The Philippines power EPC market reached approximately USD 383.57 Million in 2025. The market is projected to grow at a CAGR of 5.90% between 2026 and 2035, reaching a value of around USD 680.46 Million by 2035.
Base Year
Historical Period
Forecast Period
In 2022, the solar capacity in the Philippines grew by 214 MW, bringing the total to 1.53 GW.
Energy consumption has seen a steady annual growth rate of 4% since 2020, culminating in a total of 64.5 Mtoe in 2022.
The Renewable energy roadmap for 2020-2040 of the nation is targeting a 35% share of renewables in the power mix by 2030, with a further goal of 50% by 2040.
Compound Annual Growth Rate
5.9%
Value in USD Million
2026-2035
*this image is indicative*
| Philippines Power EPC Market Report Summary | Description | Value |
| Base Year | USD Million | 2025 |
| Historical Period | USD Million | 2019-2025 |
| Forecast Period | USD Million | 2026-2035 |
| Market Size 2025 | USD Million | 383.57 |
| Market Size 2035 | USD Million | 680.46 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 5.90% |
| CAGR 2026-2035 - Market by Type | Renewable | 6.7% |
| Market Share by Type | Thermal | 30.0% |
The Department of Energy (DOE) in the Philippines anticipates the commissioning of almost 4.2 GW of new power projects by the end of 2024, which involves a combination of renewable and conventional sources. This includes the commencement of commercial operations for a solar power capacity of nearly 2 GW (1,985 MW) in 2024, as well as the development of two large thermal power plants - the Batangas CCGT power project with a capacity of 1,320 MW (4x440 MW) and the Mariveles coal-fired power project with a capacity of 600 MW (4x150 MW, with unit 1 already operational and the other 3 units undergoing testing and commissioning). Furthermore, around 590 MW of battery energy storage is expected to be commissioned within the year.
The swift expansion of the Philippines' economy and population has led to a significant increase in energy needs. This upsurge in demand has required the enlargement of the power infrastructure, leading to the commencement of several engineering, procurement, and construction (EPC) endeavours.
To meet the objectives outlined in the Renewable Energy Roadmap 2020-2040, which seeks to achieve 35% of renewables in the power mix by 2030 and 50% by 2040 under a Clean Energy Scenario (CES) (35% in a Reference Scenario (REF)), the country will require PHP 25.3bn (US$490m) of green investments for pre-development under the CES scenario and PHP 17.9bn (US$347m) under the REF scenario.
“Philippines Power EPC Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
| CAGR 2026-2035 - Market by | Type |
| Renewable | 6.7% |
| Nuclear | 6.0% |
| Thermal | XX% |
| Oil and Gas | XX% |
| Others | XX% |
Based on type, the market is segmented into thermal, oil and gas, renewable, and nuclear, among others. The renewable segment is projected to grow at a CAGR of 6.7% during the forecast period of 2026-2035. Renewable energy sources are continuously replenished, ensuring a dependable energy supply. The utilisation of renewable energy greatly diminishes greenhouse gas emissions and pollution in comparison to traditional fossil fuels. This aids in combating climate change and lowering air and water pollution.
| Market Share by | Type |
| Thermal | 30% |
| Oil and Gas | XX% |
| Renewable | XX% |
| Nuclear | XX% |
| Others | XX% |
Major players are focusing on the adoption of cutting-edge technologies to gain a competitive edge in the market.
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In 2025, the market reached an approximate value of USD 383.57 Million.
The market is estimated to grow at a CAGR of 5.90% between 2026 and 2035.
The market is estimated to witness a healthy growth during 2026-2035 to reach around USD 680.46 Million by 2035.
The market is being driven by rapid urbanisation and rising infrastructure development projects.
The key trends aiding the market expansion include the growing adoption of renewable energy and the expansion of grid infrastructure.
The different types of power EPC in the market include thermal, oil and gas, renewable, and nuclear, among others.
The major players in the market are First Balfour, Inc., EEI Corporation, MERALCO INDUSTRIAL ENGINEERING SERVICES CORPORATION, Aboitiz Construction, Inc., D.M. Consunji, Inc., Sta. Clara International Corporation, and JGC Philippines, Inc. among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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