.2% during the forecast period. This is majorly due to the improvements in technology. 
• The Argentina Air Powered Vehicle Tests market had a market share of USD 0.84 million in 2023 and is projected to grow at a CAGR of 35.5% during the forecast period. This is because air-powered cars are becoming increasingly popular as a feasible choice for sustainable mobility. 
• The Colombia Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 34.4% during the forecast period, with a market size of USD 0.45 million in 2023.
• The Peru Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 34.8% during the forecast period, with a market size of USD 0.41 million in 2023.
• The Chile Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 34.9% during the forecast period, with a market size of USD 0.36 million in 2023.
• The Rest of the Latin America Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 33.7% during the forecast period, with a market size of USD 0.81 million in 2023.

Middle East and Africa Air Powered Vehicle

According to Cognitive Market Research, the Worldwide Air Powered Vehicle Test market size was estimated at USD 100.2 Million, out of which the Middle East and Africa held the major market of more than 3% of the Worldwide revenue with market size of USD 2 million in 2023 and will grow at a compound annual growth rate (CAGR) of 34.9% from 2023 to 2030 due Air-powered cars are becoming more and more popular as a feasible choice for sustainable mobility in the region due to its rising urbanization and focus on cleaner transportation options. According to Cognitive Market Research, Dual Energy Mode has a prominent market share using petrol and compressed air. The dual energy mode air-powered vehicle uses gasoline at high speeds and compressed air at low ones. In conclusion, the MEA (Middle East and Africa) Air Powered Vehicle Test market exhibits growth potential due to rising urbanization and focus on cleaner transportation options.

• According to Cognitive Market Research, the GCC Countries Air Powered Vehicle Tests market size was valued at USD 0.86 million in 2023 and is projected to grow at a CAGR of 35.7% during the forecast period. This is major due to the focus on cleaner transportation options. 
• The South African Air Powered Vehicle Tests market had a market share of USD 0.32 million in 2023 and is projected to grow at a CAGR of 35.9% during the forecast period. This is due to the Growing environmental consciousness and the development of renewable energy for transportation. 
• The Egypt Air Powered Vehicle Test market is projected to witness growth at a CAGR of 35.2% during the forecast period, with a market size of USD 0.21 million in 2023.
• The Turkey Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 34.4% during the forecast period, with a market size of USD 0.17 million in 2023.
• The Nigeria Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 34.0% during the forecast period, with a market size of USD 0.21 million in 2023.
• The Rest of the MEA Air Powered Vehicle Tests market is projected to witness growth at a CAGR of 33.9% during the forecast period, with a market size of USD 0.24 million in 2023.

Air Powered Vehicle Market Analysis

Air Powered Vehicle Test market Vehicle Type Segment Analysis

According to Cognitive Market Research, passenger vehicles held the major market share over the forecast period because of advancements in city and suburban pollution standards and the reality that air-powered cars are pollution-free and adhere to emission laws. This is anticipated to drive demand for air-powered cars in the passenger car category further throughout the projected period.

Motorcycles and scooters are the fastest-growing category over the forecast period. The growing demand for tiny, light vehicles is expected to fuel the growth of the air-powered vehicle market globally. This motorbike has an air motor, which converts compressed air energy into mechanical motion energy in place of an internal combustion engine. A computerized speed controller is used to build a prototype that is then tested on public roads.

• Passenger Vehicle
• Commercial Vehicle
• Motorcycles & Scooters

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Air Powered Vehicle Industry. Request a Free Sample PDF!

Air Powered Vehicle Test market Product Type Segment Analysis

According to Cognitive Market Research, Dual Energy Mode has a prominent market share using petrol and compressed air. The dual energy mode air-powered vehicle uses gasoline at high speeds and compressed air at low ones.

Single Energy Mode is the fastest-growing category over the forecast period. Because single-energy type air-powered vehicles only require compressed air for propulsion, single-energy is expected to dominate the industry. Furthermore, the growing demand for emission-free automobiles in cities and emerging countries is expected to account for a sizable market share throughout the projected period.

• Single Energy Mode
• Dual Energy Mode

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Air Powered Vehicle Range Segment Analysis

According to Cognitive Market Research, more than 200 KM holds a dominating market share and is anticipated to expand quickly due to the car's compressed air "battery" being charged when one plugs in any device. The motor is powered by the air that has been stored as energy. The maximum driving distance while using compressed air alone is 120 km; however, when using air plus 2.25 Liters of petrol in dual fuel mode, the maximum driving distance is 360 km.

100-200 KM range is the fastest growing category due to growing demand for light vehicles that are accessible for short distances and doesn’t not require to cover large distances.

• Less Than 100 KM
• 100-200 KM
• More Than 200 KM

Air Powered Vehicle Top Speed Segment Analysis

According to Cognitive Market Research, Up To 100 km holds a prominent market share mostly because It boasts a high speed of 110 km/h, a quieter operation, and an endurance rating of around 200 km before refueling the tanks. Compressed air is used to power air-powered vehicles rather than petrol. There is no pollution since the automobile runs on air. A two-cylinder compressed air engine powers the automobile.

Over the forecast period, More Than 100 kmph is the fastest-growing category due to the development of a hybrid version of its engine that may operate on conventional gasoline when it is burned with air. The electronic control modifies the energy source. The automobile runs faster and in the air at less than 60 kph.

• Up To 100 kmph
• More Than 100 kmph

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in the Transport & Logistics domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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