The global electric powertrain market size was valued at USD 83.66 billion in 2021, and is projected to reach USD 1,078.18 billion by 2031, growing at a CAGR of 29.1% from 2022 to 2031. An electric powertrain is the group of components in an electric vehicle that transfers power from the battery to the surface where the vehicle runs. The component in an electric powertrain includes inverter, which converts the battery DC power to AC and drives the induction motor in vehicle for propulsion. Moreover, electric motor is an important part of electric powertrain development as it converts electricity to torque to move the vehicle.
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The market research study provides a detailed analysis of oscillating market trends, top-most segments, value chain analysis, major investment business scenarios, regional space, and competitive landscape. The study is a key information source for giant players, entrepreneurs, shareholders, and owners in generating new strategies for the future and taking steps to improve their market position. The report displays an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly emerging industry.
Regional Analysis:
Based on region, Asia-Pacific contributed toward the highest market share in 2021, accounting for nearly half of the global electric powertrain market. The region is predicted to contribute majorly toward the global market share in 2031. Moreover, the LAMEA electric power train market is slated to record the highest CAGR of 32.0% during the forecast timeline. The research also analyzes regions including Europe and North America.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the solar electric propulsion market include Aerojet Rocketdyne, QinetiQ and Northrop Grumman.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Solar Electric Propulsion Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/solar-electric-propulsion-market/download-sampleMarket DynamicsThe market is primarily driven by various factors, such as increasing the number of space exploration missions, demand for LEO-based services, and growing demand for advanced electric propulsion systems.
The introduction of low-cost satellites and the development of reusable space launch vehicles are some of the major factors driving the growth of the market.
In recent years, many countries are focused on innovative, profitable satellite launches.
Also, the rapid deployment of CubeSats is one of the current trends in the market.
The global hybrid and full electric marine propulsion market bears a fairly fragmented vendor landscape, says Transparency Market Research (TMR) in a recently published report.
This is solely because of the existence of large, medium, and small scale players in the market.
Established companies are investing more in adopting marine propulsion technology, specifically renewable/hybrid technology for impelling their growth meter in the market.
Experts project this growth to occur at a promising CAGR of 9.8% during the forecast period from 2018 to 2026.Among the various propulsion types in the market, demand for hybrid vessel segment is expected to boost the global hybrid and full electric marine propulsion market during the forecast period.
This is because of high utilization of solar and renewable energy as storage option in hybrid vessels.
Region wise, Europe is expected to account for a dominant share in the global hybrid and full electric marine propulsion market in the coming years.
