Global Electric Vehicle Market Overview[spacer height=”20px”]
The electric vehicle (EV) market has experienced rapid growth due to several global trends. Increasing city regulations, decline in lithium-ion battery prices, and high electric vehicle demand in developing countries are expected to drive the growth of the global electric vehicle market. On the flip side, increasing reliance on imported components and parts, inadequate electricity supply for charging, and lack of quality maintenance and repair systems are increasing challenges for companies operating in the electric vehicle market. Owing to such challenges, companies in the vehicle market are in the need to rethink their existing business models and seize lucrative business opportunities.
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Business Challenge[spacer height=”20px”]
The client is an electric vehicle manufacturer and supplier based out of the United Kingdom.
As the UK vehicle market was becoming highly saturated, the client wanted to expand their operations to other profitable markets. The client chose to expand to the United States. However, lack of charging infrastructure, high price of automotive parts, and evolving policies made it difficult for the client to expand their operations to the US. They, therefore, approached the experts at Infiniti Research to leverage their expertise in offering market intelligence solution.
By leveraging Infiniti’s market intelligence solution, they wanted to:
- Analyze the top companies in the US market and identify how they tackled charging infrastructure challenges
- Thoroughly analyze the price fluctuations in the US electric vehicle market
- Understand US customers’ needs and demands regarding electric vehicles
- Analyze changing policies in the US
Are you facing difficulties in addressing the rising challenges in your industry and keeping up with market demands? Our market intelligence experts can help.