Marketing analysis of electric vahicle

Assignment Taken

Department of information technology

Case Understanding

from the case we can see there is a huge scope for renewable energy and automobile sector is taking steps in this direction but India is in starting phase and there is a huge scope in this sector specially in two-wheeler, three-wheeler, and commercial vehicles. Government target for 30% adoption of electric vehicles by 2030 so we can develop a product and launch in this growing market and generate revenue

BCS Solution Summary

To resolve the problem we have developed a product which is electric Bicycle which can be used by most of the population as it is effective, affordable and easy to use. we can target a huge audience which is college and school going, Daily wage worker and people who need to travel within the city. There is no potential competition in this market. So there is huge scope of success and the project can be completed in low budget and return on investment will be great. the bicycle is ecofriendly and acceptable by government. This sector have a great potential for success.

Solution

Market analysis for electric cycle
The Electric Bike Market is projected to reach USD 79.7 billion by 2026 from USD 47.0 billion 
in 2021, at a CAGR of 11.1%. Government support and initiatives and positive impact of 
Covid-19 pandemic on sales of e-bikes will drive the e-bike market.
After pandemic the electric market in continuosly incresing, even after pandemic market is 
still increasing.e-MTB has witnessed a rapid increase in demand compared to other types, 
such as city/urban and cargo e-bikes, in recent years. It is perfectly suitable for off-road, as 
its robustness provides safety even on wet and slippery terrain.
Asia Pacific is anticipated to lead the e-bike market during the forecast period due to the 
high sales of e-bikes in the region. According to MarketsandMarkets analysis, in terms of 
volume, Asia Pacific contributed about ~88% to the global electric bike market in 2020 by 
volume.The e-bike market is led by globally established players such as Accell Group N.V. 
(Netherlands), Pon.Bike (US), Merida Industry Co., Ltd. (Taiwan), Giant Manufacturing Co., 
Ltd. (Taiwan), and Yamaha Motor Corporation (Japan). These companies adopted new 
product launches and expansion to gain traction in the ebike market.
In India, two-wheelers primarily include motorcycles, mopeds, scooters and electric two 
wheelers. And now also we have electric cycleIndian 2 Wheeler Market unit sales stood at 
21.2 million units in 2019 and would reach sale of 26.6 million units by 2025 displaying a 
reasonable CAGR of 2.6% over the forecast period (2020-2025). The two-wheeler industry in 
India has grown rapidly since the announcement of the process of liberalization in 1991.
As we also know the electric vehicle contain cost more than motor vehicle, so we decided to 
launch a light weight cycle which has a electric motor. According to consumption of people, 
we segmented the cycle into 24V, 36V, 48V, 60V, 72V categary.
Into the market there is also many electric cycle available but they contain more cost but 
the cycle made by us contaion less cost than other.
We use DC motor for cycle wh has power to charge in less time and also there is Solar 
pannel may available for long route . 12v DC motor is sufficient for cycle because it is easy 
to rotate motor in very minimun power and it provide better battery backup.
12V motor 
Small LED light for visibility
Solar pannel which is inbuilt into body
Fast charging 
PCB- provide voltage 24V-48V, 350W
Output 10A
1Over speed and current protection 
Wheel size 26 inches (easy to move in every typr of route)
Max speed 25-35km/h
Batteries
frame with fork
crank gears
brake systems
and others
Some additional feature that can be include in future
Basket for carrying things, automatic battery charger whicle cycle is on running mode, etc

Conclusion

we need a product which is affordable and acceptable so If we introduce this electric bicycle, then it will be very much effective for the environment. As we all are watching that in todays scenario because of pollution our cities are polluting very much. If people go for bike and public transport then it will be hectic , time taking and cost taking. For all these in mind we are making this electric bicycle. we can capture a huge market in this area and become a market leader

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