Philippines Power Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Philippines Power Market Size & Share and It is Segmented by Generation Source ( Thermal, Hydro, Renewable and Other Generation Sources) and Transmission and Distribution. The Report Offers Market Size and Forecasts in Installed Capacity for all the Above Segments.

Philippines Power Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Philippines Power Market Size

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Philippines Power Market (2025 - 2030)
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Volume (2025) 29.61 gigawatt
Market Volume (2030) 35.52 gigawatt
CAGR 3.70 %
Market Concentration Medium

Major Players

Philippines Power Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Philippines Power Market Analysis

The Philippines Power Market size in terms of installed base is expected to grow from 29.61 gigawatt in 2025 to 35.52 gigawatt by 2030, at a CAGR of 3.70% during the forecast period (2025-2030).

  • Over the medium, there is a growing demand for electricity due to rapid industrialization, urbanization, and population growth. Additionally, there is a strong push towards renewable energy to reduce carbon emissions and reliance on imported fossil fuels.
  • On the other hand, the power market faces several challenges due to high electricity costs and aging infrastructures in the country.
  • Nevertheless, the government and private sector are investing in renewable energy projects, such as solar and wind farms, to diversify the energy mix and reduce dependence on fossil fuels. This transition aims to lower electricity costs in the long run.

Philippines Power Industry Overview

The Philippines power market is semi-consolidated. The major companies include San Miguel Corporation, AboitizPower Company, First Gen Corporation, Power Sector Assets and Liabilities Management Corp. (PSALM), ACEN CORPORATION (ACEN), and others.

Philippines Power Market Leaders

  1. San Miguel Corporation

  2. AboitizPower Company

  3. Power Sector Assets and Liabilities Management Corp. (PSALM)

  4. ACEN CORPORATION (ACEN)

  5. First Gen Corporation

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

  • July 2024: A subsidiary of SM Investments, Philippines Geothermal prodution company Incorporation (PGPC), internds to explore new geothermal enrgy sources in Luzon, with the goal of producing and extra 400 MW of sustainable energy. The region of Kalinga, Benguet, Cagayan, Camarines Norte, and Camarines Sur will see the development. These projectt, which should be finished in 2025, will help reach the atrget of 50% renewable energy by 2040.
  • March 2024: Mainstream Renewable Power signed two Wind Energy Service Contracts (WESC) with the Department of Energy (DOE) in the Philippines for the development rights for two onshore wind farms with a combined capacity of 440 MW. The contracts represent Mainstream’s first fully-owned WESCs in the Philippines, and it is one of the first 100% foreign-owned companies to secure the contracts.

Philippines Power 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 Power Installed Capacity and Forecast, till 2030
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.1.1 Growing Demand for Eectricity
    • 4.5.1.2 Government Support for Power Sector
    • 4.5.2 Restraints
    • 4.5.2.1 High Electricity Cost and Aging Infrastructure
  • 4.6 Supply Chain Analysis
  • 4.7 PESTLE Analysis
  • 4.8 Investment Analysis

5. MARKET SEGMENTATION

  • 5.1 Generation Source
    • 5.1.1 Thermal
    • 5.1.2 Hydro
    • 5.1.3 Renewable
    • 5.1.4 Other Generation Sources
  • 5.2 Transmission and Distribution (Qualitative Analysis)

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 San Miguel Corporation
    • 6.3.2 AboitizPower Company
    • 6.3.3 First Gen Corporation
    • 6.3.4 Power Sector Assets and Liabilities Management Corp. (PSALM)
    • 6.3.5 ACEN CORPORATION (ACEN)
    • 6.3.6 DIANTER Renewable Energy Resources Philippines
    • 6.3.7 Shell PLC
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Renewable Energy Growth
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Philippines Power Industry Segmentation

Power generation is generated through various primary sources such as coal, hydro, solar, thermal, etc. In utilities, it's a step before its delivery to its end users. Then the process is followed by Transmission and distribution. Under this, the power generated is distributed via high-voltage lines (transmission lines) and low-voltage lines (distribution lines) as per the requirement of the end user.

The Philippines power market is segmented by generation source, transmission, and distribution (T&D). By generation source, the market is segmented into thermal, hydroelectric, renewables, and others. Only qualitative analysis is provided for power transmission and distribution (T&D). For each segment, the market sizing and forecasts are based on installed capacity, except for power transmission and distribution (T&D), for which only qualitative analysis will be provided. 

Generation Source Thermal
Hydro
Renewable
Other Generation Sources
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Philippines Power Market Research Faqs

How big is the Philippines Power Market?

The Philippines Power Market size is expected to reach 29.61 gigawatt in 2025 and grow at a CAGR of 3.70% to reach 35.52 gigawatt by 2030.

What is the current Philippines Power Market size?

In 2025, the Philippines Power Market size is expected to reach 29.61 gigawatt.

Who are the key players in Philippines Power Market?

San Miguel Corporation, AboitizPower Company, Power Sector Assets and Liabilities Management Corp. (PSALM), ACEN CORPORATION (ACEN) and First Gen Corporation are the major companies operating in the Philippines Power Market.

What years does this Philippines Power Market cover, and what was the market size in 2024?

In 2024, the Philippines Power Market size was estimated at 28.51 gigawatt. The report covers the Philippines Power Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Philippines Power Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Philippines Power Market Report Snapshots