Global Partner. Integrated Solutions
Client Overview
MURC (Part of MUFG), provide a variety of services and solutions centered on think tank and consulting businesses. The client aimed to understand the Indian E2W (electric two-wheelers) and E3W (electric three-wheelers) Market to identify potential vendor in the country. To achieve this, MURC engaged with Nexdigm (SKP) to conduct a comprehensive analysis of the India E2W and E3W Market.
Our Approach
- We first defined the EV Market for analysis, focusing primarily on volume sales of E2W and E3W
- Our market sizing analysis, which looked at both past sales and future potential sales, indicated that the market could potentially double within the next 10 years and could eventually start replacing ICE vehicles in India
- We conducted both primary and secondary research to evaluate major companies and upcoming startups in this industry
- Additionally, we did vendor selection approach to identify from which company these E2W and E3W companies are sourcing their components from, whether its in-house or a third-party company
- Detailed value chain analysis was also presented to the client, highlighting the margin from procurement of materials to sale of vehicle to the end customer.
Impact We Created
- Several key insights from our analysis impressed the client in evaluating their market entry into India, including the in-depth understanding of the procurement strategies each manufacturer is utilizing in the market
- Overall, our comprehensive market research provided the client with an in-depth understanding of the E2W and E3W market in India and aided in formulating their entry strategy.