AGP Support: Growth Strategy, Market Research, Innovation Scouting
Industry: Automotive & Mobility, Technology & Software
Industry: Automotive & Mobility, Technology & Software
Market Segmentation and Targeting
Client
The client is a Fortune 500 industrial conglomerate seeking to expand its business in the rapidly evolving electric vehicle (EV) components market.
Situation
The fast-paced development of the Chinese EV market led to substantial changes in the EV component landscape. The client realized they had fallen behind in tracking the rapid growth of the industry and needed to consolidate and expand their business portfolio. To regain their competitive edge, they sought a comprehensive understanding of both mature and emerging EV components and raw materials, and wanted to identify the most promising opportunities for growth.
Approach
Asia Growth Partners collaborated with the client’s strategy, product, and sales teams to develop a complete matrix for industry screening and targeting.
- Map a long list of EV component segments and segment it based on growth potential.
- Analyze industry trends to prioritize the most promising component segments.
- Conduct in-depth assessments of the manufacturing processes for high-potential components to identify pain points.
- Develop a go-to-market strategy to help the client enter the prioritized segments.
Results
- Interviewed 7 internal key stakeholders and over 20 experts from target customers to gain detailed market insights.
- More than 50 EV component segments were evaluated and prioritized based on their growth potential.
- A comprehensive market landscape report, including a prospect and opportunity analysis for prioritized segments, was delivered to the client.
