Geothermal Energy Market in the Philippines Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Geothermal Companies in the Philippines and the Market is Segmented by Technology Type (Ground Source Heat Pump, Direct Use Geothermal, and Deep Geothermal System). The report offers the market size and forecasts in installed capacity (in MW) for all the above segments.

Geothermal Energy Market in the Philippines Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Geothermal Energy in the Philippines Market Size

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Philippines Geothermal Energy Market Summary
Study Period 2021 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2021 - 2023
CAGR 1.50 %
Market Concentration High

Major Players

Philippines Geothermal Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Philippines Geothermal Energy Market with other markets in Energy & Power Industry

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Geothermal Energy in the Philippines Market Analysis

The Philippines Geothermal Energy Market is expected to register a CAGR of greater than 1.5% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.

  • Over the medium term, factors such as rising energy demand and the demand for cleaner energy are expected to drive the growth of the Philippine geothermal energy market during the forecast period.
  • On the other hand, low domestic investment due to the high installation cost of the geothermal plants is expected to restrain the Philippine geothermal energy market in the forecast period.
  • Nevertheless, due to its favorable geological characteristics, the deep geothermal system sector is anticipated to experience significant expansion in the Philippine geothermal energy market. By 2040, the Philippine government hopes to stop using coal and shift its attention to renewable and natural gas energy sources. This can create several opportunities for the Philippines geothermal energy market in the future.
  • Favorable government policies and incentives on renewable energy are likely to drive the Philippine geothermal energy market during the forecast period.

Geothermal Energy in the Philippines Industry Overview

The Philippine geothermal energy market is consolidated. Some of the key players in this market include (in no particular order) Philippine Geothermal Production Company Inc., Energy Development Corporation, National Power Corporation, Aboitiz Power Corporation, and Aragorn Power and Energy Corporation (APC Group Inc.).

Geothermal Energy in the Philippines Market Leaders

  1. Philippine Geothermal Production Company, Inc.

  2. Energy Development Corporation

  3. National Power Corporation

  4. Aboitiz Power Corporation

  5. Aragorn Power and Energy Corporation (APC Group Inc.)

  6. *Disclaimer: Major Players sorted in no particular order
Philippines Geothermal Energy Market Concentration
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Geothermal Energy in the Philippines Market News

  • October 2022: The Philippine renewable energy business Energy Development Corp (EDC) unit partnered with Toshiba Energy Systems & Solutions Corp. and Toshiba (Philippines) Inc. to deliver a 20-MW flash geothermal power project in the southern region of the island of Luzon.

Geothermal Energy in the Philippines Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Philippines Geothermal Energy Installation Capacity and Forecast in Megawatts (MW), till 2025
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 PESTLE Analysis

5. MARKET SEGEMENTATION

  • 5.1 By Technology Type
    • 5.1.1 Ground Source Heat Pump
    • 5.1.2 Direct Use Geothermal
    • 5.1.3 Deep Geothermal System

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
  • 6.2 Strategies Adopted by Key Players
  • 6.3 Company Profiles
    • 6.3.1 Philippine Geothermal Production Company, Inc.
    • 6.3.2 Energy Development Corporation.
    • 6.3.3 Aboitiz Power Corporation
    • 6.3.4 Aragorn Power and Energy Corporation (APC Group Inc.)
    • 6.3.5 National Power Corporation
    • 6.3.6 Pure Energy Holdings Corporation
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Geothermal Energy in the Philippines Industry Segmentation

Geothermal energy is a method of energy conversion that utilizes heat energy from within the Earth to generate electricity and produce heat for many purposes, such as space heating, cooking, and bathing. Geothermal energy can be used to generate heat and electricity. The market is segmented by technology type. By technology type, the market is segmented into the ground source heat pump, direct use geothermal, and deep geothermal system. The report also covers the market size and forecasts for the Philippine geothermal energy market. For each segment, the market sizing and forecasts have been done based on installed capacity (in MW).

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Geothermal Energy in the Philippines Market Research FAQs

What is the current Philippines Geothermal Energy Market size?

The Philippines Geothermal Energy Market is projected to register a CAGR of greater than 1.5% during the forecast period (2025-2030)

Who are the key players in Philippines Geothermal Energy Market?

Philippine Geothermal Production Company, Inc., Energy Development Corporation, National Power Corporation, Aboitiz Power Corporation and Aragorn Power and Energy Corporation (APC Group Inc.) are the major companies operating in the Philippines Geothermal Energy Market.

What years does this Philippines Geothermal Energy Market cover?

The report covers the Philippines Geothermal Energy Market historical market size for years: 2021, 2022, 2023 and 2024. The report also forecasts the Philippines Geothermal Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Geothermal Energy in the Philippines Industry Report

Statistics for the 2025 Philippines Geothermal Energy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Philippines Geothermal Energy analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.