The Vietnam Renewable Energy Market reached a size of USD 4,274.1 Million in 2025 and is projected to grow to USD 10,618.2 Million by 2034. The market is expected to expand at a CAGR of 10.64% during the forecast period of 2026-2034. Key growth drivers include the abundant availability of renewable resources such as sunlight and wind, technological advancements in renewable energy, and increasing environmental sustainability efforts.
Study Assumption Years
Base Year: 2025
Historical Period: 2020-2025
Forecast Period: 2026-2034
Vietnam Renewable Energy Market Key Takeaways
The Vietnam renewable energy market size reached USD 4,274.1 Million in 2025.
The market is expected to grow at a CAGR of 10.64% from 2026 to 2034.
The market size is forecasted to reach USD 10,618.2 Million by 2034.
Rapid urbanization and increasing energy demand are primary growth factors.
Availability of abundant renewable energy resources like sunlight and wind benefits market expansion.
Technological advancements have made renewable energy solutions more efficient and affordable.
Government policies including feed-in tariffs and financial incentives promote renewable energy development.
Sample Request Link: https://www.imarcgroup.com/vietnam-renewable-energy-market/requestsample
Market Growth Factors
The rapid urbanization and strong demand for power in Vietnam is helping to increase the growth of the renewable energy sector. Solar and wind projects are specifically helping fulfill the gap in supply and demand sustainably. The country's geography lends itself well to the development of various renewable energy sources.
The abundant renewable resources with high and consistent levels of solar irradiation and wind power in many parts of Vietnam are believed to create positive market conditions for the utilization of renewable energies, in combination with the increasing awareness of environmental protection measures.
Technological improvements in the manufacture and performance of solar panels and wind turbines as well as reducing the cost of renewable energy generation, combined with government support in the form of feed-in tariffs (FiTs) and tax incentives have attracted both domestic and foreign investments. The availability of customized loans and financial products provided by banks has reduced the capital and financing barriers to investment.
Market Segmentation
Type Insights:
Wind: Includes the sector involving wind energy generation, benefiting from the ample wind resources across Vietnam.
Solar: Comprises solar energy projects leveraging abundant sunlight in the region for electricity generation.
Hydro: Covers hydroelectric power developments contributing to the renewable energy landscape.
Others: Includes other forms of renewable energy sources utilized in Vietnam.
End User Insights:
Industrial: Renewable energy applications and consumption within industrial sectors.
Residential: Usage of renewable energy solutions in residential settings.
Commercial: Adoption of renewable energy for commercial purposes.
Regional Insights:
Northern Vietnam
Central Vietnam
Southern Vietnam
These segments showcase the country's diverse renewable energy use across various regions and end-user categories.
Regional Insights
The report highlights Northern Vietnam, Central Vietnam, and Southern Vietnam as major regional markets for renewable energy. The diverse geographic conditions across these regions promote the development of a variety of renewable energy projects. Specific market share or CAGR data by region is not provided.
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Customization Note
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us
IMARC Group,
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No: (D) +91 120 433 0800
United States: +1-201971-6302
