What is the global market size of the Air Powered Vehicle Market?

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).

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), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Air Powered Vehicle Market?

Global air powered vehicle market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Air France', 'Airbus', 'Boeing', 'Delta Air Lines', 'Emirates', 'Etihad Airways', 'General Electric', 'Honeywell Aerospace', 'Japan Airlines', 'Lufthansa Group', 'Mitsubishi Heavy Industries', 'Pratt & Whitney', 'Qantas Airways', 'Rolls-Royce Holdings', 'Singapore Airlines', 'Southwest Airlines', 'Turkish Airlines', 'United Airlines', 'Virgin Atlantic Airways', 'Wärtsilä Corporation'

Q: What is the key driver of the Global Air Powered Vehicle Market?

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 the 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.

Q: Which region accounted for the largest share in the Global Air Powered Vehicle Market?

Asia Pacific is expected to hold the major share of the global air powered vehicle market during the forecasting years owing to the presence of developed countries for advanced research and development facilities for air powered vehicles across the region. The region is expanding due to several economies such as China, India, South Korea, Indonesia, and Malaysia in the automotive market. In addition, the governmental initiatives and also initiatives by the respected authorities regarding the environment protection is also supporting the growth rate of air powered vehicle market in the region.

Report ID: SQMIG25C2048 | Region: Global | Published Date: July, 2024
Pages: 272 | Tables: 61 | Figures: 75

Air Powered Vehicle Market News

In November 2022, Jeep India will announce pricing for the new Grand Cherokee SUV. The company has already released the first teaser of the India-bound Grand Cherokee, confirming this development. The new Grand Cherokee will be the brand’s flagship SUV, sitting above the Jeep Meridian in the brand’s India line-up. However, the pricing for the new Jeep Grand Cherokee will be around Rs 85 lakh (ex-showroom) and deliveries will be started by early December.

In October 2022, Maruti Suzuki S-Presso is the brand-new model to join the S-CNG product lineup in the country. The vehicle is, however, available in two variant options, LXi and VXi. In addition, the newly launched Maruti Suzuki S-Presso CNG is available at a starting price of Rs 5.90 lakh (ex-showroom).

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Air Powered Vehicle Market size was valued at USD 936.23 billion in 2019 and is poised to grow from USD 1483.69 billion in 2023 to USD 5201.31 billion by 2031, growing at a CAGR of 59% in the forecast period (2024-2031).

air powered vehicle market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Air France', 'Airbus', 'Boeing', 'Delta Air Lines', 'Emirates', 'Etihad Airways', 'General Electric', 'Honeywell Aerospace', 'Japan Airlines', 'Lufthansa Group', 'Mitsubishi Heavy Industries', 'Pratt & Whitney', 'Qantas Airways', 'Rolls-Royce Holdings', 'Singapore Airlines', 'Southwest Airlines', 'Turkish Airlines', 'United Airlines', 'Virgin Atlantic Airways', 'Wärtsilä Corporation'

Increase in air pollution has prompted and encouraged 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 the 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.

The key manufacturing companies are focussing on: investments on research and development purpose of the air powered vehicles to increase the range and performance of the vehicles. In addition, companies are working on the development of production vehicles.

Asia Pacific is expected to hold the major share of the air powered vehicle market during the forecasting years owing to the presence of developed countries for advanced research and development facilities for air powered vehicles across the region. The region is expanding due to several economies such as China, India, South Korea, Indonesia, and Malaysia in the automotive market. In addition, the governmental initiatives and also initiatives by the respected authorities regarding the environment protection is also supporting the growth rate of air powered vehicle market in the region.

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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), By Region - Industry Forecast 2024-2031

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What is the market size of Air Powered Vehicle Market?

Who are the key vendors in the Air Powered Vehicle Market?

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