A leading two-wheeler manufacturer dives into E2W and E3W market assessment

Growth in the global E2W and E3W markets is accelerating. India offers the world’s largest untapped market in the E2W segment. It is growing at a nascent stage and accounts for less than 1% of the total 2W sales.

About the client

Our client is ranked as the world’s fourth-largest two and three-wheeler manufacturer with an extensive product portfolio that has helped the brand find a global market.

Business Challenge

Growth in the global E2W and E3W markets is accelerating. India offers the world’s largest untapped market in the E2W segment. In anticipation of the high customer and government interest in the sector, our client wanted to assess the E2W (moped and motorcycle) and E3W (electric cargo three-wheeler and electric passenger rickshaw) market scenario in India.

The company came to us with the following exigency:

• Identifying addressable E2W and E3W market segments
• Relevant customer characteristics within each market segment
• Customer mapping into a possible business case and evaluation of its economics
• Crucial supply-side dynamics

Netscribes Solution

To meet our client’s ask, Netscribes conducted a two-phased comprehensive study.
Phase One: Market Segmentation
Step 1: Market segmentation and customer mapping

• Analyze learnings from benchmark countries
• Map India’s 2W and 3W customer universe
• Design market segmentation

Step 2: Analyzing market segment characteristics

• Consumer persona
• Travel requirements and characteristics
• Travel economics
• Electric mobility

Step 3: Evaluating each market segment’s potential

• Measure possibility of transition to E2W or E3W
• Analyze the potential of shortlisted market segments

Phase Two: Investigation of industry dynamics
Step 1: E2W and E3W industry landscape
Step 2: Charging strategy: Home, public, and swap charging systems
Step 3: Competitor landscape, technology landscape, and regulatory framework

Results

Many E2W ad E3W manufacturers in India are already strategizing aggressive expansion plans in capacities and new products. With Netscribes’ exhaustive analysis of the E2W and E3W market in India, our client was able to devise a winning roadmap for embracing electric mobility.