Project Title: Electric Vehicles (EV) Market Size Analysis

Objective:

To analyze and forecast the growth, trends, and dynamics of the electric vehicle (EV) market using data science methods—helping stakeholders understand market potential, consumer behavior, and adoption drivers.

Key Components:

Data Collection:

Collects data from:

EV sales and registration records

Automotive industry reports

Government policies and incentives

Consumer surveys and charging infrastructure data

Global oil prices and battery cost trends

Market Segmentation:

Segments data by:

Vehicle types (e.g., BEV, PHEV, HEV)

Regions (e.g., US, Europe, China)

Manufacturers (e.g., Tesla, BYD, Nissan)

Use cases (personal, commercial, fleet)

Trend Analysis & Forecasting:

Applies time series forecasting models (ARIMA, Prophet, LSTM) to estimate future EV market size.

Analyzes trends in EV adoption, pricing, and battery efficiency.

Policy & Incentive Impact Analysis:

Evaluates how subsidies, tax breaks, and regulatory mandates affect EV sales and market penetration.

Uses causal inference or regression analysis.

Consumer Behavior Modeling:

Analyzes factors influencing EV adoption such as:

Cost of ownership

Charging convenience

Range anxiety

Clusters consumer profiles using K-means or decision trees.

Competitive Landscape:

Benchmarks manufacturers based on market share, growth rate, innovation, and customer sentiment.

Uses text analysis on reviews and news to assess brand perception.

Visualization & Reporting:

Dashboards show EV sales over time, by region and company.

Interactive tools simulate market size under various scenarios (e.g., oil price spike, policy change).

Outcomes:

Provides market intelligence for automakers, investors, and policy makers.

Supports strategic planning, investment decisions, and product development.

Helps identify growth opportunities and barriers to adoption.

Tracks progress toward sustainable transportation goals.