Philippines Electric Vehicle Market Outlook (2020-2025) | Size & 6Wresearch

 The Philippines continues to develop its electric vehicle (EV) market as industry and government are cooperating to support the electric vehicle (EV) adoption in the Philippines. Moreover, new EV launches by OEMs and the establishment of charging infrastructure are expected to further encourage the growth of the electric vehicle market in the country. Additionally, the 2-wheeler, 3-wheeler, and 4-wheeler electric vehicle market are expected to take a hit amid the Covid-19 pandemic in 2020 while the electric bus market is likely to remain relatively resilient.

According to 6Wresearch, Philippines electric vehicle market size grew at a CAGR of 23.6% during 2020-2025. Under the EV manufacturing roadmap, the Department of Trade and Industry (DTI) has issued incentives such as the removal of tariffs, excise duty exemptions, and VAT exemption for raw materials/parts/capital equipment for EV manufacturing. Further, the Department of Transportation (DOTr) is implementing a Public Utility Vehicle (PUV) Modernization Program, a large-scale transportation initiative that calls for the replacement of ICE jeepneys (public transport) with next-generation vehicles (e-jeepneys).

Key Highlights of the Report

  • Philippines Electric Vehicle Market Overview
  • Philippines Electric Vehicle Market Outlook
  • Philippines Electric Vehicle Market Forecast
  • Market Drivers and Restraints
  • Industry Life Cycle
  • Porter’s Five Force Analysis
  • Impact Analysis of COVID-19
  • Market Trends
  • Philippines Vehicle Market Revenue Ranking, By Companies
  • Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

About Us

6Wresearch is the premier, one-stop market intelligence and advisory centre, known for its best-in-class business research and consulting activity. We provide industry research reports and consulting services across different industries and geographies which provide industry players with an in-depth coverage and help them in decision-making before investing or entering into a particular geography.

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