Press release
Air Powered Vehicle Industry Outlook 2025-2035: Rapid 38.3% CAGR Drives Market Expansion
The global air powered vehicle market was valued at USD 339.4 million in 2025, and is projected to reach USD 8,692.47 million by 2035, registering a CAGR of 38.3% from 2025 to 2035.
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COVID-19 Scenario :
The outbreak of COVID-19 has had a negative impact on the growth of the global air powered vehicle, owing to the occurrence of lockdowns in various countries around the world, which led to the closure of various manufacturing facilities, including the automotive sector, which adversely impacted the growth of the market. In addition, there was a considerable drop in automobile sales during the pandemic, which further added to the impact.
Furthermore, shortage of raw materials due to ban on import and export of items further aggravated the impact on the market.
These restrictions were imposed by the government to limit the spread of the virus during the pandemic.
However, the market is expected to recoup soon with rise in fuel prices and growing environmental concerns.
The report offers detailed segmentation of the global air powered vehicle market based on product type, vehicle type, range, top speed, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest growing segments and the highest revenue generation that is mentioned in the report.
Based on vehicle type, the passenger vehicle segment to occupy the largest market share in 2025, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The commercial vehicle segment, on the other hand, is expected to cite the fastest CAGR of 41.0% during the forecast period.
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Based on product type, the single energy mode segment to occupy the largest market share in 2025, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The dual energy mode segment, on the other hand, is expected to cite the fastest CAGR of 39.6% during the forecast period.
Based on range, the more than 200km segment to occupy the largest market share in 2025, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The 100-200km segment, on the other hand, is expected to cite the fastest CAGR of 41.5% during the forecast period.
Based on region, the market across the Asia-Pacific region to occupy the largest market share in 2025, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 44.3% during the forecast period.
The key players analyzed in the global air powered vehicle market report include AB Volvo, Audi AG, Ballard Power Systems, BMW AG, Engineair Pty Ltd, General Motors, Honda Motor Co., Ltd., Hyundai Motor Company, Man SE, Mercedes-Benz Group AG, Motor Development International SA, Peugeot S.A., Phinergy, Suzuki Motor Corporation, Tata Motors, Toyota Motor Corporation, and Volkswagen AG.
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The report analyzes these key players in the global air powered vehicle market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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