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E-bikes are Likely to Continue Being the Largest Segment
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The study provides an overview of the EV market in the Philippines for the period, 2017-2022. The market is segmented into e-Bikes, e-Tricycles/e-Trikes, e-Jeepneys, e-Quads, and passenger EVs. Of these, e-Bikes and e-Trikes account for 95 percent of the market. The Philippines EV market is will grow significantly over the next decade due to the country's economic growth, inadequate public transport alternatives to jeepneys and tricycles, and government support through programs and legislation. New EV launches by OEMs and the establishment of charging infrastructure are expected to further encourage growth. However, the market is likely to be challenged by the limited charging and road infrastructure, a lack of a developed supply chain for batteries and parts, uncertainty regarding standards and requirements, and ownership and usage control restrictions. It also attempts to forecast the demand in an optimistic scenario, a realistic Frost & Sullivan scenario, and a conservative scenario. The research includes the profiles and company background of a few key stakeholders that are expected to influence the market during the forecast period. It also presents a detailed discussion on key findings, Market Engineering measurements, key drivers and restraints, future outlook, growth opportunities, and companies to action.
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