Market Research Future has come up with the latest report on the Global Air Powered Vehicle Market 2020. Market experiences an exponential growth by 2020, registering a fabulous CAGR of 15% during forecast period. The surge in the sale of vehicles, especially in the lockdown period due to novel coronavirus pandemic around the world, has affected the air powered vehicle market 2020 imperatively. Many factors are being scored behind the growth of the market, which has been discussed below. The forecasted period of the market’s growth is calculated for the years 2018–2023.
Top Driving Factors
Technological developments in the global automotive sector have given ascend to substitute fueled vehicles such as air powered vehicles. The growing popularity of eco-friendly fuel and escalating awareness regarding the significance of maintaining the environmental balance has motivated the market for air powered vehicles, presently. The air powered vehicle offers an elongated life of the vehicle, the towering energy density of compressed air, as well as low toxicity as compared to other alternatives of the IC engine vehicle. Due to this reason, the popularity of this has been up, thus became a growth booster factor for the market.
Top Companies profiled in Air Powered Vehicle Market Research Report:
Motors (India), Engineair Pty Ltd (Australia), Motor Development International SA (France), Groupe PSA (France), Honda Motor Company, Ltd. (Japan), and Phinergy (Israel).
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Segmentation of Market
The global air powered vehicle market has been segmented on the basis of energy mode and vehicle type.
By Energy Mode
· Single Energy Mode
· Dual Energy Mode
By Vehicle Type
· Passenger Cars
Geographically, the global air powered vehicle industry, is studied among four major regions, namely Europe, North America, Asia-Pacific, and the Rest of the World.
North America is estimated to hold a significant market share in the global air powered vehicle market. The market in this region is led by the U.S., which contributes almost 70% of the revenue. Development of clean energy for vehicles and mounting awareness regarding maintaining the environmental balance is the foremost driving factors of the market, in this region.
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Major Highlights of TOC Covers:
1. Executive Summary
2. Key Business Trends
3. Regional Trends and Growth
4. Product Trends
5. End-use Trends
6. Definition and Forecast Parameters
7. Air powered vehicle Market Segmentation
8. Air powered vehicle Market Landscape
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