There is a lot of pressure on governments around the world to commit to becoming carbon neutral – the Middle East is no exception. Reducing the number of petrol-driven cars on the road is integral to this mission. As a result, we’ve seen steady growth both in Saudi Arabia and the UAE and also worldwide in the number of electric vehicles (EVs) being purchased, and car manufacturers are constantly releasing different models to cater for this broadening market.
Mapping the global adoption of electric two-wheelers, barriers, consumer preferences and expectations.
A million-dollar question today is how soon the world will shift to electrified transportation and how the competitive dynamics in the global automobile market will change as a result. Scientists, policymakers, and industry experts around the world have been advocating for the electrification of road transportation as a strategy to reduce dependency on oil, CO2 emissions, and urban air pollution. However, electric four-wheelers (E4Ws) has their own set of challenges, as a result, electric two-wheelers (E2Ws) such as e-bikes, e-scooters, and e-motorcycles may offer more immediate opportunities for electrification of road transport, particularly in urban areas.
Understanding the market landscape of electric vehicles, intenders’ perception, barriers to adoption & marketing opportunities.
"The only constant in life is change!" When it comes to the automotive industry, one of the most significant changes that we have seen in recent years is the introduction of EVs. We are in the midst of an automotive revolution since Tesla revolutionized the industry with its first mass-produced highway-legal electric vehicle (EV) powered by a lithium-ion battery. As a result, automakers of all sizes have been rushing to launch their electric vehicles in order to provide consumers with an alternative to dealing with environmental concerns, rising fuel prices, and shifting consumer preferences.
Considering the alarming stage of environmental hazards and soaring fuel prices, EV sales are steadily infiltrating the transportation industry. Are these concerns, however, enough to bring in a complete EV adoption worldwide?
Even though the EV adoption rate is on a rise, they still constitute a small proportion of all vehicles on the road. But that could change very soon. Many industry observers believe that marketers have already passed the tipping point where EV sales will quickly outnumber those of gasoline and diesel vehicles. With technological capabilities improving and societal demand for sustainable solutions, the EV's time has come. However, it begs the question of whether challenges faced due to various infrastructural issues, high cost and limited options can impact the pace of global EV adoption.
Borderless Access examined the current EV landscape, barriers to adoption, brands to watch, and opportunities to market to potential EV buyers in the US, UK, Germany, France, India, Malaysia, Vietnam, Indonesia, UAE, Saudi Arabia, South Africa, Nigeria, and Brazil markets.Let's unlock a few insights.
Topics: consumer preference, electric vehicles, electric vehicles in emerging markets, consumer research, digital consumer behaviour, consumer insights, borderless access, ba insightz, qualitative research, quantitative research
Imagine people widely using smartphones and laptops in the 1980s, colour TVs in the 1950s, or motor cars in the early 1900s. These technologies were regarded as futuristic concepts at first, but eventually became the way of life.
Similarly, the idea of operating a vehicle using electricity was conceived in the 19th century. Unfortunately, the concept did not progress beyond just being an amusement or as they say a parlour trick—“Look! No horse or ox, yet it moves!’’. Yet, after several ups and downs, when electric vehicles (EVs) subsequently entered the automobile market as an alternative to internal combustion engine vehicles (ICEVs), they failed to penetrate the market due to multiple reasons.
With rising fuel prices and environmental concerns over the last few years, the automobile industry witnessed the return of EVs (electric vehicles) by new entrants such as Tesla painting a unique picture for the automobile sector with their high-performance EVs that use advanced technology.
This led to a disruption in the automobile sector causing dominant automobile brands to rethink their strategy and evolve. But the big question is, has the industry and brands been able to address the consumer concerns associated with EV adoption?
Hence, Borderless Access conducted a study across 13 markets [US, UK, Germany, France, India, Malaysia, Vietnam, Indonesia, UAE, Saudi Arabia, South Africa, Nigeria, and Brazil] to unlock the evolving behaviour, brand preferences, and factors influencing the attitudes and perceptions of EV owners. The insights here would also highlight the opportunities for brand marketers and how can they help drive EV adoption to gain a bigger market share for their brand.
Topics: electric vehicles, electric vehicles in emerging markets, EV consumer sentiments, consumer research, borderless access, ba insightz, qualitative research, quantitative research, consumer habit study, automobile consumer research, automobile consumer insights
Topics: market research, marketing research, survey, consumer behaviour, consumer preference, electric vehicles, EV, consumer attitude, electric vehicles in emerging markets, EVs in emerging markets, EV consumer sentiments, consumer research