Market Size of Philippines Renewable Energy Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 9.81 gigawatt |
| Market Volume (2029) | 27.16 gigawatt |
| CAGR (2024 - 2029) | 22.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Philippines Renewable Energy Market Analysis
The Philippines Renewable Energy Market size in terms of installed base is expected to grow from 9.81 gigawatt in 2024 to 27.16 gigawatt by 2029, at a CAGR of 22.60% during the forecast period (2024-2029).
- Over the medium term, factors such as increasing demand for renewable energy, reduced tariffs on renewable energy, and government policies will likely drive the market during the forecast period.
- On the other hand, the country's inefficient grid infrastructure and many islands are expected to restrain the market.
- Nevertheless, the growing focus on achieving zero-emission targets, including targets for increasing clean power generation, will likely present significant opportunities in the Philippine renewable energy market.
