Market Size of Philippines Renewable Energy Industry
| Study Period | 2018- 2028 |
| Base Year For Estimation | 2022 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2018 - 2021 |
| CAGR | > 9.00 % |
| 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 is expected to register a CAGR of more than 9% during the forecast period.
COVID-19 had a detrimental effect on the market. Presently, the market has reached pre-pandemic levels.
- Over the medium term, factors such as increasing demand for renewable energy, reduced tariffs on renewable energy, and government policies are likely to drive the market during the forecast period.
- On the other hand, inefficient grid infrastructure and a high number of islands in the country are expected to restrain the market.
- Nevertheless, the growing focus on achieving the zero-emission targets, including targets for increasing clean power generation, is likely to present significant opportunities in the Philippine renewable energy market.
