- Automakers rely on the development of advanced compressed air motors to make products in the air vehicle market competitive with electric vehicles
- Custom product designs in the pneumatic vehicle market to catalyze adoption in urban transportation; Asia Pacific is expected to be a very lucrative market, where the prospects propelled by the production of air-powered vehicles
ALBANY, NY, May 24, 2022 /PRNewswire/ — The design and development of air-powered cars is attracting significant investment from automakers due to consumers’ drive to purchase zero-emission and lightweight vehicles. Stakeholders will likely benefit massively from industry efforts toward standard regulatory policies for the testing of these vehicles. Product standardization is therefore essential for the future of compressed air vehicles, analysts observed in a study on market dynamics. The Global air vehicle market is expected to rise $5.3 Bn by 2031.
Automotive heavyweights are drawn to the incredible value that air-powered vehicles will bring to reducing greenhouse gas emissions and fossil fuel reliance for passenger vehicles. The TMR study found that air-powered passenger cars hold huge revenue opportunities. Several market players are ready to increase their stakes in the market to capture revenue streams from urban transport demand.
The latest developments of a pneumatically propelled vehicle are a reminder that storage tanks and pressure gauges should see considerable technological advances. The speed of air-powered vehicles, range and power generation technologies are thus the subject of much research, as they are crucial performance parameters, as shown by a structural analysis of air-powered vehicles.
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Key Findings from the Air Driven Vehicles Market Research
- Focus on emissions, safety and comfort in air-powered vehicles enhancing commercialization reach: Although air-powered vehicles are largely in the design stage, automakers are working to increase the speed and range of prototypes. Products in the air-powered vehicle market that operate solely on compressed air have received notable attention in this regard. Their growing prospects for reducing the carbon footprint of urban transportation have attracted major dollar spending from major automotive players. The TMR study found that single-fuel mode air-powered vehicles held a significant share of 56% in the air-powered vehicle market in 2020.
- Advancements in design and cost aspects of air motors to fuel product development: The trend to buy lightweight and environmentally friendly cars has prompted automakers to make continuous advancements in design and cost, both in single-fuel and dual-fuel modes. The study found that custom-designed pneumatic vehicles are expected to gain popularity as a next-generation emission-free vehicle concept.
- Passenger vehicles show huge revenue potential over the forecast period: The demand for air-powered passenger cars is attractive in the air-powered vehicle market. Passenger vehicle held a major revenue share in the air-powered vehicle market in 2020. A key trend fueling the development of air-powered passenger vehicles is the emphasis on urban and suburban emissions and the implementation implementation of various government regulations.
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Air-powered Vehicles Market: Key Drivers
- Emerging urban pollution issues have intensified efforts by the transportation industry to promote greener vehicles that feature low exhaust emissions and low road maintenance. The concept of air-powered vehicles is gaining ground in this context as they are lighter and have zero tailpipe emissions.
- Many automotive companies are increasingly embracing the concept of high risk, high reward. This has driven the evolution of the air-powered vehicle market.
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Compressed Air Vehicles Market: Regional Growth Dynamics
Asia Pacific held a significant share of the global air-powered vehicle market. Huge R&D on compressed air vehicles, especially in developed countries in the region, has catalyzed the expansion of the Asia Pacific market. Automakers and OEMs have entered into a collaboration to develop low-cost, low-emission vehicles, as in China, India, Indonesiaand Malaysia. A well-established automotive sector in the region has directed R&D towards environmentally friendly vehicles, especially those for urban transport.
Pneumatic Driven Vehicles Market: Key Players
Some of the major players in the inflatable vehicle market are Groupe PSA, Magnetic Air Car, Inc., Motor Development International SA, Matrix Comsec, Peugeot SA, Phinergy, Honda Motor Co. Ltd., Engineair Pty. ltd. and Tata. Engines.
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Air Driven Vehicles Market – Segmentation
- Mono-energy mode
- Dual energy mode
- Storage tanks
- Plastic piping systems
- Tourism vehicle
- commercial vehicle
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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