Philippines Light Electric Vehicle Market, Industry Revenue, Growth and Competition: Ken Research Philippines Light Electric Vehicle Market Segmentation, 2022 By Type of Two/Three Wheeler EV (E-Trikes and E-Motorcycles) The revenue generated from the sales of e-trikes contributed to the majority share of XX% in 2022 out of the overall revenue generated by the 2/3W light electric vehicle industry. Governments’ public utility vehicle modernization program to replace fuel… Read More »
Philippines Light Electric Vehicle Market Outlook to 2027: Ken Research 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… Read More »
Government’s public utility modernization initiative coupled with rising fuel cost contributed in the growth of LEV market in Philippines: Ken Research Rising Fuel Cost Rising fuel cost in Philippines in 2022 due to supply constraints and higher foreign exchange rate amidst global tension between Russia and Ukraine, contributes in consumers shifting preference towards availing electric vehicles compared to the conventional ICE vehicles. As Philippines is heavily dependent on imports for its as oil/fuel consumption, higher foreign… Read More »
The light electric vehicle market in Philippines is expected to record a positive CAGR of ~117% on the basis of revenue in between 2017 and 2022: Ken Research Economic Growth in Philippines 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… Read More »
