This project provides an analysis of the global electric vehicle market by developing an index to evaluate the performance of different countries based on various factors. It also includes a predictive model to estimate the levels of new registrations of electric cars for the next three years.
The project leverages the power of Python and utilizes the pandas library for data manipulation and analysis. It begins by defining weightings for different variables such as registrations, annual growth rate, charging infrastructure, government incentives, market competition, and public awareness and acceptance. These weightings are used to calculate an index value for each country, representing their performance in the electric vehicle market.
The project incorporates a dataset that includes historical data on electric vehicle registrations for several countries over the years 2017 to 2021. The data is normalized and processed to calculate the index values for each country. Additionally, the maximum values for each variable are determined to provide a reference for normalization.
The original dataset can be found here: https://www.zsw-bw.de/en/media-center/data-service.html
Below are exploratory data analysis on the dataset performed before the predictions were made on the data set:
