Year-on-Year Variation:
- 2024: $63.604 million
- 2025: $66.404 million (4.4%)
- 2026: $69.149 million (4.1%)
- 2027: $71.839 million (3.9%)
- 2028: $74.475 million (3.7%)
The Compound Annual Growth Rate (CAGR) over the next five years (2024-2028) is approximately 3.9%.
Key trends to watch include the increasing adoption of electric vehicles (EVs) in the Philippines, which may drive significant growth in the import of lead-acid batteries. Additionally, potential regulatory changes and advancements in battery technology could impact the market dynamics.
