The client was a leading manufacturer of deep-cycle solar and motive batteries. In China, its primary market is rental equipment as well as golf and utility vehicles.
The lead-acid battery industry in China is experiencing a sustained and vigorous growth trend meaning there is an increased demand for lead acid batteries (LAB). The client has been selling its products in China through distributing partners for over 15 years.
The client was looking to gain in-depth knowledge of the deep cycle LAB market prospects for a China market entry. This included both importing products produced abroad and exporting products produced in China.
We approached the objective in three steps:
To assess the prospects of each pre-specified segment, we used desk research and in-depth interviews with industry experts. This gave us comprehensive insights of the deep cycle LAB market, to identify potential new market opportunities for the client and to assess LAB market prospects in key segments. The data and knowledge gained in step one was further leveraged in step two.
We engaged in mystery calls with competitors to understand their strategy. Using this information to benchmark the competitors, we are further assessed our client’s best approach to new markets and gained insights on current demand for lead acid batteries and similar products.
Another set of mystery calls and the aggregation of research from step one and two allowed for a cross analysis between the findings. The synthesis of this information and an end-demand analysis delivered key findings in:
Based on these findings we validated new markets’ potential and evaluated the client’s relevance to enter them. We delivered the client with a report including the market sizes and actionable recommendations on each identified market.