Market Size of Philippines Power Generation EPC Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 383.98 Million |
| Market Size (2029) | USD 535.90 Million |
| CAGR (2024 - 2029) | 6.89 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Philippines Power Generation EPC Market Analysis
The Philippines Power Generation EPC Market size is estimated at USD 383.98 million in 2024, and is expected to reach USD 535.90 million by 2029, growing at a CAGR of 6.89% during the forecast period (2024-2029).
- Over the medium period, factors such as increasing energy demand and upcoming and ongoing power plant projects are expected to drive the power EPC generation market in the Philippines during the forecast period.
- On the other hand, the complex and expensive nature of coal-fired and natural-gas-fired power plants, coupled with delays in projects, are expected to have a negative impact on the market studied.
- Nevertheless, the Philippines government has planned to phase out its coal usage by 2040 and focus more on energy production from natural gas and renewable sources. This, in turn, is expected to create several opportunities for power generation EPC companies in the near future.
