Philippines Light Electric Vehicle Market Outlook to 2027: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Overview Of Philippines Light Electric Vehicle Industry And Market Size The light electric vehicle market in Philippines recorded a positive CAGR of ~117.6% on the basis of revenue in between 2017 and 2022. The increasing growth is attributed to the surging sales of electric two/three wheeler across Philippines due to rise in delivery and logistics services availing two-wheeler EVs coupled with usage of e-trikes as a form of public transportation medium. Government’s public utility vehicle modernization program to replace PUV’s aged 15 years or older to electric vehicles further contributed to the growth of LEV market. In order to implement the replacement program, the government of Philippines partnered with brands such as Bemac for the delivery of 3,000 electric tricycles in 2019. Rising fuel cost in Philippines due to the global tension between Russian and Ukraine and subsequent supply shortage further, resulted in consumers growing preference in availing electric vehicles. Although, the four-wheeler EV market recorded a surging growth of 110.9% on the basis of revenue generated in between 2017 and 2022, but the passenger four-wheeler EV segment has not been able to contribute a substantial share on the overall LEV market. In 2021, the concentration of fine particulate matter (PM 2.5) causing air pollution, reached 58.4 µg/m3 in the megacity of Metro Manila during dry season, which is 11 times more than the prescribed limit set by WHO. The surging threat to the environment positively contributes in enhancing the demand of EVs due to consumers increasing consciousness towards limiting carbon emissions and reducing air pollution. The infrastructural shift towards adoption of EVs will assist the country in its aim for reducing greenhouse emissions by 75% by 2030. Steady economic growth in Philippines serve as a catalyst for the increasing adoption of EVs in the country. Even though, the share of electric passenger cars was comparatively lower than that of e-tricycles and electric two wheelers in 2022 but in coming years, the demand for EV will witness massive surge supported by strong economic growth coupled with increasing domestic investment and rising per capita disposable income Lack of domestic manufacturers coupled with inefficient charging infrastructure were major challenges faced by the industry as of 2022. In case you need to write a paper on economic growth you can simply buy a dissertation online that will help you describe the economic situation effectively. Future outlook of Philippines Light Electric vehicle Market, 2022-2027E The light electric vehicle market in Philippines is estimated to expand at a CAGR of ~20.4% on the basis of revenue in between 2022 and 2027E. One of the major determinant for the surging growth in coming years is attributed to the favorable government initiative to develop and transform the EV ecosystem in Philippines such as reduction in import duty to 0%. Under the National Energy Policy, various government departments have been tasked to enhance the EV infrastructure in the country. The Department of Energy (DOE) is tasked with promoting EVs and developing charging infrastructure in cooperation with other agencies, while the Energy Regulatory Commission (ERC) is entrusted to regulate the charging rates. EVIDA act launched by the government in 2022 will serve as a major catalyst to accelerate the development, commercialization and utilization of EVs in the country. Coupled with that, the improvement in battery technology will contribute in increasing the range and longevity of EVs, making it popular among consumers. Increasing awareness on environmental impacts and consumer’s consciousness towards limiting carbon footprint will also contribute in increasing the business potential of EV players. The logistics and delivery companies are adopting electric two-wheelers to provide quick and convenient postal and delivery services, along with the thriving e-commerce industry, which is anticipated to offer lucrative growth opportunities to key industry players. EV players especially the two-wheeler brands operating in Philippines should form partnership and collaboration to disrupt the B2B sales of EVs in coming years. To learn more about this report Download a Free Sample Report Key Segments Covered in Philippines Light Electric Vehicles Industry:- By Type of Two/Three Wheeler EV E-Trikes E-Motorcycles By Type of Four-Wheeler EV Passenger Car Light Commercial Vehicle By Type of Four-Wheeler EV Technology HEV PHEV BEV Request For Sample Report By Price of Four-Wheeler EV Less than PHP 2,000,000 PHP 2,000,000-4,000,000 More than 4,000,000 By Type of Four-Wheeler EV Battery Nickel Metal Hydride Battery Lithium-Ion Battery Nickel Manganese and Cobalt Battery By Four-Wheeler EV Battery Capacity Less than 2 kWh 2-20 kWh 20-40 kWh More than 40 kWh By Four-Wheeler EV Brands Toyota Lexus Nissan BYD By Region Ilocos Central Luzon National Capital Region Western Visayas Central Visayas Eastern Visayas Mimaropa Mindanao Region Caraga Bikol Region Caragan Valley Cordillera Administrative Region Time Period Captured in the Report:- Historical Period: 2017-2022 Forecast Period: 2023F-2027F Philippines Light Electric Vehicle Market Players Electric Two-Wheelers NWOW Inokim Maeving KYMCO Motor Star Electric Three-Wheelers Bemac Terra Motors Tojo Motors SunE Electric Four-Wheelers Toyota Nissan BYD Lexus BMW Audi Porsche Jaguar For more information on the research report, refer to below link:- Philippines Light Electric Vehicle Market Related Reports:- Malaysia Electric Vehicle Market Outlook to 2026: Driven by government initiatives along with the need to curb vehicular emissions, and increasing charging infrastructure UAE Electric Vehicle Charging Equipment Market Outlook To 2026: Driven By Government Support And Incentives With The Increasing Focus To Achieve Green And Sustainable Economy Tags: Challenges in Philippines LEV Market, Company Profiles of Four-Wheeler EV Brands, Company Profiles of Three-Wheeler EV Brands, Company Profiles of Two-Wheeler EV Brands, E-Motorcycles Philippines, E-Trike Costs Philippines, E-Trikes in the Philippines, Electric Vehicle (EV) Investments Philippines, Electronic Trikes Industry Philippines, Four-Wheeler BEV Market Philippines, Four-Wheeler LEV Market Philippines, Four-Wheeler Light Commercial Vehicle Philippines Industry Size, Four-Wheeler Passenger Car Philippines Market, Future Market Size of Four-Wheeler LEV Philippines, Growth Drivers of Philippines LEV Market, Issues in Philippines LEV Market, Number of Electric Vehicles Sold Philippines, Philippines E-Vehicle Market, Philippines Electronic Motorcycles Industry Growth, Philippines Four-Wheeler HEV Market, Philippines Four-Wheeler PHEV Market, Philippines LEV Industry, Philippines Light Electric Car Market, Philippines Light Electric Vehicle Market, Philippines Light Electric Vehicle Market Competition, Philippines Light EV Market, Three-Wheeler LEV Industry in Philippines, Three-Wheeler LEV Market Philippines, Two-Wheeler Electric Bike Philippines, Two-Wheeler LEV Market Philippines
